Which Used Pickups Are the Best Bargain?

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If you're in the market for an almost-new used pickup truck, wouldn't it be good to know where the best bargains exist? Yes, it would. Happily, a new study from automotive research firm iSeeCars.com provides that information. It collected data that shows which relatively new used pickups have depreciated the most, making them the best choices for those looking to get the most bang for their buck.

According to the survey, the average new vehicle depreciates 35 percent after three years of ownership, with some of the highest-depreciating vehicles losing between 46 and 52 percent of their value when driven off the lot. However, when looking at just pickup trucks, the much lower average is 23.3 percent.

"Below-average depreciation isn't surprising when you consider the increased demand for trucks," iSeeCars CEO Phong Ly said in a statement. "People tend to use their pickup trucks for work and hold onto them, which limits the supply in the secondary [used vehicle] marketplace."

The study analyzed more than 4.1 million car sales to identify models that have the greatest drop in value over a three-year period (when most leased vehicles re-enter the auto market).

Top Three Full-Size Used Pickup Deals

  1. Ram 1500: $41,803 average price, 33.2 percent drop
  2. Ford F-150: $48,685 average price, 32.4 percent drop
  3. GMC Sierra 1500: $44,284 average price, 26.7 percent drop

The used pickup with the lowest depreciation over a three-year period — drum roll please — is the Toyota Tacoma, losing only 18.2 percent of its value, with an average transaction price after three years of $26,329. The Toyota Tundra has a 22.2 percent depreciation rate (the lowest number of any full-size pickup) and an average transaction price of $32,834 after three years.

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Comments

@Greg Baird--Whatever makes you happy. Don't mind admitting when I am wrong, do you?

Tacoma is a useless vehicle for work or play. Not enough truck. lol

Jeff you are unable to grasp the simplicity of leasing.

I drive too many miles annually to (and work my trucks too hard) to get the best from vehicle leasing.

I leased my wife's luxury car because she rarely drives more than 5 k miles per year and she could afford a BMW. She walks away from the depreciation and has the freedom to exercise her options at the end of the lease period.

Some whose age is a factor gets another benefit---if your health fails or your eyesight is no longer good enough to drive, you retire the lease at the end of the period and you don't have to screw around with selling a car that has declined in value.


Posted by: papajim | Jun 22, 2018 10:32:58 AM

I am 2/3 of the way through a lease right now. I saved about $68/mo vs purchasing the vehicle @ 84 mos. I did a 15k 36 mo lease. For me the math was a wash. If I buy my truck out right I'll have to go 5 year's to keep the same payment ($68 less than if I bought initially) so that would be 8 total years to own the truck. At the end of 7 year's (3 leasing, 4 paying to own) I'll owe about $5,800. Over those same 7 years I saved $5,700 ( $68 x 84) so it was a safe play for me. I think you contradict yourself in your post. You are suggesting that paying $400 (or whatever) a month for a lease over 3 years is not losing money when you turn the vehicle in an have nothing to show for all those payments? And also I'm pretty sure leasing companies aren't losing money. They wouldn't be in business if they lost money, so the lessee is still absorbing some of the depreciation. It's just common sense. For those who want or need a new vehicle every 2-4 years and will have a continuous payment, then they will save money by leasing. Also companies or small business who can use the lease for losses etc.

@Joe B

try reading for comprehension.

I did not say that leasing works for everyone, or that everyone can AFFORD a new vehicle (whether you lease or buy). A better idea for most folks is to sit down with the calculator and decide what you can afford.

Most people let the car salesman tell them, without ever having done the math themselves. Not a good plan.

Leasing is a good way to avoid investing in an asset that's losing money.

For the guys like our friend Jeff S who keep a car 20 years, there is no reason to lease. Jeff is content to accept the loss and spread it out over a long period of time. He takes lavish care of his vehicles, and that works. My dad was the same guy exactly.



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