Average truck payment is nearing $1000

[jdgator]

-In the first quarter of 2023 the average F150 truck payment reached $986 a month.

-Some 36% of F150 payments were over 1000 a month.

-Average Silverado 1500 payment was $846.

-Average Dodge Ram 1500 payment was $900 a month.

 

[Buford_Dawg]

Dang.... My house payment before we paid it off was not that much. Crazy numbers.

 

[Cool Hand Luke]

We bought a Ram 1500 work truck for our business last year and payments are $832 a month with perfect credit. Ridiculous!!!

 

[jdgator]

Of course large truck inventory is up. There is no shortage of domestic trucks.

Ordinary market behavior would dictate that sellers would lower prices in order to reduce their inventory. But that is not the case.

My theory is that this involves the present occupant of the oval office, who does not want folks to own vehicles with internal combustion engines.

 

[livinoutdoors]

You could not pay me to buy a new truck. Plenty of nice used trucks out there. Maybe more expensive than they were a few years ago but still.....

 

[NCHillbilly]

Driving a nice truck right now with 400 miles on it, payment about half that figure, made in MS and TN, you couldn't run me down and hold a gun to my head and trade me a new F150 or Chevy or Dodge for it.

 

[sinclair1]

You could not pay me to buy a new truck. Plenty of nice used trucks out there. Maybe more expensive than they were a few years ago but still.....

Have you shopped in the last few years? Used goes for More than new on desired models.
It’s stupid out there. I ordered and waited 4 months to keep away from the high in stock markups.

It’s changing fast though, the lots are getting full again.

 

[sinclair1]

-In the first quarter of 2023 the average F150 truck payment reached $986 a month.

-Some 36% of F150 payments were over 1000 a month.

-Average Silverado 1500 payment was $846.

-Average Dodge Ram 1500 payment was $900 a month.

There were some crazy term numbers last year. People were financing 84 months.

 

[livinoutdoors]

Have you shopped in the last few years? Used goes for More than new on desired models.
It’s stupid out there. I ordered and waited 4 months to keep away from the high in stock markups.

It’s changing fast though, the lots are getting full again.

Im just guessing here, but something tells me that your idea of a good used truck and my idea of a good used truck might be very far apart in several ways.

 

[livinoutdoors]

Driving a nice truck right now with 400 miles on it, payment about half that figure, made in MS and TN, you couldn't run me down and hold a gun to my head and trade me a new F150 or Chevy or Dodge for it.

Come pick me up!

 

[sinclair1]

Driving a nice truck right now with 400 miles on it, payment about half that figure, made in MS and TN, you couldn't run me down and hold a gun to my head and trade me a new F150 or Chevy or Dodge for it.

I have 500 on the new Toyota. You stayed with Nissan I’m sure. No big three for me either

 

[menhadenman]

Haven’t had a truck payment in a long time. But sure feel bad for the young folks making under $30k like I did for close to two decades.

It’s almost like we’re being destroyed from within?! Nah that’s all conspiracy.

 

[sinclair1]

Im just guessing here, but something tells me that your idea of a good used truck and my idea of a good used truck might be very far apart in several ways.

It still stands. A 1986 good used truck cost more than they did new. I still drive my FJ which is selling for what I paid new in 2012. More in lower miles

 

[menhadenman]

I have 500 on the new Toyota. You stayed with Nissan I’m sure. No big three for me either

With this strike going on I doubt they’ll get any cheaper. Will probably be time to go back to something different after I drive the wheels off my duramax.

 

[Milkman]

I’m glad people think they need to keep a new truck. It makes those low mileage 1-2 year old trucks available for people like me that buy one every 10 years or so.

 

[NCHillbilly]

I’m glad people think they need to keep a new truck. It makes those low mileage 1-2 year old trucks available for people like me that buy one every 10 years or so.

At the moment, they are about more expensive than a new one.

 

[Milkman]

At the moment, they are about more expensive than a new one.

My 10 year purchase window doesn’t start until 2025

 

[livinoutdoors]

It still stands. A 1986 good used truck cost more than they did new. I still drive my FJ which is selling for what I paid new in 2012. More in lower miles

Yes but please tell me you understand this concept. No matter what prices were in 1986 or 2012 surely you can buy a 2005 model truck for less than a 2023 model truck.

 

[deers2ward]

92,000 miles on my 2016 2500 duramax. Paid off in 2018. Gonna drive her as long as I can.

 

[sinclair1]

I’m glad people think they need to keep a new truck. It makes those low mileage 1-2 year old trucks available for people like me that buy one every 10 years or so.

I am scared of low mileage used.
All this technology has people trading their problems in on a new truck. I have a friend who got tired of electrical issues with only 3000 or so miles on one.
I was on the used train for years but for me, since I keep them over 10 years, new is better for me