Much Less Resale value

[usernameistaken]

I noticed use 2023 Lariat with 11k mileage is about $20k less than brand new 2024 Lariat in Canada. Is this normal for F150 to lose this much of value in one year??

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[adyaro77]

I noticed use 2023 Lariat with 11k mileage is about $20k less than brand new 2024 Lariat in Canada. Is this normal for F150 to lose this much of value in one year??

I just traded in my 23' with 13,000 miles and yup!!! Redesigns in 24' doesn't help. Also, dealers know the issues with these trucks. That's why I was trading mine in. Sad but true. I made money off my 19' XLT. My loaded 23' Lariat wasn't worth crap. Normally they'll sell the trade in vehicles on their lot and with mine they didn't even want it. They shipped it off. Think about that? A loaded out 23' Lariat with 13,000 miles and the dealership didn't even want to sell it on their own.

Part of the reason why my 2024 is an XLT 302A. More options more problems and no more in resale. I know you lose a lot the first year, but to hear your dealership say they don't want it???

Now granted they do have an abundance of brand new 23's, but they're only base models... and they told me the 24s aren't selling very well. The base XLT's are leasing well, but trucks aren't flying off their lots.

 

[Buyer2021]

IME resale all depends on the moment-to-moment local market whims, and of course the equipment and condition of the vehicle.

Any way you cut it, the immediate depreciation of a vehicle is most often a significant amount, especially with a 'quick-flip' in the first couple of years, absent some market anomaly like the extreme used-vehicle shortage during the Covid mess.

 

[mau47]

It also doesn't help that there's still a fair amount of 2023 inventory on lots not sold. The dealer I bought my truck from still has 20+ 23's on the lot. Definitely not ideal for us, but I presume things will level out a bit in a couple years. I am planning to hold onto this for a while and hopefully won't take a total bath on it.

 

[adyaro77]

IME resale all depends on the moment-to-moment local market whims, and of course the equipment and condition of the vehicle.

Any way you cut it, the immediate depreciation of a vehicle is most often a significant amount, especially with a 'quick-flip' in the first couple of years, absent some market anomaly like the extreme used-vehicle shortage during the Covid mess.

Well I'll share with you what the dealership manager said to me. The 23' was a problematic year with a lot of deletions. We now have an abundance of 23s and people don't like the price increases of the 24s.

This is exactly why I didn't wait to order a vehicle. They weren't even sure if they would take it 2 to 3 months from now. I've never in my life had a hard time selling a Ford F series.

 

[adyaro77]

It also doesn't help that there's still a fair amount of 2023 inventory on lots not sold. The dealer I bought my truck from still has 20+ 23's on the lot. Definitely not ideal for us, but I presume things will level out a bit in a couple years. I am planning to hold onto this for a while and hopefully won't take a total bath on it.

All new 23' XLT's at my dealer anyways. I thought mine being a Lariat would of helped...nope. I didn't look at used because of interest rates. So the other issue. They have a 22' and 23' Raptor on their used lot.....been sitting for months...

 

[usernameistaken]

I just traded in my 23' with 13,000 miles and yup!!! Redesigns in 24' doesn't help. Also, dealers know the issues with these trucks. That's why I was trading mine in. Sad but true. I made money off my 19' XLT. My loaded 23' Lariat wasn't worth crap. Normally they'll sell the trade in vehicles on their lot and with mine they didn't even want it. They shipped it off. Think about that? A loaded out 23' Lariat with 13,000 miles and the dealership didn't even want to sell it on their own.

Part of the reason why my 2024 is an XLT 302A. More options more problems and no more in resale. I know you lose a lot the first year, but to hear your dealership say they don't want it???

Now granted they do have an abundance of brand new 23's, but they're only base models... and they told me the 24s aren't selling very well. The base XLT's are leasing well, but trucks aren't flying off their lots.

So what are you saying? The 2023 Lariat model has many issues and 2024 Lariat the issues are fixed? Is it good idea then to but 2024 Lariat or should I wait for 2025?

 

[JayceeP]

I noticed use 2023 Lariat with 11k mileage is about $20k less than brand new 2024 Lariat in Canada. Is this normal for F150 to lose this much of value in one year??

Well keep in mind you can probably get somewhere around $10,000 off a brand new 2024… plus add on the initial off the lot depreciation once you take possession. Sounds about right with a year’s worth of mileage and unknown driving habits added to the odometer.

 

[Mash150]

You will lose almost the first year of depreciation on the 24 if you order it. Buying off the lot would be the thing to do if you wanted to go with a 24 model. Then again a 25 will cost you another year of depreciation. Depends on your wants and needs .

 

[adyaro77]

So what are you saying? The 2023 Lariat model has many issues and 2024 Lariat the issues are fixed? Is it good idea then to but 2024 Lariat or should I wait for 2025?

