Resale value for the F150L Platinum

[Bestword57]

It's all in the court of public opinion. It wasn't long ago when people would buy Lightnings at MSRP and sell them for over $100K.

As an example, my old Chevy Volt keeps bouncing up and down in value (I get emails all the time from Carvana) depending on the above-mentioned public opinion. This opinion drives what sells, and Ford and others are finding this out much to their chagrin.

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[SmoothJ]

It's all in the court of public opinion. It wasn't long ago when people would buy Lightnings at MSRP and sell them for over $100K.

As an example, my old Chevy Volt keeps bouncing up and down in value (I get emails all the time from Carvana) depending on the above-mentioned public opinion. This opinion drives what sells, and Ford and others are finding this out much to their chagrin.

I agree it’s all public opinion based, and if it wasn’t for loosing my job soon I wouldn’t be looking at this. The job market is terrible at the moment, so it’s difficult to predict the future. However I don’t want to make any assumptions or rash predictions to just get another vehicle.

Based on Gemini, the LLM predicts at the end of my loan, the truck will have a value of ~19K. Keep in mind this is around 2029, so take that with a grain of salt. However it might be nearly accurate considering the other trucks too.

 

[bc1]

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.

 

[nanohead]

I don't think the resale value has much to do with the "cancellation". Resale values for these trucks cratered a long time ago.... My $82K 23 XLT ER had a trade in quoted of $41K quoted to me 6 months ago.

Its a niche product that has a loyal following, but its not a volume product by any stretch of the imagination.

 

[Victorog]

I own a 2023 Platinum, paid MSRP $93k - $15k discount so paid $78k. With 31k miles on it at the moment, honestly i am not surprised due to the fact that it is an electric vehicle. I have just decided not to check on the depreciation. I will keep driving it till the wheels fall off and let the future determine what happens. I love the truck so that's my only compensation.

 

[nanohead]

Yeah, same. Not sure what all the hysteria about the Lightnings cancellation is about actually.

Cars get announced and cancelled all the time, for like... 100 years. Love the Lightning, but whether its actively sold or not, doesn't matter to me. Its not my human identity, its a pickup truck.

I know some people obsess over vehicle depreciation, but its not in anyone's control. Values go up and down based on a variety of factors, and no single thing controls it other than occasionally supply and demand.

 

[TwentyTwentyThree]

I am a bit perplexed about how some are treating a daily driver as an investment. You’re treating a used pick up truck like s&p 500. It’s not the same.

 

[WXman]

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.

This has been the case from day 1. Has nothing to do with Ford's announcement. EV resale values fall like rocks dropped from an airplane the day you drive them off the lot. That's why you LEASE electric vehicles. If you "buy", you will either take a bath on it at time of trade-in or you will take a bath on it at time of replacing powertrain components when it's out of warranty, one of the two. These EVs are literally rolling computers. They will be outdated quickly for the next new thing and therefore they will never retain value.

 

[mr.Magoo]

This has been the case from day 1.

Well, from Day 1 the outlook was great, even the first year it wasn't terrible, but then came a bunch of incentives and why should anyone buy used for 55 when they can get a new one (Lariat, same spec and everything) for 60K.

It is what it is and all that, but I think the Lightning resale/residuals was hurt a bit extra by the heavy discounts so it's not all down to a computer on wheels.


Here's my trade from Ford.com (22 Lariat with 29,000 miles) towards a new Platinum and while we keep touting the savings of EV vs. ICE it probably doesn't make up for a montly depriciation of $1,200 - and yes, you're absolutley right - if you plan on owning it for anything less than 5 years, just lease it.

But, then again, it makes it all that much easier to continue with the "plan" of driving it until it dies, and if I were to get a new/another vehicle anytime soon it'll more likely be a summer toy.

 

[RLXXI]

This has been the case from day 1. Has nothing to do with Ford's announcement. EV resale values fall like rocks dropped from an airplane the day you drive them off the lot. That's why you LEASE electric vehicles. If you "buy", you will either take a bath on it at time of trade-in or you will take a bath on it at time of replacing powertrain components when it's out of warranty, one of the two. These EVs are literally rolling computers. They will be outdated quickly for the next new thing and therefore they will never retain value.

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.

 

[Landscaper]

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.

Pretty much the case for any car these days. Tech heavy all around which can become obsolete quickly

 

[flabrent]

Instead of moping around about the resale value of the Lightning, I'm just glad I didn't get the crazy idea of buying a cybertruck. I can only imagine how much those things have dropped in value.

 

[mr.Magoo]

I'm just glad I didn't get the crazy idea of buying a cybertruck.

OMG I was wrong !!!
I got curious by your statment on Cybertruk resale and started searching and stumbled upon this.... https://www.ebay.com/itm/116926279586

I was always of the opinion that the Cyber Truck is so god awful ugly that anything you do to it is going to be an improvement... but I was wrong, you can actually make it worse.

 

[BigLeagueChoo]

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.

 

[BigLeagueChoo]

Also, in saying the above - hindsight is always 20/20.

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