Prices of Large Used Pickup Trucks and SUVs Surge Over 20%
The average wholesale prices of large SUVs were up 25% this past May when compared to the same time last year. The prices of full-sized pickups are up 21%.
Why the huge surge in prices? Last year, when gas prices started hitting record highs, sales of gas-guzzlers plunged. Nobody wanted them (which is exactly when you should buy them).
Now that gas prices have come down, people are again flocking to trucks and SUVs.
If you're looking to buy one of these large trucks or SUVs, you missed your best opportunity last summer.
Many analyts expect gas prices to level off this summer, but if they do shoot up like last year, we can expect the prices of these vehicles to come back down.
That's when you want to make your move! Remember, car prices are all about supply and demand. You want to buy when demand is low and hold off when demand is high. As much as everyone hates high gas prices, if you want to buy a large truck, you should be hoping for higher gas prices to save thousands on a new or used truck.
My Recommendation for Car ShoppersTrueCar, Edmunds, and 1-800 Car Show are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
California Residents - Important:There is a new online car buying service called Roadster, available only to California residents, which I highly recommend you try - especially if you hate the stress of haggling with a car salesman. They provide an expert concierge who negotiates the price of the car and delivers it to your home with zero hassle - you never have to interact with a dealership. Here is my in-depth review of Roadster and why I recommend it.
- Gregg Fidan
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About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.
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