Future Mach-E buyers, please note…

[c max]

Hi all.....I bought a '21 Select carbonized grey, RWD SR with comfort/appear. pkg via reservation/order, took delivery Feb '21......paid approx $44000......BUT also got a $7500 fed tax credit, AND here in NJ a $5000 incentive ,plus no sales tax in NJ.....that lowered my price to approx $31500 (remember no sales tax too, saved the approx $3000+ in sales tax)

OK, due to some personal stuff and my son saying "spend some of the money", I ordered a '23 red Premium RWD, SR......from the time I ordered (Feb '23) to the time I picked up (june '23) the value of my Select trade-in went down from $30000 to $24000 about 4 months......

So I bought a new car (my '21 Select), used it for 2+years and got in trade, only $7000 less than I paid for it originally......

I guess what I am saying is take into account your tax credit, plus any other incentives you got, subtract that from MSRP or what you paid.....it might soften the blow....

I also choose not to see cars, TV's etc as "investments"......when I bought my wine making stuff, I did not look at what it would be worth in 5 years.....

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[available_username2]

Hi all.....I bought a '21 Select carbonized grey, RWD SR with comfort/appear. pkg via reservation/order, took delivery Feb '21......paid approx $44000......BUT also got a $7500 fed tax credit, AND here in NJ a $5000 incentive ,plus no sales tax in NJ.....that lowered my price to approx $31500 (remember no sales tax too, saved the approx $3000+ in sales tax)

OK, due to some personal stuff and my son saying "spend some of the money", I ordered a '23 red Premium RWD, SR......from the time I ordered (Feb '23) to the time I picked up (june '23) the value of my Select trade-in went down from $30000 to $24000 about 4 months......

So I bought a new car (my '21 Select), used it for 2+years and got in trade, only $7000 less than I paid for it originally......

I guess what I am saying is take into account your tax credit, plus any other incentives you got, subtract that from MSRP or what you paid.....it might soften the blow....

I also choose not to see cars, TV's etc as "investments"......when I bought my wine making stuff, I did not look at what it would be worth in 5 years.....

You missed the most important part

>cost me almost $51,000 cash about 5 months ago. It is a 2021 - Job 2

No tax credits because they bought a used car. Not sure how you can count depreciation when you just way overpaid for a used car

 

[TGIF]

A for sarcasm.

I am not intending to sell the car. I was simply checking what’s up with resale values. Hope I am allowed to do that

However, I think, your 5 month ownership buy sell remark is questionable. The car isn’t 5 month old. I could have owned this car for 2 years and posted this. If I did, I’d have gotten 23k for a 70k car. No?

Don’t get me wrong, I know what you’re getting at. But a 51k certified used car losing 50% value so quickly is an indication of worse trends to come for resale values in general for Mach E. That was my point behind the post to show facts and let people derive their own conclusions.

Is it truly an indicator of things to come? I sold a 4 month old CR1 for a profit. The market didn’t continue going up. I think a more accurate takeaway may be there is a lot of volatility in the used market. There are more factors going into this than just the desirability of the MME—interest rates, supply of new vs supply of used, Tesla price cuts—just to name a few.

 

[llinthicum1]

After reading thru some of these threads, are we saying that current EVs, not just Mach-e's are outdated technology and that the next EV's coming online will be several years out. In other words, early adopters probably paid too much for the vehicle. If all of this is true, wouldn't it be better, in today's environment, to lease an EV vs buying?

 

[Logal727]

Was your quote from one of the dying used car resale companies like Carvana? Yeah they need to make money now. KBB is lower than I’d like, but the other guys are just laughable now.

 

[A-A-Ron]

After reading thru some of these threads, are we saying that current EVs, not just Mach-e's are outdated technology and that the next EV's coming online will be several years out. In other words, early adopters probably paid too much for the vehicle. If all of this is true, wouldn't it be better, in today's environment, to lease an EV vs buying?

It depends on how you use it. If you are relatively low mileage and plan on changing cars frequently, yeah - a lease may be a better bet for you. A lot of early EV adopters put on an above average number of miles (the per cost mile benefit really helps offset the higher EV costs) and that's not very lease friendly. I fully plan on keeping my MME 5 years / 100k miles and by that point my MME will be paid off so any trade value is just equity toward my next car. With a lease, I'd have a slightly lower payment, but I'd be hit with huge charges for mileage and have nothing to show for it in the end.

You really just need to look at your personal situation when determining if a lease is a financial benefit, because it is for some and not for others.

 

[ctenidae]

I really feel like the situation is “you buy a MME, you keep it”.

Whether you want to or not...

The rub for me is that if something comes along that I want more it'll cost me an extra $30K to get it. The good news is there's really nothing coming out that I want more for at least 2-3 more years, so the sting won't be quite so bad.

