Hey everyone, I’ve been looking into getting a used F150 with under 40k miles and noticed something strange. A brand-new 2024 STX is listed for $43k (with dealer discounts), but used 2021 or 2022 models with 30k miles are priced at $37-38k. Even ones with 50-60k miles are still around $35k.
Am I missing something here? Why are these used prices so close to new ones? Is it better to wait and see if prices drop, or is this just how it is now? Honestly, I feel like a 3-year-old truck with 40k miles should be closer to $32-34k. What do you all think?
Dealerships are trying to clear out new inventory because sales have been slow this year.
Also, some buyers just can’t qualify for the extra $4-5k needed to get a new truck with decent financing. Dealers know this, so they keep used prices high for those buyers. I wouldn’t expect a big price drop anytime soon—too many people are okay with taking on a car payment.
This is mostly because of how crazy the market was during 2021 and 2022. Back then, trucks were selling at full sticker price or even higher. Ford also raised prices on XLT and Lariat trims by $10k during that time.
Now, discounts are bringing new truck prices back to normal, but those used trucks you’re looking at were bought when prices were sky-high. That’s why they’re still listed so high.
If I were you, I’d grab that new STX for $43k. It’s a great deal compared to paying $38k for a truck from 2021 or 2022.
Cole said: @Tatum
I had a 2017 STX that I bought new for $34k. I put 40k miles on it and traded it in during 2021 for $29k. The market was insane back then.
Same here. I sold my 2020 XLT for $34,500 early last year, and the dealer resold it for $40k after some reconditioning. These 2024 STX models are looking like the best bang for your buck right now.
Cole said: @Tatum
I had a 2017 STX that I bought new for $34k. I put 40k miles on it and traded it in during 2021 for $29k. The market was insane back then.
I sold a Lincoln MKX during that time for more than I paid for it. It was a wild market.
I remember this same thing happening back in 2012 when I bought my truck. A brand-new one with more features was only $5k more than used. It just makes sense to go new in those situations.
The F150 has solid reliability, but its resale value is lower because it’s the most popular vehicle in the country. There are just so many used ones on the market, which keeps prices from dropping too much. Simple supply and demand.
Expand your search! I just bought a 2023 XLT with 38k miles for $36k. It has everything I needed, like the FX4 package and trailer tow package. The dealer was 650 miles away, but it was worth the drive. An independent mechanic checked it out for me and said it was in great condition.
@Finley
Exactly. My house is financed at 2.49%, and my Lincoln Aviator at 2.59%. At those rates, paying them off early doesn’t make sense when I can earn more investing the money.
I’ve been thinking the same thing. Used prices are so high, it almost makes more sense to go new. But I’m holding off for now—hoping prices on both new and used drop soon. If not, I’ll just wait. No rush.