Pickup Truck Prices are Dropping Due to Unsold Inventory
According to Bloomberg, [1], there is a growing disparity between pickup trucks available for purchase versus the demand for them. Because of this, there has probably never been a better time to consider purchasing a pickup truck than today. Don’t be worried; while some deals may appear too good to be true, this article should help provide a potential owner with everything they need to navigate this once-in-a-lifetime opportunity!
Explaining The Why
As the price of gas went up and conversations about climate change raged on, the demand for big cars that guzzled gas dropped drastically. Sedans and electric vehicles came into style, which left a lot of unsold pickup trucks. Despite this, many factories kept producing pickup trucks as if nothing had changed. While demand for pickup trucks has startedto pick up again, it’s still not enough to meet production.
This creates a unique opportunity: dealers stuck with old inventory will start to compete to see who can incentive buyers the most, providing attractive opportunities for buyers.
Payments Are More Affordable Than Ever
Owning one of these vehicles has never been more affordable, so today is maybe the right time to get that dream car. While one can look to the over-abundance of pickup trucks available at dealerships, they shouldn’t forget about second hand markets either. Relatively new models can be found with low mileage and favorable leasing, according to the Chicago Tribune [2]. Forbes also suggests that market trends are leading to more affordable models as well. [3]
Pickup truck dealerships and manufacturers are currently in direct competition to provide the lowest monthly payments possible in order to offload stock. According to U.S. News [4], there are 0% financing options available over 36 months, as well as 4000$ cash bonuses on select models. Doing some quick math, this equates to only 379$/month! For example, popular models such as the Ford F-150 can be had for as little as 249$ per month, or the Toyota Tacoma and Nissan Titan for as little as 400$ per month.
Making the Right Decision
The first course of action should be a thorough online search. As more sellers post their amazing prices online, this is a great place to get started. In some cases, there may even be online-exclusive options to consider. Don’t be afraid to compare and contrast in order to find the right scenario.
It’s likely that this climate won’t last, so don’t hesitate before choosing the right pickup truck!
Sources
[1]https://www.bloomberg.com/news/articles/2017-02-17/suv-discounts-signal-flagging-demand-eroding-u-s-auto-profits
[2]https://www.chicagotribune.com/classified/automotive/sc-off-lease-used-cars-autocover-0309-story.html
[3]https://www.forbes.com/sites/jimgorzelany/2017/11/02/sedans-sinking-fast-as-luxury-brand-flagships/#64462856214c
[4]https://cars.usnews.com/cars-trucks/best-truck-deals