Do used truck prices jump in mid December?

[newbury]

I've been in the market for another truck. Found one I liked on Carfax for $36.9K, sent a message about it. No reply from dealer next day. Two days later price at dealer is up to $38K.
Do they raise prices just before they drop them for a News Years sale?

 

[MAX-24-Dean]

I don't think so.
When my brother was a used car salesman, he said it was common for them to raise the price after someone contacted them via e-mail. They would not respond to the e-mail, but would raise the price hoping that the person was real interested, so they could make a better margin.
Part of what is going on right now is the fact that vehicles are just to expensive for a lot of buyers. Most lots have a 200 day or more supply of certain new overpriced units (read inflation added costs).
So used vehicles are getting marked up, but are a lower cost to the customer than a new unit.

 

[RjCorazza]

Whatever the market will bear, but that would stick in my craw. I think a smarter move for the dealer would have been to respond immediately and say that it was priced too low, and in x days the price is going to be increased.
My last used truck purchase was just the opposite... I watched a local dealer price drop several times and then show up on other media (Ebay at the end). Didn't call or email, just showed up with an even lower offer, but reasonable.

 

[not2old]

I just bought a new F350 for $95,000. because I wasn't going to pay $60,000 for an eight year old truck with no warranty. This is the second time I've bought new because the used prices were crazy.

 

[deserteagle71]

I just bought a new F350 for $95,000. because I wasn't going to pay $60,000 for an eight year old truck with no warranty. This is the second time I've bought new because the used prices were crazy.

So true. Around here, Dodge/Cummins trucks older than 2007 (pre-emissions) with 200,000 miles on them are selling for essentially what they sold for as when they were new. Some people are willing to pay those outrageous prices for a used vehicle just so they don't have to put up with the problematic new engines that are all loaded down with emissions crap.

 

[Hay Dude]

My local Ram dealer has (2) 2024 crew cab 2500 4x4 Cummins with Tradesman package for $67,500.

 

[not2old]

My local Ram dealer has (2) 2024 crew cab 2500 4x4 Cummins with Tradesman package for $67,500.

Convert that to Canadian dollars and it comes to about$95,000.00. Add a 25% tarrif to that and nobody will be buying new except government. Mine is a Lariat supercab with an eight foot box and HO diesel.

 

[Tomtint]

I've been in the market for another truck. Found one I liked on Carfax for $36.9K, sent a message about it. No reply from dealer next day. Two days later price at dealer is up to $38K.
Do they raise prices just before they drop them for a News Years sale?

A lot of dealers throw cars up online as soon as they are bought at auction.. Then it gets to the dealership and goes through the shop and they replace worn or broken parts...And the cost of that RO is then added to the car at retail.

 

[Hay Dude]

Convert that to Canadian dollars and it comes to about$95,000.00. Add a 25% tarrif to that and nobody will be buying new except government. Mine is a Lariat supercab with an eight foot box and HO diesel.

Has that happened?

 

[BleedingOrange]

All the dealer lots I have wandered around here in Eastern Ontario are jam packed full. All the manufacturers better sharpen their pencils real good, real soon. Times are already tough for most consumers, and they are going to get much worse before they get better, if they ever do. It appears to be a big waiting game between consumers and dealers. The good times for many consumers getting easy credit are over. Now dealers have to sell to wiser folks that are going to have the upper hand during negotiations. Ever since the covid days, consumers have been taken advantage of, now the tide is turning, and many of those same dealers are going to go bankrupt.

 

[Hay Dude]

IMO, it’s probably one of the best times I have ever seen to be a cash buyer, and it will only get better until inflation and interest rates fall to get more financing buyers in the door.

 

[Gem99ultra]

I've been in the market for another truck. Found one I liked on Carfax for $36.9K, sent a message about it. No reply from dealer next day. Two days later price at dealer is up to $38K.
Do they raise prices just before they drop them for a News Years sale?

Your story sounds identical to an experience I had only 3 weeks ago. Carfax listed a pickup @ $28K. I went to the dealer to buy it and the dealer pulled up their website listing that truck for $30K.
After applying my non-professional negiotating skilles, I ended up buying it for less that the $28K
This particular dealer had 168 used vehiclals on the lot. At the times I was at that dealer during this process I never saw more than 2 prospective customers present at any given time. Car sales are definitely slow, presenting a good time to negiotiate prices.


..

