If you own a used pickup truck in decent shape, you might want to hold onto it for a little while, especially if you're contemplating selling it. It might be worth more money than you think. More accurately, your used pickup is not depreciating nearly as fast as other automobiles in the U.S.
According to Automotive News, used pickup trucks are holding their value better than just about any other vehicle segment. Experts from the NADA Guide, Kelly Blue Book and Black Book say a growing economy, an improved housing market and a relatively low supply of used pickups (less than 9 years old) in good shape contribute to the slower depreciation of pickups.
In fact, prices for a used pickup truck less than 9 years old have dropped only 1 or 2 percent during the last year, when a typical drop can be as much as 10 to 15 percent. That's good news if you want to sell your truck in the near future. Of course, there are other geographic and local-issue variables that can affect prices, but generally speaking, this news is good for those looking to sell.
As for those looking to buy a good used pickup, as new-truck sales continue to climb, we'd expect more late-model pickups to enter the marketplace as trade-ins, eventually reaching the tipping point that will cause used-truck prices to drop to more reasonable levels.
To find the latest pricing information for both new and used pickup trucks in your area, use the Search For a Truck feature at PickupTrucks.com.