Hard time selling bronco?

[ramblinwreck]

So i got it in may of 2023 and did a 3 yr loan on $29k and i ended up paying it off early. So in total ive only had it for 27 months but just bored of it now, i love it just ready for something different that has more luxury to it

yeah, so the looks like you spent about $30k to own it for 27 months, nearly $1100/mo!

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[GoHawks63]

Can they write the auto loan interest off?

Up until this year you could not deduct auto loan interest. A bill was recently passed where you can for a vehicle purchased in 2025 and I think up to 2028, but it has to be a vehicle built in the US.

I purchased my WT in January, so I ran the numbers. It's not much, but it's at least something.

 

[Baerkeeper]

Sold my 2023 2.3L 2 dr Basequatch with 9500 miles over the weekend and got $37,500.

MSRP was $39,820 (2022 January price), with tax/registration paid $44,500 OTD.

Because Ford started raising prices during that period, the Window sticker actually shows $41,400 and in July of 2023 it was raised further to $44K.

Owned it for exactly 30 months and lost $7K. With the warranty expiring in 6 months, didn't want to worry about the hardtop craking/bubbling.

So I basically leased my bronco for $233 per month for 30 months.

 

[crzyhawk]

Up until this year you could not deduct auto loan interest. A bill was recently passed where you can for a vehicle purchased in 2025 and I think up to 2028, but it has to be a vehicle built in the US.

I purchased my WT in January, so I ran the numbers. It's not much, but it's at least something.

*cries in 2024*

 

[RoccoG]

yeah, so the looks like you spent about $30k to own it for 27 months, nearly $1100/mo!

Well it depends on how much i sell it for

 

[EasternSierra]

I think part of the problem here is that some people out there still haven't psychologically adjusted to the vehicle market going back to more normal conditions. The early 2020s were a weird aberration thanks to supply chain problems. I couldn't believe that used Broncos were going for the same as new ones when I checked prices. No way was I going to pay that price for a used one, because there was no way that value was going to hold up as the market inevitably returned to normal over time.

A badlands will bring more than a base, but it will lose more in terms of percentage.

I've been told by multiple people over the decades that you should get the 4WD version of a vehicle because 'it holds its value better'. No, it does not. Sure, the used 4WD version will have a higher value than the equivalent 2WD version, but that extra value will itself decrease year by year as the vehicle ages, just like with other options. You still lose money on every piece of what you paid for on the new vehicle, including trim. Get the trim for its value to you, not for the resale value.

yeah, so the looks like you spent about $30k to own it for 27 months, nearly $1100/mo!

I spent about $850 per year in amortized purchase price on my old Toyota T-100 which I kept for 27 years. Now that was a deal, especially considering the minimal repair costs over that period.

 

[HoosierDaddy]

My biggest offer has been $37k as well for a 2023 badlands with sas and 16k miles. I was really hoping for at least $45k for a suv that was $62k 2 years ago

I'm not reading through all the pages of replies right now, but with the comment above, I think you have just discovered the difference between (realistic) trade-in value and list price.
There may be other similar Broncos listed at 45, which sounds about right at the moment, but no dealers will purchase one for anywhere near that amount.
The glory days are over.

Flip side... i see 2021 2dr Base models listed at $34k , all similar to mine , which MSRP'd at $32k.

 

[Dullah]

I recently sold my 22 two door outerbanks non sas for 30.5. This was in Dallas, TX.

 

[Sledge]

Has anyone had a hard time selling their bronco? There are so many on the market but i remember a time when it was so hard to get your hands on one. I keep getting online offers from sites like carfax, carmax, carvana, etc for way lower than expected and what i paid for it. Let me know if you sold your and for how much with miles, year, trim, etc.

A more insightful number would be what an end consumer pays for them, not what a dealer is offering you. What are carmax, etc, getting for them?

 

[Wardognal]

The Car market has changed in the last two years due to many factors. The average trade in at the dealership is over 6K underwater. Banks are no longer willing to absorb the negative equity. Interest rates have risen, and car loan approvals have decreased. The sad truth is most people have to take out a loan to purchase any car.
Repos are up and the Banks are taking it on chin for years of absorbing negative equity, and they aren’t doing it anymore. All vehicles across the board have lost equity, because there is just so few buyers. Buyers being people who have at least 20% down payment and a credit score above 750. Even if you are in that position a Loan for a used vehicle is running over 8% interest and that is just a hard pill to swallow. The good news is it doesn’t matter what the value is if you don’t sale. It.

 

[BroncoChallenger]

The Car market has changed in the last two years due to many factors. The average trade in at the dealership is over 6K underwater. Banks are no longer willing to absorb the negative equity. Interest rates have risen, and car loan approvals have decreased. The sad truth is most people have to take out a loan to purchase any car.
Repos are up and the Banks are taking it on chin for years of absorbing negative equity, and they aren’t doing it anymore. All vehicles across the board have lost equity, because there is just so few buyers. Buyers being people who have at least 20% down payment and a credit score above 750. Even if you are in that position a Loan for a used vehicle is running over 8% interest and that is just a hard pill to swallow. The good news is it doesn’t matter what the value is if you don’t sale. It.

Depends on where you finance, I picked up my '25 Tremor with a just over 6% rate...but I use CU's exclusively and have actually never had an account at a bank.

Pretty much everything else you stated is on the mark though - money has tightened up over the last couple years due to the high inflation rate the entire world experienced. It'll take a while of some gentle guidance to get back to anything we might consider 'normal.'

 

[FormerRotor]

FWIW: I’m with @BroncoChallenger on interest rates. Our credit union in the DC area is offering rates starting at 5.49 for up to 60 months. We’ve seen a ford dealer offer 5.38 on a used vehicle (0 down) for up to 72 mos through a credit union they work worth (not that I’d recommend anyone take that long to pay it off)

As far as vehicular equity: Keep in mind a typical AMG Mercedes loses 40 to 60% of its value over the first 2-3 years. Stagnant (or appreciating) car values aren’t normal. I think we’ll see a big hit on depreciation once all the warranty-frozen 24s are able to be sold off dealer lots, but ultimately I think we can be pleased with relatively light depreciation on our broncos (knock on wood).

I recently received a very solid trade offer on two vehicles (one Ford; one Non-Ford SUV) from a Ford dealer that was willing to pick up our Basesquatch from ~120 miles away. If it works out as-offered with no funny business at the closing table, I’ll post their information here (with their consent). So far I think I’m the one between the two parties who’s a bit of a pain in the transaction (just because I’m always skeptical of a deal that’s too easy or good without much effort) but if all works out, I’ll gladly return to them for a smooth sailing transaction in the future.

 

[GoHawks63]

Back in January I was able to get 5.39% interest with 65% down.

 

[Eighty Twenty]

Trims will definitely have a factor on it, but the market continues to get soft. I have a First Edition, so it seems to help a bit. I also agree that all the now underwater vehicles bought over the last few years at elevated prices will have folks in a tough spot when it comes time for them to sell it.

All my "in app" purchases, as my wife labeled them, will have me not think about the number if I ever consider selling it.

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