8.1 Van
Millstone NJ
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Joined: 03/20/2008
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Quote:The drop in values is good news if you're in the market for a new or used pickup or SUV. Otherwise, falling used-vehicle prices can be bad news in several ways.
For instance, automakers said low trade-in values are inhibiting shoppers who want to swap their gas-guzzling truck for something more fuel-efficient. They're suffering from sticker shock when they learn how little their trade-in is worth. Many shoppers turn on their heels, keep their trucks, and don't buy anything.
Owners of large pickups are more likely to be "upside down" than any other product segment, according to the Power Information Network. That is, about 40 percent of full-size pickup owners who bought a new vehicle in May and June owed more on their trade-in than it was worth, vs. an industry average of 29.2 percent, according to PIN data from dealership finance departments.
MSNBC
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coolbreeze01
Redding, Ca
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Not really news is it? I would advise folks to hang on to what you have. Chasing economy is a no win, if you owe money on what you have and have to finance what you want to buy. You will never catch up. Ride it out.
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fla-gypsy
North Florida
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The drop in trade value is the reason that many of us are upside down. In a normal market i would be on the plus side. In this very reactive market people are cutting their own throat. Trading off a large vehicle that you owe money on to get an over priced fuel efficient vehicle will save you nothing and drives down the values on all big vehicle trades. I think I will keep my gas guzzling big truck and continue to save.
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wilber1
Abbotsford B.C. Canada
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A few weeks ago there was a Ford dealer in the Okanagan advertising all kinds of incentives on HD pickups. If you already have a truck, no problem, they will give you another 4K off if you keep it. A sign of the times.
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bob444psk
seattle
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i would never trade mine in for any of the new trucks out there, look under the hoods of any new truck, there is so much polution stuff under there you almost need to take them to dealer to do any maintiance, i have my 7.3 powerstroke fine tuned just perfect with the mods. i have done, 22mpgs light, 15 to 16 towing at 55 to 60 mph. cant be happier, no one getting my truck.
2002 f350 crew cab short box, leer canopy, tinted windows, 3 inch level kit, 315 toyo mt tires, 8 inch nitto rims, superchips 1805 flashpaq tuner, afe stage11 intake system, 4 inch turbo back exhaust, auto meter guages, pulls our 2004 komfort 27ts tt.
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Gdetrailer
PA
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fla-gypsy writes "The drop in trade value is the reason that many of us are upside down"
Not really, the day you sign and drive the vehicle off the lot you are officially upside down.
Whats a person to do?
Simple, don't buy any more expensive than you need (IE, don't buy the leather heated seats and the top stereo system and so on).
Put as much as you can afford in the down payment.
Make extra payments to the PRINCIPLE! This will make a large difference really fast. All of my vehicles have been payed off in three years or less, my house was payed for in 10 yrs. Yes, I gave up many toys to get were I am but now I am in a much better position to be able to buy even more if I wished to do so.
Basically many people simply pay more than they should, buy more expensive items than they should hence the reason for so many folks loosing homes, vehicles and so on.
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Terryallan
NC
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But really. Does it matter that our trucks aren't worth as much in trade for a economy car. After all. You can't tow your camper with a Small car. so unless you are going to stop camping. You need your big ol truck. Make DW get a little car.
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rsh_757
Auburn, WA
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Good 'ol PSD, loves the doom and gloom type post. 
I havent been upside down in a vehicle since I started paying cash for them in 1996. But really, is this actually news? The market, while smaller now, for the full size truck is still there and it isn't going away anytime soon.
no one should be trading anything to get something smaller. They should just buy the smaller car and keep the beast. My main mode of transport is a Honda Accord while my truck sits ready to do it's job when needed.
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Rollincool
Always Rollin
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rsh_757 wrote: My main mode of transport is a Honda Accord while my truck sits ready to do it's job when needed.
Now I know why they call MOPAR's... Mostly Old Parts And Rust!!!   
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nevadanick
Elko, Nevada
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I was going to trade one of my work trucks to a bigger one but what was offered on my 05 1/2 ton was rediculous. I refuse to take that kind of hit on it.
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