Silver trim on a grey MME, perhaps, but that's just my sunny disposition.

 

[stealthytolkien]

Who in the heck has $51,000 cash?

I was just always a fan of m…!

After reading thru some of these threads, are we saying that current EVs, not just Mach-e's are outdated technology and that the next EV's coming online will be several years out. In other words, early adopters probably paid too much for the vehicle. If all of this is true, wouldn't it be better, in today's environment, to lease an EV vs buying?

I tend to agree with your assessment. And if you noticed, Ford very recently offered some very lucrative options for leasing their EV.

Leasing an EV is possibly the safest option if you want an EV today, unless of course, you already made up your mind that you’re going to keep your EV for ten straight years regardless of their evolution.

 

[Ghost Ryder]

Depreciation for EVs are brutal. I hope you're all happy with the MME, because you're going to take a pretty big hit if you're selling within the first few years. Even with Ford's option plan, my 70K MSRP GTPE is only worth 24K residual. That's a pretty big drop. Normal cars depreciate about 50% at 4years. The GTPE would of depreciated 68% based on Ford's predictions. Yikes.

 

[PA Bob]

…that today, I was offered $23,000 for a car that cost me almost $51,000 cash about 5 months ago. It is a 2021 - Job 2 - Mach E GT Performance Edition - 10k miles - no deletions, super low miles, amazing condition inside out.

Plenty of threads about other quirks about the car, decent but not great MMI, slow “fast” charging speeds, HVBJB thermal issues, not great charging infrastructure, lack of skilled service centers. Not going to go into details.

And yet, we love the way the car drives. We love the power (I do not care one bit about the 5 second boost cap). We love how it looks. We love the attention from strangers coming up to us and asking questions about it.

Anyway, do what you want with this information. I wasn’t even trying to sell a car I haven’t even owned a year. It’s just an offer. But it was kind of shocking.

Cheers. Stay warm.

 

[jay1122]

That is what the current market is. You can get a MYP for $47K after tax credit. The base MY is $38K after tax credit. That puts pressure across the board of all EVs new and used.

Also worth noting is that the trade in offer on MME now is a low ball safe offer. The dealers just have no confidence in selling MME. If you look at used 21 GT for sale, it is still at least $40K. The dealers offer $23K trade in then sell for $40K. $17K profit. Dirty SOBs.

if anyone wants to sell me their MME GT for $25K. I will gladly buy it.

 

[stealthytolkien]

Better car across the board? So you're just a troll

Thank you for your kind words. Take a look at what I own today though, after having owned a Tesla before.

And then perhaps may I suggest something? Do try and work on your overly sensitive self to be able accept others’ opinions without needing to call them names or mocking them for expressing a mere opinion. It helped me LOL so it can help even someone like you.

Or don’t. Who cares?

Have a blessed day.

- Troll.

 

[jay1122]

Thank you for your kind words. Take a look at what I own today though, after having owned a Tesla before.

And then perhaps may I suggest something? Do try and work on your overly sensitive self to be able accept others’ opinions without needing to call them names or mocking them for expressing a mere opinion. It helped me LOL so it can help even someone like you.

Or don’t. Who cares?

Have a blessed day.

There are always Fanboys. I was on Tesla forum. Someone bought a brand new tesla Model 3 and left the delivery center with the new car using FSD. The FSD failed to recognize the traffic light and cars in front and crashed the car. Worse part is, the person only has liability coverage and no collision coverage. Stuck with $11K repair estimate. OP is like, I am starting to doubt the system. The tesla fanboys are quick to come around and defend the FSD and blame the OP.

 

[DennisD]

Who in the heck has $51,000 cash?

I paid cash for mine at MSRP and received a 7.5 k tax credit. I am using mine for my Company and am able to claim .65 cents per mile for every mile I drive for my business. (which is almost 100% of the miles)

I plan on keeping it for 3 years and then see what my plans have next for me at that time.

I also use it as a "driving billboard" if you will.

I sold two cars shortly before purchasing my MME (2013 Toyota Tacoma and 2015 Prius) in which I made over 10 k on them. That is w/o factoring in the depreciation that I claimed on my taxes as well on those. Add that into the equation and I am multiple thousands ahead.

So in short, I will most likely still be ahead at the end of my intention to sell in 3 years because the bottom has already dropped.

For those that purchase a new car with intentions of selling it in 2 years or fewer, will take a "bath" many more times than not and if they are borrowing money to purchase these ill advised purchases, they will forever be in the red.

This thread should should not be shocking but rather a life learned lesson on how not to purchase and sell vehicles.

EV's are technology and just like computers, they tank as soon as you bring them home so my advice is to look the other way and not get into a hurry of buying the "latest and greatest".

 

[AngryMan]

Damn hippie

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