Truck Shortage = Profit

[Cableman]

Is kbb really accurate on these?
More then i paid 2 years ago for my 16 laramie, yeah i only have 17k miles but....

 

[Tray Burge]

My best friend is a Regional Director for Panasonic electronics, they provide the head units and electronics for just about every American and Japanese made car and he said there's a software development shortage. Vehicles are being stored just waiting for components.

 

[6.7CumminsDrvr]

Is kbb really accurate on these?
More then i paid 2 years ago for my 16 laramie, yeah i only have 17k miles but....

View attachment 246437

They’re a good ballpark figure. The value of used trucks is through the roof at the moment but the bubble won’t last.

check car gurus and see what prices are listed, I was shocked.

 

[Barney556180]

Is kbb really accurate on these?
More then i paid 2 years ago for my 16 laramie, yeah i only have 17k miles but....

View attachment 246437

All of those market values are based on recent transactions. A good guide, but any vehicle’s true worth is what someone will actually give you for it.

 

[Fishstickz]

In KBB i put my ‘06 RCSB V6 base model truck’s stock settings (manual locks, windows, manual cloth seats, etc) and said I could possibly sell it for over $6000. I bought it for $5500 4 years ago with 106k miles, and have almost 180k now.

With everything I’ve added like power windows, leather seats, wheels, lift, headlights, I’ve had a couple of folks offer to buy it for almost $8000. I think they’re nuts but it boosts my ego lol

Nothing of mine is as impressive as you guys are doing, but it’s still pretty crazy that even the value of 15 year old plain-jane trucks are going up because of all of this. At this rate people are gonna be selling their 2nd gen 318 rams with bad paint for 10 grand lol


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[Dr. Righteous]

KBB showed 20K for my RAM. Man, I started to think how great it would be to have that cash. I would build a dang nice shop building. I sold Dad's Chevy truck to Carvana and got a really good offer. I ran my RAM through it and they offered 16300 and it is in really excellent shape. NO THANKS. I'll keep it for that.

 

[rubes7202]

View attachment 246120


Many may be aware of this, though I was not until it happened. My truck (18 Ram Rebel with 28.5k miles) lease was up this upcoming May 5th. The calls from Chrysler had been coming in steady asking “what my intentions where”, keep, return, lease something new. I was getting a few calls a week and it was honestly a little annoying. Since Covid and working from home I’ve found the need for a full-size truck had dropped to almost zero. I was considering a few different replacements when I dropped my truck off. That’s when during one of the multiple calls I inquired about the pay off residual. It was only $27k. The market for my truck in Southern California was $48-$50k (which is crazy). Said market was muuuuuch lower when I leased the truck 3 years ago, hence the low residual. Long story short, I planned to just go out of pocket and buy the truck out, and attempt to sell it myself. I filled out that KBB what’s my car worth online thing. Within 30 minutes I had multiple emails, calls and texts from dealers wanting to buy my truck. Within an hour I had set up a drop off with a local Mercedes Benz dealer of all places, as they had offered $43k for the truck. No payoff needed. They’d handle that. So I drove over. Dropped the truck off, signed a few forms. They now send a check for $27k to Chrysler, when Chrysler gets that in a few days, MB overnights my profit check of $16k to me.
So in one day I went from planning on dropping off my truck and being out of pocket a few grand for a new vehicle to actually making $16 grand. Within the following 48 hours I had 5 more calls from dealers. 1 offering $41k, 3 offering $43k, and 1 offering $44k. Even Carmax chimed in with $42.5k.
Do your research fellas. This little flip beats the hell out of any stimulus check.

off topic, but what size tires and wheels are those?

 

[b-real]

Many may be aware of this, though I was not until it happened. My truck (18 Ram Rebel with 28.5k miles) lease was up this upcoming May 5th. That’s when during one of the multiple calls I inquired about the pay off residual. It was only $27k. The market for my truck in Southern California was $48-$50k (which is crazy). Said market was muuuuuch lower when I leased the truck 3 years ago, hence the low residual.

FYI, residual buyout of a lease has nothing to do with the market, either when you first lease the vehicle or when you buy it out. Lease buyout price is based off of MSRP of the vehicle and is generally around 55% of the original sticker price for a 3 year lease. The day you sign your lease you will know what the residual buyout price will be at the end of the lease.

And if I could do without a truck for a few years I would for sure sell now while prices are high, but I would not want to buy a truck right now because I would pay out the nose and who knows when I would even be able take delivery of a new truck.

 

[Perferd]

For buyers like me this is horrible....hell beyond horrible...

Dealers are asking astronomical numbers for their old miled out trucks and even more for less miles.

Guys are putting their trucks on places like kijiji just seeing if folks will bite. It's absolutely nuts.

Hell I posted a few trucks and guys here freaked out on the asking price lol.

I have a truck built for me just sitting in JS status but that literally means nothing these days. Its a classic so zero priority for ram which means it could be as early as July or as late as 2022 for delivery lol...

I'm hoping a truck I was looking at the guy comes back to me to see what I'll give him. He was asking $37500 would take $35500 but I said no. I have seen him relist it several times now and it's at $36500. I first offered him $34k so maybe just maybe...

 

[Buntcake]

It is crazy how hot the used market is! KBB has my 2018 Laramie with 32k miles at about $43k. Paid $45 for it 3 years ago, but put about $10k into it after the purchase in accessories. Tempting to sell, but I just know I would end up buying another one at todays prices! I am in San Diego where the truck market seems to be in higher demand.

