CPO Pricing - What’s the Trend?

[RedStang]

Been looking at purchasing a CPO F-150, either 3.5L EcoBoost XLT 302 or Lariat 501/502 but curious what others have been seeing for trends online.

One dealer I’m looking at (Villa Ford) has several 2021s and 2022s all listed at least $4k over original MSRP and with at least 5,000 miles on them. This seems crazy high, but they’re adamant that’s what the market prices are, despite KBBand Cars.com showing dealer price recommendations about $4k less.

I’m not in a hurry to buy, especially at that high of a markup, but curious if anyone else is seeing similarly high prices, or if this dealer is an outlier.

Bonus to any recommendations on negotiating techniques. I’ve already shown them competitors’ pricings, but they keep saying they’re on track with the market.

Cheers!

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[Gros Ventre]

When they add a "dealer markup" I head for the door... And to add insult to injury it's already got 5,000 miles on the odometer?? Are you kidding me??

 

[troy12n]

If they are asking for MSRP, walk, if they are asking for more than MSRP, run and don't return phone calls. Laugh at them on the way out the door.

The days of ridiculous used prices has already ended. Dealers are stuck with inventory. Some are avoiding dealing because they overpaid and are trying to at least break even.

That's not your problem. The used market is about to be in a freefall, its already happening and dealers are taking a bath on bad deals they made to get inventory during the chip shortage.

Every day these used vehicles are on the lot is costing them money, they will eventually have to deal, and take the loss... the longer they wait, the more loss they will end up taking,

 

[Snakebitten]

Although it's not really a buyers market or a sellers market, in my opinion, the main reason it's not a buyers market is interest rates rather than the insane dealership pricing of the recent past.

If I were purchasing right now, my STARTING point would be a discount off MSRP that equals the amount of interest a 60 month loan would incur.
In other words, the most I would pay is the equivalent of 0%/MSRP. And it'd have to be something I want really bad.

Having said all that, I have a gut feeling that better deals are on the horizon. Continued cooling off, if you will. Holding might just have it's virtue, similar to patience?

 

[Kodiak]

Give Granger Ford in Des Moines Iowa a call. They have 2% under invoice for on lot trucks and 3% under invoice for an order.

Someone here recently had an order show up under 50 days.

You need to run from that dealer you were speaking with and put them on the "Never go back" list.

 

[gregs150xlt]

Sorry, folks, the days of getting $$$$ over what you paid for a F150 are over when trading.

Dealers here are finally off "market adjustments", and are finally giving dealer discounts.

Redstang, maybe $4000 less, but certainly not $4000 over.

 

[turbopilot]

Sorry, folks, the days of getting $$$$ over what you paid for a F150 are over when trading.

Dealers here are finally off "market adjustments", and are finally giving dealer discounts.

Redstang, maybe $4000 less, but certainly not $4000 over.

Just went through the process this week trading a 2021 PB for an identical 2023 PB and came to the same place, around $4k off sticker. Arizona market still pretty strong but I had two dealers that advertised a discounted price on the web site, with no fine print, then slipped in $2k to $3k of dealer adds to the final offer. Walked away. Will not deal with that nonsense.

 

[gregs150xlt]

Just went through the process this week trading a 2021 PB for an identical 2023 PB and came to the same place, around $4k off sticker. Arizona market still pretty strong but I had two dealers that advertised a discounted price on the web site, with no fine print, then slipped in $2k to $3k of dealer adds to the final offer. Walked away. Will not deal with that nonsense.

Its always "Premier Paint Protection", a GPS locator, VIN etching, scuff guards. Gimmicks no one wants. Sometimes its window tint and running boards, but that's $1500. and the gimmicks are $1500, so that's about $3000 grand added to your best deal.

If you press hard enough, you can get the "gimmicks" taken off, but its such a mind game.

 

[turbopilot]

I also used a mysterious Ford $2k discount I got via email. None of the dealers knew anything about it and took them awhile to verify it was real.

 

[gregs150xlt]

I also used a mysterious Ford $2k discount I got via email. None of the dealers knew anything about it and took them awhile to verify it was real.

The dealer should have been to easily find that in their VINCENT system. If it was emailed to you, then they could have used your email address, name, and Zip code to find it.

 

[Liv2Ryd]

Recently paid $58,200 for a loaded 21 Platinum CPO with $29K mile on it in Texas. Sticker was $76K.

 

[RedStang]

Thanks all, glad to see there’s more sanity out there in other dealers than the one I’ve been speaking to.

KBB and Cars.com offered a pretty realistic range on the numbers (one even has >13k miles on it and still asking for $4k over MSRP), and I offered the higher end of that range but no budging on their part.

Fortunately, not in a hurry, so I’ll just continue searching and see where they go next.

Edit: those prices were without any other GPS/added security equipment markup…

 

[Wolf Man]

My Two Cents: to be taken as a grain of salt:

Most buyers/sellers are under the impression that the Kelley Blue Book and other consumer type guides are typically used by Dealers to price out used vehicles.

Although most are good to give you a general idea of 'used car' values and most dealers do have Kelley Blue Books around to show you what you expect to see, there is not a single new or used car dealer that actually use it to set their prices.

Their book of choice is commonly referred to as the Black Book (I do not know it's official name), published by NADA (National Automobile Dealers Association). Of course they use other resources, mainly in-house types but the Black Book is essentially the holy grail to new & used car dealers.

So again only use Kelley Blue Book and others as a general pricing guide and I can just about guarantee you there will almost always be a big difference in prices between the 2 guides.

A final note: Dealers normally will not show you the black book, it's a big secret after all (LOL) but you might be able to find it online somewhere or in your local library.

 

[ks54703]

Thanks all, glad to see there’s more sanity out there in other dealers than the one I’ve been speaking to.

KBB and Cars.com offered a pretty realistic range on the numbers (one even has >13k miles on it and still asking for $4k over MSRP), and I offered the higher end of that range but no budging on their part.

Fortunately, not in a hurry, so I’ll just continue searching and see where they go next.

Edit: those prices were without any other GPS/added security equipment markup…

Put in your zip code and look around your area, find nothing then either expand the search area or change zip codes.

https://www.ford.com/used/about-certified/ford-blue-advantage/

 

[troy12n]

My dad, who has a 2023 302A SuperCab 8' bed FX4 on order just sold his 2018 XLT SuperCab 302A 4x4 with leather interior for $36,000, which I thought was insalely high. It's got low mileage (39k) and is a cherry truck, but damn. Dealer offered him $29,000 on the same truck as a trade-in.

The market is cooling off, but there's apparently still opportunities to sell an older truck for $$$

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