2015 Ford F-150: Sold to Carmax
by Mike Schmidt, Vehicle Testing Manager on May 19, 2016
At last our road test of the 2015 Ford F-150 reached its end. The only thing left to do was sell it. Our first step was to take it to Carmax for an initial appraisal. This turned out to be our last step also. Here's why...
Edmunds TMV Calculator valued our F-150 Lariat at $32,506 as a trade-in. That figure accounted for 35,105 miles and the multitude of options on our custom-order truck. We kept the number in mind as we walked into our local Carmax store. Without an appointment we waited just 10 minutes for somebody to see us. Another 10-15 minutes passed and the appraisal was complete.
The Carmax offer was $37,000. It was even better than the TMV private party value of $35,249. According to the appraiser, he had not seen an F-150 with the Ecoboost engine yet. Perhaps its rarity played to our advantage. But regardless it was a promising place to start.
Before accepting we checked around. Autotrader had a handful of similarly equipped trucks with fewer miles and lower asking prices. None of which was close to the dollar amount of the offer in our hand. That was really all we needed to see. We returned to Carmax and sold the truck the next day.
After 16 months and roughly 35,000 miles our F-150 depreciated 29 percent.
It is difficult to draw a direct comparison based on the mileage disparity, but for reference our most recent full-size trucks retained their value as follows:
2014 Chevrolet Silverado with 25,000 miles depreciated 24 percent.
2014 Ram 1500 EcoDiesel with 50,000 miles depreciated 37 percent.
With the sale of the Ford our long-term fleet is without a full-size pick-up truck. It's time to start considering its replacement. If only there was a notable competitor in this segment for us to test next.
Mike Schmidt, Vehicle Testing Manager @ 35,105 miles