Low value on used Bronco

[BlueWaffle]

On the flip side, just last night I noticed that 2021 Base Broncos are listing at roughly original MSRP .... fwiw. Lol.
Cars.com ....

What I noticed when shopping for my bronco was that the online sellers always have shit listed meaningfully more expensive than what the same vehicle would cost from a 'traditional' dealership. They usually offer higher trade in value though so.. could be a wash under the right circumstances.

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[dgorsett]

We all bought high market...in demand, no supply.

Now, supply is high, demand maybe not as much. Enjoy the RIDE, don't sell.

To reiterate this. It looks like you have a 23? Wildtrak and are looking for a 24 for the mod top and my have had a 21 Dirt Mtn like @Headsong and I. Well, Headsongs may have disappeared into magic mountain but...We all bought at peak demand and low supply, but that's ok we've been enjoying them. Then with high MSRPs now, ours look pretty good even with rebates/incentives. Just drive it. Everyday you drive it YOU get value out of it and the mods you've done that nobody will pay you for. At some point the value you've gotten will outweigh what you've spent and you will be the winner whether you keep or trade. Someday maybe it will make sense for us to buy Mod tops for our older Broncos or maybe Ford will buy them for us when they admit the MIC was junk (knock on wood, mine's fine)

 

[mpeugeot]

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?

If the best offer you have gotten is $45k, that alone should tell you something about the market, at least with those who have been willing to buy it.

Doing an analysis earlier last month, the market appeared flooded, lower trim/optioned models had more residual value than higher trim/optioned models (by a lot), and that any aftermarket parts are worth 0 to the trade-in value (at most).

That’s probably not the answer you wanted to hear, but it's definitely the truth. You're not going to get much more without doing a private sale.

 

[MNBigfoot]

So you have $77k into a Bronco that now worth mid $40s, and want to buy a one year newer model that will take another $10k hit when you drive it off the lot because you want a painted top. That's top is going to set you back $40K+ or is my math wrong? And if it is, where did I go wrong?

 

[V1Rotate]

The days of flipping these 6th gens is long gone.. I think the weird vehicle market of 2020-2022 spoiled everybody. Heck my wife and I flipped a brand new Subaru Ascent in 2022 and made $8k 3 months after driving it off the lot when TRADING it in for our Bronco. Wild times.

We're back to the ole "drive it off the lot and take a bath" days so something in the high 40's for 2023 WT doesn't sound unreasonable on a trade right now. Upgrades are useless to a dealer.. just limits their market IMO. If you want to try and fish for some more cash it'll have to be a third party looking for a turn-key ride that matches your style.

I fully assume every dollar i spend on Upgrades/customization is a dollar i'll never see again unless im willing to spend 3 or 4 months waiting for the perfect buyer.

 

[brocosaurus]

Not many people will want to buy a used 23 with mods for 50k when they can get a new wildtrak for 54~ with all the incentives out. I didn’t even consider used when making my purchase recently because I don’t trust most people to mod well haha.

 

[PrepVet]

You will never get back what you spend on "accessories." In fact it can often times reduce what you can get. (It sure would for me if I were shopping.) And the car market itself is in the dumpster right now and Ford had far over produced Broncos so new ones are getting discounts.

 

[cobro92]

So you have $77k into a Bronco that now worth mid $40s, and want to buy a one year newer model that will take another $10k hit when you drive it off the lot because you want a painted top. That's top is going to set you back $40K+ or is my math wrong? And if it is, where did I go wrong?

I don't think most people realize this when they buy new. Nobody looks at the depreciation as part of the cost of the car. All cars have some depreciation, but new cars are the worst. Not only do you pay for the interest on the loan, you also pay for the deprecation, which is usually far more expensive than the interest. Best way to not lose thousands on a car is to buy a 3+ year old one and pay cash, if you can.

 

[Badrap]

Re inventory and prices, particularly on Raptors, Ford is chock full of them. I bought my new Raptor on 12/7 this year. I paid $81900 on a $97400 monroney. My quest started about 8 months earlier and I had more than one dealer laugh at my offers. They're not laughing anymore. Two dealers have called me since I bought to see if I was still interested - felt great to tell them to piss off. I sell motorcycles for a living and can tell you first hand, accessories add ZERO for trade value. You're better off returning a tricked out Pony to stock and selling the goodies to the next enthusiast.

 

[MNBigfoot]

I don't think most people realize this when they buy new. Nobody looks at the depreciation as part of the cost of the car. All cars have some depreciation, but new cars are the worst. Not only do you pay for the interest on the loan, you also pay for the deprecation, which is usually far more expensive than the interest. Best way to not lose thousands on a car is to buy a 3+ year old one and pay cash, if you can.

Good Lord, I hope he's paying cash, can you imagine financing a $40,000+ hardtop at 7%, LOL.

 

[heavyD]

I would expect Bronco resale value to be low at this point in time considering the amount of 2024 overproduction and availability of discounted new models. With Ford reducing production for 2025 things should settle out in a few years

 

[cobro92]

Good Lord, I hope he's paying cash, can you imagine financing a $40,000+ hardtop at 7%, LOL.

Yeah save the money and add a hardtop aftermarket. That might actually add some value!

 

[Biigiy214]

When you buy new you lose your tail the minute you drive off of the lot if you try and get rid of it in a few years.I just picked up a 24 big bend 4 door 3 months ago and with x plan it was 48k.I has 1500 miles on it and kbb says trade in value for excellent is 42k I would be lucky to get 40k for it so 8k loss in 3 months.

 

[MaximuNashville]

I think timing is everything here and agree with what most have said. Dealers have ‘24s they’re trying to move that are going to have to see even heavier discounts once the ‘25s hit.
Also have to take a look at the deal you’re getting on the new WT. Could be tough to stomach the KBB trade difference but are you getting $7k off the new one? If so, that’s probably the best way to gauge value here. Like for like or however you want to think about it.

 

[indio22]

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.

Only once have I bought a modded vehicle ... never again. Too many unexpected headaches. I'd rather a blank canvas without previous owner tricks, and setup how I want.

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