Another Mach-E Crash Report and Repair Cost Estimate

[generaltso]

No reason to get mad at me because you don't understand that Options is a lease in the guise of an installment contract or why GAP is more attractive when government subsidies artificially inflates the nominal purchase price. There is Google. Maybe that will help. But yeah, nothing more I can do for you.

Don't worry. I know exactly what Options is and don't need anything from you. I just don't see the point in this back and forth, which is why I said I was done. I shouldn't have taken the bait and re-engaged by responding again, but here we are. This time I'm really done. I guess there's nothing more I can do for you either. Have a good night.

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[DBC]

Don't worry. I know exactly what Options is and don't need anything from you. I just don't see the point in this back and forth, which is why I said I was done. I shouldn't have taken the bait and re-engaged by responding again, but here we are. This time I'm really done. I guess there's nothing more I can do for you either. Have a good night.

You clearly don't understand Options. If you did then you'd know it's a lease product. If there was any doubt, and there really isn't, just go over what separates a lease from a purchase. You can find that, among other places, here: https://www.humberviewgroup.com/guide/leasing-vs-financing/ They list a number of differences -- monthly payments, early termination, depreciation, customizing, wear and tear, and distance restrictions. In all but one Options falls into the "lease" category. Applying the duck test -- if it looks like a duck, swims like a duck, and quacks like a duck then it probably is a duck -- Options is a lease and not an purchase. (And that's even if you didn't understand that Options was developed as a lease alternative in states whose vicarious liability laws made leasing undesirable).

Moreover, if you understood Options then you'd understand that the difference between a new and used MME will be significantly greater than the difference for a typical vehicle, which makes GAP more attractive. Again, arguing that GAP is less attractive if Options is a purchase rather than a lease is totally misguided. Since the operative factor is the ratio of new/used prices, GAP holds the same value for purchases as it does for leases.

 

[horsiedad]

@Earplug , Sorry to hear about the collision. That really sucks. I felt bad enough when a deer hit my MME FE and my car was at the body shop for one week.

BTW, make sure the shop knows if you have PPF on the car. My stupid shop blended the paint across body panels right over the PPF that covered my wheel wells. When I pointed this out they just said "Oh well, It's covered under our ten-year warranty if it becomes a problem".

 

[RockDaphne98296]

No Emergency Braking or Warning Messages

This surprises me - I got the emergency siren and flashing dash the other day when a car in the right turn budged a little my way in the straight lane. I thought it was a little over reactive... Maybe you were already hitting the brakes...

How about the post impact assisted steering? Did the car offer to call 911 for you? I read that can happen if your phone is active in the system.

 

[Patchy]

@Earplug @Mach-E VLOG You guys are scaring me.
I’m another Mach-E owner in CO. Just went over 2100 miles and so far so good. ?

 

[Earplug]

This surprises me - I got the emergency siren and flashing dash the other day when a car in the right turn budged a little my way in the straight lane. I thought it was a little over reactive... Maybe you were already hitting the brakes...

How about the post impact assisted steering? Did the car offer to call 911 for you? I read that can happen if your phone is active in the system.

I was all but stopped by the time I hit her. No warnings, or steering assist. I have 911 turned off.

 

[Nklem]

You clearly don't understand Options. If you did then you'd know it's a lease product. If there was any doubt, and there really isn't, just go over what separates a lease from a purchase. You can find that, among other places, here: https://www.humberviewgroup.com/guide/leasing-vs-financing/ They list a number of differences -- monthly payments, early termination, depreciation, customizing, wear and tear, and distance restrictions. In all but one Options falls into the "lease" category. Applying the duck test -- if it looks like a duck, swims like a duck, and quacks like a duck then it probably is a duck -- Options is a lease and not an purchase. (And that's even if you didn't understand that Options was developed as a lease alternative in states whose vicarious liability laws made leasing undesirable).

Moreover, if you understood Options then you'd understand that the difference between a new and used MME will be significantly greater than the difference for a typical vehicle, which makes GAP more attractive. Again, arguing that GAP is less attractive if Options is a purchase rather than a lease is totally misguided. Since the operative factor is the ratio of new/used prices, GAP holds the same value for purchases as it does for leases.

