Large drop in my Carvana offer????

[Ozarkbeard]

why are people worrying about what the[ir] truck is worth today?

Not you and not everyone, but a lot of people trade vehicles every couple of years.

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[BuddyS]

I haven't read through all the posts so it may have already been mentioned, but maybe the values of '22s are starting to drop due to the likelihood that their 3/36 warranties are about to end?

 

[TooManyVehicles]

I haven't read through all the posts so it may have already been mentioned, but maybe the values of '22s are starting to drop due to the likelihood that their 3/36 warranties are about to end?

I believe this is possible, but a few weeks ago the Carvana offer for my 22 Mav Lariat Lux went up a bit.

I just checked Carmax and they say it is worth 25.4K (w/34K miles on odometer). 3/36 will be up at the end of March.

If I keep it I will likely buy the extended warranty on this (given the number of recalls etc so far).

 

[RR - All the way]

Interestingly, on My Ford account they are showing 25.6K as trade in value as of today.

Never seen that much difference!!!

Interestingly, on My Ford account they are showing 25.6K as trade in value as of today

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How do you find trade in value on My Ford? Is it on the app, or on-line? I don't see it on the app.
[/QUOTE]
I financed with Ford as it was 0% interest. This value is given in my finance account that shows payoff. They like to give the value and how much equity you have to tempt you to trade and buy a new vehicle!!!!! At higher interest rates!!

 

[710-oil-614]

Honestly it was what I was scared of and why I got rid of my Tremor in April 2024, I got 3,400 more than I paid for it after about a year of ownership and 11k miles.

The way the Tremor line ended up going (Lariat only in 2025) my 2023 Tremor would have likely held its value while I waited for the 2025 AWD Hybrid, but I might also have been left holding a bit of a bag and not able to make the switch so I'm happy how things played out.

 

[dochawk]

Are you the same people that check the value of your residence on ZILLOW and log in to your Fidelity/Schwab/Goldman 401(k), IRA accounts weekly and whine about the stock market?

Weekly?

Nah, daily, and I log it.

Whine? Naw. More like "gloat".

the daily log is just there for after the next big crash, to help me keep my nerve.

The only people wave lost money in the market over the last forty years (except in individual stocks) are the ones who sold after a crash.

 

[surfstar]

I've never considered new cars to be an asset, except for the 0.5% that are collectables. Cars are a consumable service. And they cost real money - way more than most owners are aware of. Because not many owners add up the numbers for depreciation, fuel, insurance, taxes, registration and licensing, and maintenance.

A typical vehicle in the USA, when you add it all up, averages $10,000 per year. And most of us have two or three vehicles. So when you're wondering where all your money goes...

https://www.aaa.com/autorepair/articles/average-annual-cost-of-new-vehicle-ownership

I like new cars. But I've always been honest about what they cost me. There's a $20,000 per year "transportation" entry in my budget for the two new or at least relatively new cars that are always in the driveway.

My first new vehicle was a 2016 Golf Sportwagen ("base" model), and I tracked all expenses. I didn't account for opportunity cost, that's a bit too nitpicky - but all I spent on it, I tracked.

I owned it for 5.25 years, 72k miles. All in cost per month: $339
Largest costs by %:
Depreciation - 42% (includes taxes w/ purchase price)
Fuel - 27%
Insurance - 17%
Registration - 7%
Maintenance - 4% (includes tires)
Mods/wax/misc - 3%

Accounting for inflation, my 2023 Mav XL hybrid is very close to the purchase price of my VW (although I've spent much more in 'upgrades' - tonneau, wheels, ACC, etc). The VW was heavily discounted thanks to Dieselgate, though. Mav gets ~2 mpg more. VW was more fun to drive and put togther quite well. Mav is pretty darn practical for its cost (so far).

Prior to the VW, a 'new' car to me, was one with less than 100k miles. I don't have all the data from a used Saturn Vue, but the depreciation was only about $40/mo less than the new VW. Economically purchased new vehicles, can cost only a little bit more than buying used. We have the money to prefer safer, newer vehicles now.

