Used Value Dropping Fast

[tourproto]

It’s disastrous for people who paid adm and have 84 month loans and need or want to get out of them.

If they weren't buying the Bronco as a keeper, they should have done a lease. At least that has a known exit point. Even with ADM.

If "life changes" are forcing them to have to give up the Bronco, they made a bad mistake buying a $50K vehicle in the first place.

Pay cash.

This country is too addicted to debt.

Our last 4 cars were all purchased with cash. When we were first married we put $200/month into a new car fund (that grew to $400 a month until about 6-7 years ago). Doesn’t seem like much but we keep our cars a long time. (Other than Bronco our other cars are 11 and 20 years old this year).

After around 10 years, we had more than enough to buy what we wanted (at the time).

People can do whatever they want with their money. If you want to have credit debt, go for it. For me and my wife, we chose to not waste it on interest and were willing to wait (and save our money) until we could pay for whatever the item was in full.

I never felt the need to pad the profits of banks and credit card companies just to have some shiny new object.

sorry for the rant.

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[FordFamily4Fun]

If you have the cash with other savings to buy a new vehicle, it only makes sense as a depreciating asset - and especially if you can't write it of as a business expense. And it makes financial sense to hold a car until it goes out to pasture as opposed to buying new every year or three. However, most people can't afford to pay cash for a car. And there are those who could buy a car cash, but finance because they want a boat and other toys too. Whatever makes you happy. I paid off my house by 43 and have paid cash for cars since I was 35. I'm not some real rich guy. I do well, but I also live frugally. It's funny how people look at this. I have a friend who is even more frugal than me who thought I was an idiot to buy a Bronco when I already have two serviceable vehicles. I guess you could say it is a bit frivolous, but for me as I get older I also had a "you only live once" moment and have no regrets. Others will say I should have bought a Raptor as I can afford one. To each their own.

 

[NirWheels]

What value? It’s not a stock market. I bought what I like, and enjoy my like with it. My 2 doors Manual is still more expensive than what I paid in 2022, but I can’t go with it to the supermarket. Just buy what you want / need and be happy. Life is too short.

 

[Googz13]

Sounds like your situation is similar to mine. My plan is still to buy mine out but lately I’m just wondering what my other options look like. I love my Bronco except for two things: I cannot get my hands on a hard top and I don’t have aux switches (don’t even know where my head was with that one). I don’t want to bother with aux switches unless I keep it. Also since Ford won’t be selling tops anytime soon and aftermarket ones are going for over $6000, I feel like giving it all up and going back to an F150. I get it, it’s a piece of metal, but giving it up at lease end will definitely hurt.

Same situation, the price of the hard tops is about the cost of taxes, titles, and fees on a new lease. Even if there was a way to negotiate the residual at the end of my lease, I would still want to need to replace my awful first gen soft top.

 

[Dangler]

yeah for Ranger and retail stock production...

I have to wonder, with sales down and a MY 2025 refresh looming (if that’s fact), how many more Broncos will Ford build for MY 2024?

Ford obviously hopes that a refresh will excite enough people, both current Bronco owners and otherwise. If it does, there will be a LOT of unsold, new 2024’s sitting on lots with STEEP discounts and incentives, and there’ll be an even bigger glut of used vehicles that came in on trade.

If folks don’t care about the latest and greatest, the time to buy a new Bronco will be once the 2025 models hit the dealer lots. What will be interesting is to see where Ford/dealers price the refreshed Bronco in comparison to 2024 MSRP.

 

[PrepVet]

Same situation, the price of the hard tops is about the cost of taxes, titles, and fees on a new lease. Even if there was a way to negotiate the residual at the end of my lease, I would still want to need to replace my awful first gen soft top.

What's wrong your with your soft top?

 

[Herewegoagain]

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.

My Bronco doubles as my coffin! It's going nowhere!

 

[FordFamily4Fun]

What? Like…what? They do determine the market bc that’s what people base their value of the commodity. Man some of yall are way too deep into the cope of being ripped off. We all paid too much period whether you keep it or don’t you got ripped off if you keep it forever it will break down bc it’s a ford and if you trade it in now then you will lose 25-30 percent of the original value and whatever adm you paid to be in the cool club. This is a vehicle not a bar of gold

I have a '22 I bought used about a month ago with 10k on it. I did save a bit buying used since I paid cash used and don't have these insane interest rates. I also know I still paid more than I would have in a year or two - maybe by quite a bit more. I don't care. I made a knowing choice knowing that and it is my money to do with as I see fit. Sure, some people will get blind-sided because they did not think things through, but paying a premium for something you would like to enjoy now with knowledge of that premium is just that - a valid and educated choice that in my case was not driven by emotion. Please don't speak for all people with your statement, and life is not always about always getting the best deal, or you will lose out on a lot of fun in life.

EDIT: And trust me that I know. I have lived a very frugal life and saved. I am not in some mid-life crises, but thought I am getting older and have the money so why not? Other than buying the Bronco, still a lot in the bank and otherwise pretty frugal. No, the Bronco is not a bar of gold. But the smile it puts on my face is worth the price, and it did not come close to breaking the bank.

 

[BroncocnorB]

Hold my beer, I’m off to put my $100 deposit down on a new Scout.

 

[FordFamily4Fun]

Hold my beer, I’m off to put my $100 deposit down on a new Scout.

Looking at your profile pic.

'Oh, this your wife, huh? A lovely lady. Hey baby, you must’ve been something before electricity.'

 

[Dude1967]

Pay cash.

This country is too addicted to debt.

Amen. If you cant put a chunk down.

 

[Bigfx]

I have a '22 I bought used about a month ago with 10k on it. I did save a bit buying used since I paid cash used and don't have these insane interest rates. I also know I still paid more than I would have in a year or two - maybe by quite a bit more. I don't care. I made a knowing choice knowing that and it is my money to do with as I see fit. Sure, some people will get blind-sided because they did not think things through, but paying a premium for something you would like to enjoy now with knowledge of that premium is just that - a valid and educated choice that in my case was not driven by emotion. Please don't speak for all people with your statement, and life is not always about always getting the best deal, or you will lose out on a lot of fun in life.

EDIT: And trust me that I know. I have lived a very frugal life and saved. I am not in some mid-life crises, but thought I am getting older and have the money so why not? Other than buying the Bronco, still a lot in the bank and otherwise pretty frugal. No, the Bronco is not a bar of gold. But the smile it puts on my face is worth the price, and it did not come close to breaking the bank.

So you got ripped off but you have a lot of money and that makes it ok, hey if that’s ok with you that’s ok with me but you still got ripped off. Facts are facts and life as you poetically waxed for me has so very little to do with owning a bronco but I’m not bending over for anyone and being taken advantage bc my spiritual 4x4 taken me down the rainbow bridge to Valhalla. It’s a truck that’s all

 

[Broncofly]

About the OP………

Where are the life rafts? Women and children first!!! Abandon ship, abandon ship!!!

 

[FordFamily4Fun]

So you got ripped off but you have a lot of money and that makes it ok, hey if that’s ok with you that’s ok with me but you still got ripped off. Facts are facts and life as you poetically waxed for me has so very little to do with owning a bronco but I’m not bending over for anyone and being taken advantage bc my spiritual 4x4 taken me down the rainbow bridge to Valhalla. It’s a truck that’s all

Buy a lemon? All brands make them.

 

[BroncoA512021]

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?

I hate to how bad your lease is..... There was no reason to lease a 2021..

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