Used Pickup Prices Stay Strong

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If you're in the market to sell your pickup truck, there's good news: You likely won't have to discount it as much as your neighbor selling his compact sedan.

According to AutoRemarketing.com, data suggests that used pickup prices are likely to stay strong because all the major truckmakers offer new pickups and dealerships are hungry to have more — new and used — high-profit pickups on their lots. In fact, prices for the used-truck market are increasing just slightly, making it a seller's market, while the industry average is falling fast.

While prices for used compact and midsize SUVs are falling by close to $100 per week, the average sale price for a midsize used pickup climbed $22 last week; full-size trucks gained just $3. As more truck owners hold onto their pickups, prices are likely to continue to slowly grow, possibly increasing demand, for the next few months.

Cars.com image by Mark Williams

Comments

It only makes sense that the prices on used pickups are going up. Just look at what they want for a new one.

Yeah prices in used trucks is ridiculous. The savings over new are no longer there. Trucks even with 50,000 miles are priced over $30,000! You can get a brand new truck down to the mid $30's with rebates. The real kicker is if you try to trade in your truck they won't give you anything for it (where'd the resale value go??) but as soon as they put it on the lot it's worth gold! Used prices might be good for dealers but the low balling for trade ins is at an all time high.

It's frustrating looking for a pickup when the used trucks with 60,000 miles are literally more than I paid for a brand new truck 6 years ago.

Oh, and there weren't any shenanigans with trade-in or loan APR numbers either. Straight cash homie.

I bought a use 1998 GMC 1500 with the 5.0L about a month ago, with 342,000 miles on it for $650 bucks. So far put $700 in it, I rebuilt the engine, and did the rockers/cab corners. Only thing left to get or find is a Chevy grill for it. 1,400 bucks sure beats 30,000 any day, plus I don't have the dumb crap like traction control and other such things to deal with that I don't want anyway.

I don't know if I can fully agree with this article. If you are selling outright as a private owner, it's tough to get a good/fair price on your used truck. People want to steal it away. If, for heaven forbid, you decide to trade it in at a dealer, they will insult you with a black book offer or give you a somewhat "fair offer" only to make the loss up on the back end of the deal.

The rationale here is that a new truck is a better deal than some few year old used truck unless you can find a steal of a deal. That's the logic people have in the used truck market and I don't see it changing anytime soon.

In addition, the mileage of trucks and cars is crazy around here. It's hard to find a few year old example with low or decent miles. I have an 05 model year truck with 42K original miles and that's typically unheard of in the used truck or car market.

I've got a 2011 Chevy Silverado extended cab, with 48K miles on it. Beautiful truck, Z71 w/o 4Wd. Victory red, not a scratch on it. Toneau cover, pipes, grill guard, nerf bars. Brother-in-law offers $21k. He did a lot of shopping, so I guess prices were pretty high. No sale; too nice a truck. Don't see anything out there to make me sell.

I watch the used vehicle market very carefully.
It depends on the make and model.
You can get a well equipped used 2014 Ram 1500 4x4 for $25K with less than 10,000 miles at the same time a similar used 2014 F-150 goes for $30K.

The used vehicle market is simply a supply and demand, there are twice as many used Ram 1500's out there for sale used than F-150's
The used dealer simply demands more for the limited supply.

I don't want to cause a fight but owners simply don't get rid of trucks they love and enjoy and want to keep,,,,,,, so the trucks that nobody likes end up in large supply at the used car dealers.
Hate to say this but its almost impossible to find a used Honda Ridgeline for sale because owners love them so much they don't want to trade in, get rid or sell them.
The Toyota Tundra is another rare bird.

The cars and trucks nobody likes flood the used car market

@Tom#3

I'm not sure your logic adds up. There are twice as many used RAMs out there than F150s so the value of the RAM is less?

That doesn't even seem possible considering Ford absolutely destroys Ram in terms of new sales which would indicate there are far more used F150s available. The difference in used price is more likely related to the RAM being heavily rebated initially or a lower demand for the Ram on the resale market because of perceived quality or functional differences compared to the F150.

clean late model trucks with popular options are really scarce in my area. You cannot find a Ram, a Titan or a Tundra used in clean condition period!

Late model GMC trucks are so high you may as well buy a new one.

There are tons of f150s but many of them have V6 engines, not a popular choice. A two year old crew cab F150 XLT with a 3.7 motor should not be an arm/leg but they are. And they're abundant. Forget finding a 5.0 V8 Even the outdated 5.4L XLTs from 09 and 2010 are fetching high prices.



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