Some dealers just don't want the Maverick

[Peps]

I have to share this.
After 440 days waiting my 2nd (identical) Maverick arrived and I checked the price for my older 3K mile "basic" XLT Hybrid Lux 360 with rear sliding window area 51 and.......$17,951!
are you kidding me?
I am almost tempted to accept it, to just look in the eyes (or receive the call) from whoever is going to close the deal...

View attachment 73083

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[commadorebob]

I'll match.

 

[Captain]

I have to share this.
After 440 days waiting my 2nd (identical) Maverick arrived and I checked the price for my older 3K mile "basic" XLT Hybrid Lux 360 with rear sliding window area 51 and.......$17,951!
are you kidding me?
I am almost tempted to accept it, to just look in the eye (or receive the call) from whoever is going to close the deal...

View attachment 73083

These Johnny come lately dealers are so over there heads with used vehicles that the bubble is bursting…. Sadly what’s happening is they are purchasing on the cheap, but have so much money invested they have to sell. High. Carvana and Vrooom are in for a beating.

 

[Nick]

Got 21K for my Hybrid with 3K miles.

 

[Captain]

Got 21K for my Hybrid with 3K miles.

View attachment 73086

If u know the VIN try looking it up on Vrooom and see what they are asking for it. It would be enlightening.

 

[Timothyd]

I have to share this.
After 440 days waiting my 2nd (identical) Maverick arrived and I checked the price for my older 3K mile "basic" XLT Hybrid Lux 360 with rear sliding window area 51 and.......$17,951!
are you kidding me?
I am almost tempted to accept it, to just look in the eyes (or receive the call) from whoever is going to close the deal...

View attachment 73083

Hold it. I'm on the way!

 

[Peps]

by the way
carvana was ~30k
vroom 25k.
carmax no longer gives me instant offers.
I am pretty sure local dealers will do better..

 

[TedTX]

Used car bubble burst a few weeks back, rising interest rates and the unofficial recession gripping hard. However once the floor in price is reached, it should rebound to normal supply vs. demand conditions.

 

[Peps]

Hold it. I'm on the way!

I will deliver it to you. all included

 

[Greg_in_GA]

Does your truck have any outstanding recalls?

I am not 100% sure but if the truck has any outstanding recalls they may not be able to resell it until the recall is done which can take a long time. Even if they can legally sell a car with an outstanding recall they may not want to because of liability.

 

[Peps]

Does your truck have any outstanding recalls?

I am not 100% sure but if the truck has any outstanding recalls they may not be able to resell it until the recall is done which can take a long time. Even if they can legally sell a car with an outstanding recall they may not want to because of liability.

Interesting point.
or for whatever legal reason they need to make offers to any vehicle they are asked for and just do not want the maverick

 

[Captain]

Interesting point.
or for whatever legal reason they need to make offers to any vehicle they are asked for and just do not want the maverick

Good point.. recalls will kill a resale.

 

[Sleeper 7]

How quickly things change. They are all losing money right now dumping used inventory.

 

[Captain]

How quickly things change. They are all losing money right now dumping used inventory.

Except they are not dumping inventory…. They are only lowering buy prices drastically, not sell prices

 

[RockHoundTX]

In today's market definitely a low bid but I am not at all surprised. In "normal times", $18k would be a legitimate offer for a "lightly used" vehicle with a roughly $25k MSRP. The wholesale used car market is already down by roughly 10% since June and values are dropping by about 1% a WEEK. Only about half of the cars at wholesale auctions are actually being sold (i.e., no-sales) since wholesale buyers are not willing to pay what sellers are willing to take. Dealers are sitting on a lot of inventory they over-paid for (and are losing money on every day due to increasing interest payments). At some point in the near future (next 30-60 days?) a lot of this inventory "must" get sold (the banks are starting to force the dealers to sell). Add to that all the repos (3x+ what they were last year) and you should have a lot of vehicles hitting the market to drasticaly increase supply. More importantly, the number of buyers is supposedly WAY down due to rising interest rates. [per Black Book]

If I were a dealer, I would be throwing out low bids as well. Basic hope is to catch someone that is about to be repo'd and willing to deal. The problem is that most of those that are being repo'd probably paid way over MSRP and thus no way to get whole [many banks were doing lones at up to 140% of MSRP]. In that situation, then the dealer will just wait until the unit shows up at auction and buy it for way under MSRP (with the bank taking the loss).

On top of that, everyone is watching Carvana very carefully. Very real possibility of them going bankrupt at some point in 2023. They are sitting on a ton of over-priced inventory that would absolutely flood the used car market for at least a short period of time. I find it absolutely amazing that they are still willing to pay over MSRP (and at least at the Carvana near me, they are over-flowing with used cars).

If the trend continues, I fully expect that most "lightly used" cars will be back under MSRP by early next Spring (even the "in-demand" models). I am keeping my fingers cross that the used car market will be back to "normal" by next Summer. Anyone buying a Maverick (especially the Eco) with the idea of flipping it is likely to be disappointed. If someone is trying to sell a used car, now is the time. It will likely be worth less next week than it is this week.

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