Drivers who are considering purchasing a used truck for their future off-roading adventures may want to think again. The cost of used trucks and SUVs remains high, making it more difficult for you to find great-value deals. It may also mean it's harder to get an off-road driving career started, leaving you with the task of making truck mods to other vehicles.
Prices up midway through 2013
According to recent data from the NADA Used Car Guide, pre-owned trucks were in high demand through the first half of 2013. In fact, the average cost of used full-size trucks and SUVs is bucking seasonal trends and remains at a high level. Through the first sixth months of the year, there was a 7.7 percent increase in the average price of used trucks, compared to drops of 1 to 2 percent for almost every other category.
"June closed out the first half of the year with average auction prices of used vehicles up to 8 years in age nearly equal to last year's level," said Jonathan Banks, an executive analyst with the NADA Used Car Guide. "Given the stability observed in used-vehicle prices year-to-date, we expect to close out the year with prices essentially unchanged from the historically high average of $15,664 in 2012."
These higher prices mean it may be more difficult to try and find good value on used car lots. It could also mean that drivers looking for an off-roading vehicle or an automobile to make truck mods on may have to get a bit creative.
How to combat cost
While the cost of used trucks and SUVs may be high, that doesn't mean drivers are left out in the cold when it comes to improving their off-road vehicles. Making truck modifications is easy with the help of the right tools, and drivers can generally find affordable methods for installing a lift kit that could help get an existing vehicle ready for mudding.
If all else fails, drivers may just have to wait until this cycle of high used-car prices ends and there is a drop in average costs. However, there's no telling how long that might take.
"Seasonal effects aside, consumers should expect trade-in prices to remain high through at least the end of the year, especially for full-size pickups and SUVs because of lower supply and increased demand from a recovery in construction," Banks said.