2014 Ram 1500 EcoDiesel: Sold to CarMax
by Ronald Montoya, Senior Consumer Advice Editor on February 15, 2016
Our 2014 Ram 1500 EcoDiesel reached its golden anniversary at 50,000 miles. This was a great truck and we loved driving it so much that we kept it an extra 10 months. But it's a new year and there are new cars to buy. Time for a trip to CarMax to size up the truck's value.
According to Edmunds True Market Value, the Ram should be worth about $30,420 as a trade-in. For reference, we paid $50,510 when we bought it in April 2014.
I asked the CarMax appraiser if our spray-on bed liner would affect the truck's value. He said they'd consider it, but it wouldn't likely have a huge impact on the price. Personally, I think an aftermarket bed liner of any sort would improve a truck's trade-in prospect, if only for cosmetic value. No one wants to buy a truck with a bed full of scratches.
CarMax offered us $32,000. This represents roughly 37 percent depreciation over about 22 months. It's hard to pinpoint what the value would have been at the 12-month mark, but the Ram's depreciation seems to be on par with our last full-size truck, the 2014 Chevrolet Silverado. The Chevy depreciated about 24 percent in 12 months.
Since the offer was so good, we sold the truck to CarMax a few days later. What do you think? Was this a good price or not?
Ronald Montoya, Senior Consumer Advice Editor @ 50,084 miles