Used Ram prices up 28.8% from last year

[IvoryHemi]

Interesting read...

Used truck prices are on the rise, again

With SUVs and trucks in demand, a new study shows that used truck prices are on the rise and have the biggest year-over-year price increases.

pickuptrucktalk.com

 

[JoeCo]

I believe it! Autonation has had my 17 listed since the day after I sold it to them a few weeks ago, but just got a picture up yesterday:


Actual mileage is 52,725 ish and they did throw some new tires (a/t's even!) on it, not sure if they fixed anything else but appears at a minimum they put tires and a good detail into it. I'm very interested to see how long they have this for before it sells. They gave me $38,250 for the record, where I paid about $35k for it back in 2019.

 

[MBDC]

I believe it! Autonation has had my 17 listed since the day after I sold it to them a few weeks ago, but just got a picture up yesterday:
View attachment 94741

Actual mileage is 52,725 ish and they did throw some new tires (a/t's even!) on it, not sure if they fixed anything else but appears at a minimum they put tires and a good detail into it. I'm very interested to see how long they have this for before it sells. They gave me $38,250 for the record, where I paid about $35k for it back in 2019.

About 6 months ago, my 2016 Ram was going for 19k...I had over 100k miles on it. Definitely was in great shape though. I traded it in about 3 weeks ago and received $24k for my trade in!

 

[Scram1500]

Strange times.... I'm rolling the dice and waiting a bit longer, right before the bubble pops and the market is flooded

@JoeCo , finally placed your avatar, something about it was very familiar.... The rug really tied the room together!

 

[Willwork4truck]

Strange times.... I'm rolling the dice and waiting a bit longer, right before the bubble pops and the market is flooded

@JoeCo , finally placed your avatar, something about it was very familiar.... The rug really tied the room together!

My kinda luck would be to wait too long and like the guy going over the falls, wish he'd acted sooner.

 

[Moparian]

You will be fine until late this year perhaps early next as even if they fix the chip shortage sooner than later it will still take them time to replenish inventories across the nation/world. That being said I plan on taking advantage here in the next month, really just waiting on my replacement windshield to come in so I can pull the trigger. I'm going to pick up a Wrangler Unlimited which hold their values extremely well and then once all this stuff gets back to normal I'll look at getting into a new truck. Hopefully we will finally get the 6.4 in a non offroad focused truck in the next 2 years.

 

[JoeCo]

About 6 months ago, my 2016 Ram was going for 19k...I had over 100k miles on it. Definitely was in great shape though. I traded it in about 3 weeks ago and received $24k for my trade in!

Nice! That's awesome! Nice to be able to capitalize on that!

Strange times.... I'm rolling the dice and waiting a bit longer, right before the bubble pops and the market is flooded

@JoeCo , finally placed your avatar, something about it was very familiar.... The rug really tied the room together!

Haha over the line!!! Great movie, if you look closely though you will see Walters head has been replaced by Lou Holtz's. I don't remember where I found this but I found it a long time ago and always found it hilarious.

 

[Caballonegro]

Probably because the economy is starting tank and people buy used and not new. All the Bandaids, stimulus checks, and future stimulus payments are going to start shifting the market like it has been trying to for the last so many years...but just a guess my 2 year old told me which I will put all my trust in.

 

[User_3336]

I traded my 2020 Night Edition. Dealer gave me $4000 more than what I paid for it. Used truck market is crazy.

 

[jastevenson]

For those people trading: even though your trade in value is high, how does that help you since the vehicle you trade it in for is also going to be higher than normal, correct?

Even if I get 10k more on my trade, if there’s also a 10k markup on the replacement vehicle, it ends up being a wash.

 

[dwalme]

For those people trading: even though your trade in value is high, how does that help you since the vehicle you trade it in for is also going to be higher than normal, correct?

Even if I get 10k more on my trade, if there’s also a 10k markup on the replacement vehicle, it ends up being a wash.

New truck pricing is not affected the same way.

Just fewer rebates typically. Varies a bit by region.

 

[afphinfan]

I guess the 28.8% increase for used Rams is pretty close for my experience:
I wanted to trade my 2015 Longhorn EcoDiesel w/125k+ miles. Used Gen 5 prices were too stout, I didn't want another EcoDiesel but the Hemi didn't get enough MPG for my driving needs. I ended up trading for a leftover loaded 2020 Ford Ranger Lariat FX4 that was really discounted and the dealer gave me $24k (Ram dealers offered $20k). Well that turned out to be a mistake as the truck looked nice and got decent mileage but road like a tank and was too small ... but I thought I'd have to live with it for a few years until I found out that Carvana would give me $300 less than I bought it for. The other sites were close but Carvana was tops; I had heard they would likely increase the price if I went past the 7 day date but I didn't risk it. Of course to find my must haves proved challenging: 3 in the entire country based on my search sites and parameters: Laramie trim, 3.6L v6, Rambox (pref w/BUG), a color other than black or white, under $45k.

The one I found in Ohio looked great and was the least expensive but sold quickly ... I had a love/hate thing with the Black Forest Green; beautiful when clean horrible when dirty. The white one in GA was the most expensive and didn't have anything I wanted to make the extra cost worth it (and I've had too many white trucks). And lastly the Delmonico Red on in IL was a little high in price given the number of miles and had tow mirrors but already had 33 gallon tank and color was awesome. So I bought that one and changed the mirrors and now have exactly what I wanted. My guess is that the price was about $1,500 higher than it should be but given the current market I could live with it and for financing $18k @ 2.5% interest it wouldn't kill me. Being happy enough with what you bought at a price you could afford is the key. Now I can just drive the truck and enjoy it.

