Used Ford F-150 Models Are Surprisingly Popular
It doesn’t matter if you’re in the market for a new or used vehicle. Either way, the Ford F-150 is still the most popular full-size truck. While it has been the best-selling new option for years, used Ford F-150 models flaunt similar success.
Why are used Ford F-150 trucks so popular?
Used Ford F-150 models maintain their dominance as the most popular used vehicle to buy in 2023. It’s responsible for 3.3% of used vehicle sales during the past five years. Plus, it represents 21.9% of used truck sales with models between one to five years old.
On the list of the top 20 most popular used vehicles, the Chevy Malibu came in last with 1.0% of the market. On the list of the most popular used trucks, the GMC Sierra represents 8.1% of used truck sales. So, the F-150 has an impressive lead.
The used F-150’s popularity could be attributed to common sense. Typically vehicles between one to five years old are cheaper than brand new ones.
But with the pandemic, rising inflation, and supply chain constraints, used models were easier to get. Production delays limited new models from rolling off the line and some people paid more used options instead of eating for a new truck.
Also, the F-150 has a history of being tough and reliable, even if things are currently on a downswing. According to J.D.Power, the 2023 Ford F-150 has a reliability rating of 78 out of 100, which is average.
People are attracted to the versatility of the F-150. The 2023 model has eight powertrain options available, including hybrid and electric variants. You can configure the F-150 as a basic work truck, beastly off-roader, desert racer, or luxurious family hauler.
The 2023 F-150 can tow up to 14,000 lbs and carry a payload of up to 2,238 lbs. The Power Pro Onboard generator can power tools, devices, and entire campsites to simplify work and play.
You can’t forget about the resale value either. The 2023 F-150 has an estimated resale value of 24% after five years of ownership. So, if you bought your truck for $59,650, it could maintain a resale value of roughly $45,328.
Plus, the Ford F-150 has brand recognition. People recognize the name and logo that has been popular for decades.
