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Record used truck prices

are people keeping trucks longer now? Im only 36 so i dont have a whole shit ton of time to reference.

I know between my wife and I the newest out of 5 vehicles we have is 2003. 3 years ago we had 2 2017's. Driving old shit thats payed for now.
 
Levigarrett76 said:
are people keeping trucks longer now? Im only 36 so i dont have a whole shit ton of time to reference.

I know between my wife and I the newest out of 5 vehicles we have is 2003. 3 years ago we had 2 2017's. Driving old shit thats payed for now.
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Based on what I’ve seen on Facebook, no. Go to any brand page and I’m sure you will find people swapping last years model for the next one.
 
Levigarrett76 said:
are people keeping trucks longer now? Im only 36 so i dont have a whole shit ton of time to reference.
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I'm shooting to get ~15 more years out of my truck. My kid will probably take it over when he's getting his license. By then it'll probably have 2x3s for rockers and coil stock over the cab corners, but whatever. :laughing:
 
I see the yuppies constantly buying new shit. I work in Yuppie hell (alpharetta, GA)

But it also seems like folks are trying to hold on to some pre 2010 and mostly 2007 trucks as long as they can. I know its the way of the future but some of us just dont like all the complication necessary for "luxury"
 


Cliffs: In about 3 years, when the people who bought at today's inflated prices go to trade in and upgrade again, they will be so under water in their loan that they will not be able to.
 
DannyK said:


Cliffs: In about 3 years, when the people who bought at today's inflated prices go to trade in and upgrade again, they will be so under water in their loan that they will not be able to.
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So, CL is going to be looking pretty good in three years then?
 
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DannyK said:


Cliffs: In about 3 years, when the people who bought at today's inflated prices go to trade in and upgrade again, they will be so under water in their loan that they will not be able to.
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Exactly why if you're in the market, buying new is the only smart option. You get way more for your trade in and new prices haven't changed since i bought mine in '18. My truck was 62k and change, new truck is 62k and change. The only difference, the new truck is getting bose system in it:smokin:
 
DannyK said:


Cliffs: In about 3 years, when the people who bought at today's inflated prices go to trade in and upgrade again, they will be so under water in their loan that they will not be able to.
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this is the same bullshit I heard about home prices seven years ago. i keep waiting for that big bubble people predict and hope those people are ready to come out showing off how much they knew.
 
I've got an 06 2500 Cummins 2wd I need to sell off or trade in. Guess nows a good time.
 
Sterlingfire said:
Exactly why if you're in the market, buying new is the only smart option. You get way more for your trade in and new prices haven't changed since i bought mine in '18. My truck was 62k and change, new truck is 62k and change. The only difference, the new truck is getting bose system in it:smokin:
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Soooooo the guy spending $62k on new is smarter and going to be in a better spot in 2-3 years than the guy who spent $6,200.00????

You must work in sales?????
 
I just got 32k trade in on my 2015 2500LTZ that had 100k miles on it. When I bought the vehicle two years prior I got it for 36k with 55k miles on it. Pretty outrageous what used is going for right now.
 
One thing I have noticed is people are putting a shit ton of miles on them before either selling or trading. It's crazy.
 
DannyK said:


Cliffs: In about 3 years, when the people who bought at today's inflated prices go to trade in and upgrade again, they will be so under water in their loan that they will not be able to.
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As per tradition, just even worse. I give it till this fall till you see it fall off.

GMs I know said they have their allocations and see the used falling off soon. We're living in east Berlin at the moment.
 
Gregj50!!!!! said:
Soooooo the guy spending $62k on new is smarter and going to be in a better spot in 2-3 years than the guy who spent $6,200.00????

