Truck value increases?

[JHZR2]

I don’t have a good gut feel. The truck I bought a year ago is a super high mileage anomaly.

How much has the used truck market gone up in the last year? We are toying with buying another truck - I have two single cab trucks, so are thinking something crew/club cab full-size. Maybe a Dodge Ram CTD of some vintage, maybe nothing. Who knows. Likely used. It would be a spare vehicle for pulling boats and driving off-road.

But it seems like trucks that would have been $10-12k a few years back are now $20k, and trucks that would have been $25-35k a few years back are now $50-55k. I’ve read some stories on here of people “making money” selling their used vehicle for more than they bought it for, and then getting great deals on new when available. But I have no real evidence.

I don’t want to get caught holding the bag at the end though… depending upon how overheated things are it may not be prudent.

 

[himemsys]

Our 08 Ranger was totaled in a rollover recently and the insurance paid us over twice what we bought it for last September. I was shocked, to say the least.

 

[eljefino]

Agree the single cab truck is the last value purchase.

Got my silverado in May 2020 then a month later the wife and kids wanted an extended cab so we could all go kayaking together. Would have been nice to know before!

Fuel is still cheap and people like having a family car with a bed instead of multiple vehicles.

 

[SwampSurvivor]

I'm in facebook groups for various trucks that I was looking at buying just to see what common issues pop up. There's a lot of people trading in trucks they bought in 2017-2020 for MORE than they paid new. It baffles me that a 2017 truck with 50K miles will have a trade in above it's original MSRP but it's happening.

All of this has made my truck worth keeping and putting money into

 

[JHZR2]

I'm in facebook groups for various trucks that I was looking at buying just to see what common issues pop up. There's a lot of people trading in trucks they bought in 2017-2020 for MORE than they paid new. It baffles me that a 2017 truck with 50K miles will have a trade in above it's original MSRP but it's happening.

All of this has made my truck worth keeping and putting money into

Im seeing that too. Used Ram diesels are selling for more than I could buy new. Not that I need that level of capability or cash out of pocket. A well maintained and well loved truck would be ok.

But it seems like the prices are just insane.

 

[JRed]

How much has the used truck market gone up in the last year?

^ That's me every time I look at Facebook Marketplace and see the prices for even the most clapped out diesel Dodge or F250 with a 7.3 and they don't stick around for long. One yee yee's trash is another yee yee's treasure.

Trucks are a bad buy right now.

 

[CKN]

My 2018 Silverado is worth (right now) about what I paid new.

 

[HemiBenny]

Our PDR guy sold his GMC diesel to the new car lot that he bought it from for $8,000 more than he paid for it. He drove it for almost a year and just under 14,000 miles. He's driving his old Dodge now, which there's absolutely nothing wrong with.
It's just timing and luck on his part. He was able to do that and not be in a position of having to replace it.

 

[tyman]

It has gone up pretty hardcore. One guy on another forum posted he bought a new Ford PSD in 2018-2019 for like $58k new. Same dealer bought it back a few weeks ago at like $64-65k from him with like 50-60k miles on it.

 

[supton]

I just don't get it. Barely a year's blip and it goes to this. Are we still recovering from the recession from 10 years ago? It's hard for me to believe that a bit of a downturn in new inventory then depletes used. Were people driving utterly clapped out vehicles until the just recently?

 

[Chris142]

Allegedly my old f250 that does not need to be emissions tested or use DEF is worth more than I paid for it 10 years ago.

 

[supton]

Allegedly my old f250 that does not need to be emissions tested or use DEF is worth more than I paid for it 10 years ago.

THAT might be because of location--no emissions testing required. Plus those willing to put up with a diesel are more apt to appreciate a dirt simple diesel. Might be more of a corner case that.

 

[RhondaHonda]

I just sold my 2019 Raptor with 17,xxx miles for $4500 more than I bought it for new over 2 years ago to Vroom. Ordered a new 2021 Raptor (had to pay MSRP) for $3800 more than I sold the 2019 for. I’m going to make a post tomorrow detailing my experience with Vroom. If you have a truck to get rid of and can wait 12-18 months I think you can capitalize on the crazy market now. The Raptor market is already cooling off in the time Vroom got the paperwork and the time I got paid. Maybe I’ll buy my old truck back in a month for $5-10,000 less than they sold it to me for, who knows!?!

 

[JHZR2]

THAT might be because of location--no emissions testing required. Plus those willing to put up with a diesel are more apt to appreciate a dirt simple diesel. Might be more of a corner case that.

I’m seriously considering a quad cab or plain extended cab Ram. 94-02, don’t care, prefer 12v but quad cab suicide doors if working are handy. There are a few reasonable examples out there.

 

[clinebarger]

I just don't get it. Barely a year's blip and it goes to this. Are we still recovering from the recession from 10 years ago? It's hard for me to believe that a bit of a downturn in new inventory then depletes used. Were people driving utterly clapped out vehicles until the just recently?

Used car volume relies greatly on trade-in's, Reduced new inventory affects trade-in's. Vehicles being totaled & stolen takes a pretty good bite.

 

[PandaBear]

I just don't get it. Barely a year's blip and it goes to this. Are we still recovering from the recession from 10 years ago? It's hard for me to believe that a bit of a downturn in new inventory then depletes used. Were people driving utterly clapped out vehicles until the just recently?

We went way past that a long time ago, like around 2012-2015. Some of the lost is lost forever regardless of which space-time continuum you are in but the new normal is hyperinflation that kicked in since 2015 at least in the US.

 

[SatinSilver]

Yes, crew cabs have caught my eye recently. Everything from the smaller trucks to the big ones. That's what I want a crew cab. Just have to figure out the right combination.

 

[tmorris1]

Took my 2019 Supercrew Lariat into the dealer for an oil change last week and was offered about $5-6,000 more than I paid for it new a year and a half ago. Would have wrote a check on the spot. I asked what do you have for me to replace it with, and they said that it the problem...

 

[JTK]

Unless it's truly a deal, I wouldn't pay today's price for CTD unless I absolutely had to. Even old ones are priced 1.5x what they used to be for the most part.

The only marginally sane pricing I see on used trucks these days are ~3yr/old Ram 1500 quad cab 4x4s with the pentastar/ZF8/3.21s. Daughter's BF is in the process of buying one with 18K miles on it for $28K+TTL. Still too high for my cheap arse, but this is the world we live in today.

 

[SwampSurvivor]

Allegedly my old f250 that does not need to be emissions tested or use DEF is worth more than I paid for it 10 years ago.

My 01 F350 doesn't have an evap monitor OR a catalyst monitor / downstream O2 sensor! The emissions excempt and lack of all of that stuff is nice!