Used Truck Bubble about to bust?

[sourdough]

Mention has been made of the skyhigh prices given for used trucks....and they are. Priced mine and it was worth 10k more than I paid as listed in NADA...at avg. trade in price.

Talked to my son yesterday (car broker/dealer) and he agreed. Said yep, my truck would bring NADA avg. trade PLUS 10%.....prior to last week. He was at auctions last week and he said although the used truck prices have been totally crazy they are beginning to iron themselves out and come back to normal. Last week he said the average price for a truck dropped 8% from the week before and they anticipated this to continue. It may or may not come quickly but there's not way it can continue like it is. So if you've been on the fence might want to raise the topic a little higher on the list.

I mentioned just taking it in to trade and order one; he said that would be fine but no one is going to give you todays price on the truck and honor that when the new one comes in months later because the prices are about to drop. Just fyi.

[Gegrad]

I talked to my dealer about ordering a one ton very similar to yours Danny while mine was getting inspected last week... we walked through what I would want, and they went back and looked it up and because they starting to wrap up 2021 and head to 2022 models and other supply uncertainty they couldn't even price one for me. Told me to come back in August after several of their pricing uncertainties would (hopefully) be resolved. A dealer declining to try to sell a truck??? I looked mine up on Edmunds (considered to be the most accurate, you will almost never get NADA in an actual trade, because NADA is considered to be high), and Edmunds (also the lowest priced of the big 3) had mine as 4k more than I paid for it 18 months ago. NADA was at 9k, but again, not generally gonna see NADA prices offered in a trade.

[chuckster57]

3 weeks ago I’m working on a customers truck and a random person drives up. Asks if I was interested in selling my DRW ( tow vehicle in sig) it has 78,xxx original miles. I told him $15,000.00 and he said that’s cheap. Next weekend a couple of guys stop by and ask the same question, I said $25,000.00 and I’d put new batteries in it. They said “a little high but you’ll get it”.

No electronics, no smog…NO sale!! I knew I was asking way too much, but you would be suprised how many people have asked/left notes on my windshield.

[Javi]

I hope you are right, but we're not seeing it in the materials side yet. Prices and delivery dates are still rising.

[Heavy_Chevy]

I just sold my 2005 Chevy 2500HD 8.1 w/165k miles for $15k in 24 hrs after 4 offers. I don’t think it’s cooling off anytime soon. At least in Texas.

[sourdough]

Originally Posted by Heavy_Chevy

I just sold my 2005 Chevy 2500HD 8.1 w/165k miles for $15k in 24 hrs after 4 offers. I don’t think it’s cooling off anytime soon. At least in Texas.

The auction my son was at was in Dallas and he was speaking to other broker/dealers. The downturn in prices was the end of last week but the trend was expected to continue per whatever sources they use.

[wiredgeorge]

Originally Posted by Heavy_Chevy

I just sold my 2005 Chevy 2500HD 8.1 w/165k miles for $15k in 24 hrs after 4 offers. I don’t think it’s cooling off anytime soon. At least in Texas.

Your truck was every redneck boy in Texas dream! Noisy mufflers and a lift kit. If you had a gun rack in the back window it would have gone for $35K!!!

[wiredgeorge]

I did notice the older (2003-2007) F350 work trucks were typically asking about twice what they were when I bought my clunker a few years ago. The 7.3 models were up over $20K if they had less than 300K miles on them. Insanity. Well, guess I won't be buying a truck anytime soon anyway.

[JRTJH]

I bought my 93 F250 diesel (7.3) for $26K in 93 and sold it in 99 for $24.5K. Bought a 99 SuperDuty when they first came out (7.3l turbo) for $36k and sold it for $26K in 2005. Diesels have "almost always" held their resale value and most (or nearly all) the optional cost of the diesel has been negligible. My current diesel, a 2015 F250 Lariat with 65K miles, is worth more now than I paid for it new.....

[dutchmensport]

Originally Posted by JRTJH

...My current diesel, a 2015 F250 Lariat with 65K miles, is worth more now than I paid for it new.....

But isn't that the way is always goes. When the Model-T first came out, it sold brand new for $500. That same Model-T today, even in good condition, sells for $17,000-$24,000 or more!

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