New vs used bronco price issues

[Soupflakes]

Hey yall! So I'm in the market for broncos and am doing a ton of looking and something is standing out to me. A LOT of people way overpaid for their 21 to 23 broncos, so much so new broncos I'm looking at are under the price they're asking for used ones. Honest question, a ton of these people are so far upside down I forsee a lot of broncos going back to the bank, that being said, is there a way for the public to find repos/turn ins for sale from the banks? Or is that just a bank to bank thing? I've found a new mid level badlands non SAS for $45k before ttl, and used ones are up around 50k. It just doesn't seem to make sense to buy used right now, unless I can get a repo or something like that

Sponsored

 

[RagnarKon]

Repo'd cars are often sold at automobile auctions. There are hundreds of them (probably thousands) around the country.

Getting access to those auctions can sometimes be tricky, simply because some states forbid individuals from participating in those auctions. In my state, for example, you need to have an automotive-related business license (dealer, scrapper, body shop, reseller, etc.).

 

[mpeugeot]

I looked online just this morning at used Bronco prices and most were overpriced. The best used deals appeared to actually be on loaded Badlands and Outer Banks Broncos, as the lower trim Broncos were priced just about the same as the higher priced ones.

Given my personal experience, a well cared for high mileage Bronco would be the most attractive to me, because broken used Broncos don't rack up mileage sitting in the shop. Especially when the vehicle is less than 4 years old.

The most important thing is oil changes on these Broncos. Frequent oil changes would positively influence my decision.

Just my 2¢.

 

[voxel]

Hey yall! So I'm in the market for broncos and am doing a ton of looking and something is standing out to me. A LOT of people way overpaid for their 21 to 23 broncos, so much so new broncos I'm looking at are under the price they're asking for used ones. Honest question, a ton of these people are so far upside down I forsee a lot of broncos going back to the bank, that being said, is there a way for the public to find repos/turn ins for sale from the banks? Or is that just a bank to bank thing? I've found a new mid level badlands non SAS for $45k before ttl, and used ones are up around 50k. It just doesn't seem to make sense to buy used right now, unless I can get a repo or something like that

If you see an overpriced used Bronco at a dealer.. it is they who overpaid for it. They have access to MMR/auction/wholesale data (where repos go to also) which has recent transaction prices and Bronco values are now below their sticker.

Not sure why you want to buy a repo Bronco... you have no clue what the condition is. Besides, auction prices often don't care about packages and sometimes two Bronco with vastly different packages (soft top, I-4, manual vs. hardtop, V6, auto) - are valued almost the same. As others have said, you need a dealer's license to bid/buy at an auction but there are workarounds like finding a friend with a license to bid/buy for you.

 

[JL8jeff]

I wouldn't worry as much about low mileage Broncos, I've had mine for 20 months and it's my daily vehicle and I just hit 5200 miles. I don't drive it every day because I usually don't have to go anywhere. Plus a lot of these trucks are people's 2nd vehicle they ordered for fun so they don't put a lot of miles on it. But the overpriced used trucks are most likely people who paid the markups.

 

[adam1991]

The most important thing is oil changes on these Broncos. Frequent oil changes would positively influence my decision.

yeah, but how do you get any information at all regarding that on any given vehicle?

 

[mpeugeot]

yeah, but how do you get any information at all regarding that on any given vehicle?

Well, if they did their oil changes at the dealership, it's easy. Sometimes people leave the receipts behind (and you can ask the dealership). Worse comes to worse, you can request the dealership give you a sample of the oil for analysis, send it out, and if you see wear metal in the oil, walk away.

Some oil change places report to CarFax and the CarFax report might show it. Even if all the oil changes weren't recorded, I would bet (on a one owner car) if the first oil change was done before 5k miles, it was likely changed very frequently.

My first oil change was done at 1000 miles, and my second was at 5k, the rest were between 4k -5k miles. It's highly likely that anyone doing early oil changes understands the importance of doing them more frequently than the factory 10k interval. That said, an oil analysis is king, and definitely can tell you a lot.

 

[mpeugeot]

Also for the OP, a little VIN decoding for 2021-2023. This will help you focus on the right Bronco without having to read all the information .