What I will say and I like to say this is I'm a huge " Ford Guy". So I'm obviously biased. Normally I'm the one defending Ford vehicles. I've had decades worth of experience with Ford vehicles. I can honestly say my 23' Lariat was the worst Ford vehicle I have ever owned. So much so that if you have given it to me I would have sold it. The amount of aggravation that I had over 11 months was ridiculous. I mean I was getting to drive a lot of new 2024 f-150s so that was nice, but I spent many weeks without my vehicle.


I didn't even look at other vehicles because I like the look of the Ford F-series the best. But even my 24' XLT with 700 miles has been back to the dealership once and is going back in on the 15th.

It's having some sensor issue. It has to do with the exterior sensors front and back. The dealership talked about calibration and sensitivity. On the way home with only 60 miles my dash board lit up like a Christmas tree.

It's not looking good so far and I'm really hoping this isn't an ongoing issue. Apparently they turned all the sensors off so all the lights on the dashboard would go away. That's what they're going to start fixing on the 15th. I will say that my 24' drives so much nicer than my 23' and we're talking about going from a Lariat to an XLT. Both FX4. And the cloth seats are so much more comfortable than the leather. I don't understand that at all. Overall I like the 24' better. I absolutely love the look of the XLT grill. I mean I miss a couple options like memory seats and power folding mirrors, but can be added later. I do not miss the sunroof. At the end that's why I got rid of my 23'. They ripped apart my interior twice and it was still leaking. I wish I had pictures of the inside when it was torn apart. I went to get my insurance in the visor and I almost fell on the floor. They also ruined a lot of the plastic pieces. So when I would be driving around all I seen was damaged body panels. When I cleaned it out to trade it in we found screws and clips everywhere.

I posted this a few times on here and I'm still a little pissed off..lol... But no I wouldn't wait. I do know the 25's are probably coming out soon. I mean maybe if you wait they will get quality control figured out. My 24' came with a bunch of misaligned parts. That hasn't changed in years. So did my 2019. I mean you would have thought the 23's would have been built better than 21's. I know guys at work that have 21's and have only been to the dealership for oil changes and tire rotations.

But again I honestly do think there is a quality control issue. I can only hope that Ford reads these forums and reports back to somebody. There is no reason a bumper should be on a 22° angle with four misaligned doors. And then I look at a 24' with similar issues.

At the end of the day I got out of a much larger loan and I got a hell of a deal on the 24' for you I would just make sure you're getting the best deal you can as these trucks aren't flying off the lots. I said this before here in Metro Detroit there would have been no reason for me to order a truck unless I wanted a King Ranch or a limited. Six and a half foot bed xlts are all so hard to find.

I honestly went back to an XLT because I've had three higher trim level trucks and for me I was just tired of the problems. That doesn't mean someone else's Lariat is going to be a POS. It just means for me I pissed a lot of money away and it wasn't worth it. I wish I could have all the money back for all the customization that was done. It was a sport appearance package that was made into a black appearance package.

 

[mau47]

What I will say and I like to say this is I'm a huge " Ford Guy". So I'm obviously biased. Normally I'm the one defending Ford vehicles. I've had decades worth of experience with Ford vehicles. I can honestly say my 23' Lariat was the worst Ford vehicle I have ever owned. So much so that if you have given it to me I would have sold it. The amount of aggravation that I had over 11 months was ridiculous. I mean I was getting to drive a lot of new 2024 f-150s so that was nice, but I spent many weeks without my vehicle.


I didn't even look at other vehicles because I like the look of the Ford F-series the best. But even my 24' XLT with 700 miles has been back to the dealership once and is going back in on the 15th.

It's having some sensor issue. It has to do with the exterior sensors front and back. The dealership talked about calibration and sensitivity. On the way home with only 60 miles my dash board lit up like a Christmas tree.

It's not looking good so far and I'm really hoping this isn't an ongoing issue. Apparently they turned all the sensors off so all the lights on the dashboard would go away. That's what they're going to start fixing on the 15th. I will say that my 24' drives so much nicer than my 23' and we're talking about going from a Lariat to an XLT. Both FX4. And the cloth seats are so much more comfortable than the leather. I don't understand that at all. Overall I like the 24' better. I absolutely love the look of the XLT grill. I mean I miss a couple options like memory seats and power folding mirrors, but can be added later. I do not miss the sunroof. At the end that's why I got rid of my 23'. They ripped apart my interior twice and it was still leaking. I wish I had pictures of the inside when it was torn apart. I went to get my insurance in the visor and I almost fell on the floor. They also ruined a lot of the plastic pieces. So when I would be driving around all I seen was damaged body panels. When I cleaned it out to trade it in we found screws and clips everywhere.

I posted this a few times on here and I'm still a little pissed off..lol... But no I wouldn't wait. I do know the 25's are probably coming out soon. I mean maybe if you wait they will get quality control figured out. My 24' came with a bunch of misaligned parts. That hasn't changed in years. So did my 2019. I mean you would have thought the 23's would have been built better than 21's. I know guys at work that have 21's and have only been to the dealership for oil changes and tire rotations.

