Happy New Year! How much did your KBB drop?

[burger_time]

I have a 23 Lariat Lux hybrid with CP360/Assist. Also aftermarket SIBL and hard trifold tonneau. Picked it up in late August and I've been checking up on the blue book value periodically and it was holding up really well. A couple of weeks ago KBB showed trade in value as $36,617. Now today it's dropped to $33,690. Anyone else see their value take a noticeable hit now that it's last year's model?

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[Darnon]

Almost like most mass market vehicles are a depreciating asset or something.

 

[Maverick2023]

The gravy train has left the building long ago

 

[Suzukiridr14]

I have a 23 Lariat Lux hybrid with CP360/Assist. Also aftermarket SIBL and hard trifold tonneau. Picked it up in late August and I've been checking up on the blue book value periodically and it was holding up really well. A couple of weeks ago KBB showed trade in value as $36,617. Now today it's dropped to $33,690. Anyone else see their value take a noticeable hit now that it's last year's model?

What's the difference what it's worth, unless you want to sell it? It's like the stock market, check it several times during the week, it goes up, and down!

 

[Gmowa]

Prices should bump up when tax refunds start at the end of January.

 

[bgn]

Almost like most mass market vehicles are a depreciating asset or something.

No way. I was told on this forum that the cheapest vehicle Ford makes for the American market will buck those trends!

 

[commadorebob]

I never looked. Honestly, I plan to run the wheels of this truck. Then buy new wheels and run them off....

 

[ilikebike]

Anyone else see their value take a noticeable hit now that it's last year's model?

No because I use my car as a mode of transportation and not as an investment.

Some of yall on this forum are way too concerned with resale value for some reason.

 

[Ozarkbeard]

My '23 XL Hybrid with 5K miles cost me $23,339 OTD. CARVANA will give me $27,400 if I sold it to them today.

But I bought it to drive for a very long time, not resell.

 

[Jman79]

If you bought your Mav hoping to buck the trend of a vehicle being one of the single worst depreciating assets, then ... Wait, I meant to say, sell it NOW and cut your losses!

Indicators point to the fact that reality is setting back in.

I'll admit, I swore I'd never buy a new car after feeling the depreciation sting of my first 20 years ago. But the market being the way it was in July (when I ordered) a new Mav was still less than many used options. 6 months later as my order rolls off the line it's still kind of the case, but it won't be for long. Anyone expecting different is deluding themselves.

For youngin's who lack the experience here, think of it like a PlayStation. COVID was like Christmas during the initial release. Now it's two summers later and a new model is about to launch.

 

[710-oil-614]

I have a 23 Lariat Lux hybrid with CP360/Assist. Also aftermarket SIBL and hard trifold tonneau. Picked it up in late August and I've been checking up on the blue book value periodically and it was holding up really well. A couple of weeks ago KBB showed trade in value as $36,617. Now today it's dropped to $33,690. Anyone else see their value take a noticeable hit now that it's last year's model?

The 2024MY has been produced for sometime now so it has been a model year old since late October.

I would be surprised if the CY switch was the only culprit in lost value, that or I wouldn't put much weight in the KBB value.

FWIW - neither KBB or CarMax will give me a quote still on my 2023 Tremor. They want to see it in person.

EDIT - Ooof. KBB came back and gave me a low ball offer of $29,500 for a vehicle that now costs $39,100 and does not include a sliding rear window, heated wipers, or the SIBL. No, thank you.

 

[Timothyd]

I have a 23 Lariat Lux hybrid with CP360/Assist. Also aftermarket SIBL and hard trifold tonneau. Picked it up in late August and I've been checking up on the blue book value periodically and it was holding up really well. A couple of weeks ago KBB showed trade in value as $36,617. Now today it's dropped to $33,690. Anyone else see their value take a noticeable hit now that it's last year's model?

I'm dreading this. I have a loaded '23 AWD lariat to sell when my hybrid comes in.

 

[Jeffrey]

My '23 XL Hybrid with 5K miles cost me $23,339 OTD. CARVANA will give me $27,400 if I sold it to them today.

But I bought it to drive for a very long time, not resell.

Weird, my hybrid xlt lux 23 with 4k miles is $27,300 from them.

 

[A Sturdy Beast]

I have a 23 Lariat Lux hybrid with CP360/Assist. Also aftermarket SIBL and hard trifold tonneau. Picked it up in late August and I've been checking up on the blue book value periodically and it was holding up really well. A couple of weeks ago KBB showed trade in value as $36,617. Now today it's dropped to $33,690. Anyone else see their value take a noticeable hit now that it's last year's model?

Same here. I check mine monthly on KBB. I know cars are depreciating assets, but I like to know the value because each month I like to calculate my net worth.

I bought my 2023 hybrid XL last July and after price protection and the Farm Bureau rebate, including dealer fees but before tax and license I paid $23,865. The median KBB trade in value two months later was $31,276. Since then, it had been dropping about $440 per month.

But this month mine dropped $3,273 to $26,850. Still more than I paid out the door. Not that it really matters as I don’t plan to trade it in or sell outright.

 

[Skyline]

I am not looking for selling mine, at least not yet, but this is what KBB shows for mine (out the door 36K last January):

KBB shows private sale value as 34.8 - 38.8K. Really, where do I sign up for that?

I don't know much about KBB, how accurate are they? Based on what I see, they probably overestimating the value of the vehicles, just to have you sign up with them.

The Honda dealer offered 32K for trading it in right on spot last December, but I didn't take it. Mainly since I didn't want a '23 Ridgeline...

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