Anyone who has shopped for an older pickup lately knows the feeling. A Silverado you could have bought for pocket change a few years ago now carries a price that looks like a typo. Some shoppers shrug. Others, however, send angry messages.
The used car dealer behind @thehooptielot, known to his fans as Hoovie, got plenty of those messages. He listed a green 2003 Chevy Silverado Z71 on Facebook Marketplace for $17,995. Then he walked through exactly what he paid and spent, so viewers could see where the number came from.
A One-Owner Silverado With Low Miles
He says the truck came in as a one-owner trade out of Colorado with 76,000 miles. It is a four-wheel-drive Z71 in LS trim with the Bose stereo. According to him, he paid a little under $10,000 for it, which he called a steal.
However, the high-altitude sun had faded the hood and roof. So he sent the truck out for paint, paint correction and a full detail inside and out. That work alone came to $3,425. Even so, his colleague Daniel pointed out a few small marks on panels that did not get new paint.
The rest of the bill covered four tires, a window switch, a replacement radio and transport. It also covered removing an old aftermarket radio module and remote-start module that kept draining the battery. In the end, he puts the grand total in repairs at $5,375. That left him at about $15,000 in the truck.
Why He Set The Price
To back up his price, he pointed to two recent online auction results for trucks of the same generation. One, with fewer miles, sold for $26,500. Another, with 85,000 miles, sold for $18,000.
At $17,995, he says he hoped to make around $3,000. That is more than the lot’s usual margin of about $1,500, because this was a higher-priced truck that could take longer to sell.
The listing drew about 6,000 clicks, which he says is the most he has ever seen. At the same time, it drew low offers and messages he describes as unbelievably angry. He even says he refused cash in person.
“I’ve turned down 15,000 cash in person already”
“I’m the biggest villain on Earth for buying something for 10 and asking 18”
His theory is that many shoppers remember these trucks selling for around $10,000 before COVID. As a result, they still expect that price. He and Daniel also think older trucks stay in demand because they are simpler and cheaper to fix than many new ones.
The Cheap Truck Beside It
For contrast, he parked a 2002 Avalanche next to the Silverado. That one had 190,000 miles and two-wheel drive. It cost $2,500 before auction fees and needed $1,160 in repairs, including a used ABS module, a window regulator, tires and steering parts.
He expects to sell the Avalanche for about $7,000. Because of that, he admits the cheap truck may make more money than the nicer one.
What To Know Before Pricing Or Buying An Older Truck
- Look at recent completed sales for the same generation and trim, not old memories.
- Ask the seller what they fixed and what it cost.
- Mileage, one-owner history and four-wheel drive can change the value by thousands.
- Fresh paint is common on high-altitude trucks. Ask which panels got new paint.
- If a price feels high, make a fair offer instead of sending an angry message.
Where Things Stand
Later in the video, Hoovie says the green Silverado has already found a buyer.
“we sold the green truck already, got $17,500 for it.”
That price was $495 under his asking price. In his words, he was right about the value after all.
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