Buying used in Q4 2022?

[jwuonog]

I looked at a few new 2022 Explorer STs, they were about 66k OTD. That is a little more than I want to spend right now, so I have been considering used ones.

With the current state of the market, and high finance rates, has anybody been able to score a good deal on a used 20 or 21 Explorer ST?

 

[DaveG ST]

I looked at a few new 2022 Explorer STs, they were about 66k OTD. That is a little more than I want to spend right now, so I have been considering used ones.

With the current state of the market, and high finance rates, has anybody been able to score a good deal on a used 20 or 21 Explorer ST?

Likely only good deal is going to be on one with high mileage. Possibly a deal could be had on a left over 22', but my local dealer only has 23's in stock. Also need a good trade in and cash to avoid the finance charges.

 

[Maven]

I looked at a few new 2022 Explorer STs, they were about 66k OTD. That is a little more than I want to spend right now, so I have been considering used ones.

With the current state of the market, and high finance rates, has anybody been able to score a good deal on a used 20 or 21 Explorer ST?

Have you called to dealers from neighbor states? I got mine ST 2021 with 30k miles for $34k

 

[jwuonog]

Have you called to dealers from neighbor states? I got mine ST 2021 with 30k miles for $34k

That would be amazing if I could find a deal like that. Did you purchase recently? What state did you purchase in? I'm in Maryland.

 

[CornFarmer]

66k? I'm assuming that is based on a 61K ish sticker price? Don't get screwed. Some dealers are a waste of time, but I bought a brand new one with cash yesterday. (Love it so far BTW) Sticker was 61,755. They gave me the average KBB and JD for my trade and I got over 3K off the sticker. I was prepared to walk out the door and when they gave me their first offer of the OTD difference I said well, we are clearly not going to make this work as we are nearly 4G apart. They ended up coming down $2600 and I ended going up $400 from what I was actually wanting to pay. That being said $400 to stay local and not drive hours was worth it.

I explained how the last vehicle I bought at the beginning of 2020 I paid cash l, and bought a 2020 Silverado for 19% under sticker price and that I realize those days are in the past but I am here today and you have the chance to sell me a car right now and I won't be back if we can't meet. Worked for me... Worked last time too.

 

[Chamorro85]

Cash will always be king! Always a huge bargaining tool!

I got mine in February and went used because I refused to pay the markups on the new ones. I’m in NJ and had car brought up from Florida once I found mileage and color I wanted. Almost drove to PA to pick one up but they weren’t willing to work on price. Diff between Florida and next state over was well worth the wait!

if you’re not in a rush just keep checking. Don’t skip the online buying sites. Carvana, Vroom, etc. No markup and super easy process.

 

[CornFarmer]

Used car prices are starting to drop quickly. Just be patient if buying used. Even if financing I'm betting the increase in rates will be worth it a year from now when prices are considerably less. Better yet - save your $ for 6 months or a year and then buy when things get closer to normal and have more $ to throw at it or maybe even all the $. Car payments are silly. I can understand a mortgage but a car payment???!!! Come on!!!

 

[jwuonog]

I've been watching the used Explorer ST market in a 500 mile radius like a hawk for the last 3 months. I came close to pulling the trigger a few times, but was often too late. Most of the vehicles I've seen were leased 2020 A builds being returned. Sometimes they were B builds. Prices slightly dropped over the last few months.

I will keep watching the market and hopefully scoop up a used C or D build in a few months, as those get returned.

 

[Liver]

@jwuonog - Just like you I've been keeping an eye on Explorer STs for the last year or so until my 2010 Taurus SHO engine blew up about 4 weeks ago. It was either pay $10K to fix my engine with new turbos or spend it towards a new ST. Well, found a car I had to pursue here in Florida about 3 hours away from me.

Here's what I bought on 3/3/23 for $53K OTD! Car was built arrived to delaer on 10/2022, new owner returned it after 3,200 miles, CPO, Ford gold certified, AWD, 401A, ST packages, Entertainment package headrest monitors, including massage seats. I ordered Borla Exhaust System S-type will be installing it this weekend then afterwards will wrap the roof in black. T

 

[Chamorro85]

Nice pickup! Rough way to get a new vehicle but you're here now! I'm jealous of the headrest entertainment. Haven't seen that before. Dealer option or is it available only on the '23?

 

[Liver]

@Chamorro85 - based on the build sheet it's an option for $1,995. Funny thing, never been a fan of headrest monitors but it was a nice added bonus. I said to myself, "i can have my grandkids enjoy the monitors".

 

[jwuonog]

Wow, my kids would love to have those headrest monitors! I ended up picking up a used 2020 with only 20k miles on it for 42.8k last month.