Should i sell my truck? (Get a "real" truck later)

Messages
2,865
Location
utah
Just pulled NADA on my 2016 Sierra Crew SLT 6.2 max tow truck. Clean Retail is now $41,300. It's been flying up over the past 6 months or so. To me, its the perfect half ton truck. However, i will be having a 3rd child this fall and its intended use will not be used for a while. We take it on recreational/camping type trips and with the new baby that just won't happen. So my theory is, sell it this summer and live without a truck [GASP!] for 1-2 years. There's no loan on it currently so there is literally 40k sitting in the driveway being driven infrequently.

I also own a '07 cargo van that i can use to haul things and i would likely buy a flat bed trailer to hold me over for any open bed type hauling.

Future wants are to get into an RV, like a travel trailer, or if i upgrade trucks, a 5th wheel. I like the Ford F450, very overbuilt everywhere and the wide front axle helps the turning radius. The weight and dually rear end would be the ultimate in towing safety/peace of mind. This half ton is rated for 11,300lb and 2k payload so it could tow a modest travel trailer just fine. I'd like to stay 25% under rated capacity for safety.

Since i can live without the truck, i could sell now, and wait for new trucks to be common/discounted again. I would invest the money and hopefully see good gains before its spent on a truck/trailer or whatever.

If i just keep it, the worst that happens is i end up with a smaller trailer and lose the chance to sell the truck for top dollar. 40k would cover every dime i spent on the thing in like 3 years.

Thoughts?
 
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Messages
33
Location
Athens, AL
I cashed in on my paid for corolla that was collecting dust in the garage and haven’t looked back. It may be against what everyone else seems to be speculating, but I personally feel that used car prices are going to plummet before long.
 
Messages
189
Location
USA
I cannot tell you what's RIGHT for you. The future is always uncertain. One can only do his best with imperfect information.

If you didn't like the truck or it was plague with problems, it would be easy to advise to sell. However, the "perfect" vehicle is often hard to find, so that's a strike in favor of keeping it. I've read many many times, on forums, about vehicles, guns, houses, whatever, "Man, I wish I'd have kept it. I don't even remember what I spent the money on but that was the perfect XYZ."

If this were "normal" times, it might be wise to sell and repurpose the money. Conventional wisdom says vehicles tend to depreciate. However this is not "normal" times. There are many reasons why old reliable trucks are appreciating. People want them for their rugged dependability and easy low cost maintenance - it's a rejection of the smaller turbo engines, a rejection of the EVs, and a rejection of $80,000 pricetags for trucks loaded with bloatware electronics.

Also, the styling on newer trucks is quite ugly IMO. Big, obnoxious, rude looking, nothing elegant or pleasant about them.

Example: Literally, I saw a "newly" listed 1990 Toyota T100 with 150,000 miles by chance during a dealer lot recon on Sunday night. I was thinking it might be $3000 and I'd buy it. It was in beautiful condition for something 31 years old. I looked at the ad and the dealer didn't even have pictures up yet and listed it for $15,000. I was floored by that price... I figured I'd wait a month until they come down to something reasonable, maybe $5000. I drove by out of curiosity today, 2 days later, and asked to see it. It had already sold. A $15,000 31 year old truck with 150,000 miles on the bare bones small V6 engine, I think it's a 2.4L... People are lusting after old reliable trucks...

Will that change? I don't think it will. I think if you have a reliable "older" truck, especially a V8, I see the prices of those holding very strong as companies stop making them in favor of EVs and small engine turbo trucks. These dying bread trucks are, IMO, going to get more sought after.

When companies stop making things that were very popular, the prices tend to go up. Old muscle cars, old revolvers, and so forth. I think these V8 trucks are going to get very very sought after when companies close production on them in favor of more "EPA" friendly trucks.
 

CKN

Messages
6,470
Location
Utah
I just checked KBB on my 2018 Silverado Crew Cab LTZ-4WD a couple of days ago. It's worth exactly what I bought it new for almost three years ago.
 
Messages
939
Location
MO
Can these NADA values be real? I just did it for my truck with 16,500 miles and clean trade-in is $75,800! I paid $67,000 for it just over 2 years ago. OP, I’d sell if I were in your situation and could get anywhere close to that.

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Messages
4,887
Location
Lakeville, MN
If you don't need it now and can live without it, AND bear the cost of replacement if you think you'll want one again, then yes, sell it. The time is now. Prices are crazy.

I bought my 2016 F150 for 37k out the door. I just had an offer for 31k - 5 years after buying and 72,000 miles later. Of course a new replacement now (if you can find one) will run 47+. And I actually am using the truck, so selling isn't an option...

(As a reference point, I just tried to purchase a new vehicle out of market. No deal unless I bring a retail trade to the sale... The dealer is extremely concerned about new deliveries - They normally have 200ish F150's on the lot. They will be getting 18 from Ford through August due to the chip shortages...) Dealers are starving for quality tradeins if you want the easy peasy route...
 
Messages
939
Location
MO
I got a kbb instant cash offer on my truck after this thread and it’s $3500 more than I paid for it over 2 years ago. Insane. I’m now very seriously considering selling it to kbb or Carvana. Waiting on the Carvana quote.
 
Messages
23,898
Location
CA
I got a kbb instant cash offer on my truck after this thread and it’s $3500 more than I paid for it over 2 years ago. Insane. I’m now very seriously considering selling it to kbb or Carvana. Waiting on the Carvana quote.
Try vroom, they were higher than carvana for me. But it did take them 1-2 days to provide me with an offer.
 
Messages
1,539
Location
Texas, USA
Just an FYI, Carvana offered $17K for my Focus, Carmax paid me $19K. No drama, no runaround, no making appointments & waiting to be contacted. I left with a check an hour after I got there.
 
Messages
437
Location
Rochester, NY
You guys got me curious... I paid $23,700 for my '16 Sierra back in 2018, at 18,500 miles. Immediately put a brand new cap on the bed for $1,700. Total cost $25,400. KBB says it's worth $24,186 - $27,713 today with 54,000 miles on it.
 
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