Know What Your Truck Is Worth

Are you selling your truck in 2021? Read a guide on how COVID-19 caused truck market value fluctuations & how to know what your truck is worth today.

If you are planning to sell your truck in 2021 it is advisable to put extra time into researching its current market value. The 2020-2021 COVID-19 pandemic took the automobile industry for a wild ride the likes of which are still continuing at the time of this writing. Market value fluctuations include prices on used trucks so it is crucial to know what your truck is worth before selling it. 

What websites & resources are available to ascertain the value of my truck? What condition should my truck be in to get the most money on a trade-in? Getting the best trade-in or sale price for your truck requires preparation, timing and negotiation skills. It is much more possible to accomplish this once you have a complete understanding of your truck’s re-sale and trade-in values as dictated by the current market. In what ways has the COVID-19 pandemic impacted the used truck market in 2021? Read ahead for an informative guide on automobile market fluctuations and how to know what your truck is worth today.

Why Sell Your Truck This Year?

When the COVID-19 pandemic struck the U.S. in 2020 it created widespread financial panic for many businesses, including many of those in the automobile industry. An unexpected used-truck sellers market was created in the midst of all the market fluctuations, however. Why sell your truck this year? Prices might have been on the rise for used trucks in Q4 of 2020 but the market it stabilizing into mid-2021. The market value of used trucks is expected to drop then plateau as 2021 continues. To get the most out of your used truck sale or trade-in it is advisable to sell sooner than later.

Top Resources & Websites to Get Truck Values 2021

Are you looking for the top resources & websites to help assess the value of your truck this year? It is common to start with the most popular and trusted resource industry-wide – the Kelley Blue Book (KBB). The KBB has been in printed publication since 1926 and its website currently offers a modern & convenient 5-year cost-to-own calculator, which helps you determine the depreciation/value of your truck up-to five years after purchasing it.

National Appraisal Guides (NADAguides) as sponsored by J.D. Power is another popular & reliable truck value resource for you today. The NADAguides website offers buying/selling resources, new/used car searches, an AutoCheck Vehicle History Report and more. Additional resources & websites available to help assess the value of and sell your truck in 2021 include:

Top 8 Most Popular Used Trucks to Buy Right Now

The Dodge Ram 1500 is the #1 most popular used truck to buy in 2021. Multiple powertrain options/trims and three different body styles help the Ram 1500 fit the needs of truck drivers around the country at affordable used-truck prices. The Toyota Tundra is the #2 most popular used truck in 2021. Used Tundra’s offer full-sized features at lower prices. In fact, the Tundra is so popular and reliable it has not been revamped since 2007 and it still won eight highest Consumer Reports awards out of the most recent nine years. 6 more popular used trucks to buy right now include:

  1. Honda Ridgeline

  2. Ford F-350

  3. Ford F-250

  4. Nissan Frontier

  5. Chevy Avalanche

  6. GMC Canyon

Current Truck Trade-In Values

Assessing the trade-in value of your used truck is simple and convenient to do using any of the modern resources & websites available today. Understanding market value trends requires slightly more research, however. Averages used truck prices increased by approximately fourteen percent, outpacing normal inflation by 1,000 percent. This does not mean you will get the best trade-in prices without putting in a little work, however. New car sales did not fare as well and many new-car auto dealers are doing what they can to make up for lost profits caused by the COVID-19-related recession.

Custom Appraisals

One way to acquire the true market value of your used truck is to get a custom appraisal through an independent appraisal company. A custom appraisal might cost you $100-$500 on average. The benefits of getting a custom appraisal include knowledge of your truck’s true value, negotiating power and (ideally) a higher trade-in price. The Bureau of Certified Auto Appraisers (BOCAA) helps you locate customer appraisal companies near you online or by calling 1-877-424-8560 today.

Get Best Value – What Shape Should My Truck Be In?

To get the best trade-in value for your truck it needs to be in like-new shape or similar. Completely clean and detail your truck prior to listing it online or showing it to a dealer. Post numerous photographs from various angles, including exterior and interior pictures. Repair as many issues as you can afford when applicable. Also make certain to have all necessary paperwork up-to-date and available at trade-in time to take advantage of any great deals offered to you before they expire.

Trade-In Offers – How Long Do They Last?

Trade-in offers do not last forever so you have to take advantage of the best offers fast. This is partially why it is crucial to understand the value of your truck prior to commencing any trade-in negotiations. Some companies/dealers honor trade-in offers for seven days. Other online car-buying services moving high volumes of inventory might offer trade-in prices with 24-hour expirations on them. Before you begin negotiating ask how long any trade-in offers will last. 

Safety Still Matters in 2021

Safety still matters in 2021 and it is important to follow social distancing and COVID-19 related safety protocols when selling your used truck privately. Sanitize and clean your truck prior to showing it. Make easy-to-follow statements about your safety expectations as the seller and allow all prospective buyers to feel comfortable making similar requests of you.