July 5, 2023 | If you are in the market for a used truck, you will want to ensure you get a fair deal whether you are shopping from a dealership or from a private seller. The same applies if you are looking to trade-in your current vehicle for a new one. You want to get the value that you and your vehicle are entitled to, but determining this value can be difficult if you are not aware of all the factors that can influence market value. Following are 3 easy steps to guarantee you a fair transaction:
1)Use an automobile guide to determine the actual value of your truck. Kelley Blue Book or KBB and NADA guide are both highly recommended for this endeavor. Dealerships and private sellers cross-reference both of these guides in order to establish rational prices, and by educating yourself with these values, you are more likely to receive a fair offer.
2)Check out the corresponding websites for both KBB and NADA. The internet offers the most up-to-date information regarding market values of vehicles, so be sure to check any and all boxes that apply to your vehicle and the additional equipment it may or may not contain. Including all pertinent information will ensure the most accurate value. You will want to include your zip code as well so that you can see what different vehicles are worth in your area. It may pay off to travel to a nearby city if prices vary.
3)Honesty is key when listing a vehicle or shopping around. When you are asked about the condition, honestly list whether it is Excellent, Good, Fair, or Poor in order to receive the most accurate price available.
What To Look For When Buying a Used Truck
Check out the useful video below on things to look out for when buying a used truck:
It can be an overwhelming hassle finding the best used truck for your buck, but the information you learn from this article will give you an edge over the used vehicle market. Another thing to prepare for is the price. Especially true if you have only purchased cars. Truck are work horses and are made to take a beating. So used trucks do come with a hefty price tag, which also helps when you go and want to resale your truck. After reading, you will know exactly how and where to look to find the best price for your next truck.
- Consider the following before you start shopping around:
Which make do you want?
What mileage and condition are most suitable for your needs?
Another thing to really make a note of are the features that you really need. Do you really need the jump seats in the second row? If you don't plan on carrying many passengers then save yourself the extra money and opt to not get them. Especially since they are only good for short trips.
When you clarify those details, finding a fair listing gets easier. Do a little research and compare/contrast different makes and models. Some manufacturers often keep the same style of vehicle from year to year, resulting in higher resale prices, while other manufacturers that change the body type often tend to drop the market value of the truck. For example, while retaining the same functionality as the Ford F-150, the Dodge Ram will boast a less expensive price because of its body changes over the years.
When researching, be aware of the vehicle’s availability. If the car lot is full of the make and model you are looking for, you will have more bargaining leverage than if you were looking for a rare model.
A key point in researching your used truck is the condition of the vehicle. As stated earlier, the condition will typically be listed as Excellent, Good, Fair, or Poor, and the worse the condition the more likely you are to negotiate price. Be aware that it pays off to know a little about car maintenance if you are in the market for Fair or Poor trucks. Again, research here is the key.
When assessing the condition of used trucks, you want to keep an eye on the following 4 things:
Cleanliness of the engine
Mileage is a huge factor when looking at used trucks. Where high miles on a luxury vehicle or a sedan are not particularly appealing, higher mileage on a truck is acceptable since they are specifically built to withstand heavy usage.
You can search for KBB trucks just like we have searched for cars with KBB. The steps are fairly simple. Just go to their website www.kbb.com and look for used pickup trucks section or simple pickup trucks section for new trucks. After filling in the necessary details, the suggested KBB trucks value will show up based upon your choices. Similarly, you can find NADA trucks value on their website.
If you take the steps we have recommended in this article, and dedicate the time to a little research either in guides like Kelley Blue Book or Nada and/or on their corresponding websites, you will be well on your way to purchasing or trading in a used truck for a fair market price.