Used truck prices... WTF???

my buddy is a die hard dodge guy.... Death wobble, wheel bearings, exhaust manifolds, entire front end, power steering rack and cooler, water pump, calipers and master cylinder, no a/c for the last 3 years.... 2010 with 120k on the clock.... No thanks! My dad's old tundra was an 09 with 140 on the clock. Tires, brake pads, fluid changes and gas! Never even changed a lamp on it.

Literally my buddy wants a beater work truck. Not a taco, not a tundra... Rust is fine, dents add character. The prices are nuts and they sell in two days. I just looked at an 05 Silverado 2wd work truck. No options 168k, dents and rust, bald tires... $10k. This thing has been whipped on since day one. I passed and it is sold as of this morning.

 

Truth. A lot of people are still livin payday to payday. I sold a Chevy pickup some time back, and the joker starts writing me a personal check for $10,000. I said sorry pal, cash, or we both go to the bank for a cashiers check. He gets a little uppity, with the you don't trust me? shit. I said no, I don't. If you got the money, the truck is yours, if you don't, I have two more buyers on hold. Never saw him again.

 

I had a buddy that worked for Nippon Denso, now just Denso. They make parts for a lot of the car companies. Toyota and Honda required more QC testing than the Big 3, and they paid a premium for that. This makes sure bad parts aren’t installed in the first place.

 

I wish they did the same thing for whoever they source their steel from. I've not seen as much rust on underbody bolts and frames from any other manufacturer.

 

I blame the higher prices on Barrett Jackson syndrome !!!

 

Last year I sold my Honda Ruckus that was stock, mint with low miles I took a check because it was an old dude. I did photograph his license and his license plate in case I got cocked over. I rather take a chance on getting a check for the full amount vs. every jerk that wanted to give me $500 or 420 in trade.

 

I blame high prices on cheap money. We didn't learn shit from the crash of 2008.

 

Scary..although right now if that price is what the market will bear...

 

Watched this with my sister. We both bought homes in 2004. My father drilled into us "don't look at the number they'll give you. Play with the mortgage calculator and figure out what you can pay every month, plus maintain the house/cars, unexpected life things, etc". I bought a 75 year old house that I've gutted one room at a time. My sister bought above her means..that plus spending on unnecessary things and spoiling her kids are the reasons she doesn't have it anymore.

I do believe the consumer should be prudent, but I also agree about the banks not helping matters. Back then my house was a disaster and breezed through the inspection. When I refinanced in 2010 they broke balls about every hair out of place.

 

I've learned vehicle prices can vary widely depending on where you live. When you say "everything out there" is that just northern Ohio? Its supply and demand, and the supply in N. Ohio pales in comparison to Southern CA where 7 of 10 trucks on the road are Tacomas and there are tens of thousands on the market at any given time. Try expanding your search zone or maybe an auction. Still, I don't know how much truck 5-7 k will buy you.

 

Here: I'll sell you mine, take your pick:

1997 C1500 350V8 2WD longbed, white Extended cab with Leer fiberglass bedcap. 293,000 miles. $5,500. New tires, new brakes, $1700 total trans rebuild two years ago by the best trans guy between Baton Rouge and Houston. Driven only by two old men: me, and a personal friend I bought it from at 189,000 'cuz I knew how good he took care of it. OIL CHANGED EVERY 3,000 MILES. Husky lines front and back. Interior almost perfect. Buckets w center console and that console on the headliner. Needs an A/C compressor.

Next up, my wife's 1993 4Runner. 411,000 miles. Stored under carport. Everything you could buy to protect the interior..its been in there since we drove it off the lot. THIRD set of seat covers. THE SEATS/CARPET/INTERIOR SURFACES LOOK BRAND NEW. The interior is perfect. No door dings. New battery, three yr old BFG A/T's KO w roughly 5000 on them. Oil EVERY 3,000 MILES. METICULOUS MAINTENANCE RECORD. ONLY HAS NEEDED FOUR RADIATORS, THREE CLUTCHES, BRAKES, ONE TRANS REBUILD. ALL NEW HOSES (AND THERE ARE A BUNCH OF 'EM), ALL NEW BELTS. Had the factory recall on the heads done twice. Never taken off-road, all miles to/from work, 59 miles one way, 5 days a week. Driven by a woman. $5,500.

Come get'em out of my shop. I need the space.

 

Built a house in 05. Me and my wife just kids outta college. About $65k combined income. No credit, no paystubs, no nothing and they couldn’t give the money to the builder fast enough. We took more than we should have but had some good life luck and did ok.

Built again in 16. Combined income about 3x that. Took 3 months to qualify for about the same amount and with about 150k positive equity in existing house.

Im sure lots of us have a similar story. On the flip side, I’ve gotten new car loans with a simple credit check, no proof of income. Even with multiple cars and motorcycles already financed. Didn’t seem to care how tied up previous funds might be.

When banks are giving away $$$ why not shoot for the moon and hope someone falls in love with your vehicle and are willing to pay.

 

Which engine? 4 or 6? 411 is a big number. Had a 93 v6 with 255 and odometer dead for 2 years after that when I sold for $3000.

 

Man I wish I still had that truck.

 

That's it! Same color and all. V6, 4WD. $3000 won't buy the air in the tires. That's the SUV every other SUV has been trying to be for over a quarter century.

 

Have you seen the collector car prices especially Muscle cars recently !!!!

I bought my 72 Camaro SS back in 1999 for $4500 , today this same car is now easily $25k or more !!! . A rusted out parts car now is $10k

Don't even get me started on the prices of 1rst gen Camaros !!!

 

It might have been leaking from the head gasket was the reason I sold. Saw a 100% restored model outta Virginia last year. Asking $20,000. Looking showroom but couldn’t pull the trigger for. 25 year old vehicle. My favorite vehicle. Thought I was the only one.

 

I got my 67 about 7 years ago for a comparative steal. I had to put new exhaust, carb and radiator in it right away to drive it. Over time put a 5 speed transmission, intake manifold and other parts into it but haven't done the big 2 yet - engine and body/paint. Still, it's value today is crazy. I have equity in it as is (not many used cars have that), but when I do paint/body and engine (probably a crate 383 stroker w/FI) I'll be upside down. But I don't care, fun car.

Regarding Dodge trucks; I was looking at used Acura NSX common mechanical issues on line - wish I had one but way too much $$ - when I found this reference to truck reliability from Consumer Reports. The first sentence is really damning - "of ALL the cars and trucks... it's the worst". Yikes!

 

No, you are not the only one. It is a member of our family. It is a prominent thread in the fabric of this family's lives. My children went to every function of their early lives in it. It is as dear as the family dog. I will have a BIG frog in my throat if it ever drives off. It's okay with me if it doesn't sell. Then it can attend my funeral. Best vehicle I ever owned. Lowest cost per mile BY FAR of any vehicle I have ever owned. It took care of my wife and kids for more than twenty years. Without fail.

 

Over two decades of cheap money has ruined everything from housing markets to higher education. Yet wage growth has been stagnant.