The big 3 US automakers are stopping production on pickups, will that increase the value of my late model trk?

Question

I own a 2005 Ford F-150 FX4 4x4, 16K miles

will there be a shortage of new trucks the next couple years making my late model used truck worth more?

note: I was insulted when I went to trade in my truck and was only offered $8K trade in price, my truck was $34K new in 2005

Answer 1

Well, you're sort of right. The Big Three are severely cutting back on production of pickups, but they'll never stop production of them. Why? Fleet sales.

That being said, you own something that was mass-produced, and even if you kept it pristine for 10-plus years, I wouldn't expect to get back what you paid on it.

$8K in trade? Don't be surprised. The market took a huge dive as you allude to, and dealers just simply do not want them on their lot right now. They can't sell them.

Answer 2

Well, the 1st answer is correct. But also look at it this way, many truck owners will have low mileage trucks at home b/c they are too expensive to drive. So later on, if you keep your mileage low, your truck may go up in value. Not as it was when you bought it new, but in time as trucks will always be in demand, you might get lucky and get some more money for it. Ya it does suck that resales are bad, but trucks have always been a little better than suv's because they have better functionality. If a dealer has an overstock of new & used trucks on his lot, then you won't see a good trde value there, but selling it privately probably would do you better.

Answer 3

well they are not selling trucks like they are doing cars right now.   they are slowing down because of this.  people are trading in there trucks for next to nothing because the auto makers cannot move them off there lots.   if gas went back to .899 a gallon than i can see trucks become used again.

Answer 4

It all comes down to supply and demand, aka, economics.   The more demand, and less supply means, the more an item is worth, and viseversa, the less demand and the more supply, the less the item is worht...You should not be offended by the trade value,  its just  the way the market is right now.  Because of high gas prices, dealers are not just having a hard time gettin rid of the new ones at $34k, but also the pre owned ones at $10k,(remember, they have to seel it back at a profit).  Now in a couple of years, you may get more than $8k or at least the $8k, yes even what they origianl offers, all depends on the market, you may even get less. But you have two things in your favor, you have very low miles for a three year old car, and its a 4x4.  Resell values are higher on a 4x4.  You should feel back, just think of the guy who bought the same truck on the same day and has over 80k miles on it, you think he got offered $8k for his?

Answer 5

First of all, your truck may have STICKERED for $34k, but there were discounts and rebates as well at that time...truck probably realistically sold in the mid $20's.

Second, guess why production is being cut on trucks....yup, sales have slid. Prices are not set by dealers, but by actual retail customers. Its called supply and demand. Right now, consumers are snapping up 4 cylinder late models like they are going out of style, which is overinflating the values of gas misers, while the trucks have crashed hard in value.

The days in inventory supply of trucks will all but guarantee cheap truck prices for a long time to come.

As a side note, we have a truck that gets about 16 MPG and a car that gets about 28 MPG....in an average week of driving, the truck costs around $17 more to fill than the car...hardly enough for me to sell my truck for peanuts!

Answer 6

that will not increase the value due to the fact gas prices are pretty high and nobody really want any thing that drinks alot of gas

Answer 7

No, people aren't  buying trucks as gas prices are so high.

Answer 8

Nobody is buying trucks.   Inventories are full.   They are backed up at the factory with trucks that no dealership will take because the dealer has no place to put them because the ones on the lot are still on the lot.      Nobody wants them.     You still can get 8 for yours.  Wow.   That is how bad it is.

Answer 9

Are they really stopping production completely? Thats crazy. Aren't pickup trucks some of the best sellers? Don't be insulted, cars deprecciate incredibly fast. It might be worth  a bit more if you keep it in good condition.