Resale value for the F150L Platinum

[jimfigler]

So with the most recent annoucement, I was curious what the resale values of these trucks would be. So I checked a number of sites, and I am shocked....

For reference, my MY is a 2022 and the miles are 38,284.

Car and Driver (dealer website): $35,280–$43,230
Tesla: $38,700
Randon Chevy Dealer: $41,000
Carvana: $37,400

I know that trucks or certain vehicles don't maintain their value. However, this is catastrophic IMHO. I am upside down well over $20K on this truck, and I paid MSRP with some down payment (no sales tax too). Also keep in mind that this is a Platinum version, so it will be worse for the other trims.

Resale was like this long before the release of the news last week. I'm really confused on why you are shocked

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[bc1]

Definitely a weird place to be right now, owning a Platinum Lightning. I had negotiated mine from $87,190 msrp down to $78,950 back in early September. Thought I had the deal of the century considering I still got the 0%, 0 down, no payment window and I had them "throw-in" a spare tire and mobile drip charger, all on top of the free charger and install.

Now, I could get the same truck for $69,000 out the door. The prices are falling fast but if I was in the green on a Lariat or Flash I might consider swapping to a new Lightning for not that much additional out of pocket cost per month.

So did you get the 7500 ev tax credit to bring that down to 71,450 or does the 78,950 already have the ev credit taken off?

 

[BigLeagueChoo]

So did you get the 7500 ev tax credit to bring that down to 71,450 or does the 78,950 already have the ev credit taken off?

There was no EV tax credit for any vehicle over $80k msrp even if you bought it for under $80k. Msrp has to be $79,999 or less.

 

[RickLightning]

There was no EV tax credit for any vehicle over $80k msrp even if you bought it for under $80k. Msrp has to be $79,999 or less.

$80,000 or less, excluding destination fee.

 

[BigLeagueChoo]

$80,000 or less, excluding destination fee.

didn’t know that about destination fee!

 

[flyct]

mentioned

didn’t know that about destination fee!

My 2023 had a bottom line MSRP of $81,840. Before Destination fee it was $79,845. I collected the $7,500 tax credit on that truck.

 

[WXman]

It's no different for ice trucks except more modules in the ev.

These things have been rolling multiplexed networks since before I left the dealer 21 years ago.

It's very different for ICE trucks.

Case in point: I currently hold two leases. Sale price on both was identical. But the ICE 4x4 has a MUCH higher residual value at end of lease than the EV 4x4.

And just go look at the prices of 3 year old ICE pickup trucks and SUVs, and then compare that to the price of the same trucks in EV fashion. It's not even close. A fully loaded 2023 F-150 with a 5.0 V8 is selling for over $50k. But you can buy a Lightning Lariat for $35k all day long.

If you throw in diesel powered trucks it's even more lopsided. A diesel F-250 retains TONS of value years down the road. Even with 100k miles on the clock a 7 year old diesel truck will sell for more than a 3 year old Lightning Lariat with 20k on the clock.

 

[RLXXI]

It's very different for ICE trucks.

Case in point: I currently hold two leases. Sale price on both was identical. But the ICE 4x4 has a MUCH higher residual value at end of lease than the EV 4x4.

And just go look at the prices of 3 year old ICE pickup trucks and SUVs, and then compare that to the price of the same trucks in EV fashion. It's not even close. A fully loaded 2023 F-150 with a 5.0 V8 is selling for over $50k. But you can buy a Lightning Lariat for $35k all day long.

If you throw in diesel powered trucks it's even more lopsided. A diesel F-250 retains TONS of value years down the road. Even with 100k miles on the clock a 7 year old diesel truck will sell for more than a 3 year old Lightning Lariat with 20k on the clock.

My statement has nothing to do with any of that. My statement has everything to do with the electronics on board, nothing else.

No clue how you took what I said any other way.

I made no claims of value residual or otherwise.

