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Old 04-28-2015, 09:37 PM   #1
discochris OP
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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.
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Old 04-28-2015, 10:02 PM   #2
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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.
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Old 04-28-2015, 10:06 PM   #3
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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
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Old 04-28-2015, 11:05 PM   #4
discochris OP
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Originally Posted by Stroked 550 View Post
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.
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Old 04-28-2015, 11:20 PM   #5
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Originally Posted by discochris View Post
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.
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Old 04-28-2015, 11:31 PM   #6
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Originally Posted by discochris View Post
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.

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
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Old 04-29-2015, 07:58 AM   #7
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fwiw, the Cummins option was $7500 in '98, likely more in '03.
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Old 04-29-2015, 04:07 PM   #8
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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.

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Old 04-29-2015, 05:19 PM   #9
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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.
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Old 04-29-2015, 05:34 PM   #10
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Discochris sent you a PM as Im in the market for a tow vehicle
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Old 04-29-2015, 08:25 PM   #11
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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
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Old 04-29-2015, 09:04 PM   #12
Stroked 550
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Originally Posted by Double Moo View Post
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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Old 04-30-2015, 01:59 PM   #13
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KBB is owned by Autotrader.com. Theie bread and butter is the dealer so KBB prices give the advantage to the dealer.
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Old 04-30-2015, 03:54 PM   #14
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Quote:
Originally Posted by discochris View Post
...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...

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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Old 04-30-2015, 04:11 PM   #15
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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
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