 

[Doug Ram]

So happy to have taken delivery on my 2021 "Big Red" at the start of February. At that time dealer said he couldn't get any trucks unless they'd been (back) ordered by customer.... I had ordered mine early in November. It was nearly 3 months from order to delivery.

 

[jejb]

My 2014 has 48000 miles on her. I paid 30500 5 years ago. Carvana offered me 28700. Weird part is they increased the value of my ram when I checked the lift and oversized tires box.

My problem is any truck that I would upgrade to is like 55k lol

Yeah, the rub is to replace the truck with a new one is pricey, since they're not dealing much on them. And hard to do also, because of the low inventory most places. I'd have to order a truck to replace mine, as it's a bit of unicorn (mega rambox Laramie with every option) and I'm not likely to find one just sitting in inventory.

 

[Mbrigh3]

Yeah, the rub is to replace the truck with a new one is pricey, since they're not dealing much on them. And hard to do also, because of the low inventory most places. I'd have to order a truck to replace mine, as it's a bit of unicorn (mega rambox Laramie with every option) and I'm not likely to find one just sitting in inventory.

Agreed to get the same ram I have now is a solid 55k if not more.

 

[Krashdragon]

Wow. I just checked mine on KBB
2018 Ram 2500
Tradesman 6.4, 15000 miles 4x4,
Leer top, Bedliner,
And a bunch of stuff they didn't have on their list.
Said $49 to $51.
I could pay off this truck and buy a middle of the road Charger or Grand Cherokee and have a much smaller monthly payment.
But... I like my truck. Decisions, decisions....
Would only make sense because I'm changing jobs and will make way less.
Semi-retiring...

 

[tron67j]

Wow. I just checked mine on KBB
2018 Ram 2500
Tradesman 6.4, 15000 miles 4x4,
Leer top, Bedliner,
And a bunch of stuff they didn't have on their list.
Said $49 to $51.
I could pay off this truck and buy a middle of the road Charger or Grand Cherokee and have a much smaller monthly payment.
But... I like my truck. Decisions, decisions....
Would only make sense because I'm changing jobs and will make way less.
Semi-retiring...

Same truck, about half the miles. The garage door in front of it almost never opens anymore except for me to get a tool out of one of my boxes. Sigh.

 

[farout75]

View attachment 246120


Many may be aware of this, though I was not until it happened. My truck (18 Ram Rebel with 28.5k miles) lease was up this upcoming May 5th. The calls from Chrysler had been coming in steady asking “what my intentions where”, keep, return, lease something new. I was getting a few calls a week and it was honestly a little annoying. Since Covid and working from home I’ve found the need for a full-size truck had dropped to almost zero. I was considering a few different replacements when I dropped my truck off. That’s when during one of the multiple calls I inquired about the pay off residual. It was only $27k. The market for my truck in Southern California was $48-$50k (which is crazy). Said market was muuuuuch lower when I leased the truck 3 years ago, hence the low residual. Long story short, I planned to just go out of pocket and buy the truck out, and attempt to sell it myself. I filled out that KBB what’s my car worth online thing. Within 30 minutes I had multiple emails, calls and texts from dealers wanting to buy my truck. Within an hour I had set up a drop off with a local Mercedes Benz dealer of all places, as they had offered $43k for the truck. No payoff needed. They’d handle that. So I drove over. Dropped the truck off, signed a few forms. They now send a check for $27k to Chrysler, when Chrysler gets that in a few days, MB overnights my profit check of $16k to me.
So in one day I went from planning on dropping off my truck and being out of pocket a few grand for a new vehicle to actually making $16 grand. Within the following 48 hours I had 5 more calls from dealers. 1 offering $41k, 3 offering $43k, and 1 offering $44k. Even Carmax chimed in with $42.5k.
Do your research fellas. This little flip beats the hell out of any stimulus check.

Ture,but they get you if you want to buy a new one.

 

[goodcat]

Ture,but they get you if you want to buy a new one.

Very true. Its a circumstantial advantage relative to the individual. Since Covid, and my work becoming completely work from home remote. My actual need for a full size truck dropped to almost 0. For those that NEED a truck, it makes no sense to sell.

 

[OnSale]

This is such a coincidence. Just yesterday I was on KBB to value my truck and I was blown away at its value.

2012 Ram 1500
Regular Cab ST
2wd 5.7 Hemi
93,000 miles

I paid $16,000 (before discounts) for it in December 2016, it had 32,000 miles on it then and was bone stock.

Today? Fair Market Value is $14,800 and that is stock. Add to that my brand new wheels and tires, 7” lift kit and 2015 sport leather heated and cooled seats and I could sell my truck for $17,500.

Even if I don’t mark it up for those parts, $14,800 is $1,200 less then the window price it was listed for, nevermind the discounts I got where I actually paid $14,200 before my trade in value.

I am definitely in the profit zone after 5yrs of ownership and 60k miles, that is insane. 2 years ago I’d have been lucky to get $10.5k for it.


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[ripping r]

as soon as the chip problem is fixed. the price will drop back down. not like its going to stay like this. the big three are loosing to much money.

 

[Perferd]

as soon as the chip problem is fixed. the price will drop back down. not like its going to stay like this. the big three are loosing to much money.

Yeah I have been wondering what will happen. I mean these dealers are paying more for trade ins or from auctions or wherever they buy their trucks from. At some point they have to stop buying cause people won't be over paying for used when the new come back plus I would assume the manufacturers will have to offer some great discounts to get folks to the dealers to keep buying after over spending on used vehicles...