You must work in sales?????
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Well, if you need the vehicle now and can't wait 2-3 years for the "in case" prices go down, you're an idiot to spend 6200 on a used one.... so my answer is yes, the guy spending 62k on a brand new vehicle(that is the same price as the exact vehicle 3 years ago) is more intelligent than the guy spending 6200 on a vehicle right now because that 6200 vehicle was only worth 3200 3 years ago:homer:
 
Sterlingfire said:
Well, if you need the vehicle now and can't wait 2-3 years for the "in case" prices go down, you're an idiot to spend 6200 on a used one.... so my answer is yes, the guy spending 62k on a brand new vehicle(that is the same price as the exact vehicle 3 years ago) is more intelligent than the guy spending 6200 on a vehicle right now because that 6200 vehicle was only worth 3200 3 years ago:homer:
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That 6200 vehicle probably was only worth 3200 last year....

With the depreciation going so flip-floped now its hard to justify not clearing out any depreciating assets and killing your buying power. If you could sell back a truck at 62K at 64K and buy a 6.2k beater you are comfortable with go for it. Let the bubble pop with someone else holding the bill.
 
I'm so happy I bought my truck when I did. No way I'd be dealing with this bullshit now.
 
ckupq said:
That 6200 vehicle probably was only worth 3200 last year....

With the depreciation going so flip-floped now its hard to justify not clearing out any depreciating assets and killing your buying power. If you could sell back a truck at 62K at 64K and buy a 6.2k beater you are comfortable with go for it. Let the bubble pop with someone else holding the bill.
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You are right. I was being dramatic:laughing:

Anyway, my scenario is as follows

Bought new truck in 18 for 62k otd.
Ordered new truck this
2 weeks ago for 59k otd...(gm discount)
My truck is being traded in with 101k on it for 47k. It's not in the greatest shape, it's a work truck and i use my work trucks like i stole them:homer:
New loan will have 250 lower payments, will only be 3 years and for 40k... even with interest the old work truck only cost me 4k per year to own. No 4k truck will last through the life i give them for over a year without major work(especially in this market). The fact that i don't have to fix or rebuild anything on the weekends on my work truck is worth the price, even without this market fueling my ability to trade in and buy new again...
 
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woods said:
So, CL is going to be looking pretty good in three years then?
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Nope!:emb:
Clist is always gunna be Fubar (tween the amoron (american) pickers mentality and the scammers and the flakes...)
But it looks like I should list my v series square body quad cab 4x4 And go buy Hawaii:lmao:
 
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TRINDU said:
Where should i start sending all these trucks for 100%+ profit? I only accept cash :flipoff2:
Click image for larger version Name: trux.png Views: 0 Size: 97.9 KB ID: 168412
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I'd give 10-15k for a 06 crew cab long box ls or lt 3500 with an 8.1l. depending on mileage and condition.

I did an Autotrader search and found 2 under $20k, both over 200k miles, 1 was dually and the other in the rust belt.


My hangup is I will only buy a cclb. Short boxes are useless, and my kids are 5'+ so the extended cab is useless for another 10 years. Also needs to be 3500 because I can legally tow a boat behind my 5th wheel only with a 1 ton or higher rating by state law:homer:.
 
ConwayMuddy said:
Called about an 02 yukon Denali. 220k miles, reman transmission, a/c worked but was stuck on heat, autoride or whatever fancy suspension didnt work, newer tires, didnt like to go much over 55mph, some rust but no major rot that I saw in pictures, burned a quart every 3000, other minor stuff, asking $3000. I passed. I can go buy something slightly newer with less miles, for less money at the wrecking yard.
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Shit, I'll sell you my 03. 252k, doesn't burn a drop in 8k miles (usually when the cluster says 10% life), ac compressor is seized, tires are 90%, no body rot (clear coat is starting to flake), air suspension deleted (who needs $1600 in shocks?), it will still do 112mph (I may have verified this last week, allegedly).

Seat heaters need replaced (seat base portion cracks over time from sitting on them), but the DVD player still works along with the second row heated seats! :laughing:

And no piston slap! Just an exhaust leak on both manifolds where the bolts broke.:flipoff2:
 
Chevy_man said:
I'd give 10-15k for a 06 crew cab long box ls or lt 3500 with an 8.1l. depending on mileage and condition.

