Used Pickup Truck Prices May Drop Dramatically as Recession Hits

Are you in the market for a new or used pickup truck? If so, I am of the opinion that now may be the perfect time to hold off on your purchase. According to recent reports, prices for pickup trucks are starting to come down, especially for used trucks. The reason for this trend is that as the economy enters a recession and interest rates rise, prices for used vehicles will also decrease. In fact, Tesla prices have been coming down too and it looks like the Model 3 price may come down even more.

Regarding the pick up trucks, one expert in the field predicts that the prices for pickup trucks will come down dramatically in the near future. Automotive Youtuber Scotty Kilmer, for example, suggests in a recent video that as the recession hits, the prices for used trucks will drop faster than the prices for new trucks. This is because it costs a lot of money to build new trucks, and manufacturers will have to charge more to make up for those costs.

So, if you're in the market for a new or used pickup truck, it may be best to wait a bit longer. Toyota Tacoma and Ford F-150 trucks, for example, are great options, but the prices for brand new models may still be outrageously priced. Experts recommend looking into used trucks, as they are likely to drop in price faster than new ones.

When it comes to what kind of truck to buy, experts recommend the Toyota Tacomas if you're looking for a smaller size, and the Tundras if you want a larger option. However, Kilmer warns against buying a new Tundra with a V6 engine, as they are not as favorable. In that case, they suggest considering a Ford F-150 V8, which is a reliable option.

In conclusion, Kilmer predicts that pickup truck prices will drop in the near future as the economy enters a recession. They recommend waiting to make a purchase and looking into used trucks, which are likely to drop in price faster than new ones. With a wide variety of options available, it's important to do your research and find the perfect truck for your needs.

Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.