I hope you weren't planning on buying a used truck

Discussion in 'Off-Topic' started by strantor, Mar 5, 2015.

  1. strantor

    Thread Starter AAC Fanatic!

    Oct 3, 2010
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    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.
     
  2. GopherT

    AAC Fanatic!

    Nov 23, 2012
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    There are a few issues. Changing quickly again but here is the story up to about November 2014...

    The Auto companies have a corporate average fuel economy target to hit. They easiest way to do it is to sell fewer of the gas hogs and more of the lean burners. Easiest way to do that is to raise the prices of the hogs. There are essentially fewer sold.

    That has been ok as fewer people wanted the hogs anyhow because gas was so expensive. But then it wasn't in the second half of 2014 - demand surged. Lincoln navigator demand was up 88% year over year for new vehicles. Prices in the used market for big SUVs surged in the second half of 2014.

    Large pickups have been strong in the oil/fracking market for the past few years - ford launched a second production line for F150s. As the fracking market is falling apart because of low fuel prices, the consumer market for big pickups suddenly grew.

    Most of the pickups for fracking were (are) owned by fleet owners that move the. Around and lease them 3 months here and 3 months there. If the oil prices stay low, these are the guys who will be dumping their fleets in the next few months. Usually F250s or equiv. and many are crew cabs - most are completely basic inside, usually beat badly.

    Be patient if you can, fuel prices are inching back up. It may be short term because of refinery issues in California. I think the OPEC countries could not maintain the low price push to shut down American fracking. They stopped drilling for new gas/oil but existing wells kept pumping.

    Cheers.
     
  3. #12

    Expert

    Nov 30, 2010
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    I have been looking, but I mostly find little miniature station wagons and big, muscle bound SUVs, like you need a step ladder to climb into them and a trust fund to pay for the gasoline. The FSBO cars are mostly over 150,000 miles and priced like a cherished relative, like a 1998 F150 at $4000.

    What? If I want a car from the 1990s with less than 150,000 miles, I can keep the one I have.
    Not buying right now!
     
  4. #12

    Expert

    Nov 30, 2010
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    Here's an ad for today: 2005 Toyota Highlander, 157,000 miles, $9,988
     
  5. Brownout

    Well-Known Member

    Jan 10, 2012
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    I've been shopping for a truck to pull my 39', 10,000lb travel trailer I use for work for two years now. I haven't found anything near affordable that isn't beat all to hell. I'll just continue to use my E-350 van for now, which I got an unbelievable deal on, considering current prices.
     
  6. #12

    Expert

    Nov 30, 2010
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    An E-350 has the good rear axle and incredible bearings. I'd say, "Run it until the wheels fall off." but they won't.
    I checked the axle bearings on an E-350 with 180k miles on it, and they looked as good as new.
     
  7. gerty

    AAC Fanatic!

    Aug 30, 2007
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    I had a hard time finding a full size 4 door pickup ,that was worth anything, last year..Finally got a 2010 GMC for $14K.. I bought it from a dealer that's part of some kind of network, he got it from Memphis, it was one owner truck that was originally sold in Texas..
     
  8. WBahn

    Moderator

    Mar 31, 2012
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    When gas prices are low, the cost of gas guzzlers goes way up as there are more people wanting to buy them. When gas prices are high, the reverse is true and people have a hard time selling them and so the prices drop. In 2005 we had high gas prices compared to 2015, so the prices of big trucks have gone up considerably. Wait a year or three and when gas prices are sky high again buy your big truck and just use it accordingly.
     
  9. Brownout

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    Jan 10, 2012
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    True enough, they are well built. I have only two issues with it. First, I would prefer a duelly. There's an extra margin of safety in case of a blowout in a rear tire. I had a rear blowout last year while towing, and while it wasn't really a problem, would'a been nice to have good rubber on the road while I looked for a save place to pull off. Second, I'm right at the edge of exceeding the tow capacity, and so I have to be very careful what I load.
     
