Ford Pricing during Covid

[Bruboy]

I bought a chicken Big Mac today. I wanted to try something new. After a couple bites though, I feel it’s time to upgrade. The double quarter pounder with cheese is my next bestie. I didn’t eat very much of the Chicken Big Mac. There’s plenty of usable life left for a second owner. But the franchise owner of the McDonald’s won’t offer me hardly a damn thing on trade in. How could a gently used chicken Big Mac depreciate so fast? I’m pretty sure it’s a conspiracy by Chicken Ranchers, the Cow’s from the Chik-fil-A commercials, and the makers of statins. I’m thinking of exercising my rights as an American to sue someone. I deserve a better trade in after buying a depreciating asset. Anyone want to go halves on a Lawyer. I’ll pay my half with gently used fast food.

Yeah, I tried that damn thing, for some reason it taste better in the Caribbean.





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[Triggerhappy007]

it's not a mistake and you keep it and drive it for a few decades.

Fixed it for you.

 

[Triggerhappy007]

Agree - when I traded in my '22 Lightning for the '23 Mach E, I was tickled that they offered the MSRP price which is what I paid for plus I made $10,000 ($7500 federal credit refunded + $2500 state rebate).

Check the terms of the $2500 CA rebate. I think you have to give back the money if you don't own it 30 months.

 

[933233311602]

No negative equity and less than 3% on the loan. With it being a new car, even for ford, they just took advantage and jacked up the price.

Were there any guns, knives, baseball bats, or large angry-looking men leaning over you when you bought the car? No? Just a salesperson handing you a pen?

A price in exchange for a car was presented to you and you agreed to buy the car for that price.

That's how agreements and contracts work.

 

[Phil Martin]

Why do people use words like “took advantage” when talking about a mutually agreed upon deal by willing competent participants?

No one was taken advantage of.

Did I take advantage of the dealer when they gave me waaaaaay more for my used car when I bought my Mach E?

Other than the “take advantage” thing I agree with what you said.

Most people paid invoice (which is MSRP) or less (X plan) in 2021. Actually a pretty fair deal at the time.

I do think it’s kinda funny that the OP wasn’t happy with the depreciation on his new car so he wants to buy another new car and go through the same thing again…..

There's three things he can do. Pay it off and continue with life. Default and trash his credit and the car gets repossessed. Or complain which accomplishes nothing.

Usually, people complain because it's a defense mechanism. It projects blame due to cognitive dissonance.

The bottom line is he signed the purchase contract and at that time agreed to the terms and pricing via his signature. That's why there's contract law, to bind that contract.

 

[voxel]

COVID pricing? Huh?

Mach-E was CHEAPER than the Model Y (which peaked at $67K for the base) and there was $7500 tax credit which made it even cheaper.

Mach-E had a bigger battery (99kWh), 360 cameras, CarPlay, local dealership support, etc. that folks all wanted over the Teslas.

Calling it COVID pricing is revisionist.

 

[Ravensfan1996]

Back in ‘21 people were paying $5-20K over MSRP for cars on lots, they were very rare back then. Only orders were coming in. I had x-plan pricing and dealer agreed to no markups, and when mine came in in July 2021. They called and said its in and by they way $5k dealer markup, I said um no, i have the texts and they agreed no markup. I was wondering when we would start seeing posts like this for those that overpaid. I still plan to keep mine awhile, there is no much difference between my ‘21 and the new 24’s. Ill be waiting the refresh to see whats really improved and what’s out there then.

 

[Mach1E]

Back in ‘21 people were paying $5-20K over MSRP for cars on lots, they were very rare back then. Only orders were coming in. I had x-plan pricing and dealer agreed to no markups, and when mine came in in July 2021. They called and said its in and by they way $5k dealer markup, I said um no, i have the texts and they agreed no markup. I was wondering when we would start seeing posts like this for those that overpaid. I still plan to keep mine awhile, there is no much difference between my ‘21 and the new 24’s. Ill be waiting the refresh to see whats really improved and what’s out there then.

Very few paid ADM.

