MachE used cars value really tanked this much?

[4sallypat]

how did you get the federal and state refunded again when you already got the credit ?

I got the $7500 refunded in Feb 2023 as part of filing my 2022 taxes.
Also got separately $2000 from the state CARB/CVRP program.

This year I got the Mach E and will be getting $3750 back in early 2024.

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[jmatero]

Yeah, I'll be keeping mine for a while. The whole "get rich quick" selling your EV for $$$$ was a fluke during the pandemic. Cars are depreciable assets again and the depreciation on the Mach-E is really the same as any other car. Interest rates are up, inventory is up, Tesla dropped their prices.

 

[ElectrikPony]

I feel like we are getting off track here

 

[ericNdfw]

Anyone sold a low mileage GT? Are these truly how much the mache used market has gone to? A $20,000 less in value. GTs sold for around $63,000 new.

The market values EVs as if they all claimed at least the $7500 IRS rebate so it's more like $11k or so depreciation. (especially if it's a pre-2023 model sold before the rules changed)

Also, top-spec cars (of any kind) also tend to depreciate faster than lesser spec'ed models. Case in point, my '21 Premium AWD+ER w/ 28k miles is within $4k trade-in value as GTPE w/ same mileage right now (per KBB), even though their MSRP was about $20k different.

(screen shot values are for DFW, TX area)

 

[skiingj]

Last year my premium SR RWD was selling online for $50k. I am selling it on Sunday for $28k with Carvana with 27K miles. Never again buying a Ford. Picking up a GV60 performance tomorrow.

 

[Eagertrader]

Feel bad for all of you where deprecition is a factor. I paid $65K out the door ($59.5 MSRP) on December of 21. It was the most expensive car ever for me. Since I planned to keep the car until it dies, I made sure that it had all the goods and speed to keep me happy for the duration. Thus far the car’s been a blast to drive and pleasure to own. Best man-boy toy ever! (and I did love my Saab 9000 turbo and my Audi A6 in their days)
Respectfully, buy real estate for investment, not a car.

 

[Pushrods&Capacitors]

What did people expect? I’m asking honestly. Our Job 2 ‘21 4X was getting offers of $60-63K as recently as last November from Vroom, Driveway et al. It had 18K miles and the msrp was $56K. Now, the offers are more like $32-37K on the high side. That’s actually about avg. depreciation for a 2 yr old EV with 35K miles. Supply has increased, demand has decreased (hello high APRs!) and, Tesla threw the additional wrinkle of huge discounts in the mix. It’s that simple.

 

[jay1122]

Last year my premium SR RWD was selling online for $50k. I am selling it on Sunday for $28k with Carvana with 27K miles. Never again buying a Ford. Picking up a GV60 performance tomorrow.

May I ask why go from MME to GV60? With $70K MSRP. Mid 200 range, it just does not seem too good of a choice to me.

 

[ericNdfw]

Last year my premium SR RWD was selling online for $50k. I am selling it on Sunday for $28k with Carvana with 27K miles. Never again buying a Ford. Picking up a GV60 performance tomorrow.

Are writing off Ford for the depreciation or some other reason?

I ask because a new GV60 Performance stickers for $70k (with no IRS rebate possibilty) and 1 year old used ones can be had for around $55k on cars.com while 2023 Mach-E GTPE models are almost all around $60k or more, so it could be argued that Ford's are holding their value similarly or better.

Note: I'm not bashing the GV60, it's probably a great car but I don't think anyone can claim it will have a better resale value.

Also, Carvana seems to be low-balling everyone lately, why settle for them?

PS: I pay no attention to what cars were selling for last year, it was a bubble and if you did sell, you'd have been paying way over in ADM for whatever you replaced it with. ...unless, of course, you didn't need to replace it; in that case, you would have sold mine in a heartbeat!

 

[Ghost Ryder]

What did people expect? I’m asking honestly. Our Job 2 ‘21 4X was getting offers of $60-63K as recently as last November from Vroom, Driveway et al. It had 18K miles and the msrp was $56K. Now, the offers are more like $32-37K on the high side. That’s actually about avg. depreciation for a 2 yr old EV with 35K miles. Supply has increased, demand has decreased (hello high APRs!) and, Tesla threw the additional wrinkle of huge discounts in the mix. It’s that simple.

My general rule of thumb is for a car to depreciate 50% every 4 years. The MME seems to be going down a little quicker than that.

 

[Pushrods&Capacitors]

My general rule of thumb is for a car to depreciate 50% every 4 years. The MME seems to be going down a little quicker than that.

Sure, but depreciation isn’t linear either. I’d wager that a ‘21 4X will be worth about $26-28K in 2025 provided avg. mileage and condition. That would be about 50% depreciation, and, still more than the 4 yr Ford Options residual estimate of approx. $22K from late ‘21.

 

[Ghost Ryder]

Sure, but depreciation isn’t linear either. I’d wager that a ‘21 4X will be worth about $26-28K in 2025 provided avg. mileage and condition. That would be about 50% depreciation, and, still more than the 4 yr Ford Options residual estimate of approx. $22K from late ‘21.

In my case, my GTPE was roughly 70k before taxes. But my Option buyout is only 25K after 4 years. It would seems that Ford is not too confident in the MME holding its value.

 

[jay1122]

My general rule of thumb is for a car to depreciate 50% every 4 years. The MME seems to be going down a little quicker than that.

I think one of the big reason is tesla. When you can get a new model Y LR for mid 40K after tax credit and state incentive. You are not going to pay 40K for a used MME. The price has to go to 30K+ to make it justifiable.

 

[Logal727]

The market values EVs as if they all claimed at least the $7500 IRS rebate so it's more like $11k or so depreciation. (especially if it's a pre-2023 model sold before the rules changed)

Also, top-spec cars (of any kind) also tend to depreciate faster than lesser spec'ed models. Case in point, my '21 Premium AWD+ER w/ 28k miles is within $4k trade-in value as GTPE w/ same mileage right now (per KBB), even though their MSRP was about $20k different.

(screen shot values are for DFW, TX area)

ouch

 

[nvabill]

I feel like we are getting off track here

Isn't this the track you put everyone on?

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