Future Mach-E buyers, please note…

[nvabill]

So you purchased a used 21 Select for 30k and 5 months later sold it for 25k... You think that's a good deal? That's like a 1k/mo car payment on a used Select (a 30k vehicle loan is about $500/m)... There's not much good about that. Used to used is never going to depreciate like a new vehicle will. No one is disputing that a new car will heavily depreciate the moment you drive it off the lot.

A large portion of posters here are missing the point or just trying to be deceptive in defense of a nasty reality. The MachE, compared to other EVs, has a terrible resale value and depreciates much faster. That's it. It's a fact. If you're okay with that then great, go buy a MachE. There's no harm in letting people know where the current resale value of a potential purchase is. I'm not sure what there is to argue here.

This!?? Folks just don’t want to accept reality, this is the I bought a MME crowd and it’s the best car going. That’s great if they feel that way but reality their value drops like a rock!

Sponsored

 

[stealthytolkien]

So you purchased a used 21 Select for 30k and 5 months later sold it for 25k... You think that's a good deal? That's like a 1k/mo car payment on a used Select (a 30k vehicle loan is about $500/m)... There's not much good about that. Used to used is never going to depreciate like a new vehicle will. No one is disputing that a new car will heavily depreciate the moment you drive it off the lot.

A large portion of posters here are missing the point or just trying to be deceptive in defense of a nasty reality. The MachE, compared to other EVs, has a terrible resale value and depreciates much faster. That's it. It's a fact. If you're okay with that then great, go buy a MachE. There's no harm in letting people know where the current resale value of a potential purchase is. I'm not sure what there is to argue here.

This is literally it. This should have been my post and discussion was over right there.

People are posting things like - I shouldn’t sell a car in 5 months. What they seem to be forgetting is that this is the third year of the car when most of the depreciation from 75k (an absurd price for a ford EV to begin with, but oh well)…should have happened and the price should have settled (within 5-10k). A used car depreciating more than 50% in five months is not only nasty, it indeed sends a doom and gloom message to THOSE who care for it. For others who are not going to ever part with that car before it falls apart, life should move on as normal. They should then absolutely buy the MME. It should also be noted that the higher the trim the more loss it is showing in resale so there’s another thing to take note of IF you care about resale when making a decision. That’s it.

Another thing many seem to forget or glance over is that if this were a 2021 Model Y performance, I’m pretty sure it’d also have a significant loss when trading in or selling, but EV familiar people are generally not going to hesitate buying a used Tesla from a private party. And the demand is very high compared to others to begin with so that has to help the value somewhat. Try listing a MME through private party selling websites and see what interest it gets ESPECIALLY on the west coast where Tesla is the gold standard for EVs. And the safest bet.

That’s your answer and the point behind my post. If you have an MME, don’t be surprised and prepare to take a huge loss when reselling. If you’re thinking about buying it, just be aware that “this could happen to you”.

 

[agoldman]

well isn't this a happy thread..

 

[awp0]

For those of us with Ford Options, I'm curious: Would Ford negotiate the final payoff amount if the value of the car is far below that payoff number when the term ends? If you have a $35k payoff for a car with a $25k market value, it would be a no-brainer to give the car back to Ford. It seems in everyone's best interest for Ford to be willing to negotiate that payoff down to something closer to market value?

 

[Motomax]

We are just going back to reality. New cars will lose 10-20% right off the bat. Any tax rebates get subtracted also. so in California that was almost $10k back in 2021. Dealerships trade in values will be another 10-15% bellow private sale.

Numbers looks spot on to me.

 

[stealthytolkien]

We are just going back to reality. New cars will lose 10-20% right off the bat. Any tax rebates get subtracted also. so in California that was almost $10k back in 2021. Dealerships trade in values will be another 10-15% bellow private sale.

Numbers looks spot on to me.

It’s really a bummer I still think.

That brand new 2021 zero mile GTPE manufactured in Sept 2021 would have been $75k out the door minus $7500 so about 68k. I got it for certified plus a year of extra warranty for $50k out the door in May 2023…that is straight $20k down. And that’s already close to 30% depreciation for a NEW car. Not 10, not 20.

But what I am saying is that from this point on, the depreciation should have slowed down as with most cars. Instead, the car just lost another 40% of its current value. Again, that offer may be an aberration, but it may very well be the case as others catch up. So that’s close to 60% loss in two years. Having owned and traded many cars in 3-5 year cycles, this is the first time I am seeing market over correcting so badly. And private party sales of MME are non existent where I am. Everybody wants to sniff Elon’s Musk.

 

[Bueller]

Last week the local Ford dealer offered me $42k for my 2021 GT with 16,000 miles. The right at what I owe. I didn’t take it.

 

[Auto Motive]

It’s really a bummer I still think.

That brand new 2021 zero mile GTPE manufactured in Sept 2021 would have been $75k out the door minus $7500 so about 68k. I got it for certified plus a year of extra warranty for $50k out the door in May 2023…that is straight $20k down. And that’s already close to 30% depreciation for a NEW car. Not 10, not 20.

But what I am saying is that from this point on, the depreciation should have slowed down as with most cars. Instead, the car just lost another 40% of its current value. Again, that offer may be an aberration, but it may very well be the case as others catch up. So that’s close to 60% loss in two years. Having owned and traded many cars in 3-5 year cycles, this is the first time I am seeing market over correcting so badly. And private party sales of MME are non existent where I am. Everybody wants to sniff Elon’s Musk.

Not a investment by any means. Keep it like we do for all our vehicles a decade or more.
Our 06 Jeep has 50000 miles like new seats 7. We sold a 06 Mercury Milan Premier and 2011 Kia Optima SX both with over 100k each when we bought our 2021 GTPE and 2023 modelY AWD long range. We didnt have payments for years. Cash saved to buy current ev.

