You may have noticed recently that pre-owned truck prices have gone up.

Way up.   

There are a variety of factors causing truck prices to rise. At Stallons Auto in Hopkinsville, Kentucky, we have a tried and true strategy to keep our truck prices lower, so we outperform our competition. We are passionate about providing cars and trucks that have much more value than other dealerships.  

Factors Driving Up Pre-Owned Truck Prices

The main factor driving pre-owned truck prices so high is that more people are buying them. A decently outfitted new work truck averaged $48,369 in 2018. Just 10 years ago in 2008, the average price for a new work truck was $32,694. That’s a difference of $15,675 and a 48% increase. It's easy to see why pre-owned trucks are a much better option. But when so many people are opting for pre-owned trucks over new, the higher demand for pre-owned trucks draws down their supply. And therefore, their prices rise. It’s really just basic economics.  


New Truck Prices Have Skyrocketed, Affecting Pre-Owned Truck Prices

And, the new trucks today are more plush. With leather seats, all the wiz-bang, high-tech gadgetry, and the countless driver-assist and safety features that all new trucks now possess, prices simply skyrocket into the upper stratosphere on their way to the moon.   

Some new full-size pickup trucks can cost more than $100,000.   

Sheesh!   

Because new trucks are so high priced, when these trucks get traded in, their pre-owned truck sale price will naturally be higher. Trucks have historically had better resale value than cars. And, trucks outfitted with all the bells and whistles hold their value even better. More options, better trim levels, and more powerful drivetrains simply sell for more because they are better vehicles.  

Truck Trade-Ins Keep Pre-Owned Truck Supply Down

But truck owners aren’t trading their trucks in. They see the high price of new trucks and decide to keep and refresh their truck, rather than buying a new one that costs as much as a house, in some cases. This further keeps the supply of pre-owned trucks low, which forces pre-owned truck prices higher.   


Late Model, Low Mileage Pre-Owned Trucks Highest Priced

So, which pre-owned truck prices seem to be rising the most? Late-model and low mileage trucks have seen a dramatic increase lately. This is because they are the ones most like the new trucks we just spoke of in the paragraphs above. If business owners and families cannot afford the astronomical prices of a brand new truck, they will automatically defer to the truck that is closest to new.   

You can see the reasons the price of pre-owned trucks are so high: the high price of new trucks and the lower supply of pre-owned trucks. Higher prices for new trucks push more buyers to purchase pre-owned trucks, increasing prices due to higher demand. Because new trucks are more expensive, traded-in pre-owned truck prices will naturally be higher. And since new truck prices are so high, more and more truck owners are deciding to keep their trucks long, decreasing the supply of pre-owned trucks, which, you guessed it, drives pre-owned truck prices higher.  

   

Stallons Auto in Hopkinsville, Kentucky Beats Pre-Owned Truck Prices Down!

Who you buy from can be just as important as what you buy. This is especially true buying a pre-owned truck today. You don’t need to wonder whether you got the best deal. At Stallons Auto in Hopkinsville, Kentucky you can rest easy when you buy from us. Our years in the automobile business have made us experts in keeping prices down, so the value of our vehicles is second to none. Simply put, no one can match our prices.   

Contact us to test drive a truck that won’t drive you to the poorhouse. Or just stop in.   

We can’t wait to see you.