 

[millerbjm]

It all friends on the deal you find and the dealership. I just messed a 2021Laramie with an MSRP of $56,350 and got them to $47,000 after rebates. Add in the$7,000 in equity on my 2019 Big Horn and my lease payment dropped $20/month and I got a higher trim. I would have lived to get a better price but the deal was too good and depending how long the used market stays up maybe I'll have equity in the 2021 in a year and can order a 2022!

 

[Bay Area RAM]

Indeed they are...... traded my truck in 2 weeks ago and ordered a 22. It’s all relative I guess, in talking with the dealer he assured me I won’t be paying any markup and guarantees that he’ll get me in for a few thousand less than msrp. I got way more for my truck than I owed and they marked it up even more..... crazy times.

Used 2019 Ram 1500 Limited For Sale | Seaside CA

Used 2019 Ram 1500 Limited, from Seaside Chrysler Dodge Jeep RAM in Seaside, CA, 93955-3612. Call (831) 204-1698 for more information.

www.seasidechryslerdodgejeepram.com

 

[JoeCo]

For those people trading: even though your trade in value is high, how does that help you since the vehicle you trade it in for is also going to be higher than normal, correct?

Even if I get 10k more on my trade, if there’s also a 10k markup on the replacement vehicle, it ends up being a wash.

Timing for me...I ordered a new truck on 3/6 when pricing was still decent (about 16% off msrp on a longhorn order) and got the 0% for 72 months. Then due to the delays in making the truck, my trade in value went from $30,000 on 3/6 up to the $38,250 I ended up getting for it a few weeks ago. So long as my new truck arrives problem and trouble free, it will all work out pretty well.

 

[Willwork4truck]

Peeps get a 2 yr newer truck (depending on 19', 20' or what) with more issues fixed (like the a/c) and a full warranty as well as if they order they get what they want. That's plenty reason to do a sell/trade - order now.

I'd not buy a lot truck (2021) since they are not really any bargain and you have the standard color/option issues.
In our case she's dropped the truck idea and wants back into a Durango type SUV so like I told her, she got the "feel" of a truck and now can have what she feels she wants. I get a vehicle that fits in the next garage.

The Carmax "2 inch" ad comes to mind... If you haven't seen it, look it up.

CarMax TV Spot, 'Two Inches'

What difference can two inches make? This new truck owner finds out the hard way as he shuts the garage door on his lengthy new vehicle. Luckily for him, he need not pay a price for this oversight as CarMax offers full refunds for the first seven days after purchase.

www.ispot.tv

 

[Willwork4truck]

We were toying with getting a smaller (<22') TT and then I read this today:

RV sales continue to climb as more first-time campers head out

In the Raleigh metro area, RV dealers are generating annual sales of $81 million, according to Outdoorsy.

www.wral.com

Begin quoted portion of article, (bolding is mine):
RALEIGH, N.C. — Recreational vehicle sales are continuing to climb across the country.

"Our suppliers are not even able to keep up with the demand. We have manufacturers in Indiana that are working 24-hour shifts just trying to keep up with the demand of camper sales," said David Hall, owner of USA RV in Raleigh.

Across the country the RV industry has seen a 160 percent increase in shipment numbers between 2009 and 2020, according to a recent report by online RV rental and outdoor travel marketplace Outdoorsy.

In the Raleigh metro area, RV dealers are generating annual sales of $81 million, according to the Outdoorsy report.

"Usually this parking lot is slammed full of campers ... we really can't keep any inventory in stock," Hall said.

Hall said his business is on track to double the number of RVs sold last year. He said that people are purchasing campers sight-unseen just to get their name on one when it arrives in stock."
(End of quoted article.)

On second thought, guess we aren't going to find a TT for awhile. Maybe when all those peeps figure out that they hardly used it, but that won't be till next summer/fall...

 

[IvoryHemi]

Yes RV industry is boomtown. Discounts are dwindling and manufacturers recently announced 5-8% price increases starting June.

We bought early last year for 34.5% off MSRP, which wasn’t uncommon for a TT. Considered upgrading but discounts today are pathetic plus long wait times

 

[Willwork4truck]

Xactly'. I doubt that assembly quality has increased either, based on my brothers last 3 trailers (5vers), it wasn't great when they had more time to make one. Imagine a Monday 3rd shift trailer...
For one educated owner's take on rv build quality in 2018: https://tomorrowsjourney.com/responsible-poor-quality-rvs-manufactured-today/
(Doesn't make me feel good about the rushed build quality of 2021.)

Back to the thread, a recent (May) article said (in part): "Used car and truck prices in April surged by the most since recordkeeping began in 1953, boosted by pent-up demand among consumers, many of whom had more cash to spend thanks to government stimulus measures. Used car and truck prices rose 10% last month and were up 21% versus the same period last year."

We all know that there are several factors, not just Covid stimulus money, (chip shortages, fewer rental car and lease vehicles coming into the market, an older average age of vehicle) causing all of this however it is a "bubble" like hasn't ever been seen in auto values. Just hope that when it corrects, peeps aren't hurt like the housing crash hurt folks.

I've been watching Craigslist for months, just toying with vehicle options... The sub $5K availability is drying up, where their used to be 30-40 now there's 5-8.
Pretty soon I'm going to put my grandson's tricycle on Vroom...

 

[User_3336]

For those people trading: even though your trade in value is high, how does that help you since the vehicle you trade it in for is also going to be higher than normal, correct?

Even if I get 10k more on my trade, if there’s also a 10k markup on the replacement vehicle, it ends up being a wash.

A Ranger more than a Ram? that's definitely NOT a wash. What kinda math you doin'? And you don't know what vehicle people are trading for(in other scenarios), so how is the your analysis even close to correct?