Buy a new truck now? Or wait?

[skunked again]

We're in the market for a 3/4 ton truck. We have a trade-in. Would you do it now? Quit looking until this winter or spring ?
Any predictions on what used prices will do?
Reason/excuse for this - We bought a travel trailer early this summer. Need a bigger tow vehicle.

Also, your reason (s) for such.

[Micanopy]

Buy now so you can get ready to go when it cools off.

[DockShootinJack]

Seems now with high demand and low supply used truck prices are quite inflated. At least in my area

[icehouse]

I spent 29 years in the automotive manufacturing area. I will not say a specific brand, but if you look at my location, you'll probably be able to figure it out. If I were in the market for a New vehicle, I would wait. With all of the issues that the automakers are experiencing, I foresee recalls and major issues coming in the next couple of years.
Now, if you are looking for a Used vehicle, I would shop wisely. I don't think used prices are coming down much in the next 24 months, for the very same reasons that they are high right now. People are seeing the issues that these companies are having.


Just my 2 cents.

[SuperDave336]

My cousin just sold his used truck for $4,000 more than he paid for it...lol. Put money in the bank and said he would buy another when prices went back down to normal.

[DockShootinJack]

My cousin just sold his used truck for $4,000 more than he paid for it...lol. Put money in the bank and said he would buy another when prices went back down to normal.

Saw a lot of boats being done the same way

[Ketchn]

been shopping myself , here they are flat out desperate to sell me a new one .
why , probably the same old thing , the next years models are coming in soon .
might get one at invoice or lower before it is over with.
know the market and how it works , if they have an abundance of certain makes or models
they will get crazy cheap near the end of the months late in the year .
tired of paying taxes on them and need room for the new ones .
my 27 cents on it ...

[wannabe fisherman]

I work for an auto group here and I can tell you this, You can get a good deal on a new one IF YOU CAN FIND WHAT YOU WANT. You'll get more for your trade, like the other post said, than it's worth most likely. Used to used isn't always a good way to go right now because dealers are paying premium prices at the auto auctions just to get stock to put on their lots. This chip problem, made in China, is a real problem and causing quite a stir in the market and if you want new most likely you'll have to order what you want. Right now orders are stacking up and the wait COULD be anywhere from 4 to 6 months OR MORE. If you don't mind a few miles on a new one ask your dealer if they can find one in inventory at another dealer, they have a way to check every dealer in the U.S., IF they can find it then they'll TRY to work a trade for one of their new stock. If not that then the dealer can try to buy it out right from them. I went to Philly to get a landscape dump for our store for instance. You just have to get out there and see if you can find what you want and go from there. Hope this helps you out.

[BobC]

I spent 29 years in the automotive manufacturing area. I will not say a specific brand, but if you look at my location, you'll probably be able to figure it out. If I were in the market for a New vehicle, I would wait. With all of the issues that the automakers are experiencing, I foresee recalls and major issues coming in the next couple of years.
Now, if you are looking for a Used vehicle, I would shop wisely. I don't think used prices are coming down much in the next 24 months, for the very same reasons that they are high right now. People are seeing the issues that these companies are having.


Just my 2 cents.

I think this analysis is correct. The OP has a problem in that they need bigger right now, and will have to pay steep prices for the foreseeable future.
Bob

[skunked again]

Thanks all!
Two of the dealers we stopped at, have a $5000 & the other has a $3000 markup, for chip shortage. I wanted to walk when we found that out. Of course it wasn't on there website. We tried to deal with the one that had the $3000 markup, they then offered us $5000 under KBB for our trade. We walked. That was two weeks ago, that vehicle is still there.
The dealers we've been to since, Haven't had any mark-ups.
We stopped at several others, they are not doing this markup stuff.
If the used wasn't so expensive, id go that route.
The good news is, we're not in a hurry.