Recent Resale Value

[USSCajun]

My less than 6 month old Bronco went from purchase price of $52,000 to an offer from multiple dealers of $38,000. That is a steep depreciation, I thought these things held value? I know Ford is making more, but so is Jeep making Wranglers and they hold very good value.

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[voxel]

My less than 6 month old Bronco went from purchase price of $52,000 to an offer from multiple dealers of $38,000. That is a steep depreciation, I thought these things held value? I know Ford is making more, but so is Jeep making Wranglers and they hold very good value.

Yeah no.

Maybe pre-2021 models but Jeep jacked prices up and had to discount them to move them and then finally cut MSRP prices.

https://fortune.com/2024/02/24/jeep-cuts-prices-expands-lineup-stellantis-automotive/

Any new vehicle bought in the past 2 years will probably suffer larger than normal depreciation due to how inflated MSRPs were. See how Wrangler prices have declined recently.

https://www.cargurus.com/research/price-trends/Jeep-Wrangler-d494

 

[TXBronco1313]

Higher MSRP prices play a major role in cars depreciating faster. Also generally speaking, any car will lose a lot of its value in year 1 then regulate over the period of ownership. If it makes you feel any better, just think how depreciated those who paid 10-15k over sticker just about a year ago must be.

 

[Midnight_Blue]

$52,000

Despite what the sticker price says, it’s still just a mid tier mass produced Ford.

 

[Tdub0527]

Curious why you’re checking the value of your Bronco. Are you wanting to sell? Wanting to trade it in? Where did you get the 38k number? Did you shop it around or just do instant quotes on KBB, Carvana, etc? What once was gang busters is now gone.

If you aren’t selling your 6 month old vehicle why do you care? Things changed from a sellers market to a buyers market and you are seeing/experiencing the aftermath.

For reference I recently (Feb 24) traded in my ‘22 BB w/18k miles for a ‘21 BL w/7k miles. I got a great deal on the BL and traded my BB for 35k sticker was 44 and I paid 4k ADM (48k). I acknowledge I took 4k in the shorts but worth every penny to have a Bronco. Less than 10k depreciation over 2 years doesn’t seem all bad to me.

 

[MNBigfoot]

Ford discontinues the Base now making the closest thing to my MY22 Build a $17K price increase..... No shock here that resale value on the 23-24 models will take a major hit. Now someone tell me the resale value on the MY21 $29K Base Base .

 

[Bob]

I ordered a base 2 door/ 7 spd in 2021. Got kicked to the 2022 production year and took delivery in March, 2022. Have 28,500 miles. No accidents. Paid 33,00 OTD, including 8.75% sales tax. Carvana just offered me 32,000. Last year they offered me 38,000.

 

[Rspayde]

I paid $45k for a 2022 black diamond - KBB is telling me $43k traded If that is a legit price (it's not) I would be in there like swimwear. Dealership recurring value email has me at $37K. Of course the dealer has me listed as a big bend in the system for some reason.

 

[STuff1]

Sounds about right. Btw I had a nightmare 2024 wrangler that was full of issues. Bad dealer as well, didn’t want to fix most of the issues. I ended up trading in a 3 month old 24 wrangler. Lost $10k in value. Paid $41, sticker was $44. Best I could get trade or sell was $34k. So jeeps are the same way, as is any car for the first year. My. 23 Ronco had a sticker of $66k (2 door WT w/lix). Just checked and Carvana offered me $52 k. Truck has 1500 milled, and this would be a $9k loss from what I paid, a tad better than the wrangler. Prices are way too high so depreciation will be bad. When at the dealer there was a guy who was trying to trade in his B raptor. He paid $120k for it (adm) and was getting offered $74 one year later. That had to hurt.

 

[DriveAllNight]

With almost all makes models of vehicles certain trim levels will usually maintain a higher percentage resale value.

I don't know what trim is the sweet spot for the Bronco, but packages and options also matter and Ford created so many combinations you would need a spreadsheet and a decent amount of data to figure it out.

I can tell you this, it's usually not the fully loaded vehicles that maintain the best value.

 

[USSCajun]

Curious why you’re checking the value of your Bronco. Are you wanting to sell? Wanting to trade it in? Where did you get the 38k number? Did you shop it around or just do instant quotes on KBB, Carvana, etc? What once was gang busters is now gone.

If you aren’t selling your 6 month old vehicle why do you care? Things changed from a sellers market to a buyers market and you are seeing/experiencing the aftermath.

For reference I recently (Feb 24) traded in my ‘22 BB w/18k miles for a ‘21 BL w/7k miles. I got a great deal on the BL and traded my BB for 35k sticker was 44 and I paid 4k ADM (48k). I acknowledge I took 4k in the shorts but worth every penny to have a Bronco. Less than 10k depreciation over 2 years doesn’t seem all bad to me.

I am always chasing a shiny new vehicle. KBB has the Bronco at $44,300 trade, but boots on the street will only offer $38,000. Appraised it out through multiple websites and spoke with 6 dealers. Issue I am having is that the Black Diamond that I have is equipped with front/rear lockers, auto HVAC, Advanced Goat, Trail Turn Assist and all the Black Diamonds listed for sale don’t have these features, so they value it at the lower equipment group.

 

[USSCajun]

Sounds about right. Btw I had a nightmare 2024 wrangler that was full of issues. Bad dealer as well, didn’t want to fix most of the issues. I ended up trading in a 3 month old 24 wrangler. Lost $10k in value. Paid $41, sticker was $44. Best I could get trade or sell was $34k. So jeeps are the same way, as is any car for the first year. My. 23 Ronco had a sticker of $66k (2 door WT w/lix). Just checked and Carvana offered me $52 k. Truck has 1500 milled, and this would be a $9k loss from what I paid, a tad better than the wrangler. Prices are way too high so depreciation will be bad. When at the dealer there was a guy who was trying to trade in his B raptor. He paid $120k for it (adm) and was getting offered $74 one year later. That had to hurt.

Ouch, if you paid ADM you better be set on driving it till the wheels fall off, or 50,000 end of life Ford miles. I got lazy, all my Toyota trucks kept value losing only $2-3,000 in first two years.

 

[STuff1]

Unpaid under sticker for my bronco. Sticker was $66 - I paid $61k. “Deals” are out there. With that
Said, even paying $5k less under sticker, resale still stinks as soon as driven off the lot. Even paying $5k under sticker I’m still $9k in the hole on sell or trade. I have no plans to do either.

 

[voxel]

Ouch, if you paid ADM you better be set on driving it till the wheels fall off, or 50,000 end of life Ford miles. I got lazy, all my Toyota trucks kept value losing only $2-3,000 in first two years.

That might have been true 3-5 years ago but I don't think so today. Auto brokers are discounting Tundras up to $8K and newly refreshed Tacomas can be hand for $1K under MSRP. All carmakers jacked up MSRP and folks who didn't buy new cars at significant discounts suffer from higher than normal depreciation (which doesn't matter if you never intend to sell nor get into an accident).

 

[bkfit]

Ford discontinues the Base now making the closest thing to my MY22 Build a $17K price increase..... No shock here that resale value on the 23-24 models will take a major hit. Now someone tell me the resale value on the MY21 $29K Base Base .

Unicorn Not for sale . LOL

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