Mini Rant on Used Truck Prices

savagewsm · #1 10-07-2016, 11:11 AM

I am shopping for a decent used truck. Looking online at what is offered and checking sites like Blackbook and VMR I think I am getting an idea of current wholesale and retail prices.

My local dealers are listing trucks in the 2008 to 2010 range at up to $10K above average retail for basic units. Are they nuts or are people paying those prices nuts or am I nuts

example: 2008 XLT 4X4 125 K Ford average retail 14k they are asking 24K

Think I will wait till February when things are dead. They might be a little more reasonable I hope.

rugatika · #2 10-07-2016, 11:14 AM

Lots of demand for used Canadian vehicles in the states.

elkhunter1234 · #3 10-07-2016, 11:18 AM

Yep as long as the USA green back is high most of the good used ones are heading south, and at a premium price..

savagewsm · #4 10-07-2016, 11:19 AM

I was thinking the same. I may be better off buying an older unit and having it fixed up. May be cheaper in the long run.

Howard Hutchinson · #5 10-07-2016, 11:27 AM

Quote:

Originally Posted by rugatika

Lots of demand for used Canadian vehicles in the states.

^^^^^
They are eating them up from down there.

Tactical Lever · #6 10-07-2016, 11:32 AM

I wouldn't go to a dealer for the most part. Some are decent, some are crooks, but as they are there to make a buck, there aren't as many deals to be had.

HunterDave · #7 10-07-2016, 11:35 AM

Quote:

Originally Posted by savagewsm

example: 2008 XLT 4X4 125 K Ford average retail 14k they are asking 24K

I did a quick check on kijiji and there are similar trucks available in the $14K to $16K range.

schreyer · #8 10-07-2016, 11:35 AM

That's the biggest reason why I bought my truck brand new. I was originally looking for a truck that was about 3-5 years old with decent mileage on it. For the prices that I was seeing, I could pay an extra 6K and buy brand new.

I knew I'd be taking a hit on depreciation. But I'd rather have that than pay some dude's driving mishaps in mechanical bills to fix it up down the road.

bubba 96 · #9 10-07-2016, 11:38 AM

Quote:

Originally Posted by elkhunter1234

Yep as long as the USA green back is high most of the good used ones are heading south, and at a premium price..

This is correct I work at a dealership, and all our used trucks go to Spokane.

Newview01 · #10 10-07-2016, 11:39 AM

I am looking for a used Dodge Promaster 2500. Found one used for $41,000. Went to a dealer, and at the beginning of November when they get new stock in i can get one for $36,000.

Stinky Buffalo · #11 10-07-2016, 11:51 AM

Quote:

Originally Posted by schreyer

That's the biggest reason why I bought my truck brand new. I was originally looking for a truck that was about 3-5 years old with decent mileage on it. For the prices that I was seeing, I could pay an extra 6K and buy brand new.

I knew I'd be taking a hit on depreciation. But I'd rather have that than pay some dude's driving mishaps in mechanical bills to fix it up down the road.

That's where I ended up on my last few purchases as well. Up until then I was a "buy used and fix 'er up" guy. Mind you, I don't have a lot of time/space to work on my vehicles anymore, either.

jstubbs · #12 10-07-2016, 12:20 PM

Quote:

Originally Posted by elkhunter1234

Yep as long as the USA green back is high most of the good used ones are heading south, and at a premium price..

Yep. Especially with the crash of oil, tons of guys' rig rockets and diesels are getting sent to south of the border. Heck, I bought a slip tank off Kijiji and the guy who sold it to me was a truck broker. He offered to buy my Duramax right there on the spot for a pretty good price.

darren32 · #13 10-07-2016, 12:22 PM

Quote:

Originally Posted by bubba 96

This is correct I work at a dealership, and all our used trucks go to Spokane.