Lots of dealers tried to charge it, but very few paid. And almost every dealer gave you MSRP or X plan if you ordered one.

The only reason to over pay back then was if people were impatient.

But they DEFINITELY knew they weren’t getting a deal at the time. Hard to complain now.

 

[tfun]

I'm the same boat, although I paid down my loan quickly. I also refused to pay over list. The deprecation is a little shocking but I have no plans to trade. My plan was to drive it forever and enjoy the almost zero cost of maintenance. No real reason to upgrade anyway, unless they come out with a solid state battery. If you like a new car often, you should be leasing. Also, why not buy a used newer model? Then you get the advantage of depreciation. I doubt I would buy a new EV again unless the market changes

 

[HuntingPudel]

Very few paid ADM.

Lots of dealers tried to charge it, but very few paid. And almost every dealer gave you MSRP or X plan if you ordered one.

The only reason to over pay back then was if people were impatient.

But they DEFINITELY knew they weren’t getting a deal at the time. Hard to complain now.

I don't know about very few, but the great majority did not pay ADM. There's a dealer group local to me (whom I have hated since the middle '80s when they bought out the Pontiac dealer) who pulled the carpet out from under the purchasers of several ordered cars and sold those customer orders to walk-ins with ADM. There were also a lot of posts on the forum in '21 by people who said they knew better but didn't want to wait so they paid between $5K and $20K ADM. While they're the minority, there was a significant minority. ?‍?

 

[voxel]

I don't know about very few, but the great majority did not pay ADM. There's a dealer group local to me (whom I have hated since the middle '80s when they bought out the Pontiac dealer) who pulled the carpet out from under the purchasers of several ordered cars and sold those customer orders to walk-ins with ADM. There were also a lot of posts on the forum in '21 by people who said they knew better but didn't want to wait so they paid between $5K and $20K ADM. While they're the minority, there was a significant minority. ?‍?

Yup. Because new cars were in such short supply (and barely used cars were higher than new), I personally knew a few folks that paid a little ADM like $2-5K on RAV4s and even Nissan Leafs. Dealers had originally asked for $10K over. Used Teslas were selling for more than new also. Crazy times.

These days with such oversupply on almost every vehicle except a Land Rover, I wouldn’t even consider 10% below sticker a good deal.

 

[ChuckA]

No negative equity and less than 3% on the loan. With it being a new car, even for ford, they just took advantage and jacked up the price.

I financed my 21 Premium AWD ER using Options and after 3 years refinanced the $23.700 balance at 2.25% through Ford Credit. My price was $57k. I can’t imagine what you paid to be at $45 k after 3 years. Looks like you were hosed!!

 

[Mach1E]

I financed my 21 Premium AWD ER using Options and after 3 years refinanced the $23.700 balance at 2.25% through Ford Credit. My price was $57k. I can’t imagine what you paid to be at $45 k after 3 years. Looks like you were hosed!!

A fake number that is disproven by math?

Even if he financed for 72 months the purchase price would have been like $80k with no money down.

 

[Ravensfan1996]

I don't know about very few, but the great majority did not pay ADM. There's a dealer group local to me (whom I have hated since the middle '80s when they bought out the Pontiac dealer) who pulled the carpet out from under the purchasers of several ordered cars and sold those customer orders to walk-ins with ADM. There were also a lot of posts on the forum in '21 by people who said they knew better but didn't want to wait so they paid between $5K and $20K ADM. While they're the minority, there was a significant minority. ?‍?

I agree I saw many posts on FB of people paying over MSRP may not have been the majority as you said, but there were alot. I was looking at the RAV4 Prime back then and dealer wanted $10k over msrp, at that price i could get a much better car and started my search which lead me to the Mach E and placed my order in 2020.

 

[DennisD]

A fake number that is disproven by math?

Even if he financed for 72 months the purchase price would have been like $80k with no money down.

Actually, I would guess that he traded in a car the was upside down as well and added the cost of what he still owed on the car he traded and applied it to the MME with an ADM.

That is just a guess but if he also paid an ADM, his math may be correct, albeit flawed but correct.

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