Blue Oval 5.0
Active member
Hi All,
The automobile market of the COVID era saw some crazy times. Prices of new and used vehicles went through the roof and there was plenty of dealer mark up to go around due to limited supply. We even experienced a period where used vehicles were bringing more at time of trade or sale than they cost when they were sold as new which was virtually unheard of prior to COVID. As a member of the Maverick Truck Club, I read plenty of posts on the forums where members were selling their Maverick's at prices above what they had paid, especially the hybrid models.
We purchased our Maverick XLT on May 31st as we had gotten tired of waiting 16+ months for the one we ordered to arrive. It was an impulse buy and we did pay $895 over MSRP unfortunately. MSRP was $33,105 for XLT Luxury Package, 4K Tow Pkg, FX4 Off Road Package, and a Hard Tri-Fold Tonneau Cover. We had ordered the same pickup but in Lariat trim and different exterior color.
After owning only 6-7 months and 1,550 miles, we found that it doesn't really meet our needs as a family. So, I looked at trading it in or selling to the large online buyers like Carvana, CarMax, etc. I am finding that the offers are in the $27k-$28k range, that would be a typical loss on brand new vehicle, especially prior to 2020. Now, I was not expecting to make a profit but I was hoping for a little less of a hit - maybe $30k or so.
Has anyone experienced a similar outcome with a recently purchased vehicle that they were looking to get out of? I am just wondering as it seems the market is going through a correction phase.
Thanks,
Eric
The automobile market of the COVID era saw some crazy times. Prices of new and used vehicles went through the roof and there was plenty of dealer mark up to go around due to limited supply. We even experienced a period where used vehicles were bringing more at time of trade or sale than they cost when they were sold as new which was virtually unheard of prior to COVID. As a member of the Maverick Truck Club, I read plenty of posts on the forums where members were selling their Maverick's at prices above what they had paid, especially the hybrid models.
We purchased our Maverick XLT on May 31st as we had gotten tired of waiting 16+ months for the one we ordered to arrive. It was an impulse buy and we did pay $895 over MSRP unfortunately. MSRP was $33,105 for XLT Luxury Package, 4K Tow Pkg, FX4 Off Road Package, and a Hard Tri-Fold Tonneau Cover. We had ordered the same pickup but in Lariat trim and different exterior color.
After owning only 6-7 months and 1,550 miles, we found that it doesn't really meet our needs as a family. So, I looked at trading it in or selling to the large online buyers like Carvana, CarMax, etc. I am finding that the offers are in the $27k-$28k range, that would be a typical loss on brand new vehicle, especially prior to 2020. Now, I was not expecting to make a profit but I was hoping for a little less of a hit - maybe $30k or so.
Has anyone experienced a similar outcome with a recently purchased vehicle that they were looking to get out of? I am just wondering as it seems the market is going through a correction phase.
Thanks,
Eric
