2 year old truck value went up?

[tuckerdog1]

In 2015 my brother bought his new RAM 3500 Tradesman Cummins for $40K. Now 6 years later, I saw his identical truck for sale with 97,000 miles on it listed for $40K.He was tickled to hear that.

[TitanMike]

Originally Posted by chriscowles

Umm... this is a discussion about car prices due to low production, not politics or inflation.

Don't recall anyone mentioning politics.

Rising prices for any reason (on any product) is the cause of inflation.

When more people want something in short supply prices go up.

It won't be long if this continues, before new trucks will be like limited production luxury cars, selling for more than MSRP and even being resold later for more than paid.

For a while anyway, for the first time in history a new truck will be worth more when you drive it off the lot[emoji16]

[HappyGuy]

It's not just half tons and larger trucks. I sold my 2018 tacoma back to the dealer for what I paid for it with 35k on the clock. They sold it in less than 24 hours for 4k more than they paid me. The salesman I worked with had a list of people waiting for the model. Nuts is right. Good thing I can still buy vehicles that are broke and fix them up myself!


I know someone that just bought a 2013 3011 DS Forester used for 60k. Last year they were selling for high 30s to low 40s in similar condition. The insanity seems to be across the board.

[TheWolfPaq82]

I've had two offers from dealers for my 2019 Colorado for 1400 to 1800 more than I paid for it.

[dvalley]

It is a sellers market right now. Definitely not the time to buy any big ticket items as you will pay sky high pricing for less of a product than you want. Is best to save and wait until the bubble bursts and the economy turns back around. On the other hand, if you have something you want to sell and are not looking to buy, now is the time to do it.

[Kid Charlemagne]

Timely thread. Used vehicles are in such demand that Ford just bought my 18 month old Ranger back for more than I paid for it. I wasn't looking to trade up, but now I have a brand new 2021 Ranger with a nicer trim package for the same payment. So much for rolling stock being a depreciating asset.

[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

[Inciter]

Originally Posted by TitanMike

You think it's crazy with trucks, according to "Zillow" my house went up $38k in the last 30 days. Two houses sold near mine just recently, both in less than 2 weeks and after bidding wars.

Just like the shortage in vehicles, same with houses. With "Covid" a lot of construction slowed and the "inventory" of new homes around here is not just down, but approaching non-existent.

Tell me about, in the area I'm in homes are selling within days at 404 dollars a sqaure foot. we are in a county area 30 from the city. our home went from 895 to 975 and 1 Million it makes you want to sell $$.

Back to Trucks

[KnP]

Originally Posted by KyDan

My son just told me his buddy sold his 2 year old Ram 3500 back to the dealer for $8000 more than he paid for it.
I asked if this was a trade in and he said no. It was outright dealer buy back.
Crazy times!

Is a yes and a no. The reason that are up in value is due to a short of computer chips. New vehicles are flooded with all sort of electronic gadgets. Dealers had an excess inventory due to the 'Rona last summer and offered tons of discounts to get rid of the oversupply. Was a buyer's market and I took advantage of it, walked out with a brand new 2020 2500HD WT trim Long Bed for 46Gs.

Now is a seller's market. Dealers are begging for inventory and they are increasing the prices of new and used vehicles. Saw an ad the other day about "Buying Used Cars". If you have any used car, and want to get rid of it, this is the time to sell at a good price. Utility Vehicles (Trucks, Vans, etc...) are the ones with the highest resale value due to chip shortages.

https://www.zerohedge.com/markets/ph...ted-components

[Thatdarncat]

I have a 2017 Ram 2500 6.7 cummins 4×4 tradesman with only 18 thousand miles on it, I paid 39,999 I will take 50k runs like a champ , nothing wrong with it.

[KnP]

Put an ad and see what you can fish

[Lundy]

In 2016 I paid 43,000 for my F250 4x4 XLT. It only has 35,000 miles on her. I went on TrueCar the other day because I was curious about the prices going up. Mind you these are trade in prices, not even private party. Low was 45,000, and high was 48,000. Now that is insane, five years old and worth more than when new. I'm staying with my truck, its paid off.

