Should I Sell

[SignMD]

My wife love's her Mach-e but I probably won't keep it for more than 2 years (it's currently 18 months old). But I am concerned about the value if I hold onto it as I am getting offers now of $30-38K on the vehicle which is a 70K GTPE. Given the current Ford discounts and move to the Tesla NACS in 2025, I am wondering if I should jump on an offer of $41K from CarMax (expires tomorrow). I am looking at a $95K Mercedes EQE that I can lease for under $700/month with only first months payment due at signing.

Any thoughts?

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[ChasingCoral]

If there EQE is the right car for you, do it. Otherwise hold on until the NACS rollout.

 

[Hammered]

You're going to lose more value on the benz in the first 6 months than the MME will devalue in 2 years. Cars are depreciating assets. Right now is a bad time to buy or sell unless you're using cash. Rates are trash. From a financial perspective, it makes almost no sense.

It sounds like you're more interested in a new vehicle. I don't expect the MMEs to really depreciate any more than we've seen over the last year. It wasn't the only vehicle affected by the vehicle bubble popping and interest rates jumping.

 

[SignMD]

I paid cash for my GTPE so I would be getting a check for $41K. The EQE is will cost me $26K to lease over a 3 year period and I can walk away. I can put the 41K in a high yield saving and make 5.5% wile I pay the monthly lease payments. I will certainly get less for the Mach-e when it turns 2 years and again if I keep it to 3 years. Say it's worth 30k after 2 years, it's cost me $1,250 a month to use the car for 2 year (after factoring in the $7500 tax savings). That's a lot of money for this car. So I am doing this more from a financial perspective. Regardless, I am not keeping the Mach-e more than 3 years as I don't want it out of warranty. As for the depreciation on the EQE, doesn't matter to me as it's a lease.

 

[generaltso]

I paid cash for my GTPE so I would be getting a check for $41K. The EQE is will cost me $26K to lease over a 3 year period and I can walk away. I can put the 41K in a high yield saving and make 5.5% wile I pay the monthly lease payments. I will certainly get less for the Mach-e when it turns 2 years and again if I keep it to 3 years. Say it's worth 30k after 2 years, it's cost me $1,250 a month to use the car for 2 year (after factoring in the $7500 tax savings). That's a lot of money for this car. So I am doing this more from a financial perspective. Regardless, I am not keeping the Mach-e more than 3 years as I don't want it out of warranty. As for the depreciation on the EQE, doesn't matter to me as it's a lease.

Sounds like you've already decided. Enjoy the Merc.

 

[Rabidsquirrel22]

You’re probably not getting the most money out of the Mach-E by selling it to CarMax or one of the other online sellers. Most people on here have reported lowball offers from those places and higher from dealerships.

 

[B177y]

You’re probably not getting the most money out of the Mach-E by selling it to CarMax or one of the other online sellers. Most people on here have reported lowball offers from those places and higher from dealerships.

My experience with Carvana was the opposite.... I just sold them my 2012 Mazda5 after purchasing my Rt 1 one month ago. Carvana offer was double what the dealer trade offer was.

 

[Charlie]

Only you know what is best for you.

 

[SignMD]

You’re probably not getting the most money out of the Mach-E by selling it to CarMax or one of the other online sellers. Most people on here have reported lowball offers from those places and higher from dealerships.

I have checked them all and emailed dealers I have used in the past and also random Ford dealers. Most everyone is around $37-38, Cavana was $33. I took it to CarMax in person and they gave me the $41K offer.

 

[dmastro]

I paid cash for my GTPE so I would be getting a check for $41K. The EQE is will cost me $26K to lease over a 3 year period and I can walk away. I can put the 41K in a high yield saving and make 5.5% wile I pay the monthly lease payments. I will certainly get less for the Mach-e when it turns 2 years and again if I keep it to 3 years. Say it's worth 30k after 2 years, it's cost me $1,250 a month to use the car for 2 year (after factoring in the $7500 tax savings). That's a lot of money for this car. So I am doing this more from a financial perspective. Regardless, I am not keeping the Mach-e more than 3 years as I don't want it out of warranty. As for the depreciation on the EQE, doesn't matter to me as it's a lease.

Obviously, you realize the MME is paid off so all it costs you for the next few years is the depreciation on the car. The Merc payment will undoubtedly be significantly more.

As you say, you're evaluating this from more than a financial perspective. The Merc is a really nice car - if it's what you want and you have the means to get it, why not go for it?

 

[JohnFoxeSheets]

My wife love's her Mach-e but I probably won't keep it for more than 2 years

Any thoughts?

My thought is that it's your wife's car that she loves.

 

[AKgrampy]

Kind of reads like one of those advice column’s” Caught my fiancée cheating on me - should I still marry him.” You already know the answer and you just want affirmation. Who cares what we think dollar and cents wise - only you can decide what is good for you. But I would advise checking with your wife first!

 

[Zigma51]

I think if you are always looking at the next best thing, you will never be happy with what you have now. I assume you had great reasons to get your Mach E, just as you got great reasons to get your next car. If it purely about a finance choice, and the math proves you will save money. Then you should go ahead and get the new car.
I know I am very happy with my Mach E, and I do plan on trading it in, in when it is about 6 years old in 2029 or 2030. I feel 6 to 7 years is a good amount of time to get the most out of my warranty and saves the most money in the long run. Also, cars after that much time will defiantly have enough new features to really make me excited for the switch.

 

[BigMach-E]

I’m driving this GTPE until the wheels fall off. I never thought I would drop 70k on a car, so the fact that it’s worth about half as much as I paid about a year ago, meh, probably not buying another new car any time soon.

 

[socalh2oskier]

I paid cash for my GTPE so I would be getting a check for $41K. The EQE is will cost me $26K to lease over a 3 year period and I can walk away. I can put the 41K in a high yield saving and make 5.5% wile I pay the monthly lease payments. I will certainly get less for the Mach-e when it turns 2 years and again if I keep it to 3 years. Say it's worth 30k after 2 years, it's cost me $1,250 a month to use the car for 2 year (after factoring in the $7500 tax savings). That's a lot of money for this car. So I am doing this more from a financial perspective. Regardless, I am not keeping the Mach-e more than 3 years as I don't want it out of warranty. As for the depreciation on the EQE, doesn't matter to me as it's a lease.

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