 

[TwuckHappens]

So I was looking at a lot of Mavericks before I bought my 2025 and I'll say that they're are a ton of used Mavericks out there and they seem to expensive for what they are.just like the stories of people getting more than their car was brand new, dealers and private sales were pricing them accordingly. I think the market is catching up, Mavericks aren't rare and almost every dealer is discounting 2025s and the 2024s they can sell. The difference between a new 2025/2024 and a used 2023 with 20k-40k miles doesn't make sense.

That being said values fluctuate and it's a supply and demand thing - if intereste rates go down - new cars become more affordable. If importing becomes more expensive, new cars become unaffordable and used car prices will go up.

 

[Ron Neal]

So I was looking at a lot of Mavericks before I bought my 2025 and I'll say that they're are a ton of used Mavericks out there and they seem to expensive for what they are.just like the stories of people getting more than their car was brand new, dealers and private sales were pricing them accordingly. I think the market is catching up, Mavericks aren't rare and almost every dealer is discounting 2025s and the 2024s they can sell. The difference between a new 2025/2024 and a used 2023 with 20k-40k miles doesn't make sense.

That being said values fluctuate and it's a supply and demand thing - if intereste rates go down - new cars become more affordable. If importing becomes more expensive, new cars become unaffordable and used car prices will go up.

Agree, I sold 3 Mavericks for a profit after paying sales tax, dealer fees, tags and miles on the odometer. Crazy market due to the pandemic and the new maverick thing.
I used to think buying a nice late model used vehicle was a good idea but mot sure anymore. One really needs to do their homework when shopping for a used or new vehicle. Sometimes new is cheaper than used or at least a better deal and then sometimes you just get screwed or worse you screw yourself.

 

[25XLT]

Yes, here is my brand-new offer from Carvana from last week on a 2024 XLT with lux and 360 at 6,200 miles.

 

[TwuckHappens]

Agree, I sold 3 Mavericks for a profit after paying sales tax, dealer fees, tags and miles on the odometer. Crazy market due to the pandemic and the new maverick thing.
I used to think buying a nice late model used vehicle was a good idea but mot sure anymore. One really needs to do their homework when shopping for a used or new vehicle. Sometimes new is cheaper than used or at least a better deal and then sometimes you just get screwed or worse you screw yourself.

Yes, here is my brand-new offer from Carvana from last week on a 2024 XLT with lux and 360 at 6,200 miles.

That's not terrible (but its part of the reason why i decided to buy now vs wait for a vehicle to be built). If Ford gets the camera recall done soon that offer should drop significantly. The Planet Ford by where i live has over 80 2024 XL and XLTs that they can not sell.

 

[Scupking]

I haven't read through all the posts so it may have already been mentioned, but maybe the values of '22s are starting to drop due to the likelihood that their 3/36 warranties are about to end?

And they still can't sell 22-24 XL or XLTS because of the camera issue...

 

[25XLT]

That's not terrible (but its part of the reason why i decided to buy now vs wait for a vehicle to be built). If Ford gets the camera recall done soon that offer should drop significantly. The Planet Ford by where i live has over 80 2024 XL and XLTs that they can not sell.

It looks like demand and supply are coming together. Depreciation is starting to look like normal now (pre-Covid). When I traded in my '23 XL, I got all of my $ towards the trade including the sales tax and registration plus $100. Well, those days are over, and maybe that is a good thing. No one should pay at or above MSRP now.

 

[FreedomPenguin]

if you run a carvanna, and re run it, it hits as a 2nd unit in your same area, so they drop greatly. did it to my gr86, I ran it a day later and it dropped like 3k because was 2nd one ran in my area.

they accepted my first offer though, the new didnt over ride it fortunately. but dont re run it often, it'll continue to drop pretty much. run it when they expire

 

[25XLT]

if you run a carvanna, and re run it, it hits as a 2nd unit in your same area, so they drop greatly. did it to my gr86, I ran it a day later and it dropped like 3k because was 2nd one ran in my area.

they accepted my first offer though, the new didnt over ride it fortunately. but dont re run it often, it'll continue to drop pretty much. run it when they expire

Good advice. They seem to send it to me every week or two without asking for it.

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