Value of our trucks seems to be declining rapidly

[SD Rebel]

I double checked, my Carvana and Carmax offers from a year ago actually went up.

 

[LRRP71]

carvana is sending me emails for like 32k but I had the manifolds done on my truck a few months back and the dealer was offering me 40k like trucks seem to range 40-45k on auto trader

A dealer has incentive to buy it back at that price. If your going to buy another truck from them. If you look at Trucks for sale on Carvana. Match it up to what your selling. You see it is about the $40K to buy. Thats what I did and the ones they had. They were selling for 4-6K more, with more miles on them for what they were going to give me. Then they came back with a higher price.

 

[frisby5]

I bought my 2022 when prices were at the peak with discounts extremely hard to find. After less than 3 years and 50,000 miles my truck is currently worth less than half of what I paid for it. Paid $66,000 and worth about $30,000 now. It was my choice to buy when I did so I can’t complain too much but it’s disheartening to see that drastic of a drop in value. Don’t plan on getting rid of mine anytime soon so it’s not really gonna affect me at all.

Same i spent 49k +tx lic+ extnd wrnty 57k otd mine is worth 32k

 

[79 300]

I traded in my 2019 Bighorn Quad cab with 22000 miles in March 2024 and they gave me $30000 for it, which I thought was a good price. According to KBB the average trade in value is now $25400. The dealer listed it for $33995 and it was gone in 2 weeks.

 

[LRRP71]

Buy a vehicle drive it around the block. Bring it back and say hey how much you buy it back for. Dealer says well Ill give you 15% less then what you just bought it for . My dad always said a car is the second most expensive thing you buy. A house being the first. Unless it is a boat. Only difference the car is one of the only things you buy. Watch it rust in the street over the years and lose money. At least a home you have a chance to build equity.

 

[SD Rebel]

Buy a vehicle drive it around the block. Bring it back and say hey how much you buy it back for. Dealer says well Ill give you 15% less then what you just bought it for . My dad always said a car is the second most expensive thing you buy. A house being the first. Unless it is a boat. Only difference the car is one of the only things you buy. Watch it rust in the street over the years and lose money. At least a home you have a chance to build equity.

True, a vehicle is really a tool, it gets old and superseded by better tools. Until it gets so old it becomes cool again and goes up in price decades later as a sentimental thing.

Though like sports cars, I think trucks hold hold a more emotional attachment to owners hearts. Ex FCA CEO said trucks are like horses to Americans, he understood something Tavares didn't. Probably applies to Canadians, Australians, Thais and a few other truck loving countries as well.

 

[1791]

less than 2 weeks ago at a ram dealer i traded my 2020 b-horn q-cab 2wd 8.4 non nav with 67k mi on it gave me 20,500 for it. got a CLEAN 2019 laramie crew 2wd with 12in, sunroof 68k mi on it paid 30,200 for it. the dealer listed my old truck for 25,500. i think everything was fair and i'm happy with the deal, i'm gonna keep it till it falls apart and i got gap insurance so i don't care but i get it. in other news i got a 92 reg cab c1500 OBS paid 1200 for it and sold it a few months ago for 5k.

 

[Montana_]

It could be worse... You could own a '25+

...Just saying.

 

[FloridaSun]

I traded in my 2019 Bighorn Quad cab with 22000 miles in March 2024 and they gave me $30000 for it, which I thought was a good price. According to KBB the average trade in value is now $25400. The dealer listed it for $33995 and it was gone in 2 weeks.

I just got 34500 for 2020 Limited with 67K miles on it. I thought that was a great price. They are advertising it on their dealer website for $39,999. It has been there for 2 weeks and they just dropped their price to $38,764.

 

[Rock Crawler]

Worst thing about buying newer vehicles is that the vehicle manufacturers has us by the balls, and they know it. And there isn’t anything we can do about it except go out and buy really old vehicles, if that even remains an option. Think about it. Back in the day, you bought a vehicle and could maintain it and do most, if not all repairs yourself. Newer vehicles are run by computers. These computers will become outdated/obsolete and the manufacturers will no longer support old software versions. Our vehicle will become useless. Nothing will be able to operate because it will need some sort of update. Eventually the government will outlaw all older vehicles for daily use because they don’t conform to their extremely ridiculous restrictions. I, for one, generally keep vehicles for long periods of time and hate seeing where all of this is going.