It's Here! / But I left it on the lot! :(

[ChrisB351]

After the first page. I said oh boy another entertaining thread, then I threw some popcorn in the microwave and got a beer.

Wheres my beer?

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[ChrisB351]

The post started with OP stating that he worked in finance. I find that hard to believe if the decision was to walk away from a Bronco that had EASILY 25%+ equity baked-in already...all he had to do was sign and drive away. Selling ANY used car in this market is like taking candy from a baby and anyone with the slightest knowledge of finance or money should know all of this...

He said financial investments or something like that.. Big difference in auto financing

 

[MannyG20]

"IF" Ford would have had the Bronco made and delivered within a reasonable time frame I wouldn't be trading in anything. I waited for over 1.6 years for the Bronco.

We all did.

 

[thatspecialbeat]

Thank you, Bronco is nice, I liked it. They are cool to look at. But like you said there will be plenty on the road in 2 years and I wasn't in a bind. I will keep my nice little ride until then and my extra cash! Merry Christmas!

You should have had price protection from 2020. Broncos in 2024 are going to cost 2024 prices.

 

[Broncoblk23]

The days of walking into a dealer and getting a great deal for a trade left the building about 10 or so years ago. There’s really not even much room to negotiate anymore and you can look up your cars “value” but that’s just an estimate. Most dealers will only pay fair trade value even if your car is in showroom condition. Just the way things are now. I too bought a 2022 Jeep gladiator to ease the pain of waiting and I knew buying it that I’d take a hit when I traded it for the bronco, but just like everyone else I wanted the bronco and ordered it for a reason. The dealer gave me a low ball offer and I got them up another 2k and signed the paperwork. I damn sure wasn’t gonna let them sell the bronco for 15k over to someone else. I’d rather eat a couple thousand and know I have plenty of equity in the bronco in case something happens and I have to sell it. Trade loss gone!!

 

[PaulBrownSr]

I agree you should’ve just bought it and sold your trade in yourself. I’ve only bought two new cars in my life, but never seriously considered selling my old ride to the “stealership.” Always figured I could make more doing it on my own as the house always wins somehow. (From reading these forums it does seem like it works out well for some though which is cool).

Anyway this is still scummy dealership behavior so…
*cracks review leaving knuckles*
LET’S NAME SOME NAMES!!!

 

[Bugkillah]

Reminds me of the story of the baby and the bathwater…

Threw away an MSRP Bronco over a lousy trade in offer.

 

[Broncoblk23]

I actually don’t even think the dealership was scummy. I think they did what most dealers would do and offered the best they could and that was it. They’re gonna make their money somehow and if they sell the bronco at MSRP (knowing they can make more if you walk) then they will make money selling the trade. At the end of the day dealerships are businesses and their goal is to make money and they’re good at it. The ones they aren’t well go out of business. They only thing I disagree on the trade process is the dealers asking for your payoff before they give you an offer. I think that gives them the upper hand to come in lower in certain situations like having negative equity

 

[Mud Dawg]

I actually don’t even think the dealership was scummy. I think they did what most dealers would do and offered the best they could and that was it. They’re gonna make their money somehow...

This.

Like, how is it their fault that they are trying to make money in a capitalist system? They weren't even jerking you around on the Bronco price...

 

[rtazz17]

I completely get this. That's why I was wanting a fair trade. But I am ok with driving what I have. With the short notice, with Christmas and all the other life events, I didn't want the hassle of trying to sell it. Plus dealer wanting it done ASAP. Would have been a much different story if I would have been produced and delivered in a timely manner.

So if you are “ok” with everything why post this at all? Its senseless. Dealer was not at fault. You always sell a used car outright for the most money. Lol,really dont get this post at all

 

[kodiakisland]

Ford dealer offers to sell Bronco at agreed price and you walk away. Thanks Ford.
Where’s the head shaking, eye roll emoji?

 

[Mo’ Money Mo’ Broncos]

I would guess that the area car dealers got together and PRESSURED the state government to pass such a law?

I think this is how all US laws are passed now haha. Sam Bankman-Not Freed writing the upcoming crypto regulations/law is a great example. It’s still a shame to hear though. I live in Kansas, and while I didn’t look into state law regarding that here, the dealer IMMEDIATELY brought that up. It’s funny how well educated companies are on how to get our money, and how little financial education we’re given.

