Tried to sell my 2006 Ford Ranger with only 75, 800 miles in excellent condition. Payed $11,000 for it on Nov 2016 and still owed $8k. While I understand depreciation, they were only going to offer me $5k per Kelley Blue Book. When I refused, they came back with $7k. Amazing how the value went up in a 1/2 hour. I declined but decided the next morning (the original offer was at 3:00 pm the day before) I would agree to the deal if still available. It wasn't, and the reason was because they had misidentified the particular version of my truck. So, they were going to drop the offer.
I understand depreciation, but my truck didn't depreciate by 1/2 in 8 months when less than 1,000
miles was put on it and it had been garaged the entire time. I can almost guarantee they would sell it for between $9-10k. Nice profit for them screwing me. Think before you deal with them.