 

[nvabill]

It’s really a bummer I still think.

That brand new 2021 zero mile GTPE manufactured in Sept 2021 would have been $75k out the door minus $7500 so about 68k. I got it for certified plus a year of extra warranty for $50k out the door in May 2023…that is straight $20k down. And that’s already close to 30% depreciation for a NEW car. Not 10, not 20.

But what I am saying is that from this point on, the depreciation should have slowed down as with most cars. Instead, the car just lost another 40% of its current value. Again, that offer may be an aberration, but it may very well be the case as others catch up. So that’s close to 60% loss in two years. Having owned and traded many cars in 3-5 year cycles, this is the first time I am seeing market over correcting so badly. And private party sales of MME are non existent where I am. Everybody wants to sniff Elon’s Musk.

In my opinion most EV's will not be much more that a disposable item as they age. I mean seriously, the main two components of the car are a battery and a big computer. And I don't know about you but I for one don't want to pay pay much for a used battery or an outdated computer.

 

[nvabill]

Not a investment by any means. Keep it like we do for all our vehicles a decade or more.
Our 06 Jeep has 50000 miles like new seats 7. We sold a 06 Mercury Milan Premier and 2011 Kia Optima SX both with over 100k each when we bought our 2021 GTPE and 2023 modelY AWD long range. We didnt have payments for years. Cash saved to buy current ev.

Exactly, so many keep complaining about resale all the while singing how good the car is. Ok then, drive the wheels off of it and throw it away when done, problem solved.

 

[Say Watt]

One factor that may bump up the value next year is opening of the Tesla charger network. The major "naysayer" argument I encounter is the non-Tesla charging options. Market value may increase as range anxiety decreases.

 

[DevSecOps]

Numbers looks spot on to me.

Why does this keep coming up?

Let me ask you... Numbers vs what? Verses another MachE? Verses a horse and carriage? Verses an unicorn?

The fact of the matter is that the MachE has a worse resale value than 40 other EVs. No one here is complaining that cars depreciate. No one expects an MME purchase to be an investment. The entire point of the thread is that if we compare resale values of the MachE vs other EVs the MachE is total dog shit.

Here's some numbers you can run for yourself on KBB

2022 Tesla Model 3 LR AWD, base package:
New: 45k
KBB 1 year with 10k excelent condition: 38k (trade in value)
16% Loss over 1 year

2022 MachE Premium LR AWD, base package:
New: 59.9k
KBB 1 year with 10k excelent condition: 43k (trade in value)
29% Loss over 1 year

I don't see anyone bashing on the MME in this thread, there's just a lot of people in denial of the facts. Almost any other EV vs the MachE will win on resale value right now.

 

[macchiaz-o]

For those of us with Ford Options, I'm curious: Would Ford negotiate the final payoff amount if the value of the car is far below that payoff number when the term ends? If you have a $35k payoff for a car with a $25k market value, it would be a no-brainer to give the car back to Ford. It seems in everyone's best interest for Ford to be willing to negotiate that payoff down to something closer to market value?

I'm not sure I'd give it back in your scenario. I'd probably make the final payment and keep driving this car another 3-6 years instead of sinking a lot more money into another fast depreciating asset. This is my only vehicle, not a spare that I can just give up without replacement.

It's gonna be really unlikely for the Return option on my Ford Options contract to be my choice. When all costs are factored in, this 3 year Options contract is costing me a bit more ($283 to be precise) than if I'd have chosen the 0.9%, 48-month standard loan option that was also offered. I only went this route because the increased cost was such a small amount. Because the way I look at it, for me to Return the car to Ford at the end of Options, ALL of these conditions must be met at around month 35:

1. I'd be unhappy with the vehicle near the 3 year point,
2. AND, a suitable replacement car is ready for me to buy at that same time,
3. AND, the market value is significantly below the balloon amount.*

I've still got 3 months left on the loan. So far only qualifier #2 is realized.

* My payment for month 36 is $20,855. The current Carvana value is $30,049 (32k miles), and I've got a grandfathered state vehicle tax registration discount worth about $700/year, so we're not even close to hitting condition #3 yet.

 

[Auto Motive]

In my opinion most EV's will not be much more that a disposable item as they age. I mean seriously, the main two components of the car are a battery and a big computer. And I don't know about you but I for one don't want to pay pay much for a used battery or an outdated computer.

Used batteries are now being used for green energy storage. Storage solutions are being done by companies world wide.

 

[Motomax]

Why does this keep coming up?

Let me ask you... Numbers vs what? Verses another MachE? Verses a horse and carriage? Verses an unicorn?

The fact of the matter is that the MachE has a worse resale value than 40 other EVs. No one here is complaining that cars depreciate. No one expects an MME purchase to be an investment. The entire point of the thread is that if we compare resale values of the MachE vs other EVs the MachE is total dog shit.

Here's some numbers you can run for yourself on KBB

2022 Tesla Model 3 LR AWD, base package:
New: 45k
KBB 1 year with 10k excelent condition: 38k (trade in value)
16% Loss over 1 year

2022 MachE Premium LR AWD, base package:
New: 59.9k
KBB 1 year with 10k excelent condition: 43k (trade in value)
29% Loss over 1 year

I don't see anyone bashing on the MME in this thread, there's just a lot of people in denial of the facts. Almost any other EV vs the MachE will win on resale value right now.

Was Tesla getting a fed tax credit in 2022 (I can’t keep up). If not the numbers are pretty close. The mach e is a little overpriced to me, that would affect resale value. The tesla fanboys/girls keep the resale value higher, the ford fanboys/girls don’t have that much pull. Even though you can’t buy parts or basically repair anything on your Tesla yourself, the misconception that Tesla is a battery vehicle still remains.

Sponsored