why are used trucks so expensive right now reddit

Im talking 10 year old trucks over 100k mi being sold for 15-20k. By Terry Nguyen Updated May 12 2021 437pm EDT.

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Used trucks are now more expensive than ever.

. The only trucks that didnt receive significant price increases include the Chevy and GMC 3500 or one-ton trucks. Why are used trucks so expensive now. So high that when you consider condition and coming repairs the higher interest rate for used loans that often buying a used truck is a bad decision.

Used pickup trucks are more expensive right now than ever before for a couple of reasons. People with cars are going to typically replace their cars after about ten years with a newer model. And there is a ton of demand for used trucks because the new ones are seen as so expensive right or wrong There is also a ton of markup in used trucks.

Supply and demand is a simple concept. So high that when you consider condition and coming repairs the higher interest rate for used loans that often buying a used truck is a bad decision. I live in a rural-ish area and trucks are common and a commodity but the prices I saw for used trucks nearly killed me.

It the same reason 20 year old 73 diesel Excursions sell for 20K with over 200k miles on them and the 54 gasser can be had for a bucket of chicken and a six pack. Why used and new cars are so expensive right now explained in 3 charts. Used truck prices in my area have always been ridiculously high.

Its still higher than the old normal though. Far more people want to leave California than want to move there. The market is especially bad for trucks right now so I mostly agree but one can still find a super cheap car.

There just arent as many used trucks out there so the ones that are available are quite a bit. Stimulus bills and reddit users influencing the. Trucks 4-5 years old with 40k being sold for 85-90 the msrp of brand new trucks.

That said demand is starting to slow ever so slightly. Its a great time to have a ton of cars to sell its a bad time to want a used car. New cars all have multiple month long waiting lists.

Auction prices are going up because of this but retail prices arent because banks arent financing lower credit scores and arent going over certain numbers. I just wanted a cheap reliable fuel efficient car to drive most of the time instead of my truck. The used Ram 1500 has the most massive price increase of 5911 from October 2019 with a 219 percent price increase.

If you look at the truck in front of the car the demand for the truck is high and these sales are also higher than the cars. Why used and new cars are so expensive right. Also dealerships have rules from.

Used cars are sitting on dealer lots to get right now. My car is worth more now than when I bought it a couple of years ago I assume its because its harder to get new cars now with all the shit happening in the world. Deleted 4 yr.

The main reason why used trucks cost so much is because there arent many trucks from a decade ago due to the automakers cutting their production. 25 days ago. Because it has become a necessity of every human being some use it for their business and some give it to their employees for farming.

Many manufacturers did not order enough chips for their trucks because they thought sales would drop. Need to keep up with the Jones and purchase a status symbol family vehicle. Yup you literally checked all the boxes that make older trucks expensive.

This creates a supplydemand issue which results in higher prices to get an outbound truck. You know how much a used truck costs. I did the work myself so the costs for repairs werent bad.

Another reason why used trucks are so expensive is that they tend to last longer than cars. So as a result there are fewer trucks entering the state than leaving. If you look at the truck in front of the car the demand for the truck is high and these sales are also higher than the cars.

One of the biggest reasons is that in 2021 there is a chip shortage which was brought on by the worldwide pandemic. Another reason why used trucks are so expensive is that they tend to last longer than cars. Reposessions have just started in the US and also have became less since many dealers will keep them.

Theyre expensive because people will pay. Why Are Used Pickup Trucks So Expensive. Pickup Buyers Are Fed Up With Overpriced 50000 Trucks.

If you chose the latter congratulations you figured out why theyre so expensive. Uhaul prices are often affected by where people are moving tofrom. Between factories running at reduced capacity with limited availability of some trims due to supply line issues and people deciding not to use public transit demand for used cars is way up.

Why used cars are getting so expensive. Get to 2010 and they get crazy in price.

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