Low value on used Bronco

[CV428]

Yup, in my case, 16 year old kid with a license for less than a week ran a stop sign and I hit them doing about 40. 3 Vehicles involved. Didn't get back anywhere near what it was worth (to me) and they had bare minimum insurance. I'm still, over a year and a half later, getting a monthly notice from their insurance company that they are still awaiting all the damages to be reported before making a final decision on payouts. Even though the insurance rep on their side said with 3 totaled vehicles they wont be able to give any if at all.

Not to hijack the thread, but that's similar to what our situation was. We were offered something like (estimating, it has been a while) $15k and $12k for $42k (Jeep) and $90k (medical) in damages due to state minimum coverage and 5 victims. We opted to put it under our own insurance and had them subrogate. We still lost our butts financially, and my wife took 2 years to recover, but putting it under our own insurance helped even though Allstate attempted every nasty move in the book to screw us over.

I am sorry you're having to go through that. You're not alone...

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[FloridaBurgBronco]

This is true if you bought the original poorly which MANY did with ADM. If you bought well then there is no pounding. We just traded a '23 we had for almost 2 years and 17k miles and bought a '24. Since I bought well and traded well I lost about $1k for 17k miles and 23 months of ownership.

So, for a 2 year old vehicle, they only gave you $1000 under what you paid for it? Just to be clear, is that what you are saying?

 

[CMillBronco]

So, for a 2 year old vehicle, they only gave you $1000 under what you paid for it? Just to be clear, is that what you are saying?

I paid 32k with price protection and they gave me 33k trade which saved me $2600 on taxes as well.

 

[indio22]

That's very rare, and more power to you if you can manage a deal like that.

My point from earlier is, most do not and cannot find a deal or scenario such as yours. Most people operate with "monthly payment" mentality and pine for top trim just so they can get more likes and shares on social media. It's their money to waste, I'm just offering a caution.

I was at a dealership buying a new car, and some guy in the cube next to me was attempting the same. Except the guy was trying to trade a one year old vehicle in which he was underwater, and also had bad credit (go figure).

The salesman was making calls and trying everyway to Sunday to make the deal work. But this guy had no business buying the car. He was there with some woman looking on. I wanted to tell her: "Run! Run away!".

 

[BroncoDymond88]

In my situation, I bought the Wildtrak at the end of '21, one of the first ones off the line, and the best color possible ever. I paid $56k for it, then added about 10k in PPF and other accessories that aren't removable. It was tough but I had enough saved that I could do it and have a reasonable payment. Even bought the extended warranty, I was going to keep it for life!

After the accident I was paid out $40k by insurance, no more no less.

Almost exactly two years later when I bought the next Wildtrak, the only upgrade was the leather seats and it came out to $10k+ more.

I know we all know that the prices on these have quickly risen but this is actual evidence right here.

 

[mpeugeot]

So, for a 2 year old vehicle, they only gave you $1000 under what you paid for it? Just to be clear, is that what you are saying?

When I traded my early 2023 Bronco with 5k miles in on my new F-150 in November 2023, I ended up getting $9k more than I paid for it on the trade-in. So with $0 down, I financed $37k @ 1.9% for my 2023 (MSRP was something north of $50k), multiple perfect storms in series.

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