Auction Prices

The used vehicle market is absolutely INSANE. It won't get any better until manufacturers are able to re-stock new inventory, which will hopefully be in the 3rd quarter, if not 4th.

Below is a screenshot of the madness I'm witnessing. This is a 2018 F-150 Crew Cab Platinum 4x4 with just under 33,000 miles. It's a one owner, no accident, no story, etc truck. It has a condition report of 4.3/5, which translates to about $500 of needed reconditioning.

MMR, or average auction price for this truck is $48,500 (which is insane). NADA Clean Trade-In Value is $48,300. The average price listed on Cars.com and Cargurus.com is $46,214/46,688. So yes, the average auction price is $2,000 higher than the average selling price.

This sold to Bill Knight Ford in OKC for $51,500. On top of that, they will have to pay a $425 auction fee, and between $300-350 to ship it from KC to OKC. So before they recondition it, they will own it for almost $52,500.

When this truck was new, it had an original MSRP of $65,315 and a dealer cost of $58,930.28. Then there were at least $1,000 in rebates, if not $2,500. So worse case, you could've purchased this truck for $58,000 or so....3 years ago.

Pretty wicked.

Timing works out well, Rachel's dad called me and wants to sell the Ranger I gave to him. He said he would give me the money from it lol.

You are right, the used market is absurd!

In-laws just bought (at an estate auction) an ‘18 XLT (pretty low on options) with a 5.5’ box and the 2.7 with around 45,000 miles for 25,000.

They’ll be happy to know that what seemed like a fair price is actually pretty solid considering the market.

So would be best time to actually sell a use car, wait, and buy a new one?

Wooooooooooooow!

That is crazy and very interesting insight into your world.

Crazy. They aren't that bad here in Michigan. Perhaps it's time to check up north?

2019 Platinum Black, one owner, no accidents with 40k miles for $40,900.

2017 Platinum with 41k for 41,500.

2019 Platinum with 43k for 43,400. This one is only 10 miles from my house.

Perhaps we can work something out and I can supply you trucks from up here... haha.

Edit: These are all at dealers and listed for sale. Not auction.

Sell sell sell

It seems to be getting worse too. I check auto trader almost every work day and it looks like I missed the window a couple of months ago. Now I have to wait for things to normalize. The problem is if I sell my truck now (the right time for that) then I have a pretty hard deadline of September to find something because that's when my daughter turns 16 and she will likely want her Jeep that I have been driving.

Its craaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaazy in SoCal! People are spending money like the world is ending tomorrow. I dont get it.

gimmie11s said:

Its craaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaazy in SoCal! People are spending money like the world is ending tomorrow. I dont get it.

Click to expand...

There’s sooo much money out there. Soon to be tons more. Only a matter of days until hyper-inflation hits.
Hello Venezuela.

Stanley said:

It seems to be getting worse too. I check auto trader almost every work day and it looks like I missed the window a couple of months ago. Now I have to wait for things to normalize. The problem is if I sell my truck now (the right time for that) then I have a pretty hard deadline of September to find something because that's when my daughter turns 16 and she will likely want her Jeep that I have been driving.

Click to expand...

Inflation isn't likely to get any better any time soon.

New truck rebates aren't anything special and dealers have limited inventory, but they want your trade, so fair deals are out there.

People with clean under 200k mile diesel Excursions are literally getting what they paid for them new. They got 20+ years and in some cases nearly 200k miles of use and they can get their money back....

What a time to be alive!

BlueSnake01 said:

So would be best time to actually sell a use car, wait, and buy a new one?

Click to expand...

If you can do that, yes.

velocicaur said:

Crazy. They aren't that bad here in Michigan. Perhaps it's time to check up north?

2019 Platinum Black, one owner, no accidents with 40k miles for $40,900.

2017 Platinum with 41k for 41,500.

2019 Platinum with 43k for 43,400. This one is only 10 miles from my house.

Perhaps we can work something out and I can supply you trucks from up here... haha.

Edit: These are all at dealers and listed for sale. Not auction.

Click to expand...

I'd bet those are Canadian trucks.

Dear Lord!
I have to ditch my 2016 Explorer Sport by mid-May, you think the used car market will continue to be favorable for the next 5-6 weeks? Ill get it on the market now if it is going to die down.

stvdman said:

Dear Lord!
I have to ditch my 2016 Explorer Sport by mid-May, you think the used car market will continue to be favorable for the next 5-6 weeks? Ill get it on the market now if it is going to die down.

Click to expand...

Shoot me the VIN and miles and I'll gladly give you a cash offer.

I'm about to saddle the New Edge GT back up to daily duty and sell our 19' civic. Sheesh. What kind of world are we living in where there's practically no value dump

I just sold my 2018 Mustang GT PP1 to a dealer yesterday for 28k
34,000 miles. All stock. A few rock chips. No mods.

13COBRA said:

If you can do that, yes.



I'd bet those are Canadian trucks.

Click to expand...

Are Canadian trucks any different/pose an issue?