Kbb, edmunds, galves, etc - which one should I use to set my price to sell my 2001 f150? The prices nove have dropped several thousand in the past 4 months.
I think the new car sales - 'employee pricing' damaged the used car market - at least for me selling my f150. Rocky
Also the price of gas has had an effect on the larger vehicles. I find Edmunds and nadaguides to be the most realistic.
True. I just saw the ad on TV where even the Dodge Ram is selling for $15,000 - even with lower gas prices! About a year and a half ago when I was looking to buy one they were $28,000. I guess my procrastination finally paid off
Neighbor took a big hit at the dealership where they only offered him $1000 on his 2000 Ford truck on trade-in. He was pissed to say the least! He said the dealership owner didn't want anything older than an '01 in his lot and the $1000 was an incentive to peddle it elsewhere else they send it to salvage/auction house.
Now with gas prices a bit lower you may find a buyer. Good luck.
B~
True, and they're still not as cheap as they could be. 3 and 4 year old trucks are still priced above new ones at a lot of places. Even the repo-ed ones at the bank! They're not selling. If you can get a new one for $3000 under invoice, where does that put one with 50,000 miles on it?
The price of gas is also a factor, but it's a much different factor. If 50% of yesterday's new car buyers drove a truck, and 30% of tomorrow's used car buyers are shopping for one, then yeah, there's going to be a problem.
It won't be easy for supply/demand forces to balance, because trucks have so far to fall to become a "bargain" if you don't want to pay extra to drive one. They've traditionally held their value extremely well, and it's going to be hard to stomach.
The writting has been on the wall for some time now. Dealers try to get max dollar for used one because thats where theymake their money because they are not doing it on new ones.
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