[idaguy]

Just a matter of time before thefts go up, and you see your vehicles listed on craigslist

[corn18]

My truck has gone from $27,800 to $29,800 on Carvana in the past 2 weeks.

My 2015 BMW Z4 is worth about what I paid for it 4 years ago.

My wife's 2020 BMW X3 is about where I would expect it.

[Ezgoin721]

I have a 2019 Ram 3500 Limited with the HO Cummins and Aisan trans. It’s a beautiful loaded up truck that had an MSRP of $85,000. Of course I paid considerably less than that for the truck when I bought it and it only has about 11,000 miles on it, but I was in the dealership the other day having the fuel filters replaced when the sales manager practically ran over to ask if I would be interested in selling it back to them for more than I paid for it. I respectfully declined, and that’s when he told me the issue with getting new trucks because of the computer chip shortage! I guess that’s what happens when businesses hand over critical pieces of their manufacturing process to hostile foreign countries.

[PatrickY]

The following is from JD Power, the publisher of the NADA guides that are used by dealers across the country:
"Due to a number of continuing factors, the used vehicle market is currently exhibiting unprecedented upward price movement. On the supply side, new vehicle manufacturing is constrained, and dealer inventories and wholesale transaction volumes are tightening. On the demand side, the market is seeing a considerable increase in demand for vehicles due to an influx of government stimulus money coupled with the normal spring uplift driven by tax refunds. When taken together, these factors are driving used vehicle prices upward at an extraordinary rate. "

Combine the production and economic factors with the COVID influence on the explosive interest in camping (and towing trailers) as well as the number of people working on their houses and needing a truck to haul plywood, landscaping materials and the like and it's easy to see why prices have gone ballistic.

The downside is that while we could sell our trucks and houses and make out like a bandit, replacing them is going to cost an arm and a leg, plus maybe and eye and an ear and a couple of teeth ...

[corn18]

Originally Posted by Ezgoin721

I have a 2019 Ram 3500 Limited with the HO Cummins and Aisan trans. It’s a beautiful loaded up truck that had an MSRP of $85,000. Of course I paid considerably less than that for the truck when I bought it and it only has about 11,000 miles on it, but I was in the dealership the other day having the fuel filters replaced when the sales manager practically ran over to ask if I would be interested in selling it back to them for more than I paid for it. I respectfully declined, and that’s when he told me the issue with getting new trucks because of the computer chip shortage! I guess that’s what happens when businesses hand over critical pieces of their manufacturing process to hostile foreign countries.

Making those chips in the US would add cost to the price of a truck. God forbid we have to pay an extra $150 for a $50k vehicle.

Our company has 2 high end chip foundries. You need to run a lot of volume through a foundry to make any money. But it can be done. They are very capital intensive. Unless Congress passed a buy USA act, I would never get in the domestic chip making business. I would have to wrap a $10 bill around each chip just to sell them at a competitive price.

[KnP]

Originally Posted by Lundy

In 2016 I paid 43,000 for my F250 4x4 XLT. It only has 35,000 miles on her. I went on TrueCar the other day because I was curious about the prices going up. Mind you these are trade in prices, not even private party. Low was 45,000, and high was 48,000. Now that is insane, five years old and worth more than when new. I'm staying with my truck, its paid off.

I wonder how much coin I can get for my 2020 2500HD Duramax with Crew Cab and 8ft Bed. Last time I saw hardly no WT trucks or any trim on gasser models. No Duramaxes on higher trims.

Anyway, I am happy with the WT model, has all the needed comfort critters and has the same identical chassis/powertrain as the high end models

[KnP]

Double Post

[samTummo]

I bought my ‘17 F250 6.7 diesel XLT 4X4 in ‘18 with 35,000 miles on it. Been to Alaska from the Midwest and out west US twice. At 114,000 miles and she runs like a champ. The dealership that changes my oil offered me what I paid for it a week ago, outright buy. This week another offer up $5000. But how would I pull my 33’ TT?
Kentucky Speedway, near Verona, KY has THOUSANDS of Ford Superdutys parked in its COVID empty parking lots, due to the chip shortage. There is trouble in China, now here too. Sounds just like last spring!.