Is it Over? Used Vehicle Market
- Thread starter Zee09
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The pickup bubble has burst around here Lots of late model trucks sitting on dealer lots in this area. Most of them were bought at inflated prices.
Lots of people likely decided to wait for a new model since the 2-3 yr old off lease units were very close in price (until now)
Lots of people likely decided to wait for a new model since the 2-3 yr old off lease units were very close in price (until now)
Price is always lower than expected when you are SELLING or trading in a car.
I blame the truck/SUV price drop on fuel prices though.
I blame the truck/SUV price drop on fuel prices though.
Heh. I'm not seeing any of that yet.
This is not a $41,000 pickup. It sold for 15% more than that, when it was brand new.
https://www.vroom.com/inventory/gmc-sierra-1500-2018-3GTU2NEC1JG436056#warranty-and-protection
This is not a $41,000 pickup. It sold for 15% more than that, when it was brand new.
https://www.vroom.com/inventory/gmc-sierra-1500-2018-3GTU2NEC1JG436056#warranty-and-protection
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What they are paying for not selling for.
You might be onto something. I got an inflated amount for our Camry, but the truck that replaced it wasn't too bad considering. Every area is different though; it seems domestic trucks are still inflated around here a little bit cause yanno 'Merica 
An awful lot of those purchases were made by buyers who saw all of these new pickups with all the bells and whistles out on the road (and they were all over the place) and said, hey those things are cool looking, I want one to cruise around town in.
Eventually those kind of buyers all end up with new trucks, while the rest of the buyers get the vehicle that works best for their needs which often does not include a pickup selling for way north of $50k.
Eventually those kind of buyers all end up with new trucks, while the rest of the buyers get the vehicle that works best for their needs which often does not include a pickup selling for way north of $50k.
Nick1994
$100 site donor 2024
15%-20% marked down means they're still 30% marked up.
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It shows a trend and they all mentioned gas prices,
That said if you really need a truck gas prices are a pain but don't factor in much.
In that situation they think gas or diesel
Well we just sold a leased vehicle to a dealership at a little more than 25% over residual value.
I imagine fuel prices are having an impact on 6 cylinder or more across the board. I know in my home we're struggling with what to buy next because we're unsure if gas prices have normalized.
I imagine fuel prices are having an impact on 6 cylinder or more across the board. I know in my home we're struggling with what to buy next because we're unsure if gas prices have normalized.
Fuel prices will definitely decrease the casual pickup buyer numbers, but there will always be a demand for trucks needed for work, towing, fleets, etc.
I would say most of the people I talk to who are in the pickup truck market are putting buying one on hold if they can, not because of gas prices, but because of the crazy inflated prices for both new and used trucks. Some dealers are tacking on a $20,000 "market adjustment" over sticker for new trucks, and anything used will be just as bad. I have a few landscaping small engine customers who were going to replace some of the trucks in their fleet, and once they did their shopping they ended up just holding onto their trucks.
I would say most of the people I talk to who are in the pickup truck market are putting buying one on hold if they can, not because of gas prices, but because of the crazy inflated prices for both new and used trucks. Some dealers are tacking on a $20,000 "market adjustment" over sticker for new trucks, and anything used will be just as bad. I have a few landscaping small engine customers who were going to replace some of the trucks in their fleet, and once they did their shopping they ended up just holding onto their trucks.
From what I can tell, a 23-year old pickup can haul stuff just as well as a brand-new one. It may not have a 17" screen and a 12-speaker stereo, but who needs that fluff?
My Silverado has dropped $4,000.00 in value the last three months according to KBB.com
So yea-somethings amiss......
KBB.com says my Silverado same year as the above Sierra equipped pretty much the same has a trade in value (now) of $36,00.00. So yea the $41,000.00 seems like that's where it would sell.
As my previous post stated-that $36,000.00 figure is down $4,000.00 from three months ago-so yea it is dropping.
A true red blooded American needs that fluff. LOL
Respectfully-some of us don't wish to drive beaters...........I like my heated/cooled and ventilated front seats along with the
heated steering wheel and Bose stereo. OH-and the dual climate control is very nice.
goofball co-worker just bought a 2017 tahoe premiere edition(woolala) 117k no warranty for 40k....72mos loan...they will be upside down big time after all is said and done....
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