 

[Oaktree]

Around here, Dodge/Cummins trucks older than 2007 (pre-emissions) with 200,000 miles on them are selling for essentially what they sold for as when they were new. Some people are willing to pay those outrageous prices for a used vehicle just so they don't have to put up with the problematic new engines that are all loaded down with emissions crap.

Maybe in your part of the country. Around here a 15+ year old truck is going to be nothing but rust.

IMO, it’s probably one of the best times I have ever seen to be a cash buyer, and it will only get better until inflation and interest rates fall to get more financing buyers in the door.

I dunno about that. I bought 2 vehicles (used) this year with cash, and neither dealer was all that interested in negotiating. I was able to knock a little off the prices, but not much. You're more likely to get a better deal if you finance thru the dealer since they're making money from that.

Your story sounds identical to an experience I had only 3 weeks ago. Carfax listed a pickup @ $28K. I went to the dealer to buy it and the dealer pulled up their website listing that truck for $30K.
After applying my non-professional negiotating skilles, I ended up buying it for less that the $28K
This particular dealer had 168 used vehiclals on the lot. At the times I was at that dealer during this process I never saw more than 2 prospective customers present at any given time. Car sales are definitely slow, presenting a good time to negiotiate prices.
..

Has auto buying tanked that much in the last couple months? When I bought my truck in Sept. there were probably 3 other customers in the dealership during the hour or so we were there. I'd consider that to be fairly busy. At least one of them was in the process of buying. It wasn't a huge dealership...maybe 4 sales people in the office.

Truck prices are insane. Recently a colleague of mine got a bit over $11k in trade for a 14 year old Silverado, maybe mid-line trim level and some rust. He didn't expect to get that much, and this was towards a used truck.

 

[BleedingOrange]

Trade in values don,t really mean much to me. It is the OTD price on the difference between vehicles that really counts. If they are giving you an over inflated price on your trade-in, but are subtracting that from a vehicle that is way over priced, then are you really getting true value for your trade-in ?

 

[BleedingOrange]

The vehicle prices did jump in December, so they can discount them back to MSRP, and let folks believe they are getting a huge discount. 99 % of the dealers I have had dealings with would steal from their own mother. All they care about is a sale, and will lie thru their teeth to get it. I have seen it many times over my 50 plus years of buying vehicles, an honest car salesman is about as scarce as hens teeth. The only other trades worse are most mechanics and repair shops.

 

[not2old]

Has that happened?

Not yet but it's expected.

 

[Hay Dude]

Maybe in your part of the country. Around here a 15+ year old truck is going to be nothing but rust.

I dunno about that. I bought 2 vehicles (used) this year with cash, and neither dealer was all that interested in negotiating. I was able to knock a little off the prices, but not much. You're more likely to get a better deal if you finance thru the dealer since they're making money from that.

I’m talking about NEW, not used.

Has auto buying tanked that much in the last couple months? When I bought my truck in Sept. there were probably 3 other customers in the dealership during the hour or so we were there. I'd consider that to be fairly busy. At least one of them was in the process of buying. It wasn't a huge dealership...maybe 4 sales people in the office.

Truck prices are insane. Recently a colleague of mine got a bit over $11k in trade for a 14 year old Silverado, maybe mid-line trim level and some rust. He didn't expect to get that much, and this was towards a used truck.

In December car dealers, especially in this market are hungry to sell. Let’s face it, with interest rates this high, 1/2 their normal buying audience is priced out of the market

 

[Bearsixty7]

Around here they are advertising 0% interest AND about 5K off or 0.9% or 1.9% and so many thousands off, depends on brand.

I had an email a week or so ago from an Oklahoma dealer that was showing up to 20K off 3/4 and 1 ton pickups, Ram and GM IIRC.

 

[not2old]

The vehicle prices did jump in December, so they can discount them back to MSRP, and let folks believe they are getting a huge discount. 99 % of the dealers I have had dealings with would steal from their own mother. All they care about is a sale, and will lie thru their teeth to get it. I have seen it many times over my 50 plus years of buying vehicles, an honest car salesman is about as scarce as hens teeth. The only other trades worse are most mechanics and repair shops.

The truck I bought two weeks ago where I paid $95,000 Canadian was stickered at $110, 300.00

 

[Gale Hawkins]

I've been in the market for another truck. Found one I liked on Carfax for $36.9K, sent a message about it. No reply from dealer next day. Two days later price at dealer is up to $38K.
Do they raise prices just before they drop them for a News Years sale?

Personally, I can see the high price of new trucks slowing down desire for people to trade and therefore limiting the ability of quality used trucks on the market at this time. But who knows?