used truck prices are insane

[chad]

seriously, i was thinking that with all of the economic chaos, i could pick up a nice, used truck for something reasonable. my land rover's days are numbered (head gasket, totally leaking roof, everything electrical shorted out, no ac, etc.).

people/dealers here are wanting $15-17,000 for a used silverado, f-150, etc. with 100k miles on them.

am i insane, or is this really, really, really high? :oo-->

i'm looking at craigslist for private deals, and even they are way over the top. i thought i'd be able to find something for 7-9k, nothing going. :-[

[Ponce]

Come on down.......to my Mickey Mouse of a town, trucks are all over the place and I think that they are stolen because of the asking prices.

[big country]

That is what I've seen. My dad bought a Chevy that was used 2 years old with like 30k miles, its a big truck like a 350 size dually and he paid $35k for it, pretty sure new it was like 50k or more.

We looked all over for SUV's and other AWD cars for my wife about 3-4 months ago and I didn't notice any "cheap" cars. Rav4's with 100k miles still asked 14k for them, Subaru's all priced high, 120k mile outbacks for 10-12k.

I haven't noticed prices dropping so we just decided to keep what we have...

[MNeagle]

Come on down.......to my Mickey Mouse of a town, trucks are all over the place and I think that they are stolen because of the asking prices.


Where is Agnut Ponce? He called this months ago....

[Dave Thomas]

People on cragislist are indeed insane. When it comes to depreciation, people tend to get a bit fuzzy in the head. Value is strictly set by who is on which side of the transaction.

Bring cash.

[Ponce]

Spoke with him this morning..........nothing new.

[LuckyStrike]

I attribute this to morons getting 5-7+ year loans on a car and putting little to nothing down so even after 1-2 years they still owe a ton on the vehicle.

[Cebu_4_2]

I saw the same thing so I decided to put my old 4x4 Silverado up on the list. Needs a battery and maybe gas and couldn't even get any attention unless I dropped to 500 without them even seeing the thing, even for parts. Worth more parked as a second vehicle. CL people are strange on both sides, reminds me of the people of wallmart sometimes. My truck has the newer roller motor with about 20K on it, new 4:10 gears, locker rear end, rebuilt transfer case and replacement trans... sigh. 500 bux? WTF?

[undgrd]

Cash for clunkers trashed so many good used cars the value of the remaining ones went up.

[agnut]

Hi Chad. Might I suggest that you look for an older truck ?

I recently bought a 1990 Dodge 1 ton truck with a Cummins diesel. Loads of power and it gets 24 MPG on the freeway. It is in excellent condition with a Brahma canopy, a rebuilt 5 speed transmission, new clutch and a recent brake job. Nice paint and interior. I paid $2600 from a private party.

I had had a similar 1992 Dodge diesel truck 6 years ago and bought it for $3000, drove it for a few years and then sold it for $6000. All I did was change the oil and filter.

I know, the prices for later used trucks are ridiculous. They are probably playing off what it costs for a new truck (even more ridiculous).

New, nearly new or older, the important thing is that it will be reliable transportation. And not that it impresses others. Besides, because I don’t have much money in my truck, I only insure it for liability. And theft of my older truck isn’t as likely; at least in my estimation.

I did have to look for some time to find just what I wanted. Patience REALLY pays off.

Hope this helps. If I can help further, PM me.

Best wishes,

Agnut

[Gypsybiker45]

I work at a GM dealer and heres what is happened, the Cash for clunker program decimated the 10 yr old truck market, combined with the credit freeze, New car sales slumped badly, traditionally new cars are easier to get a loan for, but not right now, things are improving but the Wholesale prices of cars has went way up, the dealers have a lot of vehicles they paid high prices at auction the past few months and will not deal at a loss. New cars unsold are no big deal, they arent owned by the dealer, but the used ones are. a Dealer that bought a truck for 10k last month will not sell it for cheap right now, as its their own money. My f150 i bought for 10k retail two years ago, is worth 11k on the wholesale market right now! (similar trucks sold at auction lately)another consideration is the time of year. feb-may is higher price time for the 3-6k market, why? Tax season! many people get massive refunds (EIC,etc.) and one of the things they often buy is a better used car to replace the 88 cavalier they have been milking along. all in all with everything combined, right now is a BAD time to purchase a newer used vehicle, my advice is to wait until around aug. fuel prices wil be way up by then, and "free money" from Uncle Sugar will be gone and then suvs and trucks will have to be less.

[Johnny Ringo]

Even before Cash for Clunkers, the used truck market was crazy here. Everybody says only idiots buy new. Okay, color me stupid. I could not find a truck with less than 40k miles with the same equipment for less than I paid for my Silverado 4x4 last year.

Blue Book (FWIW) is still more than I paid for it out the door - no money down. I got $5k dealer cash, and about another $4k from other rebates that I wouldn't have gotten buying used. Less money, and I'm the first owner. Works for me.

GB's right - it seems to have gotten worse since Cash for Clunkers. Used truck prices are still crazy-high here.

[General of Darkness]

I've been wanting a 73 Bronco for awhile and prices are crazy. :boohoo

[chad]

good to see i'm not losing my mind. i figured cash for clunkers had something to do with it, but i didn't imagine so much. car prices have literally gone insane.

[Glass]

I've been looking for a 4wd pickup for a couple months now. We have a mining boom on down here and pickups are holding near new prices for the 1st 2 years. Full body Fourbys are selling at 75% retail after 6 - 10 years. Crazy I tell ya. Still looking but there is not enough pain out there yet for good deals. They will come. Hope I have some powder still. Should do.

[Rebel Yarr]

I picked up an F150 w/ 8k mi - small xtra cab - 2wd - everything manual for 10k 2 years back. I hear prices on used vehicles are staying high on some models/types due to higher demand for used vs. new.

you step into 4wd or large xtra cab/options and the price rockets up.

[chad]

yeah, that's part of it. i need an extended cab to put my kids in the back.