Trade value shock

[Pod]

God forbid people talk about the value of their vehicles after a year of ownership. My 2009 Pontiac has a better value on the market than my 1 year old truck that had a $65k MSRP.

This exactly what I’m saying.

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[Smokewagun]

I’ve always been a trade every few years guy. I really have not been so happy with a truck as I am with my Lightning… all things considered. I really plan on running it, which is funny since I never had that aspiration with my ICE trucks. Watching the SOH on the battery not change has me thinking this could be a very dependable truck for several years.

 

[Bills R Electric]

Went to look at an upgrade for my XLT Lightning. Picked it up in January of this year, 12k miles. Local dealer offered $39k in trade. I was insulted. $24,000 drop seems a bit much on my truck.. Curious to see if other dealers have a better offer But who knows.

I think the depreciation on my Lariat LR and your Lightning both has been substantial.

One glimmer of hope is that Ford is throttling new 2024 production, so maybe the depreciation has leveled off a little. Maybe.

 

[SmoothJ]

I tried Driveway, and Carmax - both of which didn't give me a number for my Platinum. Driveway says they need to review, and Carmax says that it needs to see the truck.

 

[GDN]

Definitely did not expect to make money but a trade in at 50% value inside a year seems not right. I would hope Ford values it own product a bit better. Especially early adopters.

Sadly I don't think most of us thought the trade prices would look like this, but Ford corporate did give us the insight. Truly they never pushed or made wildly available the "Options" program like they did for the Mach E. Those that saw the numbers, Ford was only valuing roughly 50% of the price at the end of the period. They painted the picture for us.

 

[Pod]

I’m glad I love my truck. Just thought about the upgrade for leather seats and adaptive cruise. Curious when ’24 roll out how values shift.

 

[RickLightning]

I tried Driveway, and Carmax - both of which didn't give me a number for my Platinum. Driveway says they need to review, and Carmax says that it needs to see the truck.

Carmax always wants to see the vehicle, that is their business model.

Sadly I don't think most of us thought the trade prices would look like this, but Ford corporate did give us the insight. Truly they never pushed or made wildly available the "Options" program like they did for the Mach E. Those that saw the numbers, Ford was only valuing roughly 50% of the price at the end of the period. They painted the picture for us.

Yup.

 

[Dakovich]

22’ Lariat ER, love the truck and at this point I feel pot-commited to the vehicle. Contemplating buying extended warranty and keeping it longer than I had originally anticipated.

 

[ackatack]

Definitely did not expect to make money but a trade in at 50% value inside a year seems not right. I would hope Ford values it own product a bit better. Especially early adopters.

Remember, the dealers are not Ford corporate. They are independent entities looking to make their own money.

 

[GDN]

22’ Lariat ER, love the truck and at this point I feel pot-commited to the vehicle. Contemplating buying extended warranty and keeping it longer than I had originally anticipated.

That is what I've done Just decided I'm in for the long haul. I've got Cybertruck rervations, but now that their specs have come up short and prices are higher, I'm just going to be happy with the Lightning for a few years. Getting access to the Tesla chargers is the one big issue I see in the future with the Lightning, and that will be resolved soon.

For the extended warranty I purchased a few months ago. Look here for Granger. You won't beat their prices. Do not buy this from your local dealer, you'll pay 30 to 50% more than you need to.

 

[shutterbug]

Carmax always wants to see the vehicle, that is their business model.

When I sold them my C-Max, they didn't want to see it.

 

[Smokewagun]

Does the warranty cover the batteries? I mean, really, what else is there, right?

 

[invertedspear]

For the extended warranty I purchased a few months ago. Look here for Granger. You won't beat their prices. Do not buy this from your local dealer, you'll pay 30 to 50% more than you need to.

If you have a decent relationship with your dealer, go get your quote from Granger, and give them a chance. They absolutely can match Granger. I got them to by just repeating "I will only pay $x for this warranty" The finance guy went back and forth with me on it forever, even did up the paperwork without it, then caved and re-did all the paperwork. They can sell it for that price, but it likely results in them getting next to no bonus, so not worth their time unless they care about you as a customer.

 

[GDN]

If you have a decent relationship with your dealer, go get your quote from Granger, and give them a chance. They absolutely can match Granger. I got them to by just repeating "I will only pay $x for this warranty" The finance guy went back and forth with me on it forever, even did up the paperwork without it, then caved and re-did all the paperwork. They can sell it for that price, but it likely results in them getting next to no bonus, so not worth their time unless they care about you as a customer.

Why do you reward your dealer for treating you like that? I'm done with that kind of BS in today's world. I will go WAY out of my way to avoid being treated like BS. I won't and I hope most others here won't either. If your dealer isn't willing to shoot straight with you, take your business else where. Some people enjoy the process of dickering and being treated like you don't know what you're doing. So I'm OK if you do, but you just reward them for treating you badly.

Granger is the way to go. Or Flood. They both do well on the extended warranties.

 

[invertedspear]

Why do you reward your dealer for treating you like that?

For me it wasn't about the enjoyment or anything else. When they acquiesced to my price, it was better for me to have it rolled into the loan than to pay cash for it.

If you do have a good relationship, and they don't screw you around like this, I don't see why you wouldn't give them at least a chance to match the other offer. All I was doing was pointing out that you can get that price from your local dealer, if you feel inclined to give them a chance.

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