KBB Trade Value vs Reality?

Long story short, I've got a 2021 Lunar Rock Crew Max TRD Pro that I'm looking at possibly trading in for a 4Runner. I just have the desire to downsize a bit right now. The Tundra is about as flawless as possible. Under 4k miles with a few upgrades (tonneau, running boards) over stock. KBB puts the trade-in value at $58 - $62k but every dealer I've tried to work with is offering pretty much in the $49 to $52k range. Is the KBB trade-in value that absurd or is that dealers simply trying to low ball in hopes of a good payday? I keep getting hung up on that KBB value but maybe it's simply not realistic.

 

Try Carvana and see what they offer.

 

Personally I have never found KBB to be very accurate. And now COVID has throw everything into a tail spin…

 

try edmunds and nada as well.

 

What dealer is offering $49-52 for a LR CM? The cheapest used one I've seen SOLD was for $63k with 10k miles.

 

And for reference I've sold 2 cars this year and KBB was under what I got. I just sold my CR-V this weekend using the instant cash offer and the authorized dealer gave me $1k more than the instant cash, and I traded it in needing a respray on the rear bumper.

 

Find that dealer asking 100k for their LR and tell them you'll give them a deal and only charge them 75k for yours

 

My opinion there low balling you. I sold my last 2 4runner Pros a 17 and 20 and did Kelly blue book. Both times got almost what I paid for from the dealer. I thought about flipping my LunaRock Pro. There would be no way I would be trading my tundra Pro in for 58 to 60. I think this always plays into the deal if you own it or not. Both my 4runners I owned had the titles to them. Just like my tundra Pro. They should be giving you more than that.

 

There's about 10-12 LR CM for sale nationwide. Cheapest is $61k.

 

It's always easier to trade in, but if you have the option to sell it yourself you will do much better. Just list it for high trade in and you will have no issues.
I think that kbb is based off what things have been selling for. Dealers are trying to not get caught with a bunch of inventory that they over paid for.

 

I did bring it in to Carmax the other day. $56k there.
Carvana was at $52k.
Edmunds has it listed at $49k for trade

That's a huge swing between Edmunds and KBB. Goes to show the volatility in the market I guess. Trading is just easier all around, but perhaps you guys are right and it'll be better in the long run to sell privately. More to think about I guess.

 

You may have missed the crazy train. My wife and I have been trying to cash in by selling a rental property, but it seems the market is already adjusting back down to reality.

 

I don't think you missed it. It's actually getting worse. My manager has a Ram on order that's been delayed, my custom F150 was just delayed 2 more months.

 

i'm in the same boat as the OP.... I have a 2021 Crewmax Pro w/500 miles that i'm thinking of selling or trading only because for the first time in years I have an empty garage bay for my daily driver....and the Tundra doesn't fit. KBB says trade-in value 57.5-61.5k. My dealer offered me 52k. Meanwhile just over the NJ border Prestige Toyota in Ramsey has a new 2021 Crewmax in Lunar Rock and they are asking 68k.

 

2022 Tundra is getting unveiled this week along with pricing

I stopped by dealer to pick up my plates yesterday, there were 10+ new Tundra sitting on the lot with no other vehicle. Tundra are not moving and dealer are not going to over pay for Tundra now.

Pro is still desirable but not going to be easy to get a dealer to fork over whatever the market value

 

If you are correct it will be a waiting game to see if a lot of guys jump on the 22 tundra or go after a 21. If you are looking to sell your 21 Pro now you might have to wait and see how this new model pans out.

 

I did reach back out to CarMax today. When they entered my truck info Lunar Rock wasn't an option so they just chose grey as it was the closest color. I asked the rep today to dig into it and see if that wasn't a miss on their part due to the limited availability/option of LR. She's looking into it now. But you guys are all probably right. I feel like the time to sell was two months ago.

 

With all the flooding across the country (IDA) I think the price will go up. BWDIK

 

Depending on how much weight is in that leaked dealer order screen grab, the TRD Pro won't be available for a while.

 

I just contacted a NH dealer and they want 69k for their LR with the MSRP just over 56k.

