Used Super Duty prices- what goes up must come down-- significant downward movement in used prices

[GON]

Although I am not trying to sell any of the three Super Dutys' I own, I check used vehicle auction prices from time to time.

Seeing a very significant drop in used Ford Super Duty prices.

If one is in the market for a used Super Duty, especially a later model Super Duty--- shop hard and long. The spread between current late model Super Duty auction prices and dealer listed late model used Super prices is low five figures on many trucks.

 

[CarbonToast]

In the same vein, I have noticed 2015+ F150 prices seem to be coming down. Granted, the oldest are 10 years old. The 100k-200k mile trucks on Facebook are now <$15k. (These are the basic XLT trims)

 

[andrew_j]

Imagine being a sucker who financed then and over paid for one and needing to change up.

 

[billt460]

Imagine being a sucker who financed then and over paid for one and needing to change up.

It is worse today than ever before. Over 25% of car loans in this country, are currently underwater. Depreciation on new vehicles is bad enough. But when it is made even worse by insufficient down payments, it can become economically downright dangerous.

A lot of this is the fault of the lenders, loaning money to people who have no business borrowing so much in the first place. This was a large part of the 2008 housing debacle, where the idiots were running the asylum.

 

[SC Maintenance]

I have been looking at used vehicles for a year - mostly 10+ years old. Mostly online but occasionally I go look at one, I definitely need to buy another (or three). Prices are definitely coming down on the older stuff. Older luxury has always been cheaper, but are suddenly falling like a rock around here - even Lexus.

Nissan's also but there current financial health is likely contributing.

The Honda / Toyota crowd seem to continue to insist on over-paying, those haven't budged. I look at used current Gen Rav4's. Comparable to our current 2019, there pretty much same price I paid 6 years ago. I realize inflation but its still crazy.

 

[Dave Hess]

Yep.

I’ve also looked at used cars and they are asking crazy prices for a 4 year old Honda / Toyota with 50K miles.

 

[Elkins45]

Yep.

I’ve also looked at used cars and they are asking crazy prices for a 4 year old Honda / Toyota with 50K miles.

That’s because they are asking even crazier prices for the new ones.

I’m a lifelong Toyota guy but it’s doubtful I’ll ever own another one unless it’s well used.

 

[fantastic]

If I ever rid of my 07', highly unlikely, I'd go straight for a 2017+. Any years previously I'd just be getting the same frame. All new frame, side airbags, & aluminum metal seem to be great attributes. Honestly, the more I think about it I'd probably just go straight to a dually 7.3L gasoline so that would need to be 2020+ w/10 speed. Ah, glad I'm not in the market.

 

[ElectroMechanoMan]

I bought a 2016 F150 with 6000 miles in Oct 2017. $ 29,000 and it has never had any problems. It has 89000 miles on it now and is in excellent condition. Very little rust on the frame. I added overload springs and the driver’s seat was starting to tear so I had them recovered with leather and heated. I’m confident that the truck will be in service for another 10 years. It is an XL model because I use it for a working vehicle.

 

[panthermike]

Hope it's a trend for others! I've been truck shopping for a while now and am always shocked by the prices and the (lack) of features you get for the price. Drove an F150 yesterday that stickered for 58k and walked thinking it was just "ok". Had some features that I liked but lacking others that seemed like a no brainer.

 

[ElectroMechanoMan]

One of the other things I added to my truck is a bed slide. My future son in law works for a company that sells Chevy truck accessories and it was being discontinued. He bought it and gave it to me for Christmas. I had to modify the frame to fit my truck, but have it installed and it works great! It’s nice to be able to load stuff and not have to crawl into the bed to get it out.

 

[CKN]

Imagine being a sucker who financed then and over paid for one and needing to change up.

Most need to finance a new truck. Over paying-is another issue.

 

[CKN]

Hope it's a trend for others! I've been truck shopping for a while now and am always shocked by the prices and the (lack) of features you get for the price. Drove an F150 yesterday that stickered for 58k and walked thinking it was just "ok". Had some features that I liked but lacking others that seemed like a no brainer.

So-what model?

 

[rijndael]

I’ve also looked at used cars and they are asking crazy prices for a 4 year old Honda / Toyota with 50K miles.

That's also my experience. I have a new driver in the house and I just bought a used 2015 CX5, with 65K miles, for $13.9K.

 

[Rmay635703]

On the original topic the cheapest full size truck in some cases is a Silverado EV, with a handful of new untitled marked down to $48k

A lot of this is the fault of the lenders, loaning money to people who have no business borrowing so much in the first place. This was a large part of the 2008 housing debacle, where the idiots were running the asylum.

Auto makers overcharging putting a generation of people underwater also creates a self fulfilling prophecy, no entry level cars always creates a crash a few years later because it starves the system.

Also In lenders defense 25% of the population is making less “real world” money today than in 2023. Likely was very foolish to think gains were permanent but that isn’t how lending works these days. Heck we still treat housing as though it never looses value

So Folks who could pay by the numbers had an unwanted change in life, while still being fully employed and the trend is accelerating.
Even looking at restaurants, many restaurants and staff have had income drop nearly by half in the last year or so.

We are strongly punching down at the moment.

Add to this 100’s of bank local branches are being closed due to profitability this last month and a half. In my area every other building has been a bank so god only knows why they still have more being built.

 

[panthermike]

So-what model?

Didn't want to delve off topic but it was an XLT w/ extra equipment group. Honestly the SR5 Tundra I drove felt a lot more "premium" despite similar options.

 

[johnmyster]

If one is in the market for a used Super Duty, especially a later model Super Duty--- shop hard and long. The spread between current late model Super Duty auction prices and dealer listed late model used Super prices is low five figures on many trucks.

Imagine being a used truck dealer and wanting to have trucks available for customers. But you buy them at auction and between them being chronically undermaintained/neglected, $200+ shop rates, parts unavailability, and diesel (if diesel) emissions systems, you take a pretty big risk on getting it ready to list and that "30 day warranty."

The diesel truck market (oems, mechanics, aftermarket, dealers, etc.) slit its own throat by treating their customers like money trees AND by not standing up to ever restrictive regulations. Good enough has to be be good enough at some point.

Used car dealers are like real estate agents. They believe the world owes them a salary for churning the world's inventory of tangible possessions from one fool who requires some financing scheme to "own" the item to the next. Their services do not add value to the product so there's a limited ability for them to "hide" their overhead before the market collapses...even more so on depreciating assets vs appreciating ones.