Are you trying to get rid of your old pickup truck? You’re not alone. Americans are expected to buy over 14.8 million new cars this year, which means they’ll need to get rid of their old ones.
However, it often confuses car owners as to how to maximize their resale value. Fortunately, we can help, starting with the most popular truck in the world. Here’s how to sell your used F150 for the best price!
Used F150 Pricing Guide
First, let’s talk about the ballpark you should expect for your Ford F150 resale value. On the low end, you’ll have junk vehicles that were in an accident, require major repairs, or have past their lifespan. The high end will represent a fair market value for the vehicle in good condition.
For a 2004 to 2006 Ford F150, you should expect to sell anywhere from $2,000 to $3,700 if it’s drivable. For a junk vehicle, you can expect anywhere from $300 to $1,500, depending on its condition. Keep in mind, a vehicle dying of old age is more valuable than a totaled one!
From 2007 to 2009, you should expect a drivable vehicle to sell for $3,600 to $4,900. Junk vehicles from this era should sell for $300 to $2,000, depending on condition.
2010 to 2012 F150s should sell anywhere up to $14,500. Yes, that’s a big jump, which is exactly what you saw when they were selling new in that era. A junk vehicle from this time should sell for up to $3,000, depending on its condition.
In the 2013 to 2016 period, Ford began adding many luxury features to its vehicles. As a result, an F150 from this period could sell for up to $26,000 with low miles and great condition. For a junk vehicle, you could still expect up to $5,000 or potentially more.
In good condition, more recent models should sell for over $20,000 easily. 2018 F150s still sell for over $30,000, and 2021 for $38,000 and up. Junk versions of these are rarer, but they are also quite valuable, so get a cash offer and see!
How to Sell My F150
Now that you have a rough idea of the sale range in mind, let’s put this plan into action. Here’s how to sell your used F-150 for the best returns!
Make Sure You Have the Title
Regardless of how you sell or who you sell to, you need to have a clean title with no liens. You also need to have a physical copy of it.
Therefore, if you currently make monthly payments on your auto loan, you will need to close this balance before selling. You can do this by rolling over your balance onto your next auto loan or simply paying it off with cash, card, or wire transfer.
After that, your lender will notify the DMV (or RMV or BMV, depending on your state), which will send you the title in the mail. This usually takes five to 10 business days to arrive, so plan ahead for that.
Assess Value Ahead of Time
First, you need to assess the value of your F150. There are several ways to do this, and we recommend starting online with a little research.
While the Kelley Blue Book value isn’t perfect, it is a fair measurement if you’re planning on selling to an individual buyer. The KBB value is likely where that buyer will start.
Otherwise, you can have a professional appraise the vehicle. This may cost some money, but it’s worth it if you’re unsure about a fair price in its current condition.
However, even junk F150s still have some value, as it’s the most popular pickup truck in the US every single year. Therefore, even selling it as junk should yield a decent return, as the parts still have value.
Decide If Repairs Are Worth It
If you have a used vehicle that you think needs junking because of major repairs, consider the cost of repairing it and the potential benefits. In some cases, this may work out in your favor.
For example, if you spend $1,000 on a new suspension system and clean your car out, but it sells for $2,000 more than if you junked it, then why not? You can make an extra $1,000 for very little work on your part. You can always talk to a trusted mechanic to see what they quote.
Of course, this isn’t always the case, and you may not want to spend the money or go through the process. Still, it’s best to look into your options before making a decision.
Assess Your Options
If your F150 still runs and doesn’t need any major repairs, then you have two primary options; trading it in or selling it to a private buyer. Obviously, the latter will yield a higher return on average. Dealerships typically discount 30% or more of the market value for their trade-in offers.
Conversely, if you have a junk vehicle, your options are to either sell it to a junkyard or sell it for individual parts. Unless you have the tools and skills necessary, the latter is a challenge. Still, this will certainly yield the highest return if you have the time, space, and capacity to wait for individual buyers and sell each individual part online.
Otherwise, junking the vehicle is the way to go. However, you shouldn’t settle for the standard $300. F150s are valuable, even as junk, and you need to avoid junkyard scams at all costs.
Scams are rampant both online and offline in the used car industry. It’s essential to avoid junk car scams from so-called “junkyards” and “private buyers”. Make sure you look for red flags when communicating with potential buyers.
First, avoid any suspicious pricing. If you list a vehicle at $3,000 and someone offers you $6,000, this is a red flag. They may offer a wire transfer or something misleading to that effect, so don’t give out any bank information.
Second, look out for common scam tactics. If the buyer won’t talk on the phone or meet in person for the sale, this is concerning. If they ask for a code that’s sent to your phone, don’t give it to them.
From there, just make sure that you don’t give out any personal information to buyers and that you only accept cash. This is the best way to protect yourself from scammers!
Getting the Most Value Out of a Used F150
Fortunately, the used F150 value is quite high compared to other vehicles of its class. The F-150 alone (not the F-series) generates over 90% of Ford’s profits because, well, it’s their best. Ford F-150s are well-known to perform and last for a long time.
On top of that, used car and truck sales have generally risen over the last decade. Now, many used cars sell for $25,000 or more, even from five or six years ago.
Consequently, used F150s tend to sell for pretty high prices, assuming there are no major issues. If it’s in good shape, we recommend washing it down and listing it online for a third-party sale. This will offer far more value than a trade-in, and you can set what you think is a fair price.
However, if the vehicle cannot drive or needs major repairs (engine, transmission, etc.), then you may not get to resell it. Fortunately, you still have options.
What If My F150 Is Junk?
You can still maximize the value of your F150, even if it has a rusted undercarriage and a garbage transmission. Cash Auto Salvage can make you an offer today and come take the truck off of your hands. That’s right, you can receive a cash offer on your F150 at the highest possible value, and you won’t need to pay to have it towed anywhere.
Before you do this, there are a few factors you need to know. This includes appraising your car to see if making the repairs are worth it, getting your title, avoiding junkyard scams, and more. Check out our car-selling guide to learn more!
Get an Offer Today
Now that you know how to sell your used F150, put these tips to use today and get the best deal possible. Selling or junking a vehicle doesn’t have to be too challenging, as long as you actively look to avoid scams and find the right deals. Once you’ve found a reputable buyer, you can get some money back for your troubles!
Stay up to date with our latest auto news, and don’t hesitate to contact us with any questions or to get an offer on your pickup truck today!