Incase you don't know depending on the state you only pay tax on the difference. So in CT a 50k trade in value would be similar to a 53k private sale value. (6% sales tax)

 

OP where are you located? It seems like it’s be easy to sell private based on people trying to get one. I have one on order now that is being built Monday (hopefully)

 

That sounds light, but I think regionality plays into it as well. I made a deal to trade in my white '20 TRD Pro CM on a '21 in Lunar Rock July 20. At that time it had about 18k on it and KBB trade in value in central MI was about $55k. It seemed like dealers further south (Detroit, IN and OH) were offering a bit more for trade value than dealers further north and west in MI. I had one dealer ready to bring me a check for $54k and pick it up, but I needed to find a new one at a reasonable price. I stumbled across one incoming in central MI that they'd sell at sticker, but initially only offered $49k for my trade (they'd also require me to finance it and cut a check back for my trade equity). After a quick discussion they came up to $52k which was still a bit light, but I knew it'd be a month or more before it came in and I'd likely put a couple thousand more miles on it before trading. When they initially sent the offer sheet they wrote up the new truck for $52k instead of the sticker price of $55k. After I'd signed and sent it back, they stated it was an error and rewrote it for $55k. The new truck finally came in last week and I picked it up and dropped off my trade now with 21k on it. They also wrote up the new truck for $52k on the final docs... FWIW I paid $52k for the '20 last August. So, it cost me TT+L to drive that truck for a year and 21k miles, feeling like I made out like a bandit.

Also, they now have my '20 listed for $59,750 discounted from what they claim is the KBB retail price of $67,150.

Back to the original question, I'd expand your search circle to see if you can find better trade offers to leverage.

 

I just got $58.5 for my GMC AT4 in the trade to get my Pro, seems you should get far more, but that's geographic specific I suppose.

Why not sell it outright and do that sale at the dealership when you find the 4Runner? A Lunar Rock Pro is hard to find right now.

 

I am first in line at my dealer for a 2022 Pro. Carmax gave me 58k for my 2021 Pro, 9500 miles, super white.

 

Dealer is definitely trying to low ball you. Here is a 19 pro at a dealer up in PNW. Market is crazy. I wouldn't trade it in for anything under 58.5k if I was you. Or sell privately for more the go buy the 4R.

 

I’ve had a similar experience. I bought my 2021 SR5-OR used with 6,000 miles on it a couple months ago for $48,500. KBB had my truck’s median trade-in value at $52k a few weeks ago.

I found 3 Lunar Rock Pros coming into the region (I’m in Central Michigan) with MSRPs of $57,500-$59,000. I considered trading my truck in on one of the LR Pros instead of continuing to upgrade my truck. Before I found an LR Pro I shopped the truck around and the dealerships were offering around $46k. One of the LR Pros happened to land at a dealership that I contacted in Ohio. The salesman got ahold of me and they only offered $44k for my truck. Granted it was sight unseen, but there’s zero chance they were offering anywhere near the KBB $52k ballpark if I drove down there.

It’s just a game of hot potato and they don’t want to be the ones stuck holding it. I would guess that when they pay higher prices for trade ins that they contact customers that have reached out looking for similar trucks. Then they have a reasonable assurance that they can get rid of them quickly.

 

Used market is still high but ALL NEW 2022 will be released very soon and that just throws off your number. Someone who is looking for a TRDPRO and ready to spend that much $$$ would opt out for 2022 not 2021. This might not be the case for an older model Tundra since it has already depreciated and not in 55k-60k range anymore. If you want to do it, take the best quote from the dealers and run with it.

Private party? People who are spending 50k+ and buying from private party are smart buyers. They will nickel and dime you like, hey 2022 is out and its all new TRDPRO for same amount as you are with the old body style, blah blah blah...

Now wait, Anti 2022 Mafia is gonna start throwing rocks at me for comparing 2022 with 2021.....

 

I had a white ‘21 Pro Tundra that I got in June and had a couple months and traded in a few weeks ago and got like 61k trade in plus tax savings.

 

Waiting for the prices of that 2022 pro might just help him. That new 2022 pro is probably going to be 70k ish, before dealer mark ups. Plus I believe that the v8 diehards would like a slightly used pro with a v8 over the TTv6.

 

I know if the new 22 Tundra Pro msrp is 70,000 or much higher than I paid for my 21 Pro I won’t be buying one. That’s why I wanted the last year before the new design. The 21 tundra Pro is going to hold its value really well. Just like my 19 Z06. Last rear wheel Vette and Manual.