2 year old truck value went up?

**KyDan** · 04-29-2021, 06:31 AM

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!

GXPWeasel1 · 04-29-2021, 07:40 AM

Yep, crazy for sure.
I have a good friend who is a Service Manager @ a local Dodge dealership, and I have him do the repairs I'm not comfortable doing (a/c repair and things of that nature) on my Silverado. I don't drive a Dodge, but trust him.

I have received a written offer in the mail for my exact truck every month for the past 6 months. The offer I received last week was only $500 less than what I paid for my truck, 5 years ago.

Crazy times for sure. If I could get a new truck that I want relatively easy, I'd sell my truck to the Dodge dealership in a heartbeat. I have almost 100k on the clock, but you couldn't tell it by looking, inside or out.

Crookedhalo · 04-30-2021, 02:54 PM

It's a result of the chip shortages, and even some of the same shortages plaguing the RV industry (cushion foam, wires etc.).

I'd be tempted but then I wouldn't have a truck to tow my righ with cause you can't find any new one

Qwkynuf · 04-30-2021, 03:17 PM

I was helping my daughter shop for a car about 6 weeks ago, and made the mistake of wandering over to look at the used Super Dutys that the Ford dealer had sitting on the lot. The first one I looked at was a 2018 F350, listed at $75,800. I used the VIN to look up the original window sticker & saw that the original MSRP was just over $67k.

So that truck supposedly *appreciated* by 8 grand while it was being driven around for 3 years!

Ryan-OH · 04-30-2021, 03:24 PM

Crazy is right. I bought my 2020 F250 a year ago and it was only $1000 more than the 2 year old truck on the lot I was looking at. I traded my 2012 EcoBoost and they gave me $15500 for it. I only paid 20k for it in 14.

TitanMike · 04-30-2021, 08:05 PM

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.

SailorSam20500 · 04-30-2021, 08:14 PM

I'm leasing my current truck. It's time to turn it in. I'm beginning to think about buying out the lease and selling it myself. Due to not traveling anywhere near what we had planned last year, I'm way under on the mileage allowance.

chriscowles · 04-30-2021, 09:16 PM

Quote:

Originally Posted by SailorSam20500

I'm leasing my current truck. It's time to turn it in. I'm beginning to think about buying out the lease and selling it myself. Due to not traveling anywhere near what we had planned last year, I'm way under on the mileage allowance.

Buy out the lease and sell it back to the same dealer.

oxcamper · 05-01-2021, 07:40 AM

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

**KyDan** · 05-01-2021, 08:02 AM

Follow up.
My son said his buddy bought his 2019 Ram 3500 new for $72k
He just sold it back to the dealer for $80k and
the dealer has it on their website for $89,990

I'm sure glad I'm not needing a new vehicle right now!
Karazy times we're in!

aircommuter · 05-01-2021, 01:01 PM

Like Mike said, homes too even in the rural mountain area where I live are going on the market with a specified bid opening date and a contract that says if it doesn’t appraise the buyer agrees to put up the difference in cash. I know of one offer that was 32K over but came in second place and one waiting for the opening date at 100k over on another house. Several were sold on photos only.
Local inventory down by 85%.

Jim34RL · 05-01-2021, 02:23 PM

There is a gentleman on Turbo Diesel Register.com (TDR.COM) who is selling his 2002 3500 pick-up, in a Cab and Chassis configuration for $30,000. Here is the link: https://www.turbodieselregister.com/...r-sale.271061/

I have been offered $25,000+ for my 2008 but I have turned them down. Since I would need to buy a new Ram Tow vehicle for my needs.

aircommuter · 05-01-2021, 02:44 PM

Maybe it is people from CA and WA stockpiling.

FrankG · 05-01-2021, 03:03 PM

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

aircommuter · 05-01-2021, 06:05 PM

Quote:

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.

Here in CA it is also the costs added to a house by the government that keeps construction down. Building permits with fees and special interest desires added up could easily be $150k and more.
Zillow is better these days but when I lived on the airport Zillow didn’t know the house across the street would be $250k more because of taxiway access and a hangar.

TitanMike · 05-01-2021, 06:07 PM

Quote:

Originally Posted by FrankG

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

When one looks back to 1900 pretty much every period of inflation since has been followed by a depression. About 1960 it's just been "Inflation" but you're right, the party is bound to come to an end. Most here that are my age learned about the Great Depression, not so much from history books, but from our parents that lived it.

chriscowles · 05-01-2021, 06:09 PM

Quote:

Originally Posted by FrankG

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

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

Keystoner · 05-01-2021, 06:26 PM

From what I've read and watched, vehicle sales have been crazy the past 12 months. The "off season" never slowed. Just like RVs it's been historic high prices and volume. Used wholesale prices have been rising 1-2% the past 19 weeks. The online car places are paying stupid prices just to have inventory. The little jockey lot dealers can no longer afford the auction prices. New car dealers are now advertising that they want to buy out leases for more than they are valued in the lease.

I had been looking for a newer tow vehicle when I came across "Your Auto Advocates". (I have no affiliation with them.) I've been using the website and following them on YouTube for reports on the market. The shortages of computer chips and now foam rubber have severely impacted all brands' production and further fueled prices.

oxcamper · 05-01-2021, 06:50 PM

When I started driving, you could get a new Ford F-100 for $1,600.
Of course, minimum wage was $0.65 / hour

{Tpc} · 05-01-2021, 06:58 PM

Anyone interested in a 2020 f150 screw with the v8?

I’m still a year out on the end of my lease and have been debating what to do. Originally I hoped to just buy it at the end, but then I saw what the 2021 was like and now I’m interested in that.

Of course by the time that comes around it will be 2022, so it might be better to wait the lease out till the end.

I have to say that this is my second f150 lease and both have been solid trucks. I have had one problem in that time and that was with my old truck, where the alignment went out mid trip while camping. Took a minute to convince the dealer but once the tech and I were driving in the truck at the same time, he couldn’t argue. They apologized and told me I was right later on which they actually tried to verify the alignment.

You may also like: