How Much Should You Spend on a Full-Size Pickup Truck?
Car prices are particularly tough to navigate these days. Between the increased demand and decreased supply, many dealerships are adding thousands to MSRP, making it difficult to feel confident in paying these high prices. It is even worse when it comes to SUVs and full-size pickup trucks. How much should you pay for a full-size pickup truck?
What is a full-size pickup truck?
Kelly Blue Book says full-size pickup trucks are defined by their longer and larger frames, much larger interior space, and larger, more powerful engines. Although some full-size trucks have a V6, like the 2022 Toyota Tundra, most of the heavyweights boast giant V8s or sometimes V6 diesel engines making Earth-moving torque.
Other than spec differences, there is also a cultural difference between the two pickup truck segments. The full-size pickup trucks are built to do heavy work. Midsize pickup trucks can certainly still work but are intended to be far more friendly for everyday driving and some lighter work.
There is also the money aspect of the two segments. Full-size pickup trucks cost more than midsize trucks, as a rule. Because of this, many people drive F-250s and Rams of equal weight as daily drivers and seldom do work. Hell, the F-150 is the most popular vehicle in America, period. Driving a big pickup truck is as much a status symbol today as it is a tool.
What is the average price of a full-size pickup truck in 2022?
MotorBisucuit’s very own Sarah Brennan wrote that in 2020 the average price of a new pickup truck was $38,361. We saw truck prices go up last year, making the average cost of a new pickup truck in 2021 $41,105. That jump in price represents more than a 7 percent increase in one year.
Seeing as how we haven’t gone through all of 2022 yet, finding the average full-size pickup truck price isn’t possible. We are still waiting on pricing for many of the new models. However, we calculated the average cost of the eight most-popular pickup trucks from this Forbes list. Between just these eight trucks, the average price is $38,905. Once we add in all the heavy-duty pickups and the upcoming EVs, I feel confident that average prices will rise a bit.
What is the cheapest 2022 full-size pickup truck?
Despite the price of trucks going up faster than greased lightning, the 2022 Chevy Silverado, a classic nameplate of the big boys, starts at only $28,195. According to Car and Driver, the 2022 Chevy Silverado 1500 is the cheapest full-size pickup truck on the market. The truth is most of the full-size trucks start within only a few thousand dollars of the Silverado. The main factor for driving the average price up is not the base models; it’s all the performance editions.
The 2022 Ram 1500 is one of the finest pickup trucks on the market today. It starts at $36,195. This is by no means a “cheap” pickup truck, but it’s not too bad either until you look at the Ram TRX 1500, which starts at nearly $50k more than the base.
This example plays out with most models. The 2022 Ford F-150 starts at only $31,355, but if you get a truck with the PowerBoost hybrid engine in the Limited trim, you can easily spend $90k. It is here where pickup trucks are at their most intense.
Is now a bad time to buy a pickup truck?
Many customers see prices like this and choose to turn to older trucks that might need work. This has resulted in a massive price increase on used inventory as well. The truth is, it is not the best time to buy a truck or any vehicle for that matter. Of course, timing isn’t always on our side. So if you find yourself in need of a pickup truck, make sure you check all of your options before overspending. With careful research and patience, buying a pickup truck for a reasonable amount is still possible.