Probably around $5K
Yeah, Sub, you're right about that! Out of curiosity I checked the KBB (Kelly Blue Book) trade-in value, good condition, and it was a measly $4090. With KBB retail being $5940, the dealer clears $1850. A more realistic (private sale) value would be an average between trade-in and retail values, which equals $5015 (almost exactly the $5k value we all seem to agree on).NADA book value (low to high) is $3655 to $4810.
The dealer is just trying to make a profit on the sale.
After all, that's what businesses do.