buckmanmike
Senior Member
Dealers love retail to retail transactions. R28 from your details dealer made max profits.
Congratulations and good timing. You may have paid a little more for the new truck than you normally would but you got a lot more for your trade than you normally would.Here was my thinking on the current situation. I’d been keeping up with prices Carvanna and Vroom and others were offering. I watched my truck steadily climb in value every week. I also kept searching around online for F-150’s equipped like I wanted, but the problem is most I wanted were out of state and I wasn’t too keen on taking a chance in this climate having to drive hours only to find the truck was sold. I don’t like doing deposits over the phone because I had a bad experience with that once and had to fight tooth and nail to get my $500 back. Lesson learned.
So, coincidently a dealer about an hour from me got in 4 brand new F150’s and two were equipped like I wanted, in fact one was equipped EXACTLY how I wanted and all it was missing was one option but wasn’t a deal breaker. I typed in my current trucks value on Carvana and it had plummeted $2500. I called the dealership to confirm the truck I wanted was still there, it was. He even sent me a video to confirm it, so I said I want it. He asked me what I needed for my truck and I threw out the highest offer I’d gotten and he called me back and said he’d do that. So I sent all my info to him and told him I’d be there tomorrow to get it. He knew I was serious once I filled out the credit app online and sent all my info in along with pics of my truck, he didn’t ask for a deposit (thankfully). Now, Ford currently has a $1500 rebate for trading in a vehicle and yeah I had to pay msrp. Plus they’d added a few dealer installed options (Ford bed liner, wheel locks, window tint, door guards). Overpriced stuff but it was stuff I wanted anyways, none of that scotchguard interior mess they try to sell you. All in all I was happy with the deal and knew I had to act now because I was afraid my trade would lose more value, it was a gamble to “sell now” on my part but I ended up with the truck I wanted and I was eventually going back to Ford anyways so might as well do it now.
Oh and the trucks they got in? All are sold but one now. And mine was built last month so it wasn’t sitting in a field for weeks/months waiting on parts. I liked that.
They’re making those on everybody right now. Some are charging over sticker and not giving you anything for it.Dealers love retail to retail transactions. R28 from your details dealer made max profits.
Yeah I think it balanced out. Somehow my insurance went down by $30 a month and my payments went down by $24 a month and a shorter term. And this truck msrp was only $900 less than the truck I traded in when it was new.Congratulations and good timing. You may have paid a little more for the new truck than you normally would but you got a lot more for your trade than you normally would.
Mark, I have my hands full with house selling, but I did notice our vehicles are way up. Wife’s is up enough to look into our coverage. Should I look into our coverage to see if it’s covered for a big spike in replacement value?Congratulations and good timing. You may have paid a little more for the new truck than you normally would but you got a lot more for your trade than you normally would.
That's a good question. Typically replacement values change with the market. I've seen it 1st hand recently with a C8 that was totaled and a 1 year old Silverado. Customer with the C8 got more than what he paid for it. Now he has to go on a year and a half waiting list for a new one.Mark, I have my hands full with house selling, but I did notice our vehicles are way up. Wife’s is up enough to look into our coverage. Should I look into our coverage to see if it’s covered for a big spike in replacement value?
Any experience with what’s going on between book value and replacement value?
Not that I’ve seenI saw an ad from a GMC dealership offering 11k off of MSRP on a new GMC 1500.
Is the truck shortage easing?
Carvanna is full of inventory right now. They’re going to be in a mess when this thing corrects itself and they are sitting on all those cars and trucks they paid top dollar for.I read in car and driver that Ford had recently got chips in. Maybe they found an alternate supplier.
I went to carvanna and kelly blue book sites to see what they would offer for my truck. Was offered well below what they said the trade value was. Trade value is sticker price from when I bought it last year.
Not seeing shortages around here. Prices still up but trucks are on the lots.The market is really challenging right now with inventory shortages pushing prices up. I don't know, maybe you should analyze dealerships out of the state. Might be more difficult to bring it home, but it is what it is.