I was wondering where they all went. Drove by Denny Andrews used lot yesterday and it is full of 2017 super duties LOL

bubba 96 · #14 10-07-2016, 12:41 PM

Quote:

Originally Posted by darren32

I was wondering where they all went. Drove by Denny Andrews used lot yesterday and it is full of 2017 super duties LOL

Ours is about half full of f-150's, 350's..

couleefolk · #15 10-07-2016, 12:57 PM

the old trucks are getting high in price also. My son will start driving next year, and he's thinking about a 68-78 chevy. I have no problems with that era as far as reliability and cost of maintenance. I do have a problem with the asking prices for these old trucks, $1500-$2000 for a truck that needs new sheetmetal and floors? get real. And the prices in the US are the same, but you have to add 30 percent on top. Even the 80-90 trucks are getting high in price. I feel your anger. What happened to the days of buying vehicles for $200 and driving it for a year or two before you trashed it?

67ZL1 · #16 10-07-2016, 01:11 PM

Right now it's cheaper to buy a new truck. I was looking for a used Duramax last fall and found a 2011 sitting on the lot with 130k on it for a cool 45g. After I came too, I walked over to the new vehicle side and I could get the same rig but a 2016 for 58g. Don't forget, there's a lot of people upside down in their vehicle loans cause they decided to finance over 7+ years

79ford · #17 10-07-2016, 01:26 PM

Used are okay if you can pick them.... lightly used like 2-5 years old to me seems like it was a heap of junk and the owner wanted out.

I have what i call the old vehicle fund... it is the 400$ difference per month between buying new and running my old pig. 15 years on the road multiplied by 400$ per month is about 72 000+\-

hilt134 · #18 10-07-2016, 01:27 PM

For used check out the auctions. They arent fully loaded or anytbing like that but me and my father just picked a ford f 150 fleet truck for 1700 and cant see a problem with it other than tires. My figuring is if you buying used you may as well just own it out right

spirit4u · #19 10-07-2016, 01:37 PM

I will probably never buy a new truck or a running used truck. I bought two F350 6.0L in the past 3 weeks. An 06 and 07, couple $k and change. Neither of them are drivable, engine wise. When I'm done going through them someone will be getting a better than new drivable truck. My bil has already asked for the one of them. The current F350 05 6.0L truck I drive, I bought without even trying to crank the engine. Fixed it up. Drove it to Penticton pulling the 5th wheel for holidays. Life is good in the inexpensive lane.

Sooner · #20 10-07-2016, 01:42 PM

I am looking as well, im after something 10 ish years old. Junky, real high milers with issues and their still asking super high $$$ for what they should be worth. Then when you find a good one for sale, the asking price is OMG.

I have also heard most decent stuff is heading sown south right now and with the economy sucking, if you got a good ride, your hanging on to it.

Tactical Lever · #21 10-07-2016, 02:13 PM

Quote:

Originally Posted by couleefolk

the old trucks are getting high in price also. My son will start driving next year, and he's thinking about a 68-78 chevy. I have no problems with that era as far as reliability and cost of maintenance. I do have a problem with the asking prices for these old trucks, $1500-$2000 for a truck that needs new sheetmetal and floors? get real. And the prices in the US are the same, but you have to add 30 percent on top. Even the 80-90 trucks are getting high in price. I feel your anger. What happened to the days of buying vehicles for $200 and driving it for a year or two before you trashed it?

What are you expecting for $2000? That's the price of what, maybe 2 fitted suits, some shoes and a few shirts? People pay $2000 for a nice mountain bike. I saw one for $8000+ when I looked at United Cycle. And $200 won't even buy a rifle scope that most guys would put on a 30-06 any more.

sharpstick · #22 10-07-2016, 02:39 PM

Do any of you guys have a contact for these brokers?
Im selling a 2011 Dodge 3500 and maybe this is the way to go.

Thank you.
SS

Tactical Lever · #23 10-07-2016, 02:56 PM

Quote:

Originally Posted by couleefolk

the old trucks are getting high in price also. My son will start driving next year, and he's thinking about a 68-78 chevy. I have no problems with that era as far as reliability and cost of maintenance. I do have a problem with the asking prices for these old trucks, $1500-$2000 for a truck that needs new sheetmetal and floors? get real. And the prices in the US are the same, but you have to add 30 percent on top. Even the 80-90 trucks are getting high in price. I feel your anger. What happened to the days of buying vehicles for $200 and driving it for a year or two before you trashed it?