I ordered 2 years ago this month! I was driving a 2003 Camry and since Ford could not tell me WHEN my Bronco was going to arrive, I was forced to buy another car in June of this year. So I get a call yesterday to tell me my Bronco was in! YAY ME!

Well.... Not so fast! I get to the dealer check out the Bronco, take a test drive, and leave my current vehicle (2019 Acura, Low mileage, Tech package, and EXCELLENT SHAPE) for the dealer to appraise for trade-in. The sale-man and General manager tell me they had (3) people stop by as they were unloading the Bronco and said they would buy it right then..... So....after the test drive, I tell the salesman to let go talk numbers.

Little background info: I work in the Financial world of Investments, and I use to be a loan officer for several years, I don't need anyone to tell me what my "NOTE" will be! I can figure that! I am buying from a dealer right in the Middle of the Haynesville Shale, (one of the wealthiest locations in our state). LOTS OF MONEY in this little part of the county, Many people became Millionaires practically overnight! I know this because I work in investments in the area, I have 1st hand knowledge of the mailbox money that the area receives.

Story continued... We sit down in his office, he is having problems with his computer. After waiting 20-25 mins for the "Computer" to work. I outright ask "Can you just tell me what you are giving me for trade-in"? I can figure out all the rest. (I already know the price of the Bronco). Well, the salesman looked confused, He paused and said "I need to put it in the computer, so we can get the number right" I explained, "All I needed to know right now is what they are giving me on trade-in". After waiting a minute or two, the salesman asked another man (guessing Gen. manager?) what they were giving me for trade-in. It was $7,000. below Trade-in VALUE on the low side! I told both men, " They weren't even in the ballpark"! The general manager replied "That was the best they could do because, in their area, there just wasn't a market for a High-In cars. The gist was people in that area didn't make the money to pay that price. However, in a town 30 miles away I could easily get that for my car" Because it was a larger market.

Now....I am not one that places my wants over needs, after all, it is just a car (It was my dream car, but it was just a car. A car I waited (2) years for, but just a car! {I am trying to make myself feel better by repeating this}). The trade-in price was an outright slap in the face and I knew what they were doing. I knew I was locked in at the original price on the Bronco and they did hold up to that end of the deal. However, they knew if they screw me on the trade-in and lowballed it, then they would make a great profit off the sale of my trade-in. Or... I would give up the Bronco and they could now mark it up to "WHATEVER PRICE" they please and make their whopping profit there! Well.... I walked away without a Bronco! Thanks, FORD, I wasted 2 years of my life and you screwed me once again! MERRY CHIRSTMAS TO ME! AND to "ALL" of you!

I was kind of in a similar situation. I contacted them to start the discussion a week early. I also came prepared with some quotes from other companies, and an offer from a buddy that I would’ve taken had I needed to. Got em up from $8k to $10,750, even with them finding a wreck on the carfax during the course of negotiations. Unfortunately, with demand so high, willingness to walk out the door doesn’t matter as much anymore though (it might again soon). I do think this could have been avoided with a bit more preparation, but with the car market starting to capitulate, I really don’t blame you. It may sound easy to flip one, but there is still risk, and it’s your name on both loans at a time when the car market is certainly going to be heading down.

The real question, are you still going to try and get one in the future??

 

[Lowcountry Bronco]

Wheres my beer?

 

[1975U15]

In that case, you should have done a private sale on the Acura. Because the best any dealer is going to give you is wholesale. You left way more on the table by not retailing the Acura yourself.

CarMax offered me $1800 on my old car. Ford dealer would have matched it, which would have been $1800 plus 7.8% (local sales tax rate) for $1940.40. Sold it on Facebook for $4900. Worth dealing with the hassle for $3k, yeah.

I don’t know if it’s a generational, geographical or what but so many folks refuse to even consider selling private. It’s not that hard. It’s almost as if folks don’t want to admit it’s an option.

Sold every vehicle I’ve owned privately with one exception. That was a Carvana thing and I couldn’t believe offer. Now they’re on verge of bankruptcy.

 

[RedDawg]

I rather invest my money and keep it. It is just a vehicle to me. I am not married to it like a lot of people are (not trying to insinuate you are). It is to each its own. Merry Christmas!

”It is just a vehicle to me.”
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