But again I honestly do think there is a quality control issue. I can only hope that Ford reads these forums and reports back to somebody. There is no reason a bumper should be on a 22° angle with four misaligned doors. And then I look at a 24' with similar issues.

At the end of the day I got out of a much larger loan and I got a hell of a deal on the 24' for you I would just make sure you're getting the best deal you can as these trucks aren't flying off the lots. I said this before here in Metro Detroit there would have been no reason for me to order a truck unless I wanted a King Ranch or a limited. Six and a half foot bed xlts are all so hard to find.

I honestly went back to an XLT because I've had three higher trim level trucks and for me I was just tired of the problems. That doesn't mean someone else's Lariat is going to be a POS. It just means for me I pissed a lot of money away and it wasn't worth it. I wish I could have all the money back for all the customization that was done. It was a sport appearance package that was made into a black appearance package.

Sorry you had all of these issues. It sounds like its a combo of poor QC at the factory and incompetent techs. I have had my truck for 7 months and have had 2 issues that required a dealer visit, the first issue was for panel fitment issues and they decided to update some modules and caused an issue with the SCCM. The tech is supposedly a "master certified ford tech" and worked at the dealership for 40 years was an absolute hack and after a month of driving a loaner escape with a postage sized screen I got fed up took the truck back and after putting it back together properly myself because he left panels loose, missing clips etc. I was able to fix the actual issue in about 10 minutes myself with my laptop. The second issue was a dead camera I went to a different dealer and they were great. It was a night and day difference in both competence and speed. I have had some other issues but all of them solved for $50 and a few hours of my time with FDRS. Hoping it stays pretty solid but the dealership makes all the difference when things do crop up. The first dealer was very nice, communicative etc. but clearly just didn't know how to work on these modern trucks with so much tech.

 

[usernameistaken]

Hmm after reading all the issues that both of you are experiencing it made me worry to get a ford truck. Maybe I should look into 2021 Tundra V8. Debating now. Lol bit them Toyota has no 0%-1.99% interest promo like never.

 

[GrandpaD]

Just bear in mind this forum is a very small sampling of the thousands of F150s Ford sells. And (no offense to those that had issues and posted) you don't usually see a lot of "I don't have a single complaint about my truck" posts. Yes, there are people that have had issues big and small...but there are 1000s more that haven't seen a reason to post. I've owned 3 Ford trucks (2 PBs) and, while not a "fanboy" by any means, I've not experienced any major issues.

 

[adyaro77]

Hmm after reading all the issues that both of you are experiencing it made me worry to get a ford truck. Maybe I should look into 2021 Tundra V8. Debating now. Lol bit them Toyota has no 0%-1.99% interest promo like never.

What I will say is I have again 30 plus years of owning Ford vehicles and many were simply oil changes, tire rotations, and later changing out tires and brake pads. Yep I've had the occasional alternators and things like that, but I've never had a bad transmission or motor. I can honestly say on this forum I have never broken down in a Ford vehicle. This includes my work vehicles when I was a full-time contractor. So I had employees in my Ford vans as well. Who knows what those guys were doing with them.

I would never turn anyone away from a Ford F series. I can tell you I have good buddies that own Chevys and and Rams and the only reason they do is they get a family discount. All I have ever heard from people that don't own a Ford os complain about is the price. My Ford trucks have always gotten a lot of compliments and my new 24' XLT is currently the talk of the neighborhood..lol ... The new XLT grill design and antimatter blue is all the rage lol.

I just wish I could have gotten a buyout or something. I wish Ford could have said hey here's some money towards negative equity. It was a horrible experience, I did get close to $9,000 off MSRP. I do have the X plan. I absolutely love the truck. I'm just hoping after the 15th I can go back to regular maintenance for a while.

 

[adyaro77]

Sorry you had all of these issues. It sounds like its a combo of poor QC at the factory and incompetent techs. I have had my truck for 7 months and have had 2 issues that required a dealer visit, the first issue was for panel fitment issues and they decided to update some modules and caused an issue with the SCCM. The tech is supposedly a "master certified ford tech" and worked at the dealership for 40 years was an absolute hack and after a month of driving a loaner escape with a postage sized screen I got fed up took the truck back and after putting it back together properly myself because he left panels loose, missing clips etc. I was able to fix the actual issue in about 10 minutes myself with my laptop. The second issue was a dead camera I went to a different dealer and they were great. It was a night and day difference in both competence and speed. I have had some other issues but all of them solved for $50 and a few hours of my time with FDRS. Hoping it stays pretty solid but the dealership makes all the difference when things do crop up. The first dealer was very nice, communicative etc. but clearly just didn't know how to work on these modern trucks with so much tech.

I hate to hear anyone else going through this, but it also comforts me that I'm not the only one. Sometimes at the dealership I almost felt singled out like I was the problem. Every single problem that I had was easily diagnosed or seen.

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