Used Value Dropping Fast

[voxel]

If Ford doesn't cut production they will have the same situation as Jeep with their Wranglers, Grand Cherokees, Gladiators where they will have to incentivize on lot vehicles by $12K and used prices have collapsed (my GC has lost $20K in value in a year - which is fine in my situation because I traded in a Model Y at peak value).

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[C-Note]

Maybe a glut in production means a vacation Bronco rental for our trip to the Keys this spring….

 

[HeliPilot]

All values are normalizing. Hertz is selling off a fleet of Tesla’s with prices ranging from $22-30k.

 

[Bigfx]

What? Like…what? They do determine the market bc that’s what people base their value of the commodity. Man some of yall are way too deep into the cope of being ripped off. We all paid too much period whether you keep it or don’t you got ripped off if you keep it forever it will break down bc it’s a ford and if you trade it in now then you will lose 25-30 percent of the original value and whatever adm you paid to be in the cool club. This is a vehicle not a bar of gold

 

[ozark_stang]

yes new ones are on lots for thousands under MSRP. which just tanks value of used. it's about time.

I would say the fact that someone with a 750 fico score wanting to buy a used one getting hit with 15% interest and new ones getting hit with 9%+ has more to do with it than what Mr and Mrs Customer thinks its worth. The only thing effecting the value of Bronco is government mandated interest rates. If you consider that a success this year then you are a part of the problem.

 

[voxel]

I would say the fact that someone with a 750 fico score wanting to buy a used one getting hit with 15% interest and new ones getting hit with 9%+ has more to do with it than what Mr and Mrs Customer thinks its worth. The only thing effecting the value of Bronco is government mandated interest rates. If you consider that a success this year then you are a part of the problem.

Pay cash.

This country is too addicted to debt.

 

[ozark_stang]

Pay cash.

This country is too addicted to debt.

Something you might be missing is some folks money is making them 20%+ where its sitting working for them. A quality interest rate from a lender on a vehicle still makes more sense for folks like that to use the banks money rather than their own But some folks don't have anything but a middle finger for anything over a 2.9 or a 4.9 and damn sure not signing onto a 8%+ contract because the white house says so regardless of how bad they want a Bronco or how many are available to choose from

 

[FordFamily4Fun]

If Ford doesn't cut production they will have the same situation as Jeep with their Wranglers, Grand Cherokees, Gladiators where they will have to incentivize on lot vehicles by $12K and used prices have collapsed (my GC has lost $20K in value in a year - which is fine in my situation because I traded in a Model Y at peak value).

The Jeep JL is purposely marketed at a ridiculous MSRP with huge profit margin built in because it was the only game in town. The Bronco should change that a little, but still only one competitor. This gives Jeep dealers the ability to offer steep discounts on the JL when the economy is bad and when the economy improves they pull back on the discounts on the ridiculous MSRP. They have gotten away with this for a long time because used prices have been very high too as the only game in town. The Grand Cherokee has a ton of competition in one of the most purchased vehicle segments and is very, very old in the tooth. I think this gen. has been around about 13 years. Not surprised nobody is buying new and they are losing value fast until a new generation comes out.

 

[MJRedBend]

I guess it doesn’t matter too much at this point. Ford set my buyout at the end of my lease if it’s underwater at lease end, it’s not my problem.

If my truck wasn’t underwater, I could consider terminating the lease early or buying it out.

Sounds like your situation is similar to mine. My plan is still to buy mine out but lately I’m just wondering what my other options look like. I love my Bronco except for two things: I cannot get my hands on a hard top and I don’t have aux switches (don’t even know where my head was with that one). I don’t want to bother with aux switches unless I keep it. Also since Ford won’t be selling tops anytime soon and aftermarket ones are going for over $6000, I feel like giving it all up and going back to an F150. I get it, it’s a piece of metal, but giving it up at lease end will definitely hurt.

 

[JediMcMuffin]

The Jeep JL is purposely marketed at a ridiculous MSRP with huge profit margin built in because it was the only game in town. The Bronco should change that a little, but still only one competitor. This gives Jeep dealers the ability to offer steep discounts on the JL when the economy is bad and when the economy improves they pull back on the discounts on the ridiculous MSRP. They have gotten away with this for a long time because used prices have been very high too as the only game in town. The Grand Cherokee has a ton of competition in one of the most purchased vehicle segments and is very, very old in the tooth. I think this gen. has been around about 13 years. Not surprised nobody is buying new and they are losing value fast until a new generation comes out.

Yeah I'm kind of surprised all these people are pouncing on Gladiators right now. If something gets that heavy a discount, it was absurdly overpriced to begin with.

reality for me, is that based one what I'm doing with it the bronco is too small. im about to switch to a hardtop and eventually a roof rack and some storage boxes. if that doesn't displace enough gear to allow my wife and son to join me and my daughter in the cabin, i'm going to have to change things up. im hoping by the time i get to that decision the Landcruiser has been on the market for 3 years and the tundra prices have become more obtainable. we'll see where we end up, i don't want to leave the bronco behind.

 

[Tricky Mike]

If Ford doesn't cut production

Didn't they just add a 3rd shift?

 

[vrtical]

Didn't they just add a 3rd shift?

yeah for Ranger and retail stock production...

 

[tourproto]

It’s disastrous for people who paid adm and have 84 month loans and need or want to get out of them.

If they weren't buying the Bronco as a keeper, they should have done a lease. At least that has a known exit point. Even with ADM.

If "life changes" are forcing them to have to give up the Bronco, they made a bad mistake buying a $50K vehicle in the first place.

Pay cash.

This country is too addicted to debt.

Our last 4 cars were all purchased with cash. When we were first married we put $200/month into a new car fund (that grew to $400 a month until about 6-7 years ago). Doesn’t seem like much but we keep our cars a long time. (Other than Bronco our other cars are 11 and 20 years old this year).

After around 10 years, we had more than enough to buy what we wanted (at the time).

People can do whatever they want with their money. If you want to have credit debt, go for it. For me and my wife, we chose to not waste it on interest and were willing to wait (and save our money) until we could pay for whatever the item was in full.

I never felt the need to pad the profits of banks and credit card companies just to have some shiny new object.

sorry for the rant.

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