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...bought for under 20k used 2 years ago and now it's worth only 8k with only 20k more miles.
What did you buy used 2 years ago--a 2012? How many miles did it have? Gen 2 completely depressed Gen 1 values. It's like buying an iPhone 3S in the age of iPhone 7.

As someone who has spent a LOT of time researching Volt prices, it's an OK value NEW but often a terrible value USED (based on listed prices). Most of the used Volts I see are at outrageously high prices. The main reason--tax credit. I see two-year-old 2015s listed for around 20K, which is silly because with the $7,500 tax credit, you're hugging the often-discounted 2017 LT territory with its greater range and connectivity.

Also, dealers always lowball on trade-in until you put real money on the table. Some dealer will always kick in more if they want to make a sale. Whoever told you it was worth $8k would probably give you $10k if a deal depended on it.
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