Because if so, your wallet is going to complain. I guess the effects of the economic snafu of a few years back trickle down and settle more heavily in some areas than others. They seem to have piled a mile high in the used auto market, especially used trucks.
In 2005 I bought a 1995 suburban with 100k miles for $4000. It was one of the most reliable vehicles I have owned. I never hesitated to take it on several hundred mile road trips. Never had a single component fail or threaten to fail. Sold it for $3500 with 150k miles in the same condition I bought it, which was the same condition it rolled off the dealer lot in 1995.
If you want a 10 y/o suburban with 100k miles on it today, you need to have about $11k. This is way above the rate of inflation.
According to inflationdata.com calculator, that $4k I spent 10 years ago is only equivalent to $4.7k today.
First off, new cars are more expensive now than they were. The MSRP of that 1995 suburban (leather, all the options) was $23k. That's $35k in today's dollars. A similarly equipped 2015 suburban starts out @55k.
On top of that, I guess not many people were running out and buying new cars around 2009 time frame and thereafter, so the amount of gingerly used 2009-2011 vehicles is slim. And the cars that people WERE buying, were not massive gas guzzling pickups, but more of baseline ford focus and such.
So if you're like me, and in need of a dependable truck, you're looking at not a lot of options. Trying to find the least molested high milage dregs out there, and then paying premium for it. It's maddening. I need a time machine to go back a few years.
Interestingly Kelly Blue Book seems to be a few years behind the times, need to update their algorithms. For example, KBB says that a 2007 Ford F250 Powerstroke Diesel crew cab pickup with 75k miles is worth about $8k. On autotrader.com I can't find any diesel F250 crew cabs from 2006 to 2008 with under 100k miles, and even with 150k+ miles they are asking up to and over $20k for them.
The flip side of all this is, if you have a truck, now would be a good time to sell it (maybe to me), and don't just go look up its value on kbb and list it for that price (unless you're selling to me). You might get double the kbb price or more.
In 2005 I bought a 1995 suburban with 100k miles for $4000. It was one of the most reliable vehicles I have owned. I never hesitated to take it on several hundred mile road trips. Never had a single component fail or threaten to fail. Sold it for $3500 with 150k miles in the same condition I bought it, which was the same condition it rolled off the dealer lot in 1995.
If you want a 10 y/o suburban with 100k miles on it today, you need to have about $11k. This is way above the rate of inflation.
According to inflationdata.com calculator, that $4k I spent 10 years ago is only equivalent to $4.7k today.
First off, new cars are more expensive now than they were. The MSRP of that 1995 suburban (leather, all the options) was $23k. That's $35k in today's dollars. A similarly equipped 2015 suburban starts out @55k.
On top of that, I guess not many people were running out and buying new cars around 2009 time frame and thereafter, so the amount of gingerly used 2009-2011 vehicles is slim. And the cars that people WERE buying, were not massive gas guzzling pickups, but more of baseline ford focus and such.
So if you're like me, and in need of a dependable truck, you're looking at not a lot of options. Trying to find the least molested high milage dregs out there, and then paying premium for it. It's maddening. I need a time machine to go back a few years.
Interestingly Kelly Blue Book seems to be a few years behind the times, need to update their algorithms. For example, KBB says that a 2007 Ford F250 Powerstroke Diesel crew cab pickup with 75k miles is worth about $8k. On autotrader.com I can't find any diesel F250 crew cabs from 2006 to 2008 with under 100k miles, and even with 150k+ miles they are asking up to and over $20k for them.
The flip side of all this is, if you have a truck, now would be a good time to sell it (maybe to me), and don't just go look up its value on kbb and list it for that price (unless you're selling to me). You might get double the kbb price or more.