2003 Dodge Ram 2500 SLT quad cab diesel

So my father in law is considering downsizing his fleet of toys and vehicles. He's been a hobbyist horseman his whole life, but health issues may be forcing his retirement from riding, which is sad, though he's realistic about it.

If it comes to pass, he will likely be getting rid of some things. (I will be getting a sweet old tractor which will be posted on Shiny Things when I get it.)

As he'd be selling his horse trailer and camper, he would no longer need his pickup, and would likely be looking at getting something smaller and more fun, like a JK Wrangler (he likes mine).

So this brings up the question. His truck is a 2003 Ram 2500 SLT Quad Cab 4x4 with the Cummins motor. He just had the rocker panels redone (we do live in the salt belt) so it looks pristine. The kicker - it only has 64,000 miles. He lives in a small town and has had a beater Jeep to drive around town, so he really only ever used the truck to tow the trailer or on longer trips.

He's not so computer savvy, so he had me look up the value of the truck (and yes, I know NADA and KBB aren't really THAT accurate). I was shocked to see both come back with an average trade value of $15k! I said I would consult some experts - aka the ADVRider crew. Can that be right? Does the Cummins diesel really add value to the point that a 12 year old pickup would still realistically go for that kind of money? He's not received the go ahead from the mother in law to sell it, but he and I were both really surprised it was valued that high.

I guess I'm asking the collective here, does this seem realistic for such an old truck, and if you were in the market, would you pay that much? I will say, the truck looks almost brand new.

Do a search of your local craigslist for Dodge trucks w/ Cummins engines. You'd be surprised at what people are asking for them. Doesn't mean they're getting the price they're asking of course but it can give you an idea.

Low mileage diesel trucks are popular and people seem willing to pay premiums for them.


I would wager that a 64k mile '03 4x4 QC in good shape would sell rapidly at $15,000.


I'd of been all over a truck like that for $15,000 considering what similar trucks go for in my area..

For example, a friend of mine bought an '07 2wd mega cab with 84k on the clock. Has some aftermarket stuff on for towing purposes etc... He paid $26,000 for it, which was right in the ballpark of the going rate for such a vehicle where I'm at.

nada / kbb value and real world value are two different things, there is a high demand for the 2003-2007 Rams with cummins since they are way more reliable then the newer diesels

you should book it as private party not trade in value to get a better idea of it is worth

that truck has really low miles its pretty much brand new, I would say its worth around $20k-$25k maybe more because their is a big demand for them

The private party issue is that he really doesn't want to deal with the hassle of doing a private transaction for that big an amount. I can't say I blame him - I've heard of too many horror stories of forged bank checks and the like. But if there's a $10k difference in the value, he might consider it (obviously). I'll mention that to him.

Entire financial transaction takes place at buyer's bank with funds electronically transferred to seller's account.

if you are precautious about how you conduct the deal it is not a big deal to do a private party transaction.You can get a lot more for the truck going that route. The dealer will haggle you and waste your time

You can meet at his bank or your bank to conduct the transaction

1. Cashier's check (make sure to get the branch manager involved to request that you want it to clear the same day)

2. Buyer can withdraw cash and you can deposit it at your bank to make sure its legit.

3. He can wire the funds to your account, once it clears you can sign off the title to him

fwiw, the Cummins option was $7500 in '98, likely more in '03.

I sold my 07 Chevy Duramax three weeks ago for $21K (crew cab LS, 4x4 short bed, 112K). The buyer used the same bank as I and we did a bank transfer, no issues, cash in my account in 30 seconds.

Do not trade that truck to a dealer your FIL will be getting screwed, sell it yourself.

SP

I think the $15K is realistic, especially since it only has 64K miles.

As an example, I bought a 2002 diesel, 6 spd std 2500 extended cab, 8 ft bed with 110 k a couple years ago for $13K.

Great truck, even with the rust starting.

Discochris sent you a PM as Im in the market for a tow vehicle

Buy it! My '03 SLT 4x4 Quad cab Cummins was the best truck I ever had. I sold it at 175k miles having never touched the engine. The guy I sold it to use to work for me, this past fall he finally had to have the transmission replaced... at 260k... piece of shit truck anyway

I now have a '13 without the cummins... wish I had bought the deisel

I have the 13' with the cummins it is a sweet machine and the factory exhaust brake works nicely....I still love the 1st-3rd gens

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It's not just a "Cummins diesel"...It's a "5.9" Cummins diesel. That's HUGE. I have a 4th Gen ('13) 6.7 turd. And, my '01 5.9 would run circles around it...and get about 25% better MPG doing it.

Another thing, your FIL's truck has going for it, is that it's 4X4. I've owned quite a few trucks, and will not buy a 4X2. With every year that a 4X4 ages, it gets closer to being double the value of its 4X2 brethren.

Your FIL's truck sounds like a nice find, that quite a few dudes are looking for. And, I agree with ShardPhoenix. It should have no problem bringing $15K...rapidly.


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I think it will bring more then $15k

1997 F350 4x4 powerstrokes with 100-150k miles are selling for $15k-$18k around these parts

I sold my 2004.5 SLT quad cummins. They changed the motor mid year 2004 to the HO 600 some ft/lb of torque engine. I had IIRC about 100k miles. I got $19k for it from the only guy that ever called on it.

Good Luck

Yes.

And 4x4 2500.

3/4 ton 4x4 diesel trucks with low miles are in high demand and can sell for surprising prices in certain markets.

I recently missed out on a super nice 1999 Super Duty Ford because I couldn't believe it would sell for the asking price. It did.

Nice low mileage 5.9 cummins 4x4 trucks bring some good money, not really the same but I just saw a 93 extended cab W350 (4x4 dually) with 6,600 miles sell for $36,000... I know right.

You'll have no trouble at all getting ONLY $15K for that truck.

I second the advice to search CL to get an idea of the local market and wouldn't be surprised to see it go for $20k-$22k.

Edit: Actually, I just checked NADA (www.nadaguides.com) on it and the dealer retail is $19,225 and the clean trade-in is $15,800. Private Party retail is usually between the two.