trade in values exploding

[Zeno]

So, we just got this 90 for my wife yesterday. While I wouldn’t trade my incoming Badlands for it, it is perfect for my wife and she loves it. Very solid vehicle and it drives great!

Just to give you an idea how the car market is now, this was the only Defender that they had. 90 or 110. They held at MSRP at $66,400, BUT!

They gave us 35k for our trade in. A 2016 LR4 with 64,000 miles that they had just given us a quote of $2,640.88 to repair a coolant leak that required a new water pump, coolant manifold and Y pipe connector. It was also going to need new brakes front and back in about 10,000 miles. Get ready for the kicker. The same dealership appraised the LR4 in January of 2020, because we were looking at possibly getting something else. They offered us 28k trade in. Yep. A year and 5 months later, $2,640.88 in verified necessary repairs, and 12,000 more miles on the LR4 and they offered us $7,000 more for it. Just crazy.

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[Axe]

Please tell us how it goes. I am not 100% about Vroom or Carvana.

Just got back from Carmax...they offered me 30k. Offers good for a week, so Ill wait to see what Carvana says Saturday. 2014 FJ with 69k miles.

 

[RedHotFuzz]

Haha. Not worth leasing for sure if residual prices start high

Times of high residual values are the perfect time to lease.

 

[NewToBronco]

Has anyone tried Vroom or Carvana?

I am not sure about the customer experience.
Their numbers are very favorable for My Mustang.

FWIW - I'm getting offered about $200 more from Carmax for a 2012 Pilot than Carvana.

 

[DryYourTears]

So, we just got this 90 for my wife yesterday. While I wouldn’t trade my incoming Badlands for it, it is perfect for my wife and she loves it. Very solid vehicle and it drives great!

Just to give you an idea how the car market is now, this was the only Defender that they had. 90 or 110. They held at MSRP at $66,400, BUT!

They gave us 35k for our trade in. A 2016 LR4 with 64,000 miles that they had just given us a quote of $2,640.88 to repair a coolant leak that required a new water pump, coolant manifold and Y pipe connector. It was also going to need new brakes front and back in about 10,000 miles. Get ready for the kicker. The same dealership appraised the LR4 in January of 2020, because we were looking at possibly getting something else. They offered us 28k trade in. Yep. A year and 5 months later, $2,640.88 in verified necessary repairs, and 12,000 more miles on the LR4 and the offered us $7,000 more for it. Just crazy.

I'm so close to pulling the trigger on a 110. There are a few out there that would work for me, or I could order one - Defender production is not being affected by chips and delivery would be earlier than my Badlands build.

 

[Desert_6G]

Yep. It's good timing. The private part value has gone up on my Ranger has increased $7k in 6 months. It's getting close to what I paid for it 2 years ago.

 

[lobbs611]

I traded in my Camaro that was paid off on a '19 Cherokee Trailhawk to get me thru til my Bronco arrives. Trying to keep as much value from the Camaro as possible to apply, eventually, towards the down on the Ford. I got an awesome rate (2.9% for 60), what I wanted out of the Camaro and fair price on the Jeep. Hoping that trade-in values stay this high thru next year so that all I'm really losing is the sales tax on the difference between the Camaro and Cherokee.

 

[Grayman]

I hope that market is still hot in a year... should have my 2017 Silverado 4x4 paid off by then... looking to trade it in on the Bronco its a Single cab but only has 13K miles on it and really clean

 

[PowPow]

yeah man, my lease on my Tahoe runs out this Oct. Right now my car, according to KBB is worth about 10k+ more than the residual. I'm thinking of buying it out, and then leasing a 2021 Tahoe. HOWEVER, as hot as the trade in market is, it's borderline impossible to find anything new. I literally can't find a Tahoe.

Same with the housing market. Houses in my neighborhood have exploded. We could easily make upwards of close to $200k more than what we bought our house for. So my wife asked me "should we sell the house?". I was like yeah, but then where do we move? anything we'd buy would be just as expensive. So at least in that situation, it's a wash. My neighbor made out tho, empty nester, was ready to downsize. Made a killing.

 

[gshorn]

Times of high residual values are the perfect time to lease.

i get that I guess what i meant is if vehicles are going to hold value so well, why spend money on leasing. No way they let you off the lot for less than $500/ month for a bronco no matter what the residual is.

 

[vrtical]

yup I dumped my F150 last week decided not to wait it out, it went up 7K since end of December. I was gonna hold for the Bronco trade, but that seems like it could be a while and ended up replacing another car that had a lot of miles on it that my wife drives everyday for work. That one I am driving until either it dies or makes it to the Bronco pick up, I don't need transportation for work.

 

[gshorn]

yup I dumped my F150 last week decided not to wait it out, it went up 7K since end of December. I was gonna hold for the Bronco trade, but that seems like it could be a while and ended up replacing another car that had a lot of miles on it that my wife drives everyday for work. That one I am driving until either it dies or makes it to the Bronco pick up, I don't need transportation for work.

yeah i wish i could just sell but need my truck until i get the bronco.

 

[79BKO]

So just looked at Carvana and my 2014 Ford Escape is 2K more than I owe on it. My bronco has a June 28 build date. So I hope these values hold till say August. I will be sending it to the highest bidder come trade in time. Originally bought it from CarMax. I've bought and sold with CarMax in the past with good results.

 

[Tyrober]

Just plugged my 2012 f150 lariat with 79k miles and they'll give me 20k and come pick it up. Dealership only offered me 18k on trade in but told me I should have no problem selling it for 24k privately at minimum. 58k for my Wildtrak doesn't seem so bad now.

 

[vrtical]

yeah i wish i could just sell but need my truck until i get the bronco.

yeah I used my truck ALOT for hauling stuff around, now I am limited, but I will just work around it, figure the cost savings even for a couple of months was worth it. The way things are going, it seems the next 6 months were not gonna do much and I sure am the hell not going to buy anything house related. I was going to buy a little utility trailer for the Bronco.

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