bgalakazam
Well-known member
I was thinking of selling… used and new trucks overseas are so few and way overpriced. I can definitelly at least break even. But i got the truck i wanted so i rather keep.
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I have a 2021 xlt rcsb Fx4 and Car Max offered me above what the window sticker was on mine. I wanted to jump on it but dont know if or when I could get another RCSBGiven the incoming "shortage" of trucks from the shutdown and chip shortage, is the resale value of recently purchased F-150's going to be higher than your typical depreciation or is the shortage not really going to affect anything?
Honda and Toyota have a strong resale valueIMO since WWII until the last ~24 months there's not been a time when both new and used inventory have been so limited. That means there's no long term history for the market (demand vs supply) situation as it stands now and 'historic' notions abut resale prices simply don't apply.
Even the '24-month' trends are now shifting due to rising interest rates. Methinks all of this has the potential to change again with little if any advance warning. IMO all that combines to make long-term planning or predictions extremely difficult and essentially 'un-bankable'.
As an example, I sold my one-owner 2019 Honda Ridgeline RTL-E (a great truck BTW, just not capable of my towing requirements) this spring, when local inventories for everything were very limited and interest rates were still very low. No great foresight or crystal ball, it was just a convenient time to liquidate that in anticipation of receiving my new Lariat and Granger Ford had already advised I could probably do better selling in my 'Honda friendly' Austin, TX market than trading to them in Iowa where Ridgeline's aren't so popular.
I got a quote from CarMax and then sold to a local Chevy dealer advertising "We pay $500 above any CarMax offer". I recovered:
So 3 years of daily driving the Ridgeline cost me gas and oil, period, which is stunning to me compared to 'historic' experience. I'd never experienced a vehicle appreciating in value, ever (not a 'specialty / classic' vehicle by any means). I'd obviously have done even better if I'd bothered to sell it to an end-user myself (I didn't want the hassle).
- The full original drive-out price (including original TT&L and dealer fees)
- The loan interest I'd paid (it was paid-off before I sold it)
- The cost of my comprehensive insurance for the term of ownership
IMO that was a 'luck of timing' situation, I doubt I'd do as well at this moment given interest hikes which have slightly softened the seller's market.
It's a crazy world out there these days, IMO better to be a seller than a buyer for the time-being, but that could change at the drop of a hat.
Personally I don't think F150's hold, or will hold, any 'special standing' in any of this; I think the overall supply / demand / and money availability will rule for all vehicles.