 

[SmoothJ]

I just found a story about this as well:

https://www.autoevolution.com/news/...iles-refused-to-let-it-go-for-51k-263054.html

 

[bc1]

I just found a story about this as well:

https://www.autoevolution.com/news/...iles-refused-to-let-it-go-for-51k-263054.html

Maybe he shouldn't have got a Red one.

 

[flyct]

Maybe he shouldn't have got a Red one.

First, he paid too much for the 2024 Platinum Lightning. Socond, Red for sure is a slow seller with trucks.

Back between 2022-2024 I was ordering F-450s and flipping them after 6 months. At that time they were very hard to find on dealer lots and dealer inventory was slim. In fact I had an order for a 2022 F-450 Limited that was never built and it rolled to a 2023 and then a 2024 order. Ford eventually cancelled the 2+ year old order and gave me a coupon for $8000 towards a new truck I ordered 2 identical 2024 Red F-450 platinums which were eventually delivered. My previous 2022 White King Ranch was much easier to sell.

 

[kfcraigie]

I'm not sure I'd be worried about miles on a battery except to know if it may need new tires, brakes, etc. I get tires at Sams but may consider Discount Tire. Brakes I order from Rock Auto and put on myself. I'd worry more about the location and climate (cold or hot or moderate) that the vehicle battery has been maintained in as well as the particular owner's charging habits. Mileage depreciation still applies to wear and tear on the other parts of the vehicle but some also depends upon age as well.

For example if I had a choice of buying a used 2023 with 50,000 miles and one equipped the same with 250,000 miles with a price depreciation for the miles I wouldn't be afraid to buy the high mileage one with high enough price reduction that someone placed on it based upon so called mileage depreciation as if it was a gas engine.

Agreed. Just picked up a 22 Lariat with close to 100k miles for $34k. Carfax showed the truck was repo'd, but the 1 owner kept it pristine inside and out (sincere thank you if you're reading this). Genuinely feel for those underwater on these. I'm grateful tho - personally there's no way I could've afforded this until now, and my RAM trade in covered enough to justify making the trade.
Getting a Ford pre-purchase inspection tomorrow to check battery health, etc before 7 day return window is up. Willing to be the guinea pig for the next 100k miles out of warranty.
First EV for me, recent oil/gas prices are what pushed me to make the swap. Had also been looking at a Generac for the house recently, too expensive. Now this solves both problems.

 

[rdr854]

Carvana just offered me $41,000 for a 2022 Lariat ER with 21,725 miles.

 

[MountainAlive]

Agreed. Just picked up a 22 Lariat with close to 100k miles for $34k. Carfax showed the truck was repo'd, but the 1 owner kept it pristine inside and out (sincere thank you if you're reading this). Genuinely feel for those underwater on these. I'm grateful tho - personally there's no way I could've afforded this until now, and my RAM trade in covered enough to justify making the trade.
Getting a Ford pre-purchase inspection tomorrow to check battery health, etc before 7 day return window is up. Willing to be the guinea pig for the next 100k miles out of warranty.
First EV for me, recent oil/gas prices are what pushed me to make the swap. Had also been looking at a Generac for the house recently, too expensive. Now this solves both problems.

Keep us posted on how the journey goes!

 

[BigLeagueChoo]

Agreed. Just picked up a 22 Lariat with close to 100k miles for $34k. Carfax showed the truck was repo'd, but the 1 owner kept it pristine inside and out (sincere thank you if you're reading this). Genuinely feel for those underwater on these. I'm grateful tho - personally there's no way I could've afforded this until now, and my RAM trade in covered enough to justify making the trade.
Getting a Ford pre-purchase inspection tomorrow to check battery health, etc before 7 day return window is up. Willing to be the guinea pig for the next 100k miles out of warranty.
First EV for me, recent oil/gas prices are what pushed me to make the swap. Had also been looking at a Generac for the house recently, too expensive. Now this solves both problems.

welcome and you sound exactly like me in terms of how you got here......just with a much lower monthly payment LOL

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