Here is the deal. I have wanted an F150 since the new body style came out in 2004. Specifially, a FX-4 extended cab, preferably with step-side bed, and the center console shifter. But I was $4,000 upside down on my trade in for so long and it put the notes well outside of anything I could afford.

Well, 3 months ago I paid off my current vehicle ( 2000 Mitsubishi Montero Sport ). I will not trade it in, instead I am giving it to my sister.

Last weekend I spotted a truck at one of the local dealers on the used lot and I went to take a look.

2004 FX4 extended cab stepside. Yellow primary color with the charcoal two tone down low. Black leather interior that the rear seat doesn't look like its ever been used, and the front seats have only light creasing on them. Power rear sliding glass. Not a scratch or dent externally. Few small scrapes on the silver center console piece around the shifter and cup holders. The catch = 70,548 miles and they are asking $15,995 and they came down to $15,499 when I told them I thought it was a bit much. They do not seem to want to budge from that number.

Does this seem like a fair deal to you guys?

 

This is 4 to 5 years old and 70K miles . Some of the guys on this board are paying $21K out the door for Brand new 2008 FX4's.
In my area, you can buy a 2007 SuperCab or Crew with under 30K miles for under $13K from a dealer. Yes, these are prior rentals and are not flaresides. The good news is that they have some factory Warranty left. I bought one of these in January for $17K. Mine had less than 19K miles on it and 2 years of Warranty left. I think it may have been one of my best deals ever. The price has dropped a lot since my purchase.
You are looking for something pretty specific. This limits your options. Maybe it is worth $16K to you, but not anyone else. In this case, you will likely be upside down again.
If you finance this thing for 5 years, think how many miles will be on it by the time you pay it off. Will you still be in love when it has 150K miles on it?
Personally, I think it is a high price for the age and miles. I like to start with something a lot newer. For $16K, you have a lot of choices that are only a year or 2 old.
Good luck.

 

Yeah thats kinda what I figured. Despite gas prices and the value of these trucks dropping, the dealers still want alot for them around here. What they told me was they want what they gave for it in trade, but they did not give a guy $15,500 when blue book has it at $11,200 on the high side, and as low as $7,800 trade in. They claim they were asking $20k 2 weeks ago on it ( and indeed every V6 and v8 vehicle on their used lot claims at least a $6,000 drop on the windows ).

I will call them Monday and try to haggle some more. Its a very nice truck, but with that many miles I just dont see it. Wonder if they will do $10k

 

$10k sounds fair.. Gotta realize this truck was probably originally about $35k msrp.. Then again.. it has 75k miles on it..

If you're willing to pay a little more, I say buy new.. we have dealers around here discounting up to $17k off supercrews, you should be able to find a nice XLT with amenities for right around $20k.

 

If it has the 5.4, try to find out if the plugs have been changed. That will need to be done right away if they haven't and can be a headache.

 

I do not see what area you live in.
It might be worth it to travel to a more populated area to get a better deal. A lot of dealers have their inventory online.
Is it worth a day trip to save thousands of dollars?
Get a loan pre-approved through your bank or Credit Union or AAA and set out to find your best deal. No trade and pre-approved financing means you only need to agree on a price for the truck you want.
The dealer telling you how much they 'need' to get means nothing. They need to lower the price until it sells. Period. BTW, the dealer does not care how much you paid when you trade it in. They give you the price that works for them. Dealers usually pay under trade-in value. I would bet the dealer gave less than $7K for the truck you are shopping for.
I found my truck at www.reynolds1915.com.
Also look at www.carmax.com. Carmax is higher priced, but very good quality used cars. They will not haggle. they do give a WARRANTY. My son was a salesman for them before he joined the Navy.
Good luck.

 

when i traded my 02 f150 supercrew lariat in last november. the low side was 6500 and high was 10500 on trade in. had 139,000 miles. look incredible. ended up getting 6250 for trade in. so im sure they paid the bare minimum for that truck your interested in.

 

I live in Laurel, Mississippi. The truck is in Hattiesburg, Mississippi.

I have priced 6 dealers within 50 miles for new F150's, and all 5.4L engines have a sticker of $29,000 or more, Lariats and FX4's go for over $36k. This is before they do the $7500 rebates that all are offering through Ford Motor Credit. None of them seem willing to do more than that right now on new ones.

As I said, I have been wanting one of these since the new body style came out in 04. At the 2 most local dealers I have been visiting them every couple months for the last 4 years to see if they are willing to work with me. At one of the dealers all of them know my current vehicle if they were to see me driving down the road and all know me by name. None of them will speak to me about buying, they just ask me how I am doing. Its a bother to them to talk to me cause they know they won't meet what I have been looking for price wise.

Spotting this one by pure chance that fits almost exactly what I have wanted to renewed my search. I realize I will have to go used to get a payment in the range that I am looking for right now.

 

I was thinking more like Houston, TX or maybe even Dallas, TX.
Maybe even find your truck online and just go buy it.
A lot of guys in TX are talking more like $9K to $12K off of the higher end F150's. The rebates are only part of the price. The dealer also has to discount.
Just for laughs, try a site called www.carsdirect.com. They also have an 800 # you can call for help.
I am thinking your area is less populated with less dealers and less competition. This means prices are higher.
I live in L.A. I think I have 6 dealers within 15 to 20 miles of my house. Our dealers would try to sell you everyday if you walked on the lot. The salesman would be fired for just saying hello and not trying to sell you something.
Good luck whatever you choose to do.

 

You can get better financing on new vs. used, you may be able to get your payments down to where you can handle them.