Sell existing vehicle now before delivery?

[TerryE]

I wanted to start this thread to see how many have decided to take advantage of the current trend of pricing to sell your existing vehicle.

We all know the used car market now is insane.

I am more fortunate than others as I have another couple of vehicles, (wife's car and motorcycle), to use until the Mav arrives in the fall.
I have been monitoring (KBB) reference pricing for months.
In Feb, my current vehicle (2011 Cadillac SRX, 1 owner, 118K miles good condition) was valued for a Private seller at $7150.
In June, it jumped to $9175!
Told my wife that I need to sell early and posted my car on the neighborhood FB site and sold it in 4 hours for $9k even on July 3rd.
Checked today, same KBB price now is $8466. Seems like the peak has been set.
I am glad I did it and will 'bite the bullet' of the hassle of not having a daily driver for a few months.

As a note: My CarFax report would have shown 3 accidents. Even though they were relatively minor repairs, the report says Collision so I would not have received the $9k from a Dealer or from any online (Vroom) type.

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[Shay]

The used car market is hot right now. I am selling two cars before my Maverick arrives. Striking while the iron is hot.

 

[CASD57]

Looks like mine is worth trade in what I paid for it..So my only loss it the payments each month...I look at them as rental payments since last Dec.
I can't sale on the street early because We only have two cars and we both need them daily... So I'm stuck trading in or double payments until I sell it on the street which I prefer to avoid. One reason it's a gas-hog and with the gas prices where they are it might be a hard sell.

 

[Tripp]

I sold my VW Alltrack before the Maverick was even announced. The market was just getting too crazy for me and I sold to Carvana when they offered almost as much as I paid for it 3 years ago.
My situation is not typical. I work from home and I barely drive anywhere. The wife has a vehicle for transporting the family, and my still 15 year old son has a Jeep that I can use until I get something to replace my VW. Luckily the Maverick was announced shortly after I sold it and it is perfect for what I need.

 

[TerryE]

I'm planning to sell my current Escape in the next 2-3 weeks. I've got a road trip planned the first week of August, but that's really the only thing I need it for until my Maverick shows up.

I too think we've seen the peak of used car values. I've been following my vehicles value for the past month via CarMax, Carvana, Vroom. Carmax has been consistently higher, my initial offer was $29,600 three weeks ago (which was slightly more than I paid new last year) but their offer has dropped $1400 over the past three weeks. It dropped $1000 first, then $200 two weeks ago, and just checked again and another $200 drop this week. Odd that it's dropped so much and my mileage has been unchanged as I work from home. If it only drops ~$200 a week for the next few weeks I can live with that.

Wow, $1400 drop over the last three weeks! Yeah, I think that since the manufacturers are now finally sending new vehicles, the supply and demand for used will continue to drop like a rock.

 

[Unlikely_Username]

I'm hoping my Maverick is among the first to ship so I can trade in my car while the market is still hot. Unfortunately I can't get rid of my current vehicle and go without a car for the next 2-4 months.

 

[AceGoliath]

I have an F150 I will be selling/trading, but based on what I learned with my current early 2nd Day 2021 Bronco reservation I may just hold off until the Maverick or Bronco shows up. I do have a 2nd vehicle - 2010 Fusion and my wife has a SUV that she doesn't currently drive all that much. So it does make sense to take advantage of the market right now, but I still am a little uneasy.

Let's put it into perspective:
Reserved 2021 Bronco 7/14/20 (Reservation Time-stamp is your spot in line for the Bronco)
Ordered with dealer after order banks opened up 1/28/21
Expected first deliveries Spring 2021 - Deliveries started in June so they did hit that mark.
It's now been a year since I reserved and I don't think I will see the Bronco anytime soon. I will more than likely see the Maverick first.

There are plenty restraints on the Bronco right now including the chips. If I kept my order untouched I wouldn't be considered until 2023 MY Bronco wanting a black painted hard top. It was originally a 2021 option , then 2022, and now 2023. I will more than likely be a 2022 with next year delivery. I swapped to soft top only with a hard top prep kit option to get it sooner(Ford is offering $1,000 credit for accessories/service to make the swap).

