Very High Used Car/Truck Prices - The New Normal, Or...? (F150, vehicle)

[like-2-hike]

I'm looking to buy a used truck - probably an '99-'05 F-150 4x4 supercab or supercrew (half or full-size back seat) - gas, not diesel. The prices seem awfully high - like $10k for an '02 with 190k miles, or $25k for an '05 with 70k miles. Is this the new normal, or is there a lot of wiggle room in dealer asking prices vs. final sales price?

The last truck I bought was in 2005 - it was an '01 F-150 4x4 King Ranch with 30k miles, and I paid $24k for it. To find a similar vehicle now (say a 2010 model year), I'd be paying about $32k based on current asking prices. That's $8k - or 33% more. That seems quite high.

I'm willing to drive several hundred miles, but don't really want to go cross-country. Are my expectations unreasonable, or are prices higher because dealers expect a lot of negotiation, or is this a regional phenomenon (I'm in Arizona)?

If I can't find a truck, I'd also consider a Ford Explorer/Expedition or Mercury Mountaineer, but those seem to be priced similarly higher than I am willing to spend.

Anyone traded in a truck or SUV like this recently to a dealer? Do you mind sharing much you got for it?

[himain]

Pricing depends on the market and what's going on at the auctions. You bought a truck 10 years ago-times have changed

[Cape Cod Todd]

New Auto prices are crazy which drives people to the used market which creates a demand which drives the price up.
I have a 2002 F150 Supercrew Lariat with all the options, sticker was $37,000. Today to replace that truck it is pushing $60,000 ! YIKES!
Trucks are not cheap, never have been.
Today since gas prices are down people are going back to the big trucks and SUV's which is boosting the prices. When gas goes back up truck prices will go down.

As far as wiggle room goes it all depends on what the dealer bought it for and put into it. Shop around and when you see something good at a good price jump on it.
Good luck

[hoffdano]

Used pickups have been expensive in Texas for a long time. There are lots of people that just want a truck and don't need the comfort-mobiles that sell for $50k.

So the demand is high, which drives prices up.

[Lux Hauler]

The simple solution? Just wait it out, the market will change, again.

[JohnZ963]

Buy a leftover new 2014 F-150, dealers around here are offering tons of these for $10,000+ MSRP without even starting to negotiate. You could probably get a STX 4x4 extended cab for like $26k.

[jasperhobbs]

I recently bought a 2001 F150 Super cab Lariat for $13,000 but it only has 17,000 miles and was driven by an elderly gentleman that had to go into a home. I thought it was high for the year but it is a beautiful truck and a lot less than a new one I figured so I paid the price.

[High_Plains_Retired]

I've been driving a '97 F150 XL 4x4 (3-door) now for several years so your thread topic had me looking at current prices. It looks like I may be able to get what I gave for the truck. I bought it at Albuquerque four years ago for $4,500 (cash from a private owner). The truck now has 150,000 miles on it and is in better than good condition. In the four years I have had it, mechanically, I have only changed the cruise control sensor ($25).

[Hemlock140]

Trucks have always kept their value better than cars, but the fact is, dealers are so competitive on new cars, they make up the profit on used. Back in 2007 I traded in a 1996 Explorer with 132k miles for $2,800, and saw it advertised there for $4,900.

More recently in 2013, I traded in a 2002 Jeep Liberty with 99k miles for $3,000 and they advertised it for $10,500. I have no idea what they actually got for either, but they both did sell quickly.

From what I see lately on late model vehicles, the really popular SUVs like Explorer and Grand Cherokee are plentiful and easier to make good deals, as are the less popular and somewhat unconventional vehicles, such as the Chevrolet Avalanche.

[stilldriveem]

Also buying from a private individual is cheaper. Just today a friend of mine paid $3000 for a mint 04 Audi A4 with 93,000 miles on it from an individual. You know it would be much higher at a stealership.