Used Value Dropping Fast

[Googz13]

Every few months I check my 21 Basesquatch out on carvana and noticed about a 3k-4k drop in value.

I have a lease and was considering a buyout in October; however, at this rate it seems like there will be zero or negative equity at that point.

Anyone else notice a huge drop off or is this just a carvana issue?

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[JeffL]

yes new ones are on lots for thousands under MSRP. which just tanks value of used. it's about time.

 

[BlueBronco]

It is not a Carvana issue. Broncos are starting to sit on the lot and the order to build turn around has drastically increased. The over ability of a new vehicle is always going to negatively impact the value of the same used vehicle.

 

[jehines3]

I'm not worried. I bought mine to keep it. For years, the Wrangler was one of the best residual values in the land. The same demographic and residual exists for the Bronco. We are in an overall market correction for non-essential things right now. Once the money flows again, toys like Broncos will be fine. Standard production vehicles are depreciating assets, some just better or worse than others.

 

[Fly]

Wait til the 2025 refresh comes out

 

[Silver-Bolt]

I have noticed that when you get a quote from the online car places and do not sell to them their "offer" rapidly declines over a very shot time. On top of that the newness of the Bronco has warn off and supply has caught up with demand.

 

[Glade Runner]

Wait til the 2025 refresh comes out

I would have, but need a vehicle now, and who knows if the Everglades will be available then.

 

[PSUTE]

My $40,000 Basesquatch build would cost $56,000 with the same specs...

 

[Fly]

I would have, but need a vehicle now, and who knows if the Everglades will be available then.

Yeah, I'm guessing the everglades doesn't survive the refresh

 

[Tdub0527]

Think there will actually be a refresh?

 

[lapazleo]

Yes Bronco values are going down dealers have inventory under msrp now, but Carvana is no place to check actual value. You should check Kelly blue book, Edmond's or NADA for more accurate values. Carvana, Carmax and others like them are going to offer bottom dollar.

 

[Ninjak]

Meh. I have invested in my Bronco, and I plan on keeping it for a while. Things such as a new cluster or dash can be put in separately when they become available.

That is the beauty of the vehicles. Modular, and can be upgraded at the drop of a hat.

 

[broncorik]

Wait til the 2025 refresh comes out

I loved my Bronco but oh boy did I get wrecked on the resale...kudos to those of you who are less impulsive than I am and who don't need the newest shiny thing and can wait it out! Along with the resale of the Bronco itself the parts that I bought that I salivated over (and had to wait for) also dropped like a rock in value even though they still cost a lot new.

 

[broncorik]

Yes Bronco values are going down dealers have inventory under msrp now, but Carvana is no place to check actual value. You should check Kelly blue book, Edmond's or NADA for more accurate values. Carvana, Carmax and others like them are going to offer bottom dollar.

As it turned out, Carvana is the one who bought my Bronco and they offered me much more than CarMax...KBB and NADA were very close to Carvana.

 

[raptorusmaximus]

for the first time ford has placed incentives on broncos.

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