2018 Looks Promising for Used Pickup Prices

 

  IMG_5443 II

The year 2015 was a good one for new pickup truck sales. Not only was the most popular pickup truck — the Ford F-150 — completely redesigned inside and out, but the top-selling mid-size, the Toyota Tacoma, also benefited from a significant redesign. Add to that the debut of Nissan's segment-splitting Titan XD, and the fact that the both the Toyota Tundra, Chevrolet Silverado 1500 and GMC Sierra 1500 were just a year away from their model-year 2014 redesigns, and you can see that 2015 offered new-truck buyers had many solid choices.

Now many of those pickups purchased new in 2015 with aggressive lease deals will be entering the used market in 2018.

Automotive News (subscription required) is reporting that some experts are predicting 2018 could be one of the best years to purchase a used pickup because so will be returning to dealerships or entering the used-truck market. More supply likely will mean lower prices.

AN also reports that some experts believe the off-lease pickup and luxury SUV markets could grow as much as 30 percent in the coming year, which means pricing will favor savvy consumers, but they'll need to shop around.

Smart shoppers looking at the strongest players in all three of the light-duty pickup classes — mid-size, half ton and heavy duty — are likely to benefit, but keep in mind new-truck dealerships also will be hungry to make deals to move out-of-date inventory, especially in the last quarter of the year. Shop wisely.

Cars.com image by Mark Williams

 

Comments

It's hard to buy a 2 year old pickup for less then a new one. With factory incentives and rebates you can get almost 15K off on new trucks. On top of that pickups hold their value more then say a sedan so the values are still pretty high.

@Jim

Sorry but I have to disagree. Pricing depends on local factors. If dealers have too much of a particular vehicle type in relation to demand, they'll be ready to deal.

When dealers are selling/leasing new vehicles they have time on their side because the manufacturer helps them with incentives and financing.

Used vehicles are 100% dealer owned, no floor plan.

Off lease returns may be an exception, but trade-ins and cars they buy at auction are fully owned. Unless local demand is really high, they're ready to deal.

This is great news, but I will believe it when I see it. Many of the pre-owned certified vehicles I have seen are not that much different in price. I have seen a few that are good buys but they don't last long. There was a 2015 Colorado certified pre-owned with about 61k miles for $14,400 with all the maintenance records but it was gone within a couple of days. Miles were a little high but if it was properly maintained which I assume it was then it was a good buy at that price especially since the dealer was offering an extended factory warranty. I wouldn't want to go too much above that mileage but with as little mileage as I put on a vehicle that would have been worth looking at but I am not in the market for a truck.

Never forget that CPO only covers defects in materials or mfg. Wear & tear is not covered. At over 50k miles most problems are wear/tear related, not due to mfg issues.

Never forget that CPO only covers defects in materials or mfg. Wear & tear is not covered. At over 50k miles most problems are wear/tear related, not due to mfg issues.

It usually takes a few more years and miles to make a real price difference in 4x4 trucks.

At the dealership I worked at we often had nearly new "certified used" full size 4x4s for sale that were as much or slightly more (after incentives) than NEW fullsize trucks on the lot.

The only real advantage they had was that being "certified" they actually got MORE additional warranty coverage than a NEW identical contemporary sitting across the lot. So for nearly identical money you could buy New and get a 3/36 bumper to bumper or buy a 2 or 3 year old truck with 25ishK miles on it and with 100K of warranty coverage

Most opted to go new.

There should be great deals on used trucks out of TX, FL and PR too...

hard to buy a 2 year old pickup for less then a new one.
----

This is fake news.

You might be able to save a few bucks at sale time on a slightly used truck but a new truck will be cheaper in the long run with higher resale and in having less maintenance/repairs. You typically don't have to spend any money for the first 40-50K. If you already start with that you are talking tires, brakes, fluid changes which all cost money.

@Andy--I would buy a new truck over a 2 year old one unless I got a significant discount. Most of the used trucks that are 2 years old or less are not that much cheaper.

@papa jim--If the truck has been properly maintained 61k miles is not that much. Most vehicles are designed to go 100k before needing tuneups. You can always pay to have a vehicle inspected by an independent mechanic. Most Colorados/Canyons that are 2015s with lower mileage go for 20k or more and at that price I would buy new. It depends on what you want and the vehicle itself. I would never buy anything without looking at it and test driving it. Even if a vehicle is certified pre--owned it is still a used vehicle. Most used vehicles require some replacement of items due to wear and tear. I would expect a vehicle with 61k might need at the very least new tires unless they were replaced, but I would never buy it until I had it inspected. The Carfax report looked good on the Colorado but I would not trust that without an inspection. Again if I was looking I would have looked at that truck because it had everything including cruise, remote locks, automatic and a few other things that were not the base model. It went within a couple of days of posting so it must not have been too bad.

A guy at the gym who has 5 used car lots, saiid they are hurting with all the cars coming off of leases.....

@Dave--There are already a glut of late model cars coming off of leases. If you want or need a sedan especially midsize and compact now is the time to buy a late model one.

Prices are falling quite a bit. Was looking online a couple days ago. My last truck was new. I won't be buying new this time.

It's not a 2015 but my local Ford dealership has a 2016 Ford F-150 XLT 4WD SUPERCAB 5.0 with chrome package and some other options,has 30,031 miles on it for $$27,590

The article didn't state you had to buy a 2 year old one which would be a 2016, but that prices will fall. I am looking at 2014s in the $19 to $21.5 k range. The new trucks MSRP for $44.5k+ That's a big difference even with 20% off new MSRP. Buying used for the same as new may happen to some folks but in my experience it is hearsay.

