"...40% of large pickups traded during May fetched less than the loan balance."

and ...

"There hasn't been such a significant collapse in demand for a class of vehicles since the oil embargoes and inflation of the 1970s slaughtered muscle cars."

Anyone else feel like they have 'SUCKER' tattooed on their forehead? Read and weep here

 

Doesn't really bother me. My truck is paid for and plan to keep it at least another 5 years.

MikeyB

 

Knew that was coming for a while now. But who else here would kill to buy back the muscle cars at the prices they got rid of them at then, just to sell them at the prices they are at now? And from where I am sitting, if you really want/need a larger vehicle due to family size or use, then now is actually a good time to buy, kind of like the housing market.

 

K-mart Blue Light SPECIAL!!!

Good news for those of us who don't plan to sell. Time to start looking for that bargain.

 

I bought my truck in 2005. Paid $26000 for it during the employee pricing phase of Chrysler. I also had a bit of a trade off. Before this purchase, I pretty much broke even when I traded. I don't really care how much it's worth now. I bought this truck with every intention of putting 300000 miles on it. Hopefully, this will be on the stock engine. If not then so be it. By then, I will have saved enough money to buy a new one with cash.

 

bought my '04 last month with 58k miles on it. 555 6sp HO, quad/short 3500 SLT, TST/EZ, Flux 1's, PDR 40/3B twins, ARP studs, SBC DD clutch, KORE unlimited lift, Toyo MT's, tons of Geno's nick-nacks, etc.

paid $17k for it! couldn't help myself at that price

both trucks are paid for, so though I may lose some equity in them over time, the '98 has been paid for by my company, so anything I can get out of it is "made" money, and I figure I'll be in the black on the '04 for at least a LITTLE while

 

Everyone should know that vehicles are a terrible investment item. You make the best deal possible and them drive it till the wheels fall off. That's the best route.

 

i don't understand it personally, lets replace one bad financial situation for another!

 

this doesn't affect diesel trucks anywhere near as much, imo. the resale market for them (in many areas) is loaded with people who need them as pull trucks for work, horse trailers, TT's, 5ers, etc., and they can't simply pick up a RAV 4 hybrid instead.

 

That's one of the main reasons I bought one. It just make sense to me. diesel trucks are the only trucks for REAL men. If you can afford them, that is.

 

I subscribe to a slightly different philosophy... make the best deal possible and hopefully sell for as much or more as you have in it

two of my '98 12v's I actually made money on after owning them for 9-12 months, and I'd like to think I could sell my '04 for more than I've got in it

 

As a GENERAL rule, vehicles make for poor investments. Can't help it if SOME people have the midas touch.

 

oh don't get me wrong, I've had the money-sink touch plenty of times!

and yes, buy the best vehicle you can at the best price you can and drive!

 

This decade is de-ja-vu of the 1970s.

I guess I'll hang onto my truck for 30 more years and it'll be like the Mopars that sell for $75,000 today.

 

i'll be looking for your truck at barrett-jackson in 2038!