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SVTPerformance's Chain of Restaurants
Road Side Pub
Auction Prices
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<blockquote data-quote="13COBRA" data-source="post: 16603228" data-attributes="member: 138337"><p>The used vehicle market is absolutely INSANE. It won't get any better until manufacturers are able to re-stock new inventory, which will <u><strong>hopefully</strong></u> be in the 3rd quarter, if not 4th.</p><p></p><p>Below is a screenshot of the madness I'm witnessing. This is a 2018 F-150 Crew Cab Platinum 4x4 with just under 33,000 miles. It's a one owner, no accident, no story, etc truck. It has a condition report of 4.3/5, which translates to about $500 of needed reconditioning.</p><p></p><p>MMR, or average auction price for this truck is $48,500 (which is insane). NADA Clean Trade-In Value is $48,300. The average price listed on Cars.com and Cargurus.com is $46,214/46,688. So yes, the average auction price is $2,000 higher than the average selling price.</p><p></p><p>This sold to Bill Knight Ford in OKC for $51,500. On top of that, they will have to pay a $425 auction fee, and between $300-350 to ship it from KC to OKC. So before they recondition it, they will own it for almost $52,500.</p><p></p><p>When this truck was new, it had an original MSRP of $65,315 and a dealer cost of $58,930.28. Then there were at least $1,000 in rebates, if not $2,500. So worse case, you could've purchased this truck for $58,000 or so....3 years ago.</p><p></p><p>[ATTACH=full]1697595[/ATTACH]</p></blockquote><p></p>
[QUOTE="13COBRA, post: 16603228, member: 138337"] The used vehicle market is absolutely INSANE. It won't get any better until manufacturers are able to re-stock new inventory, which will [U][b]hopefully[/b][/U] be in the 3rd quarter, if not 4th. Below is a screenshot of the madness I'm witnessing. This is a 2018 F-150 Crew Cab Platinum 4x4 with just under 33,000 miles. It's a one owner, no accident, no story, etc truck. It has a condition report of 4.3/5, which translates to about $500 of needed reconditioning. MMR, or average auction price for this truck is $48,500 (which is insane). NADA Clean Trade-In Value is $48,300. The average price listed on Cars.com and Cargurus.com is $46,214/46,688. So yes, the average auction price is $2,000 higher than the average selling price. This sold to Bill Knight Ford in OKC for $51,500. On top of that, they will have to pay a $425 auction fee, and between $300-350 to ship it from KC to OKC. So before they recondition it, they will own it for almost $52,500. When this truck was new, it had an original MSRP of $65,315 and a dealer cost of $58,930.28. Then there were at least $1,000 in rebates, if not $2,500. So worse case, you could've purchased this truck for $58,000 or so....3 years ago. [ATTACH=full]1697595[/ATTACH] [/QUOTE]
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