1FMDE5AP 2 door 2.7
1FMDE5BP 4 door 2.7 (unlikely)
1FMDE5CP 2 door 2.7 advanced 4x4
1FMDE5DP 4 door 2.7 advanced 4x4 (unlikely)

1FMDE5AH 2 door 2.3
1FMDE5BH 4 door 2.3
1FMDE5CH 2 door 2.3 advanced 4x4
1FMDE5DH 4 door 2.3 advanced 4x4

1FMEE5BP 4 door 2.7
1FMEE5DP 4 door 2.7 advanced 4x4

1FMEE5BH 4 door 2.3
1FMEE5DH 4 door 2.3 advanced 4x4

So decoding the first 8 digits of the VIN helps find the right Bronco quickly.

Digits 1-3 (assembly location)
1FM (Ford Motor Michigan Assembly Plant)

Digit 4 (gross weight)
D (smaller lighter Broncos, typically 2 doors)
E (porker more door Broncos)

Digits 5-7 (Body Style)
E5A 2 door
E5B 4door
E5C 2 door advanced 4x4
E5D 4 door advanced 4x4

All Sasquatch package Broncos are E5C and E5D, but not all E5C and E5D Broncos have the Sasquatch package. E5A and E5B are NEVER Sasquatch Broncos.

Digit 8 (engine code)
P 2.7 (always automatic)
H 2.3 (can be automatic or manual)

 

[Wathoff24]

Hey yall! So I'm in the market for broncos and am doing a ton of looking and something is standing out to me. A LOT of people way overpaid for their 21 to 23 broncos, so much so new broncos I'm looking at are under the price they're asking for used ones. Honest question, a ton of these people are so far upside down I forsee a lot of broncos going back to the bank, that being said, is there a way for the public to find repos/turn ins for sale from the banks? Or is that just a bank to bank thing? I've found a new mid level badlands non SAS for $45k before ttl, and used ones are up around 50k. It just doesn't seem to make sense to buy used right now, unless I can get a repo or something like that

Before buying new in April, I spent a lot of time looking at Broncos on Carvana and others. Prices were all over the place and used seemed pretty high and many had a lot of mileage. When you look a lot of pics online, you can start to see the extreme wear-n-tear on some.

 

[Carnutdallas]

I myself and considering a second Bronco and looking for the right deal. Prices are high for used right now, but the deals will be happening eventually. Market will get softer, vehicles will get older and prices will come down for used. I have no plans to ever buy another new one from the dealer. Patience, patience, patience

 

[Deleted member 64703]

There are a ton of BB and OB new on lots. I looked at used v new and it just made better sense to go new with full warranty. To each their own but I prefer a BB I can build over time vs. an unknown. Also, if going lower end like me, the new BB has the big screen which is nice.

 

[huey]

Another piece that may be impacting prices - is Ford's rapid MSRP price increases
There was a pretty steep ramp up in pricing from Ford. I believe it was by job 2 in 2023 where most of the price increases had shown up. I'm sure others can comment verify better on the timing of MSRP pumps. The price protection I had from my reservation is a far cry from what I would have paid late 23. Add on to that anyone who paid dealer markup.

Now Ford is offering incentives on the Badlands to help move 24's.
Would love to see a chart of prices paid from 21 to early 24 by trim

 

[Rebel Bronc]

Slightly on topic. What are the downfalls of buying a new ‘23 with deep discounts?

 

[TX-Dennis]

I wouldn’t knowingly buy a repo. Chances are if the previous owner couldn’t afford the payments, they couldn’t afford maintenance either.

 

[BroncoChallenger]

I wouldn’t knowingly buy a repo. Chances are if the previous owner couldn’t afford the payments, they couldn’t afford maintenance either.

I'd say it depends, and if you can actually look at it before buying it MIGHT be okay. My FIL has bought several Repo's, but ALL of them were directly through his CU and he was able to look them over before buying. Granted it's been a WHILE since he's bought anything that way so I can't confirm that his CU still does this, but every one he bought was low miles and in excellent shape.

Sponsored