2023 LER Lariat - Trade-In Value Reference Point

[VAF84]

Some of you may know that I'm now a month into waiting for a fix for my LER. Currently initiated a buy back and undecided whether I will buy another LER since there are deals to be had, or go back to gas. Anyway, to speed up the process as I really need a vehicle before I head back to Texas, I thought there might be decent value; so I requested a trade-in value for this one in exchange for an exact replica but with retractable steps. Trade-in value was assessed at $45,000. Needless to say it's either buy back, or keep it, for me. Also lends a little more hesitance to replacing it with another LER if there's a good chance I'll swap in 3-5 years.

Unfortunately, I feel this will continue to place downward pressure on LER values. I have no clue how GM plans to sell a bunch of six figure Silverado EV's.

2023 Ford Lightning Lariat ER
Star White Metallic
Purchased 12/23
Miles: 8,800
Great condition...minus waiting on a coolant valve that is on national backorder.
Trade offer in S. Indiana $45,000 at a large Ford dealer.

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[mr.Magoo]

It's been one heck of a rollercoaster.
From winning the lottery and being one of the "chosen" to buy in 2022, thinking man was I lucky with the price hike, interest rates and so on.
At this point it's more of a "aw, sh-t, guess ill be keeping this one for a while".

I was already planning on running it into the ground so it doesn't matter to me, plus I like it so I'm not in a rush to jump ship...

But, if you bought it at the peak and you're not happy / looking to get out... I feel for ya.

 

[VAF84]

It's been one heck of a rollercoaster.
From winning the lottery and being one of the "chosen" to buy in 2022, thinking man was I lucky with the price hike, interestcrates and so on.
At this point it's more of a "aw, sh-t, guess ill be keeping this one for a while".

I was already planning on running it into the ground so it doesn't matter to me, plus I like it so I'm not in a rush to jump ship...

But, if you bought it at the peak and you're not happy / looking to get out... I feel for ya.

I definitely feel for those who bought at the top. Luckily I bought in a couple of months ago at about $68k ($7,500 Ford rebate + $,5000 dealer discount), and waiting to see if I got the full $7,500 credit on top of that. Can't complain there. Still $45k seems extremely low for Lariat Extended Range. Resell price at anything under $59k seems like would attract a good amount of buyers.

Besides the point though. Reason I posted it, is because there's no info on trade values. Usually KBB is pretty close, but they couldn't calculate one. Hence, posting as reference point.

 

[cowboys1870]

Carvana offered $43,200 for my ‘22 XLT SR w/24k miles.

 

[rdr854]

Carvana offered $43,200 for my ‘22 XLT SR w/24k miles.

Carvana offered me $49,900 for a 22 Lariat ER with 14,200 miles. KBB‘s Private party value was $52,000. Not hateful for a two model year old truck if you only paid MSRP (which I did).

I learned my lesson on ADM in the 1980s when everyone was trying to buy Honda Accords and Toyota Camrys and having a Honda or Toyota franchise was known a license to steal.

 

[Heliian]

It's like the dealer and carvana want to flip the truck for a higher price and make a quick couple grand.

They are lowballing, it's their business model. If you want actual value you have to sell it yourself.

 

[monsterlag]

Adj MMR for 2023 Lariat is at $52k(what dealers pay each other in auctions). Wholesale market doesn’t value ER or SR differently. The valuation your dealer seems to be in line after accounting for their profit.

 

[Artificial Intelligence]

Some of you may know that I'm now a month into waiting for a fix for my LER. Currently initiated a buy back and undecided whether I will buy another LER since there are deals to be had, or go back to gas. Anyway, to speed up the process as I really need a vehicle before I head back to Texas, I thought there might be decent value; so I requested a trade-in value for this one in exchange for an exact replica but with retractable steps. Trade-in value was assessed at $45,000. Needless to say it's either buy back, or keep it, for me. Also lends a little more hesitance to replacing it with another LER if there's a good chance I'll swap in 3-5 years.

Unfortunately, I feel this will continue to place downward pressure on LER values. I have no clue how GM plans to sell a bunch of six figure Silverado EV's.

2023 Ford Lightning Lariat ER
Star White Metallic
Purchased 12/23
Miles: 8,800
Great condition...minus waiting on a coolant valve that is on national backorder.
Trade offer in S. Indiana $45,000 at a large Ford dealer.

Try carmax they offer best trade in value

 

[VAF84]

Adj MMR for 2023 Lariat is at $52k(what dealers pay each other in auctions). Wholesale market doesn’t value ER or SR differently. The valuation your dealer seems to be in line after accounting for their profit.

That’s more in line with what I was expecting.


I was just seeing if trade was decent option, but as I mentioned, I will be moving forward with either a buyback or a lemon law option. My post is to offer a reference point for others.

 

[vic7780]

Just adding my two cents as a newbie…

just purchased my 2022 Lariat ER for $52k from a dealer in Pennsylvania. private party sales I looked at ranged from 60 to 55 originally.

As I drove it home, I just checked on any others and there prices and saw one listed for $49K w/12k miles

 

[detansinn]

Coming up to a year and more than 22k miles of adventuring with mine. Love it.

Here’s the thing, that initial depreciation hit has always been a thing. Ignore the bizarre pandemic years. The scarcity of cars and trucks has passed. When you buy a new vehicle, it depreciates the moment that you drive it off of the lot. It’s how it always worked. That’s reality.

If you are driving and enjoying it, depreciation doesn’t matter — the longer you hold onto it, the better the math will be for you. These things aren’t investments. They’re transportation and entertainment.

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