3 Reasons to Wait Before Buying a Ford Maverick
Are you interested in buying a new compact truck, like the Ford Maverick, in 2023? There are a few significant reasons to wait to make that purchase. The ultra-fuel-efficient Maverick pickup is tempting for many reasons. However, it might be best to wait it out because it’s not the best time to make this purchase. Here are three reasons to wait before buying a compact truck.
1. Compact truck market and availability
We recommend waiting before buying a Ford Maverick because of the current market and availability. You probably already know the story if you’re interested in the popular compact truck. However, if you’re uninformed on the subject, the Maverick is incredibly difficult to buy right now. Since it went on sale a few years ago, buyers have been scooping up the cheapest Ford truck before most people get their eyes on it.
Due to production difficulties, the automaker struggles to keep up with preorders. As a result, people who ordered a 2022 model year Maverick still haven’t gotten it. Many of these reservations were transferred to a 2023 model-year vehicle instead. Thankfully, production for most vehicles delayed due to microchip shortages is improving. As a result, we expect the following year, or longer, to yield much better results. That’s why it’s best to wait before buying until production improves and demand decreases.
2. New compact truck models are on the way
Although the midsize truck segment features many models, the compact truck class is short on options. Only the 2023 Ford Maverick and 2023 Hyundai Santa Cruz are considered compact. Other competitors are larger in size and therefore have a higher starting price. However, with the success of the Maverick and Santa Cruz since their release, other automakers have taken notice.
In the coming years, it’s rumored that we will be seeing at least two new entry-level compact trucks. One of which is a Toyota RAV4 pickup truck. As an insanely popular compact SUV, the RAV4 platform transforming into a tiny truck is the perfect Toyota selection. Alternatively, we’re also rumored to be getting a small Ram pickup. Probably using the name of the old Dakota, it’ll likely be a tiny version of the Ram 1500, looking to compete in the compact truck segment.
With these new models entering the segment, it’s best to wait before purchasing the Ford model. Not only could these competitors be better for you, but they could force the automaker to improve the Maverick to keep it ahead of rivals.
3. Used models are widely unavailable
The final reason to wait before buying a Ford Maverick is that buying a used model will get easier with time. For many, new vehicles are simply out of the budget. Purchasing a brand-new model seems silly to even some who can afford to put out that kind of cash. Why not find a gently used version that costs $10,000 or less? This practice has existed for many years but isn’t possible yet with the Ford compact truck.
The 2023 Ford Maverick has not existed long enough for there to be many used offerings in the market. By waiting a few years, owners will trade them in for newer models and return leases, which increases the supply of used models for sale. As a result, the Maverick will drop in price, especially overpriced ones, because of the high demand and lack of supply. Many new models are coming to the end of their lease within the next year or two, as lease agreements typically last two to three years.
Shortly, the Ford Maverick population will increase in the used car market. As a result, customers can purchase it at a cheaper price than ever before, especially as the automotive industry continues to heal itself from the effects of the pandemic.
Wait before buying a Ford Maverick
In conclusion, it’s probably best to wait before buying a Ford Maverick. Although tempting, the segment will improve over the next few years. Models like the Ford compact truck are challenging to find right now, especially for the MSRP price. Additionally, automakers like Toyota, Ram, and more will soon release competitors, offering more options and forcing Ford to improve its model. Finally, a good price for used Ford Maverick models doesn’t exist, but with more entering the market soon, prices will drop as availability increases.