How to Determine Used Truck Values and Used SUV Values

February 21, 2012

Learn how to determine used truck values and suv values by visiting local dealers, using the best online resource, and assessing condition and mileage.

Take The Money And Run

Determining used truck values requires knowledge of what a similar vehicle is selling for in the local market. Used truck prices vary by region and factors such as mileage, condition and even gasoline prices can affect value considerably. The used truck market takes a hit when the price of gasoline rises but can rebound when gas prices are lower. Model popularity is another big factor when it comes to determining price. A vehicle in high demand can sometimes sell for slightly more than retail value. Kelley Blue Book is one of several great online sources for determining used truck values.

Determine Mileage and Overall Condition
One of the biggest factors in determining truck value is the condition of the vehicle. Carefully look the truck over, inside and out, for any damage or excessive wear and tear. A truck that needs body work or mechanical repairs is not going to be worth the same amount as a truck that is in pristine condition. Scratches, dings, or rust will significantly diminish overall value. A truck with lower-than-average miles, or one that is still covered by the manufacturer's warranty, will retain more value.

Research Used Truck Values Online
There are many used car websites which can assist in figuring out what a comparable used truck is worth. Most of these websites are searchable by year, make, model and trim, making it easy to locate similar trucks for sale. Base models will not be worth as much as a fully loaded model and popular options such as all-wheel drive or four-wheel anti-lock brakes can add additional value. A model's reliability rating is another factor that is considered when determining value. Paint color can also affect the overall value. Some trendy colors are worth far less at resale.

Visit Local Dealers
Local dealers sell their used trucks at a slight premium. However, visiting a few local dealers and getting an idea of the prices and condition of their used truck inventory will help in determining a used truck's value. Trade-in value is the amount a dealer is willing to apply toward the purchase price of a new vehicle and is usually far less than retail price. Private seller amount is an approximate price an owner can expect to sell their vehicle. The private seller amount will be more than trade in but less than retail. Some dealerships will appraise used vehicles, which can be helpful in determining value. However, this amount is generally slightly less than retail.

As with all used cars, the used truck market fluctuates according to consumer demand. Larger trucks are especially affected by gasoline prices. A truck with a smaller engine or a more fuel efficient engine, such as a hybrid, will retain more value. Trucks with all the popular options will be worth more as are trucks that need very little reconditioning. Using online pricing guides and researching what similar vehicles sell for is one of the fastest and easiest ways to determine a used truck's value.

Used Truck Values vs. Used SUV Values
Making the decision to buy either a used pickup truck or used SUV should depend partially on how you plan to use the vehicle and what your overall needs are. Here are some of the benefits of used trucks over used SUVs, and vice versa.

Used Truck Benefits

Used trucks are generally able to haul a good deal more than used SUVs. These vehicles come with beds and other surfaces designed to transport materials. Trucks are often used to haul materials like soil, wood, manure, sand and other landscaping items that may not fit well or be appropriate for hauling in the cargo bay of an SUV. The bed of a pickup truck generally provides a larger space for transporting materials than the rear cargo section of an SUV.

The other primary benefit of a used truck over a used SUV is that trucks tend to be slightly smaller and lighter. The result is not only that they're easier to handle and can accelerate well, but also that they get better gas mileage. This means that you'll be able to drive your used truck further on the same tank of gas than you would a used SUV.

The Main Benefit of Used SUVs

SUVs are designed with the interior space and comfort of the passengers in mind. While most trucks, even large and full-size pickup trucks, tend to have a smaller cabin that will only accommodate a few people, many SUVs have larger and spacious interiors. These interior cabins can often seat up to three rows of passengers with plenty of room for luggage and cargo. If you have a family or if you routinely transport a lot of people or other objects inside of your vehicle, you'll have better luck in doing so with a used SUV than with a used truck.

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