8 Top Factors Affecting F-150 Resale Value
The F-150 is one of the most sold trucks in the United States, and rightly so. This powerful workhorse of a mid-size truck is one of the most reliable and practical vehicles available to consumers, so if you’ve got one to sell, awesome! This blog will give you an overview of the different factors that might affect the resale value of your F-150.
1. Age of vehicle
The model of a vehicle is important, but the year that it was made matters too. The design and build of the F-150 improves or changes every year, and those various changes age better or worse than others. If you’ve read one of our articles outlining the various model years of the F-150, you’ll know that some vehicles age better than others. See what model year you have, and do your research about it, to see what it’s *really* worth.
Mileage is one of the most important and also the most stressful metrics when evaluating whether a vehicle has resale value to anyone other than a junkyard. Every mile a vehicle has been driven the fewer miles it has for the future. As a general rule of thumb, the more miles on the vehicle, the lower the resale value.
Maintenance history is another important factor in determining a vehicle’s value. Well-maintained vehicles last longer, perform better, and have better resale value. Whether or not your vehicle has been well-maintained however, getting it inspected and reviewed by a mechanic will go a long way towards improving its resale value.
Whatever bells and whistles make a car more or less attractive to buyers, the first go-around can end up influencing resale value too. If you’re curious about what some of these features might be valued at, a quick Google search can likely yield some answers.
Some potential features that can raise the value of a vehicle include:
- Aluminum wheels
- Leather interior
- Navigation systems
- Custom additions
Backup cameras are a solid way to increase the value of your vehicle, especially if your car doesn’t have one already. You can see how to install backup cameras in this blog, and browse our inventory here.
The “trim level” of a vehicle refers to the level of features that the vehicle has. They’re often hit with model names like: DX, LX, LS, EX, GL, SE or GT. The Ford F-150, as is currently sitting in 2020, has 7 trim levels: XL, XLT, Lariat, King Ranch, Raptor, Platinum, and Limited. Figuring out the trim level of your F-150 can go a long way towards determining what a fair price is for the truck.
The engine and the maintenance of it are important to the life and value of the F-150. A well-maintained engine is always a positive selling point. While some owners think that replacing an engine with a new one is a good idea, often this can harm the value of the vehicle, because it signals to buyers that something in the vehicle’s life caused engine failure. Not a reason to skip replacing an engine, but a good thing to know regardless.
The transmission of a vehicle can alter its resale value. Is the transmission well maintained? Is the vehicle a manual or an automatic transmission? Automatic transmissions are generally a little more popular because of their ease of use, and automatic transmissions tend to be more fuel efficient, but that doesn’t necessarily mean the value will be affected. This is a top factor, but not the highest one..
This might seem like a silly category, but the color is a factor in the resale value of a car. Statistics show that red cars are pulled over by the police more often than other types of vehicles. White, gray, and black cars are often used in advertisements because the neutrality of these colors is more appealing to mass audiences. Everyone has a favorite color, and a least favorite color, which sways their purchasing decisions, even on big purchases like a car. Color affects the value of a car, but it’s not the end of the world if you have a red car to resell.
Models with Best Resale Value/Lowest Depreciation
2015 Ford F-150
A well maintained 2015 F-150 can sometimes resell for between $16,795 - $37,988, which is a tidy sum. Part of this vehicle’s value comes from its strong power and excellent fuel economy, coupled with impressive payload and towing capability. You could do much worse than a 2015 F-150.
2018 Ford F-150
The 2018 F-150 offers a choice of four different engines, a fuel economy of up to 22 MPG, and a towing capacity that can reach up to 10,800 pounds. It features a backup assist system for towing and a number of other amenities. It’s the lightest truck in its class for that matter, and Edmunds named it one of the best-used trucks of 2018.
The F-150 is a heck of a vehicle, and whether you’re looking to buy or sell, you’ll likely find a good deal regardless of where you turn. But, the factors in this blog will help you see if you’re making the best choice. There are plenty of other factors that we didn’t include in this blog, and a combination of all those factors affect the resale value of a vehicle. It’s impossible to know them all, but it sure does help to know at least some of them. A back up camera can help increase the value of a truck, and improve the overall driving experience. If you’d like to try out a backup camera on your existing vehicle, we can help with that. Get in touch with one of our customer associates, or browse our product line today!