Used truck market at standstill??

Aug 3, 2013
898
0
16
Arizona
Is it just me or are others noticing that they cannot sell their used diesel truck for anything anymore? I understand fear of the coming elections. But this seems absurd, I'm finding so many nice trucks for such a cheap price.
 

TheBac

Why do I keep doing this?
Staff member
Apr 19, 2008
15,636
1,902
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Mid Michigan
Moved to Smoke Signals. Wasnt appropriate for the Sale section. Also deleted the duplicate thread on same topic.
 
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kidturbo

Piston Tester
Jul 21, 2010
2,541
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Somewhere On The Ohio
www.marinemods.us
You are correct, the market is soft right now. I have friends and family in the business, and we were talking about it last weekend. But think it's more to do with inventory and interest rates. We went several years where ya couldn't go walk on the lot an buy a new truck with options ya want. So people were paying well over sticker, or buying used to get models they wanted.

I personally sold a 2013 F350 in 2023 for the same price I paid back in 2019. At a big discount from what I was offered for it in late 2020. Now in 2024 all the backlog has cleared, and you can go to a dealership and pretty much drive off in what ya want. However with prices over $100k for new top models, it's sure helping to hold the values on 2019+ stuff pretty nicely.
 

malibu795

misspeelleerr
Apr 28, 2007
8,264
584
113
42
in the buckeye state
Yeah used/new market is still nuts.
Getting parts Saturday... I was looking at a '25 3500 srw RCLB 6.6 gas WT for 58k
The CCLB DRE Denali where 94-105k

Also saw Chevy only makes the Malibu and Corvette for cars now as well IDK about the sister brands
 

NC-smokinlmm

<<<Future tuna killer
May 29, 2011
5,209
363
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At Da Beach
I saw a rcsb 4x4 1500 Sierra with a 4 cylinder for 54k, had rubber floor and few options other than some nice looking wheels.
 
Aug 3, 2013
898
0
16
Arizona
I'm not getting any interest at all for my lb7 priced at 16k and it's well worth every penny. I see alot of nice trucks not selling, and they are listed for a bargain. Just 2 years ago things were quite different, when the chip shortage was going on of course. This is in Arizona
 
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TheBac

Why do I keep doing this?
Staff member
Apr 19, 2008
15,636
1,902
113
Mid Michigan
I posted this in the Chat thread, seems appropriate here:

Was browsing Marketplace this morning, so for the heck of it, I searched "GMC Duramax", I dont know why.....
Up pops a 2024 GMC CC/SB AT4 loaded blah blah blah ---- $104,000!!!
Then a few more ads later, theres another one -- $98,000!!! Must not have had the gold plated interior?

I about fainted at those prices. Unreal.
 
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lutzjk913

Well-known member
May 5, 2010
1,683
172
63
groveport, ohio
Coming from someone in the industry

Easiest way to say this is. From what I see

People can’t afford the prices with the current interest rates.

Great credit gets 6-7% on a used vehicle right now

“Ok” credit is 8+

I look to see some monster rebates come around and interest rates drop around the first of the year
 

Chevy1925

don't know sh!t about IFS
Staff member
Oct 21, 2009
21,702
5,862
113
Phoenix Az
I'm not getting any interest at all for my lb7 priced at 16k and it's well worth every penny. I see alot of nice trucks not selling, and they are listed for a bargain. Just 2 years ago things were quite different, when the chip shortage was going on of course. This is in Arizona

It’s the time of year and dumbasses thinking that not buying anything due to the election is somehow smart. Typical for the car market here to fall off some around now. Back to school doesn’t help either
 
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shakenfake

Moron
Sep 15, 2022
327
131
43
Shlumpt, TX
Buddy just got a loan to go buy a used truck and is at 7.29% interest rate. I can't find anything worthwhile for him. I am the one doing all the searching and actually looking at the trucks.

Two nights ago I went to look at an 05 RCSB advertised with a 5.3 and 113k miles, truck looked nice in pictures. Turned out it was a 4.8, cracked roll pan (not too bad but will need fixing), leaking oil (was just telling me no leaks), codes out the wazoo, and 200k miles on it. So that was a fun trip for nothing. Told him that he has a nice $5k truck and he needed to fix his ad and I left.
 

pl_silverado

Active member
Jan 29, 2012
141
107
43
I sold one recently. Took a little hit on it from what I was asking, but still made money. Guy showed up with cash, and was the only bite in 3 months or so. So yea it seems to have slowed down.
 
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blueshift

New member
Jan 29, 2024
24
20
3
Raleigh
It's not just used diesel trucks. It's pretty much everything.

Older Japanese econobox cars that were quickly fetching $8k-$10k a couple years ago, are now sitting for weeks at $5k-$6k.

I've seen prices on older, limited production Camaros, Mustangs, etc. fall from $40k+ selling instantly, to sitting at $26k-$30k now.

Dirt bikes and mountain bikes are dropping like a rock. In the last month, I've seen several barely used 2024 year model bikes not selling at 40% off new prices.

Just bought and sold a house in an extremely hot real estate market, and that has slowed down dramatically. Homes are actually sitting for a few weeks now. Unheard of just a few months back.

My conclusion? Interest rates are hurting somewhat, but it's mostly that people just don't have the cash on hand that they did a couple years ago. It's taken a while, but the trillions of dollars of stimulus are finally drying up.
 

JoshH

Daggum farm truck
Staff member
Vendor/Sponsor
Feb 14, 2007
13,721
788
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Texas!!!
All I know is I had a relatively clean, lowish mile (60k) 02 Camaro SS I listed on facebook marketplace a couple of weeks ago, and it sold in 5 hours. Then I listed a set of Weld wheels I took off the car the buyer didn't want (or didn't want to pay for anyway), and they sold almost as fast. Things are definitely slowing down, but I wouldn't say the market is dead by any means.
 

kidturbo

Piston Tester
Jul 21, 2010
2,541
1,378
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Somewhere On The Ohio
www.marinemods.us
Ya my brother has been selling $150k 25' "fishing" boats like crazy for past couple years on west coast of Florida. Not moving many trucks, but those who don't need to borrow money to buy toys, seem to be doing okay.. And the banks be doing 15yr notes on boats.. But he did come off his F250 2019 Platinum last month after holding it in inventory for almost two years on purpose. Said got his purchase price back on a retail sale.

Also my son sold his 05 F350 flat bed 6spd with a 6Leaker last week for $9500. When any 6.0L brings 10k, market is still doing well in my eyes... However I have a 98 Wrangler on FB for 4 months, and can't give it away...
 
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Aug 3, 2013
898
0
16
Arizona
Since this was posted I still have had no messages for my truck. I'd hate to bring the price below 15k for a truck that has had over 16k worth of work done in the last 2 years
 
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