Low value on used Bronco

[BroncoDymond88]

Hey everyone, wanted to share my experience here in case it helps anyone. Purchaed a '23 Hot Pepper Red Bronco at invoice price last October (roughly 62k). I added about 15k in accessories (paint protection, leveling kit etc), and it has 10k miles on it.

Took a shot in the dark and ordered a new '24 Wildtrak with the painted top. Dealer offered me 43k for mine (Bluebook shows a range of 53k to 60k). Dealer is only offering me 43k for it, and in getting other offers the best I've gotten is 45k. I';m told this is because the market is flooded with Broncos.

Is this consistent with anyone else's experience?

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[wigglysqiggly]

In theory accessories are cool factor and usually worth 10-20% of total value.

Next lets say the new price is 60k and taxes at 10% thats $6000. If they offer you 45k for your trade that is subtracted the from price which will be at $15k (=60k-45k), so tax would be $1,500. So you save $4500 in taxes.

Basically, your true trade in is 49.5k

 

[KillerPenz]

My guess is, they are flooded with Broncos they can't move. Probably goes for the majority of dealers in the US. If they are offering you 45k, it's because they plan to list it in the $48k-$50k range. And it won't be easy to sell a used Bronco with 10k miles in that range (once again, just my guess, can only assume your current is a WildTrak?)

As for your 15k in accessories, well I'd think that doesn't count for much. Look at it this way, you may not like what I do to my Bronco, and I may not like what you did with yours. Therefor neither one of us is willing to pay that extra cost.

You would probably make out better selling it privately.

 

[MNBigfoot]

In theory accessories are cool factor and usually worth 10-20% of total value.
...............

In terms of the aftermarket suspension, I suspect it devalued the Bronco, especially considering warranty issues.

 

[BroncoDymond88]

Interesting, but why is Blue Book so far off?

 

[BroncoDymond88]

In terms of the aftermarket suspension, I suspect it devalued the Bronco, especially considering warranty issues.

That might be possible, if the assumption is that I did major suspension work. I only added the kit to level it, the more expensive Fox shocks are still there and still in the sweet zone. Should I just have ignored that question? I answered it the same way in the Blue Book valuation.

 

[BroncoDymond88]

My guess is, they are flooded with Broncos they can't move. Probably goes for the majority of dealers in the US. If they are offering you 45k, it's because they plan to list it in the $48k-$50k range. And it won't be easy to sell a used Bronco with 10k miles in that range (once again, just my guess, can only assume your current is a WildTrak?)

As for your 15k in accessories, well I'd think that doesn't count for much. Look at it this way, you may not like what I do to my Bronco, and I may not like what you did with yours. Therefor neither one of us is willing to pay that extra cost.

You would probably make out better selling it privately.

I agree about the accessories point as well, but I felt that full vehicle paint protection is nothing but an added benefits. I spent a lot to get it put on and the next owner would benefit from the protection.

 

[KillerPenz]

Interesting, but why is Blue Book so far off?

I don't think I've EVER seen a dealer offer BlueBook value on a trade. In fact, every one of them has probably said to me "We don't go by BlueBook".

 

[Area51BS]

Modifications are worthless and may hurt. Market is not exactly great. Vehicles are sitting. Sell outright will get you some more. Might not outweigh tax savings.

 

[cobro92]

Welcome to new car ownership! Depreciation hits pretty much all new vehicles hard, but especially the bronco because there are so many on dealer lots now. The accessories are basically worthless, too.

If you want closer to the blue book value, I would try to sell it privately.

 

[BlueWaffle]

Production is meaningfully outpacing sales of broncos ATM, so Ford is cutting back and dealers know this.

The days of killer resale have been gone for awhile now.

 

[MNBigfoot]

Interesting, but why is Blue Book so far off?

What's your exact build? And are you using Excellent that is only supposed to apply to 2% of vehicles, but 98% of sellers plug in?

 

[Dougpaw57]

In terms of the aftermarket suspension, I suspect it devalued the Bronco, especially considering warranty issues.

This is what I also think. Most people don't want a modified vehicle because so many mods are done so poorly by sketchy shops.

 

[crenca]

Interesting, but why is Blue Book so far off?

Here is my read (just my opinion) of the market:

Kelley and similar services are 'laggy', even in normal markets. The Bronco market in particular has been one of early high high demand coupled with supply famine, and is now rapidly turning to normal (even > than normal) supply and normal, if not low-ish demand. Kelley is behind the market

That said, you probably need to shop your trade in around more or sell it yourself

Edit: Also what everyone is saying about mod's. Similar to how putting in a $30K swimming pool adds $0 to the resale value of your house.

 

[BroncoDymond88]

What's your exact build? And are you using Excellent that is only supposed to apply to 2% of vehicles, but 98% of sellers plug in?

It's a fully loaded Wildtrak. Yes, it is in Excellent condition and I marked it that way. Also can see that in the photos I provided.

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