Price shock with used cars

[Astro14]

How does everyone handle this?

An older truck (2004 Silverado. Reg cab, short bed, 4x4) at the local Chevy dealer caught my eye yesterday. Looked it over, took it for a test drive, and was relatively happy minus the weak AC.

It was 45% above KBB value.

It’s crazy. The used market is very strong. Four years ago, when I was shopping, I was stunned by what dealers were getting for used trucks.

So I bought a new one.

A brand new truck for a couple grand more than a used model seemed like a much better proposition.

 

[doublebase]

I'd pretty much handle it like this...make an offer, they'll decline. Then you walk. They'll either call you and counter, or they won't. Remember, you can always find something else. There is always MORE. You have to realize that there is always more. And that makes it so much easier.

Then again I recently didn't take my own advice - in my situation there was no "more" - buying this house, I made my offer, he declined...we went back and forth...I reached my "final offer". He declined. I went up $5,000 more than I wanted because there was nothing else. I had run out of time...sold my own house, needed to find a house. This was the one. He had me. I felt some pressure and I ran out of time.

 

[doublebase]

Yeah but it's easy to see why that is. The modern trucks are:

- Luxury level comfortable
- Capable
- Safe
- Quite fuel efficient for their size
- Not that expensive or difficult to maintain
- Cheap to insure
- Have luxuries, fits, finishes available previously only in S Class Mercedes.
- Have virtually all tech features out there
- Can be status symbols if you want
- Powerful engines and are quicker than most cars and suvs

If you can deal with the size, it's like driving your living room down the road. Trucks make a lot of sense all around.

You're right, these things drive great, they look great and they are pretty loaded. Smooth, quiet, good power, good fuel economy, great in the snow and versatile/practical.

The only thing I hated about mine was parking it. Tough in crowded parking lots.

 

[Ignatius]

I have spent several years working in the car business and for the past few months sales have been good to record breaking for many dealerships in my area and others that I know employees of across the country. Right now it is a seller's market, inventories are low because new vehicle production slowed down or stopped for a while and factory to dealership delivery has slowed as well. If there are fewer new cars to sell that affects everything. Fewer trades coming in to be flipped to used sales and used Inventory gets sold off in turn.

Overall there is a shortage of vehicles available to be sold with high demand, so in turn that will drive prices up and a smart business will not be as motivated to lose money to make deals happen. No dealership should be getting desperate to sell anything right now.

 

[odie]

The start of the internet changed used car prices . Could find a car for $150 and put a few hundred $s' in it and run for a year or 2 .

 

[OppositeLocK]

You're right, these things drive great, they look great and they are pretty loaded. Smooth, quiet, good power, good fuel economy, great in the snow and versatile/practical.

The only thing I hated about mine was parking it. Tough in crowded parking lots.

Yup, parking and driving in crowded city traffic is probably the only downside to trucks.

 

[Vern_in_IL]

Trucks are stupid and obsolete, just buy a New Ford Bronco and haul a **** trailer. Much more fun. The only truck worth buying is the Gladiator.... unless you actually use your truck for work, which most don't.

JMO.

 

[doublebase]

It’s crazy. The used market is very strong. Four years ago, when I was shopping, I was stunned by what dealers were getting for used trucks.

So I bought a new one.

A brand new truck for a couple grand more than a used model seemed like a much better proposition.

I found myself in the same boat...literally spent a couple grand more for the same exact truck, new, compared to the one with 50,000 miles and a few scratches and half worn tires, sitting out front of the very same dealership. I couldn’t believe the logic.

 

[GON]

Which KBB value.

Negotiate. Write your offer on a piece of paper with name & phone and give to salesman and walk out. First ask him what his best would be on the truck.

Maybe they just got it and want to see if it draws people who don't know what the price should really be. I am sure there are many things that go on at a car dealership you don't know the reason for.

Who ever gives the first price loses in any negotiation. Always have the dealer give their lowest price first, and negotiate down from there.

 

[dlundblad]

Trucks are stupid and obsolete, just buy a New Ford Bronco and haul a **** trailer. Much more fun. The only truck worth buying is the Gladiator.... unless you actually use your truck for work, which most don't.

JMO.

I haul a trailer now. Have for years.

I need a pickup truck. A real truck with an actual towing capacity. Trust me, it’ll be used as such.

 

[OppositeLocK]

Who ever gives the first price loses in any negotiation. Always have the dealer give their lowest price first, and negotiate down from there.

Not always true if you know what to ask for.

 

[Silver]

Please don't contribute to what I call "Sucker Inflation". Some of us don't want to throw our money away on intangible "value".

 

[Duffyjr]

Yup, parking and driving in crowded city traffic is probably the only downside to trucks.

Before they let you drive off the lot with a four door pickup they should make you pass a parking test.