Resale value for the F150L Platinum

[SmoothJ]

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.

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[Deleted member 21405]

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.

Generally speaking the higher the trim level the higher the depreciation (as a percentage). Assuming you paid about $90k for a platinum and it’s worth ~$40k now , it’s depreciated about 55%. I have a 2022 XLT with 35,000 miles and estimates are about $30k and I paid $52k after rebate, for a depreciation % of about 42%. Generally see the same thing in other brands too. The higher end stuff takes the biggest hits. Mercedes S Class or BMW 7 Series get hammered too relative to less expensive models. Thankfully it’s paid for, I’m keeping it and I don’t care, but I feel your pain.

 

[TwentyTwentyThree]

If you want a car with little depreciation, buy a base model Corolla. Everything else depreciates heavily.

 

[SmoothJ]

If you want a car with little depreciation, buy a base model Corolla. Everything else depreciates heavily.

If Corolla came in a EV, sure. I don’t want to go back to a ICE anytime soon.

 

[SmoothJ]

Generally speaking the higher the trim level the higher the depreciation (as a percentage). Assuming you paid about $90k for a platinum and it’s worth ~$40k now , it’s depreciated about 55%. I have a 2022 XLT with 35,000 miles and estimates are about $30k and I paid $52k after rebate, for a depreciation % of about 42%. Generally see the same thing in other brands too. The higher end stuff takes the biggest hits. Mercedes S Class or BMW 7 Series get hammered too relative to less expensive models. Thankfully it’s paid for, I’m keeping it and I don’t care, but I feel your pain.

Given the current amount of depreciation, could you predict what the vehicle will be in X years? I know it’s hard to predict the future, but is there a standardized formula ?

 

[Deleted member 21405]

Given the current amount of depreciation, could you predict what the vehicle will be in X years? I know it’s hard to predict the future, but is there a standardized formula ?

Not really. But the biggest hits are likely In the rearview.

 

[sysop1]

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.

But you can agree it's fun to drive!

 

[flyct]

Back when the 2022s were being sold EV prices were high. I bought 2 2023 Tesla Model Y’s, one Dec 22 and another in Feb 23. After price reductions and tax credits the 2nd one cost me $21,000 less than the first one so I took over a $21k depreciation in about a month.

I bought a 2023 Loaded Lightning Lariat ER that Ford “ re-invoiced” in Summer of 2023 by lowering the MSRP $10,000 to $79k, plus dealer discount of $2,500, Ford rebate of $7,500, PCO of $750 and a $7,500 tax credit. So it cost me $60,650 +++. I sold it 18 months later for $50,000.

Prices were all over the place at that time.

 

[MountainAlive]

It does seem like most of the used ER Lightnings that I see lately are in the $40-45k range right now regardless of trim (with miles under 50k). I do wonder what used prices will do now with all the trucks coming off lease and it being discontinued.

 

[RickLightning]

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.

To see the impact of the announcement, you need to have the value before and after the announcement. I did.

 

[Teledatageek]

I'm looking at trading my Lariat in at a Honda dealer (have a Rivian R1T and no longer need the Lightning). The comments back from some of these dealers is fascinating - e.g. - "demand is low because Ford discontinued, etc." A few have outright said they don't want the Lightning as a trade. I realize this could be a Honda dealer thing, but not something i have ever experienced before.

Carvana quote though has risen since I had them quote a couple of months ago - so who knows... Not enough so that selling to them is better than a trade (NYS gives sales tax credit).

Trade numbers range from $45K to $48K so far on an $80K 2024 Lariat with 14K miles. I thought the ProPower option would have an impact, but think it means nothing on a trade...... I went to a dealer 400 miles away to buy the Lightning as that option was a requirement for me at the time.

 

[Grumpy2]

I am upside down well over $20K on this truck,

In the short term, it may be a good idea to investigate replacement insurance in case of an accident

 

[Theredshift]

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.

I totally feel you. Im 56 and i just got to the point that, now i still haggle price and always will lol, but i buy if i like it and think it will last and dont put much thought into resale due to everything not holding value. If it fits my need. I dont trade alot on vehicles so that is why i dont worry about holding value as much. But i i get it

 

[arachnoyes]

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.

The biggest depreciation is as you sign the paper!

 

[Pod]

Looks like my 2023 XLT would fetch just shy of 40k in this area. is the dual charger a feature worth holding on to? Honestly, this finance deal got me thinking about a lariat.

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