2 year old truck value went up?

[DeadSalmon]

I had a 2019 Suburban that I bought used in October of 2019. Paid 42500 with about 26K miles. Traded it 18 mos later and the dealer gave me 41! I paid $1500 to drive it for 18 months…. Still managed a good deal on the 2020 to replace it…. Crazy world indeed.

[mlj427]

2 week ago I saw a new F150 that I liked after hours so later that night I went online and checked the price of my 2003 2500HD Duramax, Allison, crew cab, and 125000 miles. They came back at $7000 but I am seeing others listed on line with twice the miles going for over $15000. I wish they would call and ask about the deal I would ask what part they want to buy for that price. Need to go to the dealer and see.

[checkmate]

Originally Posted by FrankG

At some point we are going to run out of other peoples money and this runaway inflation will end.

I’m fairly sure there is no runaway inflation going on, let alone inflation in general.... unless I’m misinterpreting your quote. It’s simply a matter of supply and demand right now, Frank.

[MuddauberE]

Originally Posted by oxcamper

Used trucks (other than 1/2 tons) are an extremely rare commodity here in NE Ohio.

I just bought a new 2500. It took a couple months to find it and another month to wait for it to be shipped. I had to buy it before it even left the manufacture lot in Michigan. All the HD trucks are sold before they show up on the dealer lot. I think this is why the used ones are so valuable right now. People want them and will pay a lot for them. I’m in Cincinnati Ohio. I don’t think it matters where you live in the US. You will have to work for a new HD.
I was able to work an excellent deal where they gave me more than I owed on my 1500 and I bought the HD at dealer invoice price due to a first responders discount.

Campers are also hard to find and I have already gotten offers on mine. No plans to sell but I think maybe that’s why 2500s are hard to come by, other than a chip manufacturing issue, all the camper lots are looking empty and people need trucks to pull them.

[rwriley1053]

There was a fire at a chip manufacturer somewhere. Both Ford and Chevy are building trucks and parking them until they can get the chips. In a few months they will have the chips and a bunch of trucks are going to hit the market. I'm sure it will take a few months for the market to shake out, but then we are going to see a big sale on trucks.

[HappyGuy]

Originally Posted by mlj427

2 week ago I saw a new F150 that I liked after hours so later that night I went online and checked the price of my 2003 2500HD Duramax, Allison, crew cab, and 125000 miles. They came back at $7000 but I am seeing others listed on line with twice the miles going for over $15000. I wish they would call and ask about the deal I would ask what part they want to buy for that price. Need to go to the dealer and see.

Don't trade your truck. It is a unicorn these days!!! Pre-DEF trucks like yours were going for 20k+ in good condition different places in the country before all of this. There are shops dedicated to reconditioning pre-defs. If you don't need the truck do some hunting online to find the places where your rig has the highest asking price. Autotempest is a good place to start. Then advertise on a site that is crawled by Autotempest and price a few grand under that local price. You can also search the diesel forums and see what your truck is selling for on those sites. After you list your truck you can post the link there as well. It is very much worth your time and money to address all maintenance and cosmetics. You'll get every dime back and more.

[dryflycaster]

Originally Posted by frankg

at some point we are going to run out of other peoples money and this runaway inflation will end.

!! Bingo !!

[velvethippie]

I bought my 2003 7.3L Ford F350 in 2006, for $25k. It has 76k miles on it now, and somebody offered me $35k for it yesterday 😳😳😳

[jd-ford-hd]

Originally Posted by FrankG

At some point we are going to run out of other peoples money and this runaway inflation will end.

Nailed it.!

[KnP]

I am tempted to sell my 16 Colorado, hold the cash and wait for the chips to get back into production and scoop out a newer one at a lower price due to oversupply.

Kind of selling on the tip and buying on the dip.

[KyDan]

Originally Posted by KnP

I am tempted to sell my 16 Colorado, hold the cash and wait for the chips to get back into production and scoop out a newer one at a lower price due to oversupply.
Kind of selling on the tip and buying on the dip.

