I'm somewhat shopping... well... window shopping for a truck right now. Seems that everywhere I look there are three to five year old trucks that are still running 30-40k plus... Mind you this is in the half ton market.A few weeks ago I was offered a 2014 SuperCrew 2wd XLT with the 5.0, 3.31 rear axle ratio, IBC, and Sync... and my favorite color in the F150... blue...for 31k OTD... I wanted to think about it because I really want at least a 3.55 rear axle ratio. HAD 16 MILES ON ITAnyway.. stuck to my guns.. now was not the time for my new truck and I walked away. I looked at a comparable 2015 Chevy Silverado LT with the 5.3 and a crew cab...while not 31k OTD, I was offered around 34k before tax..Still not a terrible price. Just for kicks, I wanted to look at used trucks... On both the Chevy and the Ford Lot they had 3 year old trucks for more or the same money as the NEW trucks... I can't understand this...I went to CarMax just to see whats up... they had a two year old F150 with 40k miles... IDENTICAL to the one I was just offered for 31k OTD except it was 4x4... everything else was the same. Its price was $32,900. since then, I have been window shopping online for a few weeks now...2008 Tundras with under 50k miles are still 25-30k plus... Just a few grand off new SR5 Tundra's. I do not understand this phenomenon.. how are these USED trucks selling for the same money or MORE than the new trucks? I have a friend who buys trucks at Auction. He says that the prices are cRaZy on used trucks right now. Seems to me that there is a bubble on expensive used trucks...Have you all notices this as well or is it just regional around Tennessee?Thanks!Jeremiah

I'm no economist and haven't heard this anywhere outside of my own head but do have a theory:3-6 years ago the economy was pretty much in the dump and there were ZERO new vehicles selling (or being manufactured). It stands to reason there is now a shortage of late model used vehicles. The economy has picked up in many areas and now there is heavy demand but little supply - So, up go the prices.I'm very intrigued by the current used car market. I find it funny that all of the sudden there are gleaming franchises selling used vehicles (Car-Max for example). I for one think this business model is going to fall flat on its face once things "normalize" in the used car market. The supply/demand used car thing has always resulted in dimly lit lots in a crappy part of town moving vehicles. I just don't see the long term profitability in huge, clean showrooms with perky young ladies selling used cars.We'll see....

my last truck was an f 150 fx4 lariat 4x4 with 35k on it(that's kilometers,not miles). it was 2 years old.we paid 23k. the sticker when new was 42k plus tax/pdi and all that stuff.my ram was almost as good of a deal.

I was shopping for an '06-07 Duramax and, for the early '07s with the LBZ engine, was seeing prices in the mid to high 30's for < 100k mile trucks. I decided to rehab my '02 with only 92k on it instead. :-)Lyle

I just sold my 2500HD two weeks ago. The first family that responded to my Craigslist bought the truck (both husband and wife replied to ad). They had been looking for over a year. He said everything he had found was work trucks that had over 100k miles. He liked my LT leather with less than 50k on odometer. I had a great trade-in value, and listed for $1500 over that on CL. I settled for $1k. It sold for more than 90% of the price I paid 42 months earlier.

jerem0621 wrote:I do not understand this phenomenon.. how are these USED trucks selling for the same money or MORE than the new trucks? I have a friend who buys trucks at Auction. He says that the prices are cRaZy on used trucks right now. Seems to me that there is a bubble on expensive used trucks...Have you all notices this as well or is it just regional around Tennessee?JeremiahJeremiah, in central Texas, I didn't see any used trucks selling for more than new, but to mtofell1's point, with the economy doing better, maybe we are seeing the surge of folks buying new who had been waiting. With that, the surge in used vehicles, but priced higher than what we expect, due to the outrageous pricing of the new trucks.While saving for a new truck to better pull trailers, I had a search set up on CarMax to show 3/4 and 1-ton trucks with diesel in a 500 mi radius. I watched it for 3 or 4 months, not fully expecting to buy used, but simply "watching the market". Seeing the 2013 3500HD noted in my signature equipped exactly as I would want, good price and a good trade in offer on my 2009 C1500 with cash for the difference, it became an easy decision.

Is there a used truck bubble? | Good Sam Community

30 Replies

Second_Chance
Explorer II
Jun 23, 2015
I have not understood the used truck prices for some time, now. In the fall of 2013 we decided we wanted to move up from the Tahoe to a 3/4 ton diesel (with the eventual plan of moving from a TT to a fiver). I searched AutoTrader and the area dealerships for a while looking for a later-model used Chevy or GMC with the Duramax. The best I found was a 2012 crew cab (one year old at the time) with less than 20K miles on it for right at blue book. When I called the dealer back to put down a deposit on it, someone else had already snatched it up. The one good thing to come out of it was that we established a relationship with a salesman we actually trusted. A few days later he called and asked how I would feel if he could find us a new truck for the same or less money than the used one we missed out on. Long story short, he found us a new 2013 (still on the lot after the 2014s had come out) in a city about two hours away. By the time the "GM loyalty discount," military discount, and some sales incentives were applied, the new truck was $2,000 less than the used truck we "lost" out on. We have been delighted with the truck ever since (but still don't understand the used truck "bubble").
darsben
Explorer II
Jun 23, 2015
THe flood trucks from Texas are now hitting the market so be extra careful wherever you buy
MFL
Nomad II
Jun 23, 2015
I have purchased about nine new trucks, but could have gotten by, with a nice used one. I looked at 2-3 year old used, many times, but with the manufacturers rebates, dealer discounts, etc., buying new was always the better choice.