I'm not saying the Maverick release will be identical to this as it is not as popular, but it is gaining steam. They say the chip fiasco shouldn't be a problem, but just know it could still be a while before they start showing up. More than likely see more in 2022 vs this year. There is also a chance they come out with updates as production gets closer limiting options to late availability etc. Just a little food for thought.

 

[Big_T]

The hot used car market is the only way I can afford the new Maverick. On June 10th I sold my 2018 Jeep Wrangler to Carmax for almost 4k more than I bought it for 18 months ago. Tried to order the Maverick on the 10th but my dealer didn't get the order process figured out until June 14. My wife and I are retired so we can operate with one vehicle for a few months without much trouble. Looking forward to this new little truck.

 

[TerryE]

I have an F150 I will be selling/trading, but based on what I learned with my current early 2nd Day 2021 Bronco reservation I may just hold off until the Maverick or Bronco shows up. I do have a 2nd vehicle - 2010 Fusion and my wife has a SUV that she doesn't currently drive all that much. So it does make sense to take advantage of the market right now, but I still am a little uneasy.

Let's put it into perspective:
Reserved 2021 Bronco 7/14/20
Ordered with dealer after order banks opened up 1/28/21
Expected first deliveries Spring 2021 - Deliveries started in June so they did hit that mark.
It's now been a year since I reserved and I don't think I will see the Bronco anytime soon. I will more than likely see the Maverick first.

There are plenty restraints on the Bronco right now including the chips. If I kept my order untouched I wouldn't be considered until 2023 MY Bronco wanting a black painted hard top. I will more than likely be a 2022 with next year delivery. I swapped to soft top only with a hard top prep kit option to get it sooner(Ford is offering $1,000 credit for accessories/service to make the swap).

I'm not saying the Maverick release will be identical to this as it is not as popular, but it is gaining steam. They say the chip fiasco shouldn't be a problem, but just know it could still be a while before they start showing up. More than likely see more in 2022 vs this year. There is also a chance they come out with updates as production gets closer limiting options to late availability etc. Just a little food for thought.

yeah, agreed, I am taking a chance, but I really think the Mav won't have the same issues as the Bronco. Timing couldn't have been worse for Ford with the logistical problems that have occurred. And, from what I see, there must have been more issues, (that are not publically released), that they discovered about the Bronco that has continued the delay.

 

[Packer Bill]

The used car prices are going down. During the past 3 weeks, my Mazda 2013 SUV has dropped $2000! Good thing that I don't have sell it.

 

[Down]

I'm lucky, in that CarMax's offer my Escape has only dropped a couple hundred in the last couple weeks. Of course, that doesn't matter because my only other vehicle is a Vette and NO WAY I'm gonna try using that for Costco runs the next several months. I've come to peace with the fact that I'll have to sit out this round of inflated used car trade in values.

 

[spyderman01]

I sold mine to get the good value now and then took advantage of the offer from Chapmans for a short term lease until my Maverick shows up.

 

[MarcusBrody]

I'm likely to wait to see if they introduce a AWD hybrid in the second model year in any case, but I think it just depends if you have other cars to use in the mean time and how inconvenient that would be. For me, a few thousand dollars isn't worth being without the car for 3-6 months. If I had a car that was currently worth more and had really spiked in value, I might think differently.

 

[06Warrior]

Currently selling my 2006 F150 locally. Listed it last night and have multiple people interested. Should have it sold later this week if all goes well.

I have my 18’ Mustang to drive and a motorcycle. Really don’t use the F150 much due to the poor gas mileage it gets.

Dealer ordered my Maverick today and an email from Ford confirming my order. Going to be a long 5 or 6 months until I get it.

 

[DuaneM]

I sold my Ram to the dealership when I placed my order for the Maverick last month. They offered $32k for the truck that I bought last year during the crash for $25k. That gives me a bit over $7k to put down on the Maverick. My neighbor has been begging for someone to drive his old beater Mazda so it doesn't rot away. Win-win and everyone is happy.

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