You could build one yourself if you think that is too much to pay for a classic truck. You might be able to get repop sheet metal for one now. They are making it for the 79-87(?) years anyway. Buy a new Dana 60 (not sure if it's correct) for about $5000 (I think with a locker), a 300 hp 350 crate engine for about $4500, a Truck Demon carb for about $500, exhaust for about $500, Turbo 400 reman transmission for about $2500, brakes from Baer for probably a bit over $600, a bench seat from the wrecker for about $50, re-upholster for about $300, an alternator for about $100.....

After all that, you're only into it for about $14 000. You just need the body, the frame, (most economical would probably be buying a used one for that...

), the front end, ignition components, electrical system (Painless), the dash and rest of the interior, a windshield, fuel tank, and probably about $6000 in body work. Cheap like borscht.

Battery · #24 10-07-2016, 03:29 PM

Got really lucky last month on a 2011 Ram 1500 Sport Quad Cab with 44,000KM and a clean record...only paid $20k from the local Dodge dealer.

Okotokian · #25 10-07-2016, 03:43 PM

Quote:

Originally Posted by rugatika

Lots of demand for used Canadian vehicles in the states.

Sure, but the example quoted by the OP is insanity, and can likely be had for much much less. Earlier this year, when the dollar was no lower, my son bought a 2014 Ram 1500 crew cab from a dealership with less than half the mileage the OP quoted on the 2008, for a $1000 less. So nobody is really paying $24,000 for a 2008 XLT (XLT being pretty close to base model) with 125K on it.

Mayhem · #26 10-07-2016, 05:30 PM

Quote:

Originally Posted by 79ford

Used are okay if you can pick them.... lightly used like 2-5 years old to me seems like it was a heap

I have what i call the old vehicle fund... it is the 400$ difference per month between buying new and running my old pig. 15 years on the road multiplied by 400$ per month is about 72 000+\-

Haha, I hear ya...mine will be 19 yrs shortly, it's done depreciating. With proper (preventative) maintenance it's surprising how long something will last. By doing things myself I have concluded the longer I keep it the less it actually costs over the long run.

Kyle · #27 10-07-2016, 05:51 PM

Lots of good deals out there, not at dealers though. Keep your eyes on kijiji and act quick (the good deals don't last a day) When I bought my last truck there was 3 different groups of people waiting to test drive/look at the truck after I brought it back from inspection.

huntsfurfish · #28 10-07-2016, 06:45 PM

Quote:

Originally Posted by rugatika

Lots of demand for used Canadian vehicles in the states.

This^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

spoiledsaskhunter · #29 10-07-2016, 07:16 PM

i'll just keep my old one, and keep fixin......still WAY cheaper than new, and I don't care for the new leather smell anyway.

HyperMOA · #30 10-07-2016, 07:37 PM

Quote:

Originally Posted by Tactical Lever

You could build one yourself if you think that is too much to pay for a classic truck. You might be able to get repop sheet metal for one now. They are making it for the 79-87(?) years anyway. Buy a new Dana 60 (not sure if it's correct) for about $5000 (I think with a locker), a 300 hp 350 crate engine for about $4500, a Truck Demon carb for about $500, exhaust for about $500, Turbo 400 reman transmission for about $2500, brakes from Baer for probably a bit over $600, a bench seat from the wrecker for about $50, re-upholster for about $300, an alternator for about $100.....

After all that, you're only into it for about $14 000. You just need the body, the frame, (most economical would probably be buying a used one for that...

), the front end, ignition components, electrical system (Painless), the dash and rest of the interior, a windshield, fuel tank, and probably about $6000 in body work. Cheap like borscht.

Save a few hundred and get a TH350. Turning that TH400 is a waste of fuel. No crate 350 needs a TH400. Better yet just get an old farmer 4 speed. No need for them fancy muncies.

I am actually thinking of spending 80 grand to redo a 72 suburban with a duramax and Eaton. A/C, cruise, the whole nine. 80 grand buys a new suburban that is worth 28 used in 5 years. A restored 72 suburban with most of the newer creature comforts may only depreciate to 65 in 5 years.