They can also easily afford to do so.
There's no doubt the reborn, retro-styled Ford Bronco is a hit. It's also the biggest threat to the Jeep Wrangler in years. Despite a few early production issues such as defective hardtop roofs, the era of the new Bronco is well underway. Many buyers have been placed on waitlists, meaning they won't take delivery until sometime next year. The 2022 models began production earlier this month. Those who have managed to snag one not only moved fast in securing their spot in line, but they're also paying in cash.
The Detroit Free Press reports these people are writing checks for the full purchase price (often above sticker thanks to dealership markups) without trading in a vehicle.
"The early adopters buying the Bronco want them, they don't need them," said Jeff King, vice president and general manager at Bozard Ford Lincoln. "The biggest trend we can see on trade-ins is that a lot of people don't have them. We're not seeing half of them being Jeeps."
It seems a solid number of these customers own other vehicles and they simply want to add a Bronco to their garage. They can also easily afford to do so. "Many are well-to-do purchasers," said another Ford dealer manager. "There are essentially no incentives or rebates on Bronco. In other words, this is not a payment shopper. They're buying this vehicle because they want it and they can afford it. We're ultimately catering to a totally new customer to Ford."
This does not come as much of a surprise. Ford previously said it's been achieving a high percentage of conquest buyers over the past few months not only for the Bronco but also the Bronco Sport and Mustang Mach-E. The fact is Ford has cool new products out right now that appeal beyond the usual crop of Blue Oval customers. People, many of whom have the extra cash to spend, see these new vehicles and instantly find them attractive. We can hardly blame them.
The Ford F-150 Lightning is another good example. Many depositors are new to Ford, while the fully electric full-size pickup truck is sold out for the foreseeable future. The Bronco, which we recently sampled again in the mountains outside of Las Vegas, absolutely lives up to the hype.