Used vehicle prices, in general, have set several new records over the past few years thanks to a lull in new vehicle production stemming from the COVID-19 pandemic and several resulting, lingering issues. However, through much of 2024, we’ve seen used vehicle prices decline – in some cases, significantly – though that doesn’t apply to every single vehicle out there. In fact, the Ford F-150 isn’t on that list by any means, as pricing for used examples of the popular pickup haven’t dropped by any noticeable margin through the current calendar year.
According to iSeeCars, the average price of a used Ford F-150 model that’s between one and five years old declined by just 0.3 percent in the first eight months of 2023 versus 2024 – dropping from $41,896 to $41,788 over that time span. Additionally, compared to January-August of 2019, used Ford F-150 prices have increased by a whopping 32.9 percent, as they averaged just $31,533 back then. By comparison, the overall used vehicle market has seen its average pricing decline from $34,279 in 2023 to $32,672 in 2024 – a 4.7 percent drop, though it has increased by 47 percent since 2019 – when it was $23,314.
iSeeCars derived this data after analyzing more than 17.9 million one-to-five-year-old used vehicles sold between January and August of 2019, 2023, and 2024. List prices and average odometer readings were tallied and aggregated to compare the share of cars at various price points across the three periods, as well as to compare the average mileage of those vehicles. Overall, this data found that as used car prices have dropped a fair amount since 2023, the availability of sub-$20,0000 vehicles has risen by 30 percent, too.
The Ford F-150 has certainly bucked the overall trend of the used vehicle market, and even its lineup mates – used Ford prices, in general, had dropped by around five percent back in March year-over-year, in fact. Finding a newer, lower-mile, used F-150 for less than $20,000 has also become virtually impossible in recent years, though used Ford Explorer models are falling at a far more rapid rate.
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