Beware if Selling or Buying a Used Truck

[JasG]

I go to a couple of trade shows a year. I also ask about sales when I pick up parts for my kids ATV, or one of my toys. I hear the same thing, used anything right now is climbing because people don't either want to spend the money, or have the money for new. Suzuki isn't even bringing a lot of there product here to the states because the sales just aren't there.

This past spring I was looking for a mower, leaning towards a tractor. The Deere 400 series is 20 years old plus now. Just for a tractor with a deck people were getting $5500.00 plus. Seemed high to me for the condition I was seeing them in. Yet I know a few that sold, and I have seen dealers that the asking price moved up. If they had a few attachments $8000.00 wasn't unheard of for asking and they didn't seem to stay on craigslist for long.

 

[clemsonfor]

I was looking online a few weeks ago to see what is availible at what price. 10K seems to be the price for a truck regardless of miles and years that they bottom out for clean interior and exterior. I saw a very clean f150 ext cab. Say a 1998 to 2000 model year, the older body style, cant really remember the year but the old curvy one. Any way it has 265K miles on it and they wanted just under $7k for it! NOw it was very clean for the age, good apolstry (spelling??) clean seats and carpet but come on i know you can get good miles out of these( i have a 1990 ranger with more than that) things but thats a ticking time bomb. There was no mention of new or replaced engine or trans even. NOt that that would make me want it any more, id rather have original but they were not even using that as a selling point.

I could not find a vehicle from used dealers for any decent price. CL has a few better deals where you can shave a few K off a price but like said you better have your cash in hand and ready to move that day cause they wont sit long.

I knew it was only a matter of time These new trucks cost crazy money! I am a solid middle class young worker. I actually according to tax data am in the top 10% of wadge earners, but i can in no way afford even a base model new f150. And no i am not way maxed out on my mortage or anything. I just cant affor $400-500/month payment for a $38K 4wd truck. This drives the demand for used ones up as there are a ton of folks in my position. And i repeat, im not in forcluse or anywhere close,i pay all my bills i have ZERO credit card debt. I just cannot rationalize a truck payment which equals my house payment on a vehicle that aproaches 1/3 of my house value that will only go down.

 

[flyingcow]

My little bit of advice for anyone looking at a used vehicle.

Bring an On Board Diagnostics (OBD) scanner. Could shed light on unseen issues and help save you some headaches.

They are so cheap now, everyone has them and knows how to clear MIL light faults. At least with the scanner, even if there is no check engine light on you will see pending or stored codes.

I just got a scanner myself and now carry it around with me in the tool kit.
Especially useful for long road trips, so you wont be at the mercy of some repair facility if your vehicle throws a code, you will at least have a clue what's going on.

JB

**** good advice!

 

[timswi]

My little bit of advice for anyone looking at a used vehicle.

Bring an On Board Diagnostics (OBD) scanner. Could shed light on unseen issues and help save you some headaches.

They are so cheap now, everyone has them and knows how to clear MIL light faults. At least with the scanner, even if there is no check engine light on you will see pending or stored codes.

I just got a scanner myself and now carry it around with me in the tool kit.
Especially useful for long road trips, so you wont be at the mercy of some repair facility if your vehicle throws a code, you will at least have a clue what's going on.

JB

Only problem is...Everyone has them and the codes can be cleared before the look-see.

 

[jeffsw6]

On the other hand, with normal maintenance, it seems like American-made trucks (and cars) are going just as long as Hondas and Toyotas were popular for in the past. Besides that, now we have a lot of gadgets that were novel not long ago -- power windows, cruise control, air conditioning, automatic transmissions are better, etc. Honestly I think the value of trucks has gone up right along with the price.

Not saying I am going to go spend $40k on a new truck. I'll take one that is five or ten years old, has all those nice features, and will probably last for five or ten more years. For 1/3rd or 1/4th as much as a new truck!

 

[BobRip]

The cash for clunkers program took a lot of trucks off the market. Smaller supply raises the price. Simple economics.

 

[clemsonfor]

The cash for clunkers program took a lot of trucks off the market. Smaller supply raises the price. Simple economics.

But when you look at the #1 vehicles Ford had 2 model year explorers on the top 10 list and there were some crown vics i think. Trucks were there but seemed like a bunch of old SUVs made the top 10 traded vehicles. Again not saying trucks did not get traded.

 

[JB4310]

Only problem is...Everyone has them and the codes can be cleared before the look-see.

I'm new to the OBD2 world, but the way I understand it, you can clear the light but not the code that caused the light to go on, unless the fault was corrected, and x number of clear drive cycles have passed. It will either show a pending code or an incomplete scan.

I'm sure people are clearing the light for sales purposes.

JB

 

[Blast Chamber]

I also can't believe how much used trucks are going for on craigslist, etc.

I bought my '03 Ram 2500 diesel (no emissions junk) used back in 2005 with 14k miles for $26,000. It now has 62k miles and is just as clean as the day I bought it.

Based on what I've seen lately if I were to sell it (and I never will) I think I could almost get what I paid for it, which just boggles my mind. :shocked:

 

[Bird]

But when you look at the #1 vehicles Ford had 2 model year explorers on the top 10 list and there were some crown vics i think. Trucks were there but seemed like a bunch of old SUVs made the top 10 traded vehicles. Again not saying trucks did not get traded.

According to Kelly Blue Book, retail value of vehicles in excellent condition:
Our 2002 Crown Vic with 62k miles, $6140, NADA value, $7375
Our 2001 Ranger with 82k miles, $7660, NADA value, $8425

In other words, the little truck is more valuable than the sedan, and I reckon that's the reason the insurance premiums are slighly higher on the Ranger.

But I can honestly say, there's no way I'd even consider selling either of them for $10,000.