Do Ram 1500 trucks hold their value?
Today’s used truck market is wacky. Not too long ago, the rule of thumb was that the second you drove a new vehicle a lot, it lost about a third of its value. Not anymore, as supply chain issues and more have complicated the used truck market. Some trucks even sell more used than they do at new dealerships and hold their value well.
One of our favorites, the Ram 1500, seems to hold its value well. It only loses 4% of its value in the first year of ownership.
What kind of truck is the Ram 1500?
The Ram 1500 was named Motor Trend’s Truck of the Year when it debuted in 2019. The update was a step up from the previous generation of trucks that looked good but made better. The trucks come with a standard V6. You can upgrade to a V8 as well as a mild-hybrid Hemi V8. They are known for their high quality interiors and excellent ride, thanks to a sophisticated suspension design.
The Ram 1500 only loses 4.07% of its value in the first year, but a 2020 is worth 25.8% less today than it was new, or about $14,000, and loses $31% after five years . For comparison, a one-year-old full-size Chevy Silverado is worth 8.8% less. A 2020 is worth 11.6% less today, and 18% after three years, all according to CarEdge.com
Is the damping bad?
Damping is a double-edged sword, and it depends on which side of that sword you’re on. The Ram 1500 truck has a good reliability score, a comfortable interior and that powerful V8, so if you’re looking for a used one, it’s a great option. The 2023 Ram 1500 is essentially the same truck as a 2019 and you have to be a Ram fan to know the subtle differences. If you’re looking to buy one and trade in three years from now, maybe the Chevy Silverado is the way to go.
How much does a Ram 1500 cost?
Since we know the Ram 1500 loses value, how much does a new one cost? If you walk into a dealership today to buy one at MSRP, you’ll pay $36,500 for a base work truck with a V6. But given the choice, we’d choose the $51,385 Rebel version that’s equipped for off-road service, or the slightly upgraded $41,815 Big Horn, which seats up to six and is well-equipped. The Limited version starts at $62,685 and includes all the luxury features you’d expect, including a massive vertical center screen.
The Ram TRX definitely holds its value
A new Ram TRX is a special truck with a 702-horsepower Hellcat engine and heavy-duty suspension designed to get off the road with ease and speed. New, the TRX starts at $78,790, though special versions like the Sandblast can top $100,000. The TRX also retains its value.
On auction site Cars and Bids, a well-equipped red 2021 Ram 1500 TRX recently sold for $90,500. At Bring a Trailer, another auction site, a 2021 TRX recently sold for $99,500. It’s a rare truck, so it makes sense that it holds its value well.
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