The absurdity of the Used Truck Market

"Sampsonite24-Earth's Least Likeliest Hero" (sampsonite24) 09/07/2015 at 13:01 • Filed to: Carbuying

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So last night I was driving home from my in laws and saw the ford dealer had a 60s Chevy C10 out front so I stopped to look at it. It was a nice drivers example that had been restomodded but that’s not the point of this story. I also spotted this

A cherry red 05 F150 Crew cab. The mileage? Just under 54 thousand. Which for this year of truck is insanely low. It also comes with the 5.4L V8 and There wasn’t a spot of rust on any of the body panels and the interior looked minty fresh.

I absolutely loved this body style so I figured I’d check the price on it. Well I nearly passed out on the spot cause they want 23,8 for it. That’s American. And that’s crazy. But the crazier part is that with it being in a semi rural area it’ll be sold within a week or two. I mean it’s the closest to a brand new 05 F150 you’ll ever see now a days. And to be honest if I had the cash I’d offer them 20k and cross my fingers that they’d accept

Here’s the link if you want more pictures

http://terrysfordofpeotone.com/Chicago/For-Sa…

Oh and if you’re wondering. A 2015 F150 XLT Supercrew with the short bed and 5L V8 and 4x4 starts at 41k.

Richtofen, Baron von Pickup > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 09:21

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We live in a post-Cash for Clunkers world, where trucks are luxury cars with lift kits.

Sampsonite24-Earth's Least Likeliest Hero > Richtofen, Baron von Pickup 09/07/2015 at 09:30

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And this isn’t even that far onto the luxury scale. I mean the xlt is the second lowest trim level

Nisman > Richtofen, Baron von Pickup 09/07/2015 at 09:43

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It boggles my mind how much that is still fucking with the used car market.

jovimon7 > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 09:59

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My loaded (except moonroof) 2008 FX2 with 50,000 miles. Local dealer offered me $21000.00 for it outright, I just laughed and said no thanks.

Sampsonite24-Earth's Least Likeliest Hero > jovimon7 09/07/2015 at 10:10

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I mean as a trade in that’s probably good money. On the open market though you’d get a lot more. If this truck was a trade in they probably gave the guy 16-18 for it

Milky > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 11:13

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How in the world? Cars are supposed to lose half their value in 4 years, not a decade.

Sampsonite24-Earth's Least Likeliest Hero > Milky 09/07/2015 at 11:29

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Clearly doesn’t apply to trucks

JQJ213- Now With An Extra Cylinder! > Milky 09/07/2015 at 13:31

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Jeeps are like the only other vehicles to defy that logic

Manwich - now Keto-Friendly > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 13:39

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If that’s the going rate for used, you might as well buy new.

Hell... if you can forgo all the bells and whistles, it will cut down the price substantially.

Shoop > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 14:17

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DUDE I KNOW

FOR SALE 1997 FORD F250 7.3 DIESEL 4 DOOR 280000 MILES RUNS GOOD NEEDS WORK TO DRIVE

$2900

https://potsdam.craigslist.org/cto/5170462336…

2000 dodge ram 2500 - $2750

118k

Everyone wants a cheap truck.

https://potsdam.craigslist.org/cto/5199729674…

Shoop > Shoop 09/07/2015 at 14:21

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!!! UNKNOWN CONTENT TYPE !!!

205000 miles

(Nice boat or Harley i would take partial trade in. )

https://potsdam.craigslist.org/cto/5207823921…

Sampsonite24-Earth's Least Likeliest Hero > Manwich - now Keto-Friendly 09/07/2015 at 14:24

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Not exactly though. To spec something similar to this truck would put you close to 42k. Although im biased cause this is my favorite modern generation of the F150 but I’d take this over a 2015 any day

Sampsonite24-Earth's Least Likeliest Hero > JQJ213- Now With An Extra Cylinder! 09/07/2015 at 14:25

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No joke. “Oh you want a 98 without any rust and under 100k miles? That’ll be 15 grand please

Manwich - now Keto-Friendly > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 14:34

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Well that’s just the thing... if I was buying a truck, I wouldn’t be willing to spend THAT much on fancy trim. So the truck I’d buy new would likely be thousands less.

hellriaser > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 14:41

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Shocking, old trucks in a Canada are way cheaper. I was offered 7k for my clean 04 lariat 4x4 w/ 80km.

KusabiSensei - Captain of the Toronto Maple Leafs > Shoop 09/07/2015 at 15:15

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That’s clearly someone on crack. I bought a not-modded 05 Duramax 4x4 with 305K miles for $8500.

In Georgia, where truck prices are literally insane.

BoxerFanatic, troublesome iconoclast. > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 16:22

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Ah, the United States, land of the 7-8+ year car loan that dwarfs the warranty, and outstrips the useful working life of the recall-plagued vehicle, with the economy of generally increasing prices, drastically under-reported inflation and unemployment rates, and stagnant wages from employers... yet a rising stock market, and rising debt.

There are a lot of things about the economy that suck for farmers, but prior to last year, Corn and other commodity prices were at record highs, and farmers FLOODED to capital equipment, including cowboy cadillacs as their “farm work trucks”, to show expenditures to offset the profits, and keep their income taxes minimized. Farm implements sold like crazy, too.

Now the commodities markets have crashed, Corn is back down under 4$ a bushel, last I heard, and even with a near record yield projection for this year, profits after production costs may be a bit more sparse... but for the big farmers there will still be income to offset with expenditures, so new and nearly-new used trucks will likely still be expensive.

Such is life in the US’s midwest agricultural heartland.

shop-teacher > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 16:46

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It is crazy how well trucks hold their value. I paid under $22k out the door for my brand new ‘06 Sierra crew cab. Nice years and $107k miles I can still get almost half of hat I paid for it, which is crazy. But like you said, when you price the new ones, the numbers get even crazier. The closest comparable new Sierra is just under $40k.

ly2v8-Brian > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 16:49

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That's one of the big reasons I got RWD. I got a newer truck (2009) with less miles (34,000) for $18000 (well $20k after taxes and fees).

shop-teacher > Nisman 09/07/2015 at 16:51

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Cash for clunkers was 6 years ago. Many and perhaps a majority of the cars people bought then, are already on the used market. It’s the high price of new cars that’s holding up the price of used ones, and that’s especially true for trucks.

mazda616 > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 18:18

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I found a relatively rust free truck with working four-wheel-drive and bought it immediately for $2,500. Why? Because every other truck had more rust and more issues and was more money. Exhausting.

j250ex > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 19:15

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The used truck market is horrible. The worst is for 2nd gen diesels. 20 years old in most cases and 200,000 miles. That'll be 15 grand. I've had a few 2nd gen dodges. They are not worth 15 grand in any codition

Milky > Sampsonite24-Earth's Least Likeliest Hero 09/07/2015 at 19:17

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Still seems crazy though. $23k for a decade old Ford doesn't sound right.

TheD0k_2many toys 2little time > JQJ213- Now With An Extra Cylinder! 09/07/2015 at 22:03

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also wrx and sti’s and evos