Buy New 2023 Ford F-150 Raptor R for $186,240 or Used One for $179,999, Dealer Markup Is TRX Money

The Manufacturer Suggested Retail Price (MSRP) for the supercharged V8-wielding 2023 Ford F-150 Raptor R sits at $109,145 and it comes almost fully loaded. Don’t let anybody tell you otherwise, dealers included. Not that dealerships will ever try to hide the MSRP. Heck, most of them are even transparent when it comes to ADMs (Added Dealer Markup). Case in point with this Raptor R, which carries a markup of $75,000. Alas, this isn’t an exception, and we’ll explain it all below.

To start with the present—and harsh—reality, the Agathe Black Metallic 2023 F-150 Raptor R sitting on our screens is offered for $186,240. The truck is sold by Gordie Boucher Village Ford of Thiensville, Winscounsin (hat tip to Instagrammers the_xcalibur and offroadtv for spotting the vehicle online).

The vehicle packs the moonroof and (power) tailgate package. At $2,195, this is basically the only big option you can add to a Raptor R, as the various colors come at no extra charge. Oh, and in one of the interior pics posted by the said dealer, the odometer shows 32.7 miles.

Those are the kind of details a person who’s actually interested in buying the inflated-price Raptor R could use. Alas, even though that Raptor R markup is almost the equivalent of a brand new, base-spec 2023 Ram 1500 TRX ($83,890 MSRP), it’s almost certain that somebody will buy this Ford.

Why are people paying silly money for Raptor Rs?

Back in 2009, the original Ford F-150 SVT Raptor marked the switch from the road-biased performance trucks that had been around for decades to an offroading-savvy go-fast pickup. However, the V8 firepower of the super-truck was alive and well at that time, albeit in naturally aspirated form.

However, before the supercharged V8 madness that is the Ram 1500 TRX entered production in 2020, the Raptor was alone in its segment—even if you wanted an electric truck for its massive straight-line performance, the market had almost nothing to offer.

This explains why Ford could drop the OG Raptor’s N/A V8 in favor of twin-turbo V6s for the 2017-2020 Gen II Raptor and the 2021+ Gen III Raptor. The improvement in the EPA ratings meant less financial trouble for the carmaker, while fans of factory-built, road-legal Baja trucks were left dreaming of a Raptor that would match the firepower and feeling of the TRX.

All that changed in July last year when the 2023 F-150 Raptor R was announced. This borrows the supercharged 5.2-liter Predator V8 of the GT500. And, thanks to a smaller supercharger pulley and different engine calibration, the unit makes slightly less power, but more torque, especially down low, offering 700 hp and 640 lb-ft of twist and using a ten-speed automatic.

The Raptor R hit dealers late last year. By that time, many aficioandos had already put their names on waiting lists. And while nothing is official, production for the R seems to be somewhat limitd, at least based on the number of units you can (or rather can’t) find online.

This is part of a larger Blue Oval policy aimed at increasing profitability—another example of this involves the Ford GT supercar, which went from a bargain Italian exotic rival to a similarly-priced competitor while transitioning from the 2004-2006 Gen I to the now-retired 2017-2022 Gen II.

And that is why if you, as a reasonable person, decline the possibility to grab one of these price-boosted Raptor Rs, it’s likely that somebody will be silly enough to do it.

You can also blame individual flippers and used vehicle dealers

Ford dealers aren’t even the only culprits here. For one, the high desirabilty—this should be the last V8—and the limited numbers mean there are also buyers or used vehicle dealers who only get these Raptor Rs to flip them.

For instance, and we’ll travel to Michigan for this one, Carmart, a dealership whose site description reads “quality, pre-owned vehicles at fair prices” is currently offering a 2023 Ford F-150 Raptor R with 69 miles on the clock as a used vehicle. The price? Admittedly, this one is a bit cheaper, since it comes at only $179,999—there’s an Instagram post advertising the vehicle here. And you’ll find pics of the gray Raptor R in the second part of the gallery, along with a screenshot of the website (for some reason, it would only load poorly) showing the price.

How are the markups/flipper profits for the standard 2023 Raptor and TRX?

The standard 2023 F-150 Raptor isn’t immune to markups either. The truck, which packs a 450 hp TT V6, has an MSRP of $76,775. And, if you look online, you’ll find many examples offered with ADMs ranging between $10,000 and $20,000.

However, the chances of finding a normal Raptor that’s being sold at MSRP seem greater than in the case of the Raptor R. And, while we have no exact numbers, these chances are even better for the Ram TRX—even saying this feels wrong, since one should never be forced to choose their super-truck based on dealer markups of flippers skewing the market.

What is Ford doing about the Raptor dealer markups?

As far as the 2023 F-150 Raptor and Raptor R are concerned, Ford doesn’t seem to have managed to limit inflated prices in any way. Perhaps the only consolation for somebody looking to grab such a truck is the fact that it should maintain its value well.

For one, that V8 Gen I Raptor came with an MSRP of $38,995 or $41,995 over a decade back—the first price was for the initial 5.4L, which was quickly replaced by a noticeably more potent 6.2L, hence the second figure. And, if you’re looking to to grab one now, a good-condition example should come at an average price of $45,000.

Nevertheless, the automaker has taken certain measures in a bid to limit the said negative market “habbits” for its ever-increasing number of EVs.

Last year, Ford introduced two measures aimed at limiting dealer markup and customer flipping of its vehicles, practices that can obviously have a negative impact on the carmaker. However, as stated, these are targeted at EVs only.

Back in 2022, the company has split into Blue Oval (combustion-powered vehicles, including all forms of hybrids) and Model E (electric-only vehicles).

In short, if a dealer aims to sell EVs, it needs to meet the more stringent Model E requirements. This includes offering vehicles online at prearranged prices and allowing shoppers to complete the process on the internet and have the machines delivered to their homes, and maintaining those values for in-person sales.

In addition, Ford is offering dealers a legal way of preventing F-150 Lighting customers from reselling the battery-powered truck within the first year of ownership. However, the dealers get to choose whether such a clause is included in a buyer’s contract.



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