I agree. I split the difference- took the hood decals off, kept the bedsides.
2022 800A Rapid Red for Sale
- Thread starter Zurg2330
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I hope so, I want the R my final new truck purchase. Seen the Denali all electric prototype sorry to say it is pretty nice.
V8 Goat
Full Access Member
I'm assuming the OP sold this truck to Vroom. They listed an 800A Rapid Red with 1,100 miles this morning - and it's a sweet deal! It's only $88k. 
I pulled the original window sticker for reference - it was $69,595. It has Convenience, Torsen, Spray Bedliner, and AutoStop Delete.
Strap in boys - it isn't pretty out there. That's almost a $20k ADM on a USED base trim Raptor...
I pulled the original window sticker for reference - it was $69,595. It has Convenience, Torsen, Spray Bedliner, and AutoStop Delete.
Strap in boys - it isn't pretty out there. That's almost a $20k ADM on a USED base trim Raptor...
Yoshi
Full Access Member
On new vehicles most banks ltv is below msrp and depends on your credit score. You'll need to a minimum 25k or more down for a 88k raptor with an ltv below 70k on new vehicle. Not sure on used. 2 years from now the buyer's guaranteed negative equity if the truck's market value is 60k.I'm assuming the OP sold this truck to Vroom. They listed an 800A Rapid Red with 1,100 miles this morning - and it's a sweet deal! It's only $88k.
I pulled the original window sticker for reference - it was $69,595. It has Convenience, Torsen, Spray Bedliner, and AutoStop Delete.
Strap in boys - it isn't pretty out there. That's almost a $20k ADM on a USED base trim Raptor...
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V8 Goat
Full Access Member
Without a doubt any buyer will be looking at negative equity in the future. And as you mentioned, most banks cap LTV around 115-120% (vs MSRP on new and books values on used). However, in the instance of a used truck, the books actually support a 'value' in this crazy range, so a buyer may potentially be able to purchase this truck without a significant of money out of pocket. Banks are pretty transactional when it comes to auto loans. The MSRP of this truck is essentially irrelevant to the bank - they are only looking at its current value, which according to the books, is between $85-90k.
Yoshi
Full Access Member
If that's the case, now I see how so many people end up "upside down" on loans.
V8 Goat
Full Access Member
Yep. I think it's almost criminal what the banks will allow.
Think of it this way. A new Black Label Navigator is about $100k MSRP. TT&L in Texas would be about $7k on that. If you were to buy GAP insurance, warranty, etc - maybe some BS dealers adds like Nitrogen and door edge guards and whatever else... That could easily get you to $110-115k.
Under normal circumstances, your vehicle would depreciate 10-15% the day you buy it (not in today's market but maybe when supply and demand isn't so out of whack).
In that case, when you walk out to the door you'll owe $110k on a vehicle that's truly worth $90k. And that's exactly how people get so upside down. But if you have good credit, the bank will happily advance you 115% of the MSRP... The bigger the loan, the more they make in interest...
BaseRaptor
Full Access Member
Automobiles are a depreciating asset minus a few exceptions such as Porsche GT3’s, some V8 Mustang trims, etc.
It will get interesting when the smoke clears and vehicle inventory and pricing gets back to normal is 2-3 years.
It will get interesting when the smoke clears and vehicle inventory and pricing gets back to normal is 2-3 years.
It's not the banks fault. Blame the parents. Blame the schools. The way to keep people from acting stupid is to help them be less stupid.
I was just going to say the same thing. Would crack me up back in the housing bubble fiasco of the mid 2000’s when people would tell me “my bank says I can afford this“.
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