Many people complain that pickup trucks are very expensive these days. Sometimes, you can only afford a car, but you are interested in the trucks because of their fantastic features.
Why Are Trucks More Expensive Than Cars? Trucks are more expensive than cars due to their large size and costly parts. More aluminum material is used on their frames and internal components, which adds to the overall cost. Moreover, they have better-towing capacity, powerful brakes, and engines and require more fuel to operate smoothly. In addition, it is a more durable or luxurious, highly in-demand vehicle than cars, which makes it expensive.
It is a common idea that more oversized items have high prices, and the same concept applies to the automobile industry, where more oversized vehicles like trucks are expensive.
Why are pickup trucks more expensive than cars?
Many factors are responsible for the higher cost of trucks compared to cars, including their size, weight, engine power, features, etc.
Size of vehicle
The size of the vehicle increases its price like a Ford F150 is more expensive than the Toyota Corolla due to its bigger structure.
Almost 20 to 70% of the vehicle’s body frame and other internal crucial components are made of high-grade aluminum alloy.
The quantity of material used for manufacturing a pickup truck is more than that of a car as it has a smaller frame.
Furthermore, the size of parts like tires, steering, engine, and other components also increases, which adds to the overall cost and makes it expensive.
Therefore, a Ford F150 is available at almost $30,000 to $45,000, while the Toyota Corolla can cost you around $18,000 to $25,000.
The engines have to tolerate a lot of stress when you want to haul heavy objects or drive through different terrains, so they have to be more powerful.
The engine size determines the power and efficiency of the pickup ultimately. Bigger engines require more labor for the manufacturing process and need more space on the vehicle.
In addition, the number of cylinders and their capacity to hold and burn fuel determines the strength and price accordingly.
A two or four-cylinder engine is usually present in the pickups. The Ford trucks have Powerstroke Diesel V8 engines.
Similarly, the demand for fuel for efficient working also increases when you move from smaller to bigger transportation mediums, which can increase the cost of vehicles.
So, pickup trucks are more expensive than smaller vehicles, but they can run on rough and smooth terrains without any slow performance due to strong engines.
Different types of brakes are present on vehicles according to their requirement, as some are efficient for light-duty cars with short braking distances.
However, heavy-duty vehicles need an extensive braking distance system and powerful brakes to respond efficiently.
The mechanical disc or drum brakes are usually present in cars that cost you around $99 to $199, but the pickups have electric or hydraulic setups of almost $299 to $399.
So, they need electric or hydraulic brakes instead of a standard disc or drum brakes that are cost-effective but not good for handling the bigger structures.
The manufacturers use high-quality materials for producing the components of the pickup trucks as they have to be more durable to tolerate the stressful conditions of the road.
The price of material increases directly with the quality, and you have to pay for something better and unique that remains sturdy for longer.
The frames of trucks are heavier in weight that can resist physical damage when they hit another vehicle or building, while a car would get multiple dents and scratches.
Their tough design allows it to remain functional and intact for almost 15 to 20 years and run for nearly 100,000 to 200,000 miles.
However, a car can only remain sturdy for almost 10 to 12 years and run for a few thousand miles.
Better towing capacity
The rigid structure, powerful engines, and bigger frame size of trucks allow them to tow heavy loads more efficiently than smaller vehicles.
The attachment of heavy loads on the trunk side can break them on the way as they are not designed for this purpose.
Accordingly, cars are only suitable for pick and drop, go office, shopping malls, or grocery stores.
The Ford trucks are known for their excellent towing capacity, which is almost 15,000 to 25,000 pounds. The Ford F250 can efficiently hold nearly 22,000 to 25,000 pounds weight.
In the automotive industry, pickup trucks are considered workhorses as they allow you to carry multiple types of material without affecting their performance.
So, their multi-functionality and versatility make them more expensive than other automobiles that are unsuitable for hauling loads.
The cars are more economical from the fuel perspective as they burn less gas than trucks. In addition, they have smaller structures and fewer features and functions to perform, so they need less fuel.
However, the larger trucks are not considered fuel-efficient as they need more fuel to run the engine and other systems to move.
An average car has a fuel economy of almost 28.2 to 39.4 mpg, while the lighter pickups have only 21.6 to 24.3 mpg, which even decreases for larger vehicles.
So, cars are more fuel efficient; that’s why they are cheaper than trucks. However, you have to fill the tank frequently to meet the engine’s needs.
The automotive industry targets the customer requirements and builds vehicles that solve their problems and decide its cost accordingly.
The US customers are interested in pickup trucks that are good for practical aspects like off-roading, hauling, etc.
So, the manufacturers have taken a step to introduce all the features according to the demands that ultimately increased the price.
Moreover, every brand’s marketing strategy is to increase the profit margin in the products that are higher in demand and customers are willing to pay for it.
Therefore, the automotive industries apply the same rule and charge more for pickup because many people are interested in buying them due to their extraordinary features.
The internal body of a truck is much better than a car as it offers more luxuries and practical features, including safety and infotainment features.
They are not only safe and comfortable to sit in but allow you to navigate easily.
It contains 4 to 5 or even modern ones with up to 6 leather seats that are adjustable and will enable you to enjoy the ride with a family.
Furthermore, they provide more leg or head space than a car, and their suspension system offers more comfortable rides. It can absorb all the jerks and bumps on uneven roads.
The Toyota Tundra, GMC Sierra, and Chevrolet Silverado are prominent pickups known for their luxurious features and high-quality buildup, increasing prices.
Long loans and depreciation rate
The cars are less reliable than trucks and have faster depreciation rates as their rate reduces to half after 1 or 2 years.
However, the bigger vehicles are sturdier and have slower depreciation. Therefore, it is better to invest in pickup if you are purchasing it with a mindset of re-selling it in the future.
They lose almost 10 to 20% of their value in the first year and take nearly 5 to 6 years to reach 50% depreciation. Finally, the cars lose almost 60% to 65% of their original value after a few years.
In addition, the pickups are expensive because you have to pay more months which increases the overall price, including the interest rate.
Furthermore, you have to pay for almost 72 to 84 months, but cars have a shorter loan for only 24 to 60 months.
Do trucks have more expensive insurance than cars?
Trucks have more insurance costs than cars due to higher prices and costly replacements.
The insurance companies have to pay more for a damaged part in the bigger vehicles if they get involved in some accidents; that’s why they keep the insurance cost higher.
In addition, they can cause more property damage due to heavy weight or pose a severe risk of injury when it hits another person or vehicle.
Off-roading seems fun to you, but it can cause damage to the tires or pickup’s body that increases the repair cost, and the insurance company has to pay for that.
So, pickups are more likely to be damaged or scraped that are difficult to maneuver, so insurance companies keep the cost higher for them.
Are used pickup trucks more expensive than used cars?
The trucks are more expensive than cars, and it does not matter whether they are brand new or used ones.
Slow depreciation and increased reliability keep their rates higher even after being used for some years.
The used cars have lesser durability and are prone to get damaged quickly. Moreover, they have no warranty and reliability, so their price decreases quickly over time.
Furthermore, the low supply of the pickup can also be one of the reasons for the higher price of even the used ones because they are still in demand by users.
Modern pickups are luxury vehicles that provide more space on internal and external sides and offer unique features; that’s why it is difficult to find even a cheaper truck now.