Resale value of the vehicle you will trade-in for the Bronco: Will the market for used cars still be hot?

[Monster1926]

I want that tax credit! But I’m going Granger and now that I’m buying 2 cars, I don’t want to have to drive both our cars there and back! I’ll have to ask them specifically if they can do out of state.

Granger might want it honestly. Dealers lots are bare might match what ever you get offered. They seem fair but they are a dealership.

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[Kevin W]

With the shortage of vehicles on lots this past spring I was able to turn my leased Tundra in 8 months early, no penalty, no further lease payment required. Put the lease payment money in the bank each month since to pad the down payment for the Bronco. I've been using the Forester my son uses for high school as my daily while my wife and I do the pick up and drop off routine for him when needed. I am looking forward to my build day (Aug 13th) and hope the Bronco can be at the dealership sometime in Sept.

 

[moisea]

If you want to get a really true value of your vehicle that a dealership will give you, try the NADA website.

https://www.nada.com/

I looked it up and the prices look great. Right within or slightly above range of my estimate.

 

[lakesinai]

Ive been going on car max and vroom every few weeks to check my cars value. 2018 Nissan Altima sr. Carmax:
In March :$13,900. Mid-May: $16,600. End of May: $17,400 July(this week) $14,600.

Vroom:
May: $15,139. June: $14,822. July: $14,922. July(this week) $15,133.
I feel bad for the autonation/carmax guys who keeping calling me thinking I want one of their cars. I've had to reply to some of their emails telling them I just wanted to get a good idea of my cars value and I'm all in on the full sized Bronco. They all understand and end up leaving me alone. LOL.

Used car prices seem to be all over the place. Up and down. It's like I'm watching an AMC stock(lets go APES!). Anyhow, I'm curious to know what the actual price the dealership would offer me when I trade it in. I just got to hold on for 1 more month. A sales guy at my local Ford told me that he thinks that values are dropping 1% every day so he got rid of his F150 in preparation for the Bronco. Maybe it was bullshit... We'll see.

Well, the good news is it's still higher than March!

 

[lakesinai]

I forget specifically they were very aggressive. When I traded my Sierra half ton in. $5000 more than I paid for it 6 months earlier. Ended up trading it in for the tax credit.

That trade-in sales tax credit is great in some states i have lived in. Now In SC, auto sales tax is capped at $500; the County collects an annual vehicle tax instead each year thereafter.

 

[Monster1926]

That trade-in sales tax credit is great in some states i have lived in. Now In SC, auto sales tax is capped at $500; the County collects an annual vehicle tax instead each year thereafter.

In indiana I get screwed with 7% sales tax plus Excise tax when I renew my plates. Typically $500-$600 per vehicle depending on year and MSRP. I was considering getting a 5th wheel until I found out plates/excise were $2000 a year.

 

[mcdoogs]

I don’t see used car values declining much soon, there has been such a disruption of new car production which will keep on going for the next year most likely.

 

[Sherminiator]

I don’t see used car values declining much soon, there has been such a disruption of new car production which will keep on going for the next year most likely.

Exactly-expect higher prices on things for next year or so. Shortages and artificial increases in money supply (i.e. money from the government) is only making things worse.

Maybe by the end of the next year things will be back to pre-covid levels with some luck.

 

[mcdoogs]

Exactly-expect higher prices on things for next year or so. Shortages and artificial increases in money supply (i.e. money from the government) is only making things worse.

Maybe by the end of the next year things will be back to pre-covid levels with some luck.

Financing remains really inexpensive as well.

Simple supply and demand means you can't expect to hugely restrict 2021 and 2022 MY production across the board and not see ripple effects for years. On the positive side, anyone who can get a lease/purchase of desirable models at MSRP or lower is going to be in much better shape than expected. I for one am looking forward to generous lease buyout terms on our e-class

 

[Sherminiator]

Financing remains really inexpensive as well.

Simple supply and demand means you can't expect to hugely restrict 2021 and 2022 MY production across the board and not see ripple effects for years. On the positive side, anyone who can get a lease/purchase of desirable models at MSRP or lower is going to be in much better shape than expected. I for one am looking forward to generous lease buyout terms on our e-class

Also part of the reason why trucks keep gaining in price is people just roll over payments or get good trade ins on them to help afford them.

I took it in the shorts (vs a truck) with my last car, but it was a sedan that has just about no demand and limited production model. I had it paid off a few years back, so it wasn't that big of a deal since I keep my cars around 8 years or so trade in isn't a huge concern for me.

I'm personally looking at keeping the Bronco at least 10 year or so since my commute to work is less then 25 miles a day and I'll only be going in 2 days a week later in the fall. I was thinking about getting another Mustang when the Bronco is paid off.

 

[moisea]

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