I did an Autotrader search and found 2 under $20k, both over 200k miles, 1 was dually and the other in the rust belt.


My hangup is I will only buy a cclb. Short boxes are useless, and my kids are 5'+ so the extended cab is useless for another 10 years. Also needs to be 3500 because I can legally tow a boat behind my 5th wheel only with a 1 ton or higher rating by state law:homer:.
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Goodluck.

I've found some <05 crew shortbed 4x4 with <150k. No long bed though.
 
I bought my 2500 diesel ram new in 2014. I had every intention on putting at least 300,000 miles on it. I’m at 200,000 now. I’m glad I’m not in a position of needing to buy a new truck. Mainly because the new ones simply aren’t available. I will wait this out for another couple years. Then start again with a fresh new truck.
 
TRINDU said:
Goodluck.

I've found some <05 crew shortbed 4x4 with <150k. No long bed though.
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Mileage isn't that big a deal. My Denali has 252k and I've done nothing other than a water pump and a radiator on the 6.0. I might have changed plugs once, can't remember. I wouldn't be scared to buy a 200k+ mile truck in good condition to tow my camper 3-5000 miles a year.

The 8.1 was the best big block gasser, but I swear they only put it in lt2 ccsb and avalanches for some reason. It should have been in every 3500 by default, and the 6.0 left to the 2500 crowd.
 
woods said:
So, CL is going to be looking pretty good in three years then?
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Nope, it will be looking worse. These vehicles getting bought now will be the 3-4 year old truck the guy owes more than it's worth. I'm guessing the number of vehicles owned outright is getting fewer and fewer. Most of the stuff that actually sells on craigslist private party is owned outright and sold cash. There's a price ceiling where most people go with dealers instead of private party because it's a lot easier to get financing and it's a lot easier to get rid of a vehicle you don't own outright to a dealer. You used to be able to find $500 beaters everywhere, now they are $2,500 beaters, as the cost of beaters go up the more people are going to need to finance and will go to dealers for easy financing. The more this happens the fewer vehicles there will be on the private party market.

That video is actually pretty good explaining the numbers game and explaining why the average person is going to be stuck with their car longer. Leasing isn't for me though their justification for leasing now starts to make sense if you want a new car every 3-4 years.

The one thing they don't mention is I believe supply is down so used car supply will be down when there aren't as many cars to trade in so it might keep propping used car prices up.

I paid $11k for my poverty package extended cab/ long bed '01 4x4 8.1 with 103k on it in 2012. It's at 200k now with faded paint and hail damage. It's probably still worth $6-8k if not more in it's current almost 20 year old beat to crap state. They are great trucks with the typical early 2000's GM issues though I'd rather slap wheel seals and oil cooler lines on it every 5-10 years than deal with a $70k truck payment.
 
Levigarrett76 said:
are people keeping trucks longer now? Im only 36 so i dont have a whole shit ton of time to reference.

I know between my wife and I the newest out of 5 vehicles we have is 2003. 3 years ago we had 2 2017's. Driving old shit thats payed for now.
Click to expand...


They say cars on the road today are older then ever before. I forget what the average was, something like 9 or 10 years old. In my head a 2010 model year is still like a brand new vehicle.
 
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I knew a guy who paid $6500 for a 99 4x4 7.3 extended cab this winter. I said he was nuts. I then bought a 99 crew cab 4x4 7.3 for a parts truck price-real cheap but it ran and drove. He says to me that my truck is worth 7K-ish. I said he was nuts. Mine runs and drives and other than a few issues is fine. I think I will keep it. My answer to the whole new truck thing was to go the opposite way. I bought a totally virgin 89 Cummins. I got 11 years out of the last one that was destroyed this one should last 20+.

Newer vehicles kinda suck to work on and I just don't see how a person is going to get 20 years out one. If for no other reason than degradation of electronics etc.

Locally I see 7.3 Fords asking over 20K all the time. Just nuts.....
 
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