Not to labor this any longer but.....


There is one very Important distinction between Options and a lease. The options is titled in your name, not the leasing companies name, as in a lease. Ford Motor Credit is the Leinholder and holds the title in your name Until you pay it off in full or you sign it over to them if you turn it in.

You are 100% the titled Owner. Just like a vehicle with a loan. Options is simply a loan with a balloon payment at the end and a contracted way out if you choose after 36-48 months. If you sum the total cost of every plan payment with the balloon payment with all different mileage options they sum to very similar numbers. You also pay sales tax up front on the entire purchase including the balloon payment , not on just the “lease
value”.

From my evaluation the 3 year term payment is a 6 year loan at 2.25% ending at payment 36 with a balloon payment for the balance of the unpaid principle.

the 48 month is a 7 year term......the same.

at 10,500 mile per year it is spot on With a conventional loan. The mileage adjustments (which are about a $10+ /month increase per selection) at and above 12k miles and higher simply have you pay a little more up front during that payment term, (to protect Ford for the car value if you hand it back) but reduce the balloon Payment In the end so the sum of all payments plus balloon is pretty much equal to a real 2.25% loan that you pay off early at month 36 or 48.

on top of it all, the $2500 rebate, basically pays you double or more of your actual interest if you finance the balloon at the end for 2-4 years.

I was skeptical until I evaluated it against a conventional 5-6-7 year loan. It was just about equal to a standard 5 year loan.

it is not Allowed in a few states, As “Balloon payment installment contracts“ with penalties are frowned upon By them. https://cga.ct.gov/2005/rpt/2005-R-0431.htm

I have attached a quick eval of the overall out of pocket cost of the Ford Options vs a conventional auto loan on a Mach-E assuming financing of the balloon payment at an arbitrary rate (who knows what the rates may be in 3-4 years with inflation, so I assumed 4%). The price of the particular car after the down payment and incentives was $46,738

Actually with the $2500 Options rebate and just 10% down (free State incentives, any extra Ford rebates and the difference in cash/trade) it equals the overall out of pocket cost of a conventional 2.25% car loan for 60 months, which is spread over 6-7 years. I found that pretty Interesting.

It is a worthwhile consideration as so many things can devalue the car at a later time, like the “bolt battery fire issue”, serious unknown battery degradation issue , discovery of a latent structural defect, blue drive drives the car into only oak trees due to a leaf reflection interaction with the sensors or even changing battery technology like solid state batteries or electric power out of thin air...lol!

Just my opinion though. Ford, offering this type of program for EV buyers, and incentivizing it, was a smart idea.

I did not believe it until I evaluated it a few days ago.

 

[generaltso]

a Mach-E assuming financing of the balloon payment at an arbitrary rate (who knows what the rates may be in 3-4 years with inflation, so I assumed 4%).

The Options contract lets you refinance the balloon at the same Options rate (currently 2.25%).

 

[Nav]

Not to labor this any longer but.....


There is one very Important distinction between Options and a lease. The options is titled in your name, not the leasing companies name, as in a lease. Ford Motor Credit is the Leinholder and holds the title in your name Until you pay it off in full or you sign it over to them if you turn it in.

You are 100% the titled Owner. Just like a vehicle with a loan. Options is simply a loan with a balloon payment at the end and a contracted way out if you choose after 36-48 months. If you sum the total cost of every plan payment with the balloon payment with all different mileage options they sum to very similar numbers. You also pay sales tax up front on the entire purchase including the balloon payment , not on just the “lease
value”.

From my evaluation the 3 year term payment is a 6 year loan at 2.25% ending at payment 36 with a balloon payment for the balance of the unpaid principle.

the 48 month is a 7 year term......the same.

at 10,500 mile per year it is spot on With a conventional loan. The mileage adjustments (which are about a $10+ /month increase per selection) at and above 12k miles and higher simply have you pay a little more up front during that payment term, (to protect Ford for the car value if you hand it back) but reduce the balloon Payment In the end so the sum of all payments plus balloon is pretty much equal to a real 2.25% loan that you pay off early at month 36 or 48.

on top of it all, the $2500 rebate, basically pays you double or more of your actual interest if you finance the balloon at the end for 2-4 years.

