Used Value Dropping Fast

[AKBronc49]

I was genuinely curious, I'm 2.5 years into ownership, I don't plan to ever get rid of my Bronco. I just paid it off last week (great feeling) and had not looked at values in a long time. I paid $56.9k Nov 2021, MSRP was $58.6k and I had a 2.6% interest rate. I have 14.5k miles on it now and it's perfect, zero damage. I was pleasantly surprised by the current value, even though it has no meaning to me.

Local market is still tough, inventory is still very, very low. Used prices are still high, part of that is the "Alaska tax". Bottom line, this is a mass production vehicle so it was never going to be some kind of golden ticket forever.

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[Baerkeeper]

I was curious and checked my dealer's Bronco inventory and it says they have 32 in stock. LOL
13 Raptors
8 Wildtrak
5 Badlands
2 Big Bend
4 Outer Banks

The market is just correcting itself from the craziness we had the past few years.
to those who willingly paid ADM.

 

[King_Bronco0327]

Good thing I bought it as a lifer.

 

[PrepVet]

]

Are you seeing low mileage Sas Bronco' for $32k in your area? I'm not.

Same here. If I saw that I would entertain swapping out my current one.

 

[Jhopkinson]

Are you seeing low mileage Sas Bronco' for $32k in your area? I'm not.

I have not seen a SAS equipped Bronco for less than $40K.

 

[PrepVet]

I have not seen a SAS equipped Bronco for less than $40K.

Same here. The member you quoted seemed to not be realistic. lol

 

[JerryC]

Cars and trucks are my thing. I don't drink, smoke, do drugs, lie, cheat or steal. Weird huh? I don't buy expensive clothes, furniture or any of the things a lot of people do. I do like good food.

So I buy a vehicle every two or three years. I try not to get screwed at the dealer but I'm not afraid to pay for what I want. Buying new vehicles is losing money, no doubt. But to so are the vices I listed above.

I'm happy with where we are at on our Bronco values.

 

[MNBigfoot]

Same here. The member you quoted seemed to not be realistic. lol

My post was in regards to the OP, who has a buyout price of $32k and thinks he was upside down.

 

[Surfnbike]

You made some good points but Ford hasn't changed the sauce for the most part: the 2024 Bronco is pretty much the 2021 Bronco; only the '24 sasquatched Broncos get the Hoss 3.0 steering rack/tie rods. Most broncos are ordered non-SQ.

The biggest depreciation hit is taxes & fees. In California you get hit 10% for those, then add the usual $2k in "destination fees" from the Ford dealer, so all in you lose about 15% when buying new right off the bat.

 

[TonkaTruck]

Are you seeing low mileage Sas Bronco' for $32k in your area? I'm not.

I have not, I was just commenting on the premise of the OP’s concern. If their Bronco actually depreciated more than the negotiated residual value on their lease, that’s a good thing. The lender eats the additional depreciation. Buy it, or another vehicle at the lower value.

As to the actual numbers, I can only take them for their word. In the MSP metro, values seem to be holding quite well.

 

[MNBigfoot]

You made some good points but Ford hasn't changed the sauce for the most part: the 2024 Bronco is pretty much the 2021 Bronco; only the '24 sasquatched Broncos get the Hoss 3.0 steering rack/tie rods. Most broncos are ordered non-SQ.

The biggest depreciation hit is taxes & fees. In California you get hit 10% for those, then add the usual $2k in "destination fees" from the Ford dealer, so all in you lose about 15% when buying new right off the bat.

With WT's, BL's, HE's, EG plus adding Sas to the remaining 3, I'd guess most customer ordered Bronco's will have the Hoss 3.0 rack.

 

[JerryC]

The biggest depreciation hit is taxes & fees. In California you get hit 10% for those, then add the usual $2k in "destination fees" from the Ford dealer, so all in you lose about 15% when buying new right off the bat.

Ya, 9% tax here and that hurts when it's something like a loaded out vehicle.
We do get a bit of a break when trading in, you pay the tax on the difference between trade in value and the one you are buying.

 

[FordFamily4Fun]

Airlines and travel site 100% do this. Always clear your browser history when booking any travel.

Do that, but most importantly use a VPN. You can shop by city by changing your VPN server to different cities to get the best rate.

 

[mpeugeot]

I was genuinely curious, I'm 2.5 years into ownership, I don't plan to ever get rid of my Bronco. I just paid it off last week (great feeling) and had not looked at values in a long time. I paid $56.9k Nov 2021, MSRP was $58.6k and I had a 2.6% interest rate. I have 14.5k miles on it now and it's perfect, zero damage. I was pleasantly surprised by the current value, even though it has no meaning to me.

Local market is still tough, inventory is still very, very low. Used prices are still high, part of that is the "Alaska tax". Bottom line, this is a mass production vehicle so it was never going to be some kind of golden ticket forever.

I live in a very different world apparently!

They are high AF, although I think that my Bronco is in Excellent condition, that would only be $1k higher than this value.

 

[AKBronc49]

I live in a very different world apparently!


They are high AF, although I think that my Bronco is in Excellent condition, that would only be $1k higher than this value.

It is definitely a different world up here in AK, but 90k vs 14.5k miles is a pretty big difference lol looking at used Sasquatch's up here are they are listed for over book value by a good bit. But with interest rates and brand new units going for msrp or less it doesn't make any sense to buy used.

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