  10. Brownout

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    Also, having a truck with a longer wheelbase would provide more stability.
     
  11. GopherT

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    And a lower center of gravity. I drove one loaded with file-boxes full of paper. Under the gross weight but still, it was pretty scary around corners at any speed.
     
  12. JoeJester

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    2006 4wd supercrew lariat. $15986

    105150 miles
     
  13. JoeJester

    AAC Fanatic!

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    2007 silverado 1500 2wd short box crew cab. 74681 miles. $15896


    Both were from a car dealers website here in texas
     
  14. tcmtech

    Well-Known Member

    Nov 4, 2013
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    I picked up a loaded 99 Ford F250 super duty four door 4wd with a bad engine two years ago for $2K.

    Still debating on whether to put my built up 400+ HP 460 or my Allis Chalmers industrial diesel engine in it.

    Sort of leaning towards the industrial diesel being I have a 97 Ford F super Duty dually flatbed truck with a EFI 460 (bought it 3 years ago for $1400 put a used battery in it and have been driving it since:D) thats a gutless fuel pig compared to the wrecked pickup that my built up 460 is still in.
    Given I use the flatbed truck mostly for heavy hauling and pulling I would rather have the old school high HP and far more efficient engine in that just for that type of work.

    Looking at the old farm equipment forums the guys there say the AC diesel can easily be reworked to run at 200 - 250 HP all day without issues with little more than a better turbo some intercooling and a bit of injection pump rework. :cool:
     
  15. alfacliff

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    Dec 13, 2013
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    I wonder how much those "rality" shows about people buying udes cars has influenced the market. the rediculous prices they claim to give are way off. and as for a car that had a few hundred thousand made, how can they justify that being a rare clasic?
     
  16. GopherT

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    I'll take $12,500 for a Classic Toyota Camry. Only 174k miles - still on the first engine. It won't take you much effort to change the struts, tires are cheap, if you do the brakes yourself you can get real good deals on ebay or Amazon for rotors - yeah, shipping is a bit high on rotors but it's not bad. It would be a great project to use that garage full of tools. The rust around the wheel wheels is just surface rust - most will just buff out. It's only been in two accidents and those dents should be easy to pull out, you look like the kind of guy that can do it without a problem. Body work is easy and green paint is easy to match. Oh, and the starter is kind of wanky but that mostly happens only in the winter and at night. Yes, I think it would be the perfect car for your daughter.
     
  17. tracecom

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    It looks good, but I am surprised you don't get flack from the THP over that color scheme.
     
    Last edited: Mar 6, 2015
  18. tracecom

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    Apr 16, 2010
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    My 2000 S-10 extended cab 4wd has 197k miles, all of which I put on it. I have maintained it well, repairing things as they wore out, but it's showing its age and experience. I wouldn't take $5k for it, even though it's worth less.
     
  19. Duane P Wetick

    Active Member

    Apr 23, 2009
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    One of my car buddies allowed me to paw thru his used inventory...and this is what I found. He buys used vehicles at auction with around 100K miles on them and sells them at an attractive price...usually about 1/4 of the sticker price. The same vehicle(s) with only 40-60 thousand miles on the odometer will command a much higher price...these he usually shys away from. The 100K mile vehicles by and large have no rust, and with a new set of tires ($400-500) and tuned up look pretty darn good. This is his stock in trade and he does a pretty fair business and has been at it for a long time.

    Cheers, DPW [ Everything has limitations...and I hate limitations.]
     
  20. strantor

    Thread Starter AAC Fanatic!

    Oct 3, 2010
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    What makes you think it's worth less than $5k? Here's an '03 (close enough) extended cab s10 with 174k miles and they want $7k for it.
    http://m.autotrader.com/cars-for-sale/vehicledetails.xhtml?listingId=391923074&zip=77450&endYear=2016&pageLayout=list&sortBy=distanceASC&startYear=1981&searchRadius=50&mmt=[CHEV[S10PICKUP[]][]]

    ...and it isn't even a 4x4
     
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