That could work but.... do you need a truck in the mean time? I believe the crazy prices will eventually stabilize and come down somewhat but how long will that take? It could be months or possibly next year. If you can wait that long ... go for it.
Consider it like stocks. You don't make money when your stock goes up. You only make money when you SELL your stock while it's up!
Good luck!

[ppine]

Remarkable.
Now is a great time to sell anything.
2002 Ford is going up in value with a 7.3 liter engine.
It is currently worth over half what I paid for it in 2002. Soon it will be two thirds of the price paid.

[KnP]

Originally Posted by KyDan

That could work but.... do you need a truck in the mean time? I believe the crazy prices will eventually stabilize and come down somewhat but how long will that take? It could be months or possibly next year. If you can wait that long ... go for it.
Consider it like stocks. You don't make money when your stock goes up. You only make money when you SELL your stock while it's up!
Good luck!

I have 6 vehicles, loosing that one is not going to hurt us. The Colorado does not tow anymore (traded the Rockwood 2306), however, is a nice small truck to do errands and capable of towing 7,000 lbs if I have to. If I can get a good coin for it and sit later until the market swing again, might be able to get one newer at about the same price when I sold the old one.

[Tom 2424]

As a reference point, also get a written offer from CarMax to buy your vehicle if there is one near you. They offer wholesale, but it can serve as a "floor" to keep your dealer honest.

[corn18]

Originally Posted by Tom 2424

As a reference point, also get a written offer from CarMax to buy your vehicle if there is one near you. They offer wholesale, but it can serve as a "floor" to keep your dealer honest.

I've found Carvana gives the best offer (a lot more than Carmax) and they will give you what they quote online. I've sold 2 cars to them recently and it was easy peasy.

[corn18]

Originally Posted by KnP

I have 6 vehicles, loosing that one is not going to hurt us. The Colorado does not tow anymore (traded the Rockwood 2306), however, is a nice small truck to do errands and capable of towing 7,000 lbs if I have to. If I can get a good coin for it and sit later until the market swing again, might be able to get one newer at about the same price when I sold the old one.

Run your Colorado through the Carvana site. The quote they give you is a valid offer and they will pay that. Not just a bait and switch.

[Bhrava]

Who would have thought that in less than 3 years that my F150 Platinum would have positive equity with a no money down loan. Same with my F350 with less than 2 years into the loan, of course I knew it would have equity considering I bought it at private value, and could turn around and sell at any time and get cash back, but in hundreds, not thousands. Too bad I need them both or I would sell them.

[Dan50]

Originally Posted by moose074

Current market stung me 3 weeks ago. Headed to town for concrete. At last minute decided to swing by dealership. I had my wife car in for her oil change “ free because first” a week earlier and saw a 5 th wheel hitch I hadn’t seen before in the back of a new truck. It was a Ram hitch and after removing my B&W companion by myself and it kicked my butt and I’m not getting younger. So 3 hours later I walk out in new truck . Hitch is on back order. I paid MSRP for truck ( plus hitch included ) I knew new truck market was tight from reading this forum and it was clear at the dealership normally has 15-20 Dually on site they had 4 that day. Anyway when they offered 8k less than I paid 2 1/2 years ago. I thought I was getting great deal. Turns out at best I got about 2k - 4K below jd power trade in or 9k to 14 k under Kelly blue book which has trade in value higher than I paid new.

That said I’m still happy love the truck

The Ram hitch is made by Curt. Just for your info.

[supercharged347]

Last October a guy offered me 14K for my 97 f350 crew cab dualley with a 7.3L with a banks kit with 160,000 miles on it so I sold it. Went to a local ford dealer here in Ohio and ordered a 2021 F450 crew cab dually 4x4 6.7L and paid 63,100 out the door and got it a week before Christmas, So I should be a head on the new truck from what I am reading here since it only has 1300 miles on it.

[moose074]

Originally Posted by Dan50

The Ram hitch is made by Curt. Just for your info.

Yes I saw when they ordered wrong one still waiting on hitch