The used vehicle market is absolutely INSANE. It won't get any better until manufacturers are able to re-stock new inventory, which will hopefully be in the 3rd quarter, if not 4th.

Below is a screenshot of the madness I'm witnessing. This is a 2018 F-150 Crew Cab Platinum 4x4 with just under 33,000 miles. It's a one owner, no accident, no story, etc truck. It has a condition report of 4.3/5, which translates to about $500 of needed reconditioning.

MMR, or average auction price for this truck is $48,500 (which is insane). NADA Clean Trade-In Value is $48,300. The average price listed on Cars.com and Cargurus.com is $46,214/46,688. So yes, the average auction price is $2,000 higher than the average selling price.

This sold to Bill Knight Ford in OKC for $51,500. On top of that, they will have to pay a $425 auction fee, and between $300-350 to ship it from KC to OKC. So before they recondition it, they will own it for almost $52,500.

When this truck was new, it had an original MSRP of $65,315 and a dealer cost of $58,930.28. Then there were at least $1,000 in rebates, if not $2,500. So worse case, you could've purchased this truck for $58,000 or so....3 years and 33k miles ago.

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