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Why are Pickup Trucks so Expensive?

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For anyone exploring the market to buy a truck, one of the most inevitable questions is, why are pickup trucks so expensive? This is something every truck enthusiast ends up wondering while thinking of buying a beautiful, 4 by 4 metal beast! And without a doubt, pickup trucks sure are very expensive. Especially after the COVID pandemic which caused most industries, including the automobile industry, to completely halt production for a long period of time, the prices of pickup trucks skyrocketed.

Let’s discuss in detail why are pickup trucks so expensive. Furthermore, is there any hope for truck prices to come down any time soon or will prices keep them out of range for must buyers?

5 Reasons Why Pickup Trucks Are So Expensive

#1. The Sheer

Size One of the primary reasons why pickup trucks are so expensive is that these vehicles are huge and require more material to be built than your average sedan. As raw material prices continue to skyrocket, it is only inevitable that pickup trucks will have a long price tag.

#2. Versatility

Pickup trucks have extensive versatility as you can use them as your family car, workhorse, off-road adventure truck, or to attend business meetings in style. This versatility contributes to the high price of pickup trucks.

#3. Good Resale Value

Pickup trucks have amazing resale value, and depreciate at far less of a level when compared to other vehicles.

#4. Current Supply and Demand Situation

Due to the halt in production that followed the pandemic, there is currently a high demand for pickup trucks in the market which is majorly contributing to their high prices. This demand can only settle after an influx of pickup trucks.

#5. High Horsepower Requirements

These metal beasts are heavy and require high-horsepower engines. These engines are expensive and as a result affect the price of pickup trucks.

The Bottom Line – Will Pickup Truck Prices Ever Come Down?

Currently, most pickup trucks start at around $60,000 and can be priced as high as $120,000 for those with modifications and full trim packages. According to most experts, we cannot expect the prices of pickup trucks to reach the post-pandemic level until the effects of the pandemic wear off.

Furthermore, prices will only reach an affordable level once production speeds up and market demands are adequately met. However, there are still a few advantages to the high price of pickup trucks. For example, as these trucks are high-valued, their owners can easily take out a truck title loan on another commercial truck to pay the down payment on a new one. Yes, that’s a bit counterintuitive, to borrow money for another loan. But some trucks can appreciate over the first year of ownership and that’s a scenario when you would want to consider cashing out equity to get a new truck!