Will Broncos Hold Their Value?
Feb 06, 2023
The Ford Bronco seems to be a smash hit which means that the overall demand has severely surpassed even the very best predictions made by Ford. There are numerous reasons why the Ford Bronco is so successful, but as we all know, nothing lasts forever.
If you want to buy a Bronco right now, you will have to overpay by quite a lot, but is that going to last forever, or in other words, will Broncos hold their value? It’s a question that seems rather difficult to answer, but we will try our best to make a precise prediction.
Will Broncos Hold Their Value?
As mentioned in the intro, no one can predict the value trajectory for certain, but the new Bronco seems to be doing more than well, even years after launch. As such, it is rather understandable that the new Bronco is going to retain quite a bit of value over the years.
It is for sure going to fare a lot better than most of its rivals, and even if it depreciates long-term, the depreciation isn’t likely to be severe.
What Affects The Value Of A Car Long Term?
- The Demand
- Trim Levels
- Automotive Trends
How Does Demand Affect Car Value Long Term?
Demand is the true backbone of determining the value of all goods and services. If the demand for an item is higher than the supply, the prices are likely to go up. If the demand is lower than the supply, the prices are likely to go down. The demand for the Bronco is extremely high at the moment which is why these are so expensive from new.
Even so, the demand for the Bronco is partly so high because it is still a hot new car. After a while, people are going to take notice of newer and better SUVs and the demand for the Bronco is going to shrink, and values are soon to follow.
How Do Trim Levels Affect Car Value Long Term?
The new Bronco is available in six different trim levels and with three different engines, some of which are going to retain value better. Models such as the Bronco Raptor with the top-spec V6 and the limited edition Ford Bronco Heritage Edition are likely to retain value the best.
There are a few reasons why. First of all, these are both top-spec models with all the bells and whistles while also being the ones people want the most. Base spec models with scarce equipment lists are sure to depreciate a lot quicker.
How Do Automotive Trends Affect Car Value Long Term?
We’ve seen how powerful car trends can be with the introduction of the electric vehicle. Tesla was merely a start-up company known to very few people before they came out with the Model S and the Model X. Literally in a span of just a few years, these cars have become and remain best-sellers in their respective segments.
If the interest in adventurous outdoor SUVs increases in the coming years, it is also going to push the long-term value of the Bronco by quite some margin.
How Does Rarity Affect Car Value Long Term?
The rarer the car, the more valuable it becomes compared to all other cars. A rare car that has been kept in good condition over the years, and one without an abundance of miles on the odometer is always going to appreciate in value.
Where rarity differs is when cars reach the classic car status. We can see this with the original Bronco as there aren’t too many of those around anymore even though the supply was more than adequate when the car initially came out.
How To Make My Ford Bronco Hold Its Value?
- Maintain It - The first thing you need to pay attention to is maintenance as people are indeed willing to pay a lot more money for a car that has been kept in good shape over the years.
- Go For Safe Specifications - Don’t go for unpopular and niche colors/options if you want your Bronco to be as valuable as it can be. Colors such as Area 51, Cactus Gray, Antimatter Blue, or Cyber Orange are the ones to go for.
- Don’t Drive It Too Much - Too much mileage is going to kill the value of any car. Try not to use your Bronco when You don’t have to as the higher the mileage, the lower the resale value.
Don't Modify It Too Much - A few useful mods here and there are more than welcome while extensively modifying a car is the exact opposite. Thankfully, you can buy the very best Ford Bronco aftermarket mods here.