I was skeptical until I evaluated it against a conventional 5-6-7 year loan. It was just about equal to a standard 5 year loan.

it is not Allowed in a few states, As “Balloon payment installment contracts“ with penalties are frowned upon By them. https://cga.ct.gov/2005/rpt/2005-R-0431.htm

I have attached a quick eval of the overall out of pocket cost of the Ford Options vs a conventional auto loan on a Mach-E assuming financing of the balloon payment at an arbitrary rate (who knows what the rates may be in 3-4 years with inflation, so I assumed 4%). The price of the particular car after the down payment and incentives was $46,738

Actually with the $2500 Options rebate and just 10% down (free State incentives, any extra Ford rebates and the difference in cash/trade) it equals the overall out of pocket cost of a conventional 2.25% car loan for 60 months, which is spread over 6-7 years. I found that pretty Interesting.

It is a worthwhile consideration as so many things can devalue the car at a later time, like the “bolt battery fire issue”, serious unknown battery degradation issue , discovery of a latent structural defect, blue drive drives the car into only oak trees due to a leaf reflection interaction with the sensors or even changing battery technology like solid state batteries or electric power out of thin air...lol!

Just my opinion though. Ford, offering this type of program for EV buyers, and incentivizing it, was a smart idea.

I did not believe it until I evaluated it a few days ago.

Great write up, and points made. ?

Since it's not a lease, this will be easier/less costly to "early terminate" if you want. Just sell the car, payoff the balloon/remaining payments early, and that's it. Haven't actually looked into what this would entail with paperwork, or if the dealer needs to be involved. Will cross that bridge if needed before the 3 years are up.

 

[Ztug]

I estimate that from the time they appeared in front of me and the impact was 2-5 seconds. They came from the left from behind a semi crossing in front.

Last week I hit four small boar and while I'm sure I have at least $10,000 worth of damage, the collision-warning/ collision avoidance system did not do anything.

 

[SnowBunnE]

I went thru a similar ordeal last month. My initial damage quote was for 30k but, after further investigation, the car was totaled. I wound up picking up a Kia EV6 and now believe that the guy who hit me did me a huge favor.

I’m wishing you all the best and a speedy repair.

 

[Regularmache]

Last week I hit four small boar and while I'm sure I have at least $10,000 worth of damage, the collision-warning/ collision avoidance system did not do anything.

I went thru a similar ordeal last month. My initial damage quote was for 30k but, after further investigation, the car was totaled. I wound up picking up a Kia EV6 and now believe that the guy who hit me did me a huge favor.

I’m wishing you all the best and a speedy repair.

So Mach Es are so bad SnowBunnE, that we should hope somebody totals our car so we can
get a KIA?

But you do wish us all the best at least.......

 

[SnowBunnE]

So Mach Es are so bad SnowBunnE, that we should hope somebody totals our car so we can
get a KIA?

But you do wish us all the best at least.......

Nope. Not saying that at all. For ME this was a win win. As the saying goes, what you eat don’t make me . I think the Mach E is an amazing vehicle. I’m just glad MINE was totaled. That’s what I’m saying. M’kay?

 

[ripperAZ]

Holy Deductible Batman. I guess collision avoidance was still in the Batcave?

Glad you are Ok. Horrible time to total a car with the pricing and availability. In a regular market you’d probably just get a new one in today’s market you’re probably going to get that one repaired.

Best of luck. Keep us informed. Sadly one of us is likely next

Jes sayin

 

[MyLittlePony2022]

I am sorry for those that posted that had their cars damaged. The positive side is that you are foster a great conversation and some of us learned from it. I was on the fence for GAP insurance from the loan company but the $350 seems worth the little cost. I also am thankful for the comments on diminished value. I am going to ask my insurance agent about his cost.

My big concern would be not that the vehicle is wrecked but totaled. Good luck getting a new MME, especially now that Ford is no longer taking 2022 orders. The dealers are going to be hitting people with high ADM's. Time to buy a used bolt at this point.

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