misterp Posted January 29, 2007 Report Share Posted January 29, 2007 (edited) Was just looking and the SRT10's are selling for the same price as the SSS's on eBay; man I did not expect those trucks to depreciate that low (the ones with mileage; ignore the brand new dealer ones). Or, maybe our trucks are holding their values a bit better than I expected Mr. P. Edited January 29, 2007 by misterp (see edit history) Quote Link to comment Share on other sites More sharing options...
allballz57 Posted January 29, 2007 Report Share Posted January 29, 2007 It seems dodge truck value's drop like a stone,I have a lot of guys I work with who bought hemi's and are kicking themselves at the drop in value on these trucks.IMO chevy is the way to go for long term value Quote Link to comment Share on other sites More sharing options...
NTMID8R SS Posted January 29, 2007 Report Share Posted January 29, 2007 check auto trader or edmunds and you can see that pretty much ALL Dodges have shit for resale value. My dad owns a used car lot, and he won't touch any Dodge, unless of course he just stole the thing on a trade or something. My wife wants a Durango , but checked the resale value on them, they are about 26 or 27K brand new and loaded, and only 16 or 17K with 5 or 6K miles. I had to show her on paper just to convince her. Quote Link to comment Share on other sites More sharing options...
brobradh77 Posted January 30, 2007 Report Share Posted January 30, 2007 Could be due to how cheap they look on the inside Quote Link to comment Share on other sites More sharing options...
Black2003SS Posted January 30, 2007 Report Share Posted January 30, 2007 The used car market sucks in general. Unless its a niche vehicle like a corvette, CTS-V, Viper, Mustang, it doesnt hold its value. Remember what happened to minivans a couple of years ago? The used market tanks on them because theres always somethign so much better coming out and so many of them sold. The market was flooded. My parents bought a Pontiac montana for like $30k fully loaded thunder package crap, dvd, etc...and one year later they decided they wanted a SUV, it was only worth $13k on trade in at 4 different dealerships, meaning the retail market might have been $15k? Well...now everyone wants SUV's and buys them new on cheap lease, turns around and trades them in. Dealers can't get rid of Durangos, Trailblazers, Explorers. Trucks are almost the same because of all of the new models out. If you buy a vehicle nowadays, you need to be prepared to keep it 3-5 years...not 1 or 2. And with the way the prices on used vehicles are right now, I can't imagine why someone would even buy new...maybe lease, but not buy. I think the leasing concept was a double edged sword. It got many many people into cars they have no business affording. It got consumers caught in lease hell...never having a vehicle paid for and always needing a new vehicle. When your two year lease is up, you have to buy it or trade it in....9 times out of 10 for a higher payment than you originally had...you cant extend the lease for the same payment you have. Like ToynGXP said...$565 for a lease on a GMC Envoy? WTF? The auto industry created leasing to sell more cars period...they did not think of the fallout from doing so and now the entire market is paying for it. There is a Dodge dealer here that just advertised 30-50% off every 2006 model left on their lot...thats desperation. I'm sure they are making money on the financing end and Dodge is eating alot of it though. Quote Link to comment Share on other sites More sharing options...
misterp Posted January 30, 2007 Author Report Share Posted January 30, 2007 ...The auto industry created leasing to sell more cars period...they did not think of the fallout from doing so and now the entire market is paying for it. ...Very intelligent point, I did not think of the situation that way. The same exact thing is happening in home loans too, get people into homes cheap as possible and then a few years later they can't afford what they've gotten themselves into. Quote Link to comment Share on other sites More sharing options...
gixxerrider Posted January 30, 2007 Report Share Posted January 30, 2007 I will just keep the SSI till the wheels fall off. Quote Link to comment Share on other sites More sharing options...
Black2003SS Posted January 30, 2007 Report Share Posted January 30, 2007 The same exact thing is happening in home loans too, get people into homes cheap as possible and then a few years later they can't afford what they've gotten themselves into. Exactly...thats why I take responsibility and advise my clients accordingly. Most loan officers don't care what happens after the loan closes as long as they get their commission, but I can say I sleep very well at night knowing my clients are taken care of properly. You would vomit if I told you some of the horror stories I have heard and seen personally happen. Quote Link to comment Share on other sites More sharing options...
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