My Mache is down to 32%

[Bard95]

I am sure everyone is aware that Ford dropped MachE prices and has 0% financing, what a deal!

EXCEPT…

I got my MachE (2021 Select RWD) appraised to trade up to 2023 GT.

$16,000!

I have had it almost 2 and 1/2 years, and it’s only worth 32% of original price, WOW!

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[Mach1E]

I am sure everyone is aware that Ford dropped MachE prices and has 0% financing, what a deal!

EXCEPT…

I got my MachE (2021 Select RWD) appraised to trade up to 2023 GT.

$16,000!

I have had it almost 2 and 1/2 years, and it’s only worth 32% of original price, WOW!

Mileage?

Just because 1 person offered you $16k doesn’t mean that’s all it’s worth.

 

[generaltso]

Oh good. I was hoping for at least one more thread about plummeting MME values today.

 

[GreaseMonkey]

I am sure everyone is aware that Ford dropped MachE prices and has 0% financing, what a deal!

EXCEPT…

I got my MachE (2021 Select RWD) appraised to trade up to 2023 GT.

$16,000!

I have had it almost 2 and 1/2 years, and it’s only worth 32% of original price, WOW!

Mileage, condition and source of the trade value. Carvana is offering a fair value these days. Not that I’m selling, but I window shop.

For example: my mme is 2022 premium AWD ER with 9,500 miles and like new condition. Carvana offered $34k. CarMax is selling them at $38-39k. My out of pocket excluding state rebate was $47.3k. So 81% retention for someone in my position, 20 months in. Personally, I received 4k from Illinois, so my bottom line is $43.3, or 89% retention. Of course I also paid 9.8% sales tax and bought a bunch of junk that only I care about, etc.

 

[redgrandam]

1) cars are not investments. They constantly depreciate

2) try somewhere else. Dealers often low ball. They have excess inventory of 2023 with discounts now. When those discounts end the value of trades might go up a bit.

 

[awp0]

Ford Options FTW! I chose it mainly because they were giving a cash incentive and reasonable financing rate. I didn't expect it might also serve as a lifeline.

 

[AngryMan]

I am sure everyone is aware that Ford dropped MachE prices and has 0% financing, what a deal!

EXCEPT…

I got my MachE (2021 Select RWD) appraised to trade up to 2023 GT.

$16,000!

I have had it almost 2 and 1/2 years, and it’s only worth 32% of original price, WOW!

#1 that's ridiculously low ...but you know that
#2 if yer about to go underwater you might consider just taking an offer and getting out
#3 we will probably never see GT prices this low again. Plenty going for under $50,000
#4 the $7500 tax credit still applies to leases and can be used to cut a nice chunk off the new GT price right at "purchase"

 

[SpartanZack]

1) cars are not investments. They constantly depreciate

2) try somewhere else. Dealers often low ball. They have excess inventory of 2023 with discounts now. When those discounts end the value of trades might go up a bit.

Yeah but in 2021 my cousin's neighbor's friend's dad sold their 2 year old VW Passat for $2500 more than MSRP and it doesn't even have a frunk or a 5 second limit so I think our MMEs should be worth way more than MSRP with features like this.

 

[A-A-Ron]

Oh good. I was hoping for at least one more thread about plummeting MME values today.

Since updates are basically stuck and we can’t get the offset speedometer, plus the early spring means we can’t complain about receiving the wrong battery, there has to be something to keep things going around here

 

[generaltso]

Ford Options FTW! I chose it mainly because they were giving a cash incentive and reasonable financing rate. I didn't expect it might also serve as a lifeline.

I'm still trying to figure out how to use it as a lifeline. My Options contract is up next month. But even at the slashed prices, it would be substantially more expensive to buy a new MME than it would be to just pay the balloon. What am I missing?

 

[ShaggySS]

If you are planning on selling it. That sucks. If not.....Who cares, enjoy it!

 

[awp0]

I'm still trying to figure out how to use it as a lifeline. My Options contract is up next month. But even at the slashed prices, it would be substantially more expensive to buy a new MME than it would be to just pay the balloon. What am I missing?

I guess I'm looking at it a different way. When my Ford Options term is up, I'll have the option to pay a certain price for a certain used car. That price is my balloon payment, and that car is my 3-year old MME that will have over 40k miles on it. If that car is worth less than my balloon payment, it could be a bad purchase. Of course, when you factor in sales tax and other fees involved in buying a different car, it may not be so simple. But in the worst case, if my car is worth $20k and my balloon payment is $30k, then I'd probably be better off giving the car back to Ford and buying a similar used one for $20k (which might even be cheaper after certain state incentives).

 

[azerik]

I'm still trying to figure out how to use it as a lifeline. My Options contract is up next month. But even at the slashed prices, it would be substantially more expensive to buy a new MME than it would be to just pay the balloon. What am I missing?

3 years and 30k'ish less miles for that money really. We know there wern't good changes equipment wise.

I'm seeing a flood a new owners on Reddit buying up GTPE's for $48k'ish. Can't wait for the wrong battery thread reboots and sudden acceleration threads sequel.

I'd happily pay $16k'ish for a RWD to replace y 10 yr old FFE. Hell I'd give you the FFE and $15k

 

[zvez]

Oh good. I was hoping for at least one more thread about plummeting MME values today.

I'm shocked I tell you shocked to see this about dropping prices, first I've heard of it!

 

[zvez]

I am sure everyone is aware that Ford dropped MachE prices and has 0% financing, what a deal!

EXCEPT…

I got my MachE (2021 Select RWD) appraised to trade up to 2023 GT.

$16,000!

I have had it almost 2 and 1/2 years, and it’s only worth 32% of original price, WOW!

go to one of the online buying companies like carmax, driveway and see what they offer, one dealer is not indicative.

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