Now’s the Right Time To Buy a Used Pickup Truck
For some folks, a pickup truck is a necessity and not a luxury. If that’s your situation, buy a used pickup because values continue to drop. Odds are pretty good you can pick up one that was owned by somebody who wanted a pickup for some misbegotten image enhancement, but then decided the fuel expense wasn’t worth the ego boost.
Manheim Consulting says the average value of used pick up trucks has decreased 12 percent since April 2007. A well-appointed 2005 Ford F-150 can be had for $12,000, which is a good deal for a good truck. Dale Wickell, the About.com Guide to Trucks, has a comprehensive overview of trucks on the market to help you decide which is right for you.
It might be tempting to buy new, but the increasing devaluation could present financial problems if you need to trade the truck in within a couple of years. That same scenario doesn’t apply as much with a used truck because its decrease in value will never be as steep in the same time period.
As always suggested, make sure you get a thorough inspection by an independent mechanic before buying any used vehicle. Follow this advice for a preliminary inspection of the truck you want to buy.
2005 Ford F-150 pickup. Photo © Ford
I agree with you on this. Let us first understand that a car is “commercially” old three years from the time it was produced or purchased. In fact, a new car is worth 60-70% less two-three years from the time you paid for it. Technically, a new car depreciates as fast as the “new” scent in your car disappears.
With used cars, you only need to be extra picky with your choices. Research, test drive, and, as advised in your article,”make sure you get a thorough inspection by an independent mechanic before buying any used vehicle. Follow this advice for a preliminary inspection of the truck you want to buy.”
Thanks for this post!
Robert
With annualized sales in June expected to be 12.5 million units, used prices have farther to fall, especially for used pickups and SUVs. The credit, mortgage and fuel crises are adding up to a perfect storm for the car companies.
I’m interested in buying another truck, but am not going to start making inquiries until I see more motivated sellers, particularly those who need to make house payments.
You make an interesting point – but be leery of somebody selling a vehicle to make a house payment. The maintenance of the vehicle is going to be abysmal. Unless, of course, one of the reasons they´re losing the house is they poured too much money into the truck. Wouldn´t be the first time that happened!
Pretty nice site, wants to see much more on it!