Tell someone they can’t have something, and they’ll want it more.
Stop making something, and people will demand it.
Put something in limited supply, and prices will rise. Or, in the used car market, prices will at least fall a little more slowly than usual.
That’s exactly what’s happening with used midsize pickup trucks. Since fewer are made new, there are fewer on the used market, and prices are nearly holding steady. Want a 2010 midsize truck? With prices just 3.7 percent less than the original price, you might be better off snagging a brand-new one! If you can find one, of course.
Off the top of my head, I can think of three midsize trucks that are sold new: the Toyota Tacoma, the Nissan Frontier and the Honda Ridgeline. The Ridgeline is on life support, changes are coming for the next Frontier, and the Tacoma remains a stalwart in the segment.
According to an e-mailed press release by the good people at Black Book, midsize trucks depreciated just 0.7 percent in June for model years 2007–2011. Over the last 12 months, trucks in that segment saw a 5.1 percent decline in price, compared with 13.7 percent for all used cars.
That’s about all the statistics I can handle, but the point is this: Used midsize trucks are expensive. If you’re in the market for one, the CarGurus used listings are invaluable in helping make sure you don’t get hosed on price. Even if prices are higher than expected, there are still good values to be found, and our listings will point them out for you.
With luck automakers will come to their senses and offer more new midsize trucks in the future. If General Motors follows through, we could see new versions of the Canyon and Colorado as early as next year.
What’s your favorite midsize truck? If it’s not available new, would you want the automaker to bring it back?