I don't know who buys all the low mileage, late model used trucks. It seems the dealers would want to discount them, to keep them moving, saving interest charges to the dealership. I could never get a deal on one.

I quit looking at late model used, many years ago.

Jerry
APT
Explorer
Jun 23, 2015
One benefit of higher new truck prices, the used ones are worth more.

I'm with mtofell1, though. 2007-2010 new vehicle sales was about 2/3 what it is today, and trucks even lower as gas hit $4/gal for the first time. All the people who always buy 2-3 yr old trucks had a tighter supply. Now that has shifted to 5-7 yr old truck buyers, and 2-3yr is still a little tight.

Besides that, pickups have some of the highest resale %. They tend to be overbuilt for suburbanite use therefore last hundreds of thousands of miles. Discounts on new pickups are in the $10k off MSRP range, so gently used doesn't make much sense.
PopBeavers
Explorer II
Jun 23, 2015
In 2008 I bought a GMC Sierra 2500HD 4x4 gas. It was a little less than 30k OTD.

I just looked it up on KBB. For a private party sale, KBB says it is worth 30,379. It has 24k miles on it.

So my truck, now 6.5 years old, is still worth more than I paid for it. At least according to KBB.

I'm happy.
TomHaycraft
Explorer
Jun 23, 2015
jerem0621 wrote:
I do not understand this phenomenon.. how are these USED trucks selling for the same money or MORE than the new trucks?

I have a friend who buys trucks at Auction. He says that the prices are cRaZy on used trucks right now.

Seems to me that there is a bubble on expensive used trucks...Have you all notices this as well or is it just regional around Tennessee?
Jeremiah

Jeremiah, in central Texas, I didn't see any used trucks selling for more than new, but to mtofell1's point, with the economy doing better, maybe we are seeing the surge of folks buying new who had been waiting. With that, the surge in used vehicles, but priced higher than what we expect, due to the outrageous pricing of the new trucks.

While saving for a new truck to better pull trailers, I had a search set up on CarMax to show 3/4 and 1-ton trucks with diesel in a 500 mi radius. I watched it for 3 or 4 months, not fully expecting to buy used, but simply "watching the market". Seeing the 2013 3500HD noted in my signature equipped exactly as I would want, good price and a good trade in offer on my 2009 C1500 with cash for the difference, it became an easy decision.
Dadoffourgirls
Explorer
Jun 23, 2015
I just sold my 2500HD two weeks ago. The first family that responded to my Craigslist bought the truck (both husband and wife replied to ad). They had been looking for over a year. He said everything he had found was work trucks that had over 100k miles. He liked my LT leather with less than 50k on odometer. I had a great trade-in value, and listed for $1500 over that on CL. I settled for $1k. It sold for more than 90% of the price I paid 42 months earlier.
laknox
Nomad
Jun 23, 2015
I was shopping for an '06-07 Duramax and, for the early '07s with the LBZ engine, was seeing prices in the mid to high 30's for < 100k mile trucks. I decided to rehab my '02 with only 92k on it instead. :-)

Lyle
bcbouy
Explorer
Jun 23, 2015
my last truck was an f 150 fx4 lariat 4x4 with 35k on it(that's kilometers,not miles). it was 2 years old.we paid 23k. the sticker when new was 42k plus tax/pdi and all that stuff.my ram was almost as good of a deal.
mtofell1
Explorer
Jun 23, 2015
I'm no economist and haven't heard this anywhere outside of my own head but do have a theory:

3-6 years ago the economy was pretty much in the dump and there were ZERO new vehicles selling (or being manufactured). It stands to reason there is now a shortage of late model used vehicles. The economy has picked up in many areas and now there is heavy demand but little supply - So, up go the prices.

I'm very intrigued by the current used car market. I find it funny that all of the sudden there are gleaming franchises selling used vehicles (Car-Max for example). I for one think this business model is going to fall flat on its face once things "normalize" in the used car market. The supply/demand used car thing has always resulted in dimly lit lots in a crappy part of town moving vehicles. I just don't see the long term profitability in huge, clean showrooms with perky young ladies selling used cars.

We'll see....

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Is there a used truck bubble?

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