Other than the hurricane-flooded trucks hitting the used market.....i might buy a used one if in decent condition and they offered a $0.54-per-mile discount vs what I could buy a new one for at fair market price.

Good point. Watch out for those hurricane flooded vehicles.

Poopajim and Chris can get you a great deal on a flood truck.

No one here has mentioned financing. Financing + cost + vehicle is what pushed me to start buying new . Hard to get 0% financing on used vehicle

@Rowdy Douillardf--Excellent point. Zero or low interest is a great incentive to buy new especially when the savings on many pre-owned vehicles amounts to a thousand or two. For me I would need more than that to buy a pre-owned vehicle--but I am open when the best vehicle that meets my needs at the best price.

@Jeff aka Trucker aka Big Truck, Not so great of a point in actuality. It depends on the deal, but papajim taught me zero interest loans means you give up factory incentives. You don't get 0% and all of the rebates. It's better to take the incentives if you have to buy new.

What's funny about those 1-3 year old trucks is they depreciated like crazy the moment they were driven off the lot when bought new. However the dealer built profit back into that depreciation and that's where buying used in that age range really screws you. I won't touch a 1-3 year old truck unless it's $10,000 LESS than a comparable new one (after rebates). Dealer makes more on used than new so why pad their pockets anymore than you have to?

This is great news, but I will believe it when I see it. Many of the pre-owned certified vehicles I have seen are not that much different in price.

@Jeff S

NEVER believe the advertised price. Used trucks are heavily marked up.

You have to do your homework, save it to your laptop or smartphone, then arrive at the dealership ready to spend hours negotiating. Tell the salesperson that you aren't sure whether you want to buy new or used---you just want a great deal.

Once the sales person has spent an hour or two trying to sell you a truck, they are committed.

You have to dominate the process. Don't answer their questions---make them answer YOUR questions. They will.

Do not discuss trades or financing, save that for last.

@papa jim--Agree, good advice. I do negotiate.

@Jeff S

I still think you might be a little confused.

Advertisements for cars in the paper, or online, only have ONE objective---to get you through the showroom front door with a checkbook in your hand. They use all manner of bogus numbers and camera art to do it.

It's just the way it is. Don't think that you know the price for a new OR a used car until you've crossed swords with the salesman AND his boss

My Grandfather drove to San Antonio to by a new '56 Chevy. He negotiated a great price because they assumed they could recoup their profit from the financing. He didn't tell them he would be paying cash until the deal was done.
Pretty good for a sharecropper that didn't finish H.S.

Like her dad, my mother did this with the last 3 cars she bought.

I thought the best route would be: invest the cash and go with the zero finance rate. I didn't know she would have to pay sticker price to get the special rate.

@papa jim--I know I have done that on my purchases. It works better on American brand vehicles and South Korean ones. Honda and Toyota are much harder to get anything off. I haven't dealt with the German vehicles but then I don't look at them. I know that Nissan will negotiate. I have tried it as well on other things like appliances and furniture and have gotten a discount. Usually the bigger markup the more willing the seller is to take off. The worst thing that can happen is they say no and you walk, but if they haven't met their quota they will counter. I always counter with a cash offer. I negotiated with the dealer for my Isuzu for over 10k off and got the dealer to throw some additional items in. The Isuzu was a full loaded vehicle with only 5 miles on the odometer (I put an additional 10 miles test driving it). I got a brand new crew cab 4x4, heated leather seats, power windows, power everything, fog lights, tow package, with everything except a DVD player for 21k. That was one of the best deals I have ever made on a vehicle (never been used). I had to get the actual owner involved in the negotiation and yes he was the actual owner of the dealership which was small and independent. His younger brother has the franchise for Ford and Chevy.

All financing agreements have a cost. There are administrative costs, insurance costs and commissions to be paid. Zero rate or not.

Either the dealer is paying, you are paying it, the bank is paying or the automaker is paying it.

The automaker NEVER pays it. The bank NEVER pays it.

The dealer is not ever likely to pay it, which leaves YOU.

@ Stevador--My granddad back in the 50's and before use to go to Detroit and buy trucks and cars at a significant discount. When he did buy local he would look for the stripped down pickup without a radio and get a bargain because the dealer wanted to get it off the lot. My granddad always had a nice car but he would buy a strip down truck because his help would drive it and he didn't want them spending their time listening to the radio and driving it for pleasure. His pickups were real work trucks with a straight 6, three on the tree, regular bed, all gauges, hub caps, with the only extra equipment being a heater. My granddad always had a medium sized commercial flatbed truck with a stake bed and tilted bed that he used to haul grain and cattle. He had a 53 Dodge and then a 68 IH Loadstar both gassers which he both bought new. The IH had tandem axles.

My granddad would always but last years pickups after the new models came out. The dealer always wanted to get rid of those trucks and for cash they were more than willing to sell him the truck.



Post a Comment

Please remember a few rules before posting comments:

  • Try to be civil to your fellow blog readers.
  • Stay on topic. We want to hear your opinions and thoughts, but please only comment about the specified topic in the blog post.
  • Your email will not be shown.

If you have a TypeKey or TypePad account, please Sign In

Home | Buy or Sell a Truck | News | Special Reports

Powered by Cars.com. By using this site, you agree to our terms of service | © 2017 Cars.com | Privacy Statement | Contact Us