Resale Question: What is my Bronco really worth?

[Bronco_Nole]

I escaped by the skin of my teeth with this falling market .
My gut says you need to get off the fence and unload that thing.
I can all but guarantee the price will NOT go back UP.

Yeah I am likely going to do so this week!

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[MichaelCar001]

This is my thought, that has been my angle with the few dealers I have spoken to, but so far no bites.

I think that's the dealers' game. They just want to convince you that your car is worth nothing buy it for peanuts, and then sell it for a good price. Hence, to make a larger margin profit.

 

[Bronco_Nole]

I think that's the dealers' game. They just want to convince you that your car is worth nothing buy it for peanuts, and then sell it for a good price. Hence, to make a larger margin profit.

You’re absolutely right! So now that I have a Carvana price good thru next Tuesday that I am happy with, I’m able to take this price to the various dealers that literally have the same truck I am interested in. And unless they give me that Carvana price but as a trade, I’ll be buying from another dealer.

 

[userdude]

I’ve got one dealer who offered $33k. His opinion is it’s for $37k on his lot so a little room there.

Nearly 30 years ago my Dad had a 94 Chevy pickup that, while not a top model (Cheyenne), it was a nice truck and my Dad ALWAYS takes care of his cars (it's whole thing). So he takes it to a dealer, who basically said the same thing (I was there). So my Dad took less than he wanted to get into his 96 Silverado (which was a nice truck...).

As we're filling out the paperwork, waiting (and waiting), some guy with a teenager goes driving by in the truck. Takes a right at a stop, then drives into a neighborhood. My Dad's like, look someone's test driving the truck. Absentmindedly, the finance guy goes, oh that's the [dealer management guy], he bought that truck when it was traded in, it's for his son. Paid cost. Oh.

 

[Bronco_Nole]

Nearly 30 years ago my Dad had a 94 Chevy pickup that, while not a top model (Cheyenne), it was a nice truck and my Dad ALWAYS takes care of his cars (it's whole thing). So he takes it to a dealer, who basically said the same thing (I was there). So my Dad took less than he wanted to get into his 96 Silverado (which was a nice truck...).

As we're filling out the paperwork, waiting (and waiting), some guy with a teenager goes driving by in the truck. Takes a right at a stop, then drives into a neighborhood. My Dad's like, look someone's test driving the truck. Absentmindedly, the finance guy goes, oh that's the [dealer management guy], he bought that truck when it was traded in, it's for his son. Paid cost. Oh.

Brutal and I am sure that happens every single day! Over the years I have had to train myself to not take things, specifically car negotation, personally. If I am happy with the number, I walk away happy and it's done. That said, I think if I witnessed that situation I would be the opposite of happy...and that would be the last time I walked into that dealership!

 

[Bronco_Nole]

Update: put a deposit down on a new truck yesterday!

Was able to negotiate a $35k trade in for my Bronco. Really really happy with that considering I paid sticker ($34.7k or so) a little over a year ago. Add that to a nearly $2,500 tax credit, that would put my private party sale at $37,500 if I went that route. Not sure how quick/easy that would have been considering the current market.

Other than a standing offer from Carvana for $35.2k I couldn’t get any other dealer to even offer me anywhere close to a realistic trade number. Feels like this is the right time before the value goes lower.

Thanks to all who contributed to the thread! Sad to see the bronco go and in a different situation I would have loved to keep it, but it will be nice for my growing family with 2 dogs to have something with 4 doors and a bit bigger/better suitable for travel.

 

[LCW]

Other than the (very accurate) old saying “it’s worth what someone else is willing to pay for it…” I am having a hard time coming up with a true value for my 2023 Black Base 2-Door 7MT. Especially with the market on Bronco’s dropping as of late.

Zero factory options, purchased end of March 2023, sitting at 4,350 miles (it sits in my garage mostly). I have added some cosmetic upgrades: running boards, roof rack, sill plates, bronco badging, 31” MT’s, bronco floor mats, Mabett seat covers, and shorty antenna. It’s also been rust proofed prior to this winter. Wanted to do just enough to give it a cool original bronco look, and I love it!

Less than a month after purchasing found out my wife was pregnant, and now that the baby is here and 5 months old, crawling through the back seat to get her in the car seat isn’t going to work for much longer!

What should I realistically be expecting as far as the market goes for my bronco? I am sure most feel this bias, but I genuinely feel like there’s some uniqueness here that is making it hard to value. Here’s just a few of my thoughts and would love some opinions from the forum!

1) this was a 1st half of 2023 bronco, so the msrp was something like $34,700. Within a month or two of me purchasing, Ford raised the pricing on the same spec about $3k if I remember correctly.

2) You can’t buy a base model currently of course, and unless I’m doing something wrong the absolute cheapest 2D 7MT you can build new on Ford.com comes in around $42k

3) I’m located in Minneapolis, MN and there is only 2 new/1 used 2D 7MT in the entire area (within 50 miles): the cheapest and only used one is a 2022 Badlands non-SAS 7MT with 15k miles asking $42.5k. Within 250 miles there is one 2022 Big Bend with nearly 30k miles listed at $3

4) KBB, which I don’t trust is accurate at all especially in this scenario, is spitting out $39k trade and $41k+ private party.

Where should I value this thing as far as trade/private party? Whats it REALLY worth?

Just for grins, checked used value for my 2dr Badlands non-Sas 2.7. I'm at 27,650 miles or so. Leather, towing, high package are my options.

KBB (used 'Good' to be conservative): 38,800 trade, 45,200 private sale
CarMax (had to go in for them to estimate): 34,000 trade... LOL

Sticker when I bought in Aug 2023 was 59,270 w/ dest.

If you want to maintain any value, doesn't look like 2-dr is the way to go. Somewhat expected based on take rate vs 4-dr. Still a pisser.

 

[Bronco_Nole]

Just for grins, checked used value for my 2dr Badlands non-Sas 2.7. I'm at 27,650 miles or so. Leather, towing, high package are my options.

KBB (used 'Good' to be conservative): 38,800 trade, 45,200 private sale
CarMax (had to go in for them to estimate): 34,000 trade... LOL

Sticker when I bought in Aug 2023 was 59,270 w/ dest.

If you want to maintain any value, doesn't look like 2-dr is the way to go. Somewhat expected based on take rate vs 4-dr. Still a pisser.

Oddly my 2D base 7Spd manual no options 4,500 miles said $39,500 trade and $42,500 private party on KBB. I did the “Cash Offer” option on KBB and it came out $24,500. Had 2 dealers where I was working a trade on a new truck offer me $25k and was pretty shocked and confused.

Pretty stoked like I mentioned to get $35k from my go to dealer, I feel like that’s a top price considering the market, in a month I’m afraid values may drop even more so I didn’t hesitate. I’m sure they’ll list it for $41-42k and get close to $40k on it which hey, they’ve got to make some money. Tough market right now especially with rates!

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