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Used Truck Prices

Old 09-23-2020, 08:42 AM
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Default Used Truck Prices

Anyone here been shopping used trucks? I have been shopping since before Covid. Missed some deals. But now it seems that prices have gotten out of hand due to lack of inventory. Simple supply and demand I suppose. It is frustrating for sure. Probably doesn't help that I am looking for a tundra, less of them out there.
Old 09-23-2020, 09:29 AM
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We almost pulled the trigger on a used truck in February but didn’t. Same trucks are probably 6-7k more now than that time. We’re just going to wait it out, prices will come down and they will start making more new ones. People will get tired of payments and trade stuff in on cheaper vehicles. If not, new is cheaper than used.
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Old 09-23-2020, 09:35 AM
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I just bought a new 2020 Ram 3500 DRW with the 6.7L HO / Aisin / Max Tow Package... I traded in my 2018 Ram 2500 Power Wagon with the 6.4L Hemi. That truck was MINT.. 22,000 miles, upgrades... my pay off on the note for the Power Wagon was around $37k... the Dealer gave me $45k for the truck. UNHEARD OF. They sold the Power Wagon the same day I traded it in. The market for used trucks is RED HOT right now. I got a SUPER deal on my 3500 new too. My one vehicle purchase I actually felt great about.
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Old 09-23-2020, 09:37 AM
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It’s pretty insane. My company just traded a 2016 Chevy 2500HD Crew 4x4 LT3 DMax with 99,000 miles. We got $41,000 on the trade, in middle-of-nowhere Kansas. We ended-up there, because it was the closest to Denver we could find the new truck we needed.

That's a 10% premium over what we got for a equally equipped 2015 with only 91,000 miles last December, in a larger market.
Old 09-23-2020, 09:48 AM
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I've been struggling also. I need a f250 or equal pretty bad for my business. 40k for a truck with 200k miles on it or 60k+ for a new one. arrgghh
Old 09-23-2020, 10:30 AM
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The week Corona broke open in the US, my son totaled my wife's car. (hit from behind by another kid who was texting). I went to a friend who was a car dealer and he advised me to wait. He said the car market was going to crash as everyone lost their jobs due to the shut downs...... Seems to have been bad advise. Oh well....

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Old 09-23-2020, 10:35 AM
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2 Weeks or so since I got my new to me 2019 Denali 2500....I feel like I stole it after some window shopping...some crazy ask in used trucks now. Also just sold my 2016 Silverado...cost me 9K and a battery to own it for 4 years.
Old 09-23-2020, 11:01 AM
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I reached out to my friend who is a used car dealer. He goes to auction. And he told me to wait unless I can afford to overpay. I've been waiting for a while, and it seems like it'll never end. It makes new cars seem like a bargain. But I can't bring myself to buy new
Old 09-23-2020, 11:17 AM
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Originally Posted by Parapapam View Post
The week Corona broke open in the US, my son totaled my wife's car. (hit from behind by another kid who was texting). I went to a friend who was a car dealer and he advised me to wait. He said the car market was going to crash as everyone lost their jobs due to the shut downs...... Seems to have been bad advise. Oh well....

Mike
It did crash. There was a delay but there were very few buying for a lot of inventory and in some areas of the country used vehicle prices plummeted. Now it's the opposite and not enough inventory for a lot of people wanting to buy so people could sell their 2-3 year old trucks for the same price they paid (I had a quote for less than 2k under my OTD w/ tax price on my 2017 F-150).
Old 09-23-2020, 11:26 AM
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Jesus. I paid 44K in feb for my loaded 2020 RAM. I wonder what I could sell it for now?
Old 09-23-2020, 11:28 AM
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yes, im about to just give up
wondering if the market will correct itself in 6 months or so
seeing dealers asking $50k+ for 2016 GAS 2500 denalis with some miles on them

if i could warm up to the new styling or if they had done more to the interior it would almost seem that new is the better value
Old 09-23-2020, 11:41 AM
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Was just thinking this same exact thing to myself this morning and was going to post on here, funny enough. Been looking at used Ram 1500's and F-150's for a while, pre-pandemic and still currently and have noticed trucks that used to be in the $17-$18K range are now up in the 24-25K range and what used to be be in the 25K range is up closer to 30K.

Used to see off lease 1500's with like 35-40K miles on them hovering around $25K, Hemi, Crew Cab, Express....since I don't need anything fancy or even with chrome. Now I see trucks with almost 100K miles on them in that price range. Making me think I am gonna drive my old truck for another year and see what happens.

I don't even look at new, I don't drive nearly enough to make that worthwhile.
Old 09-23-2020, 12:16 PM
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I just traded a vinyl floor manual seat 2018 F-150 STX With 70k miles for a loaded 2019 XLT Eco With 48k miles and wrote Check for Less than $2500 for boot......makes zero sense
Old 09-23-2020, 01:36 PM
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Makes me wonder who are buying the used cars when the new ones are just a little more money
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Old 09-23-2020, 01:44 PM
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Originally Posted by 305seahunter View Post
Makes me wonder who are buying the used cars when the new ones are just a little more money
go on Laura GMC website they list new trucks cheaper than some of the used ones lol
makes zero sense
Old 09-23-2020, 01:57 PM
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Originally Posted by 305seahunter View Post
Makes me wonder who are buying the used cars when the new ones are just a little more money
Areas where dealers don't advertise good prices (I have several near me that only every post msrp), small mortgage your life away for $350 for 10 years dealers, people who don't know any better.
Old 09-23-2020, 02:06 PM
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years ago i sold an iphone that was 3 generations old for $190 on ebay, can never figure some people out?
Old 09-23-2020, 02:12 PM
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It is crazy right now I have been looking at it constantly this year because my truck got wrecked in January and I don't like to drive a repaired vehicle. I was offered 45 on a trade for my 2018 Raptor back in March. I finally traded it last weekend and got 58 for it. Dealer has it listed on his website now for 63 which is only 7 less than the original MSRP and it has 40,000 miles AND it has been wrecked.
Old 09-23-2020, 02:15 PM
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Whether it makes sense or not or whether prices are out of hand -- that is the market we have now if we need to be in it.
Old 09-23-2020, 02:47 PM
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I had to take my '13 Land Cruiser in for a seat belt sensor on recall. The sales manager offered me $43K for it. I walked in, looked at the sticker on a new one they had in the showroom, looked at the basic same interior and features and told him nope.

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