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Why are used trucks so expensive?

Why do used trucks still cost so much? I thought that used vehicles were supposed to be cheaper than new ones, but used trucks are still so expensive and I don’t get why.

avatar
Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You’re right that used
trucks
tend to be pricier than used cars. One reason that used trucks are so expensive is that, on average, trucks are more reliable over time. For that reason, a used truck will typically last longer than a used car might.
However, there’s another reason that used trucks are so expensive: low supply. Used trucks are often more difficult to find on the market than used cars because of their low depreciation rate. As such, sellers can hike up the prices without worrying about their competition.
If you decide to buy a used truck, you’ll also need insurance. You can offset some of the cost of your new vehicle by using the
Jerr​​y
app to find your new policy. The average user saves $887 per year on their insurance by finding their policy through Jerry.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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