Another Mach-E Crash Report and Repair Cost Estimate

[JoeDimwit]

Not my fault. Other driver blew a stop sign. Couldn't stop in time. The irony is that just 10 minutes earlier and 4 miles away she rear ended a Tesla!

was she at least sitting in the drivers seat?

Sponsored

 

[dtbaker61]

Not my fault. Other driver blew a stop sign. Couldn't stop in time. The irony is that just 10 minutes earlier and 4 miles away she rear ended a Tesla! No airbags and no injuries. No, the driver was not impaired.

999.4 miles on my MME. Initial repair estimate $16,621.98.

damn!
...glad to hear YOU are ok!

Is your Insurance pushing for Repair, or considering 'totaling' it?

I don't want to be a vulture, but I'm wondering what is going to happen to all the great almost-new parts that are going to start becoming available as MME have accidents.... battery packs, motors, controllers in particular.

 

[Earplug]

damn!
...glad to hear YOU are ok!

Is your Insurance pushing for Repair, or considering 'totaling' it?

I don't want to be a vulture, but I'm wondering what is going to happen to all the great almost-new parts that are going to start becoming available as MME have accidents.... battery packs, motors, controllers in particular.

The repair estimate is only $17k, not even close to totaling. No real "major" damage. Just Hood, fenders and facia. Sensors and Camera stuff.

 

[Earplug]

Dude I would lose my shit if that happened to mine. that lady is going to have a hell of an insurance premium.
How did that even come up? Did she just casually bring it up?

The passenger/boyfriend blurted it out. Kinda like "oh crap, not again".

 

[Earplug]

"I'm so sorry. I was so shaken up from having just creamed a Tesla 10 minutes ago that I didn't even see the stop sign." ?

She was actually stopped at the stop sign. There were a couple a Semi's going past. When the Semi cleared the intersection she went for it. The trucks were blocking her view of me coming.

 

[JoeDimwit]

damn!
...glad to hear YOU are ok!

Is your Insurance pushing for Repair, or considering 'totaling' it?

I don't want to be a vulture, but I'm wondering what is going to happen to all the great almost-new parts that are going to start becoming available as MME have accidents.... battery packs, motors, controllers in particular.

No kidding… supposedly the power difference between a Mach-E4x and a GT is that the GT has the same motor in the front and back as o 4x has in the back. I’m sure there’s some programming that would need to be changed a bit, but can you say sleeper?

 

[BadgerGreg]

Ouch...sorry to see that, and glad you're safe. Also interested in knowing how much damage the other driver caused that day and whether her auto insurer will dump her policy after all of that...

 

[DBC]

I highly doubt that is accurate. I can't believe an insurance company would attempt to deduct tax credits or state rebates you may or may not have received/been eligible for from the value of the vehicle.

How exactly you would lose the $10K-$15K? You already collected (or will collect) that as part of the purchase.

The primary reason for using Options for me is that if the car's value plummets during the first 3-4 years, or if turns out to be crap, I have a relatively painless way out.

GAP insurance always was and is a scam. Its primary purpose is to protect the lender and generate revenue for the dealer. The way to tell it's a scam is that the dealer is pushing it, along with nitrogen in the tires and scotch guarding seats, and undercoating, and wheel locks, etc.

The insurance company is going to pay FMV for the "used" car. The FMV of a used MME will reflect the subsidies. IOW the FMV(Used) = FMV(New) - Subsidies - Depreciation. This is completely different than the normal situation where all you are looking at is depreciation.

To put some numbers on it: If the MME costs $55K, and you put $5K down, and you get hit a week after you drive it off the lot, the insurance company will pay you the FMV, which will likely be less than $40K, but you will owe $50K. With GAP you are out the $5K down but you get to keep the $10K in subsidies. Without it you are out the $5K down plus the $10K difference between the FMV and what you still owe, offset by the $10K in subsidies. With GAP you're $5K better off. Without it you're $5K worse off. Basically 10K reasons why you might want GAP.

Compare this with a standard vehicle where the FMV of the vehicle might be $53K and you won't even be out the down.

FWIW dealers don't "push" GAP since it's standard in car leases.

Why? Putting more down means borrowing less. Everyone's circumstances are different, but I'm not seeing why that would be an odd choice.

How much you put down doesn't change the fact that GAP makes sense when leasing a subsidized electric vehicle. Doesn't matter if you put 5%, 10%, 20%, or 30% down. The loss will be the same.

As for it being an odd choice, why do you think anyone would want to do this? The great allure of leasing is that you minimize the down and the monthly payments as you match those payments with usage. Putting so much down destroys the advantages and leaves you with the disadvantages, one of which is that the lack of flexibility in your next purchase. While there is always the outlier, in the real world people who think putting down more means borrowing less aren't going to be interested in leasing since in leasing you are always borrowing. LOL

 

[shutterbug]

he insurance company is going to pay FMV for the "used" car. The FMV of a used MME will reflect the subsidies. IOW the FMV(Used) = FMV(New) - Subsidies - Depreciation. This is completely different than the normal situation where all you are looking at is depreciation.

To put some numbers on it: If the MME costs $55K, and you put $5K down, and you get hit a week after you drive it off the lot, the insurance company will pay you the FMV, which will likely be less than $40K, but you will owe $50K. With GAP you are out the $5K down but you get to keep the $10K in subsidies. Without it you are out the $5K down plus the $10K difference between the FMV and what you still owe, offset by the $10K in subsidies. With GAP you're $5K better off. Without it you're $5K worse off. Basically 10K reasons why you might want GAP.

It isn't actually known what the FMV of a used MME is, since I doubt too many have been sold yet. The insurance company would end up relying on comparable sales of cars that sold for the same price. Also, when it comes to that FMV is actually negotiable with the insurance company. I know because I've been there.

FWIW dealers don't "push" GAP since it's standard in car leases.

With leases they require it to protect the finance company. The dealers still push GAP insurance on regular financing, and if they think you're gullible enough on cash sales. It still a scam. Also, if you're leasing, you aren't getting any of the tax credits or other subsidies. Leases themselves are essentially a scam for most buyers, meant to sucker rubes into getting a car they can't afford.

 

[BMT1071]

It isn't actually known what the FMV of a used MME is, since I doubt too many have been sold yet. The insurance company would end up relying on comparable sales of cars that sold for the same price. Also, when it comes to that FMV is actually negotiable with the insurance company. I know because I've been there.

With leases they require it to protect the finance company. The dealers still push GAP insurance on regular financing, and if they think you're gullible enough on cash sales. It still a scam. Also, if you're leasing, you aren't getting any of the tax credits or other subsidies. Leases themselves are essentially a scam for most buyers, meant to sucker rubes into getting a car they can't afford.

Not sure how you formed that opinion of leasing. Of course it's not the way to go with an MME because of the tax credit, but there are many plusses on an ICE vehicle.

 

[shutterbug]

Not sure how you formed that opinion of leasing. Of course it's not the way to go with an MME because of the tax credit, but there are many plusses on an ICE vehicle.

Simple. Say I buy a F150 truck for about $58K. On a 48mo Ford lease, I'd pay $43K and be left with nothing. I can get a 4 year loan, pay $65K and be left with a truck worth $30K-$40K. So, unless I can expense lease payments (which personally I can't), lease is sucker's bet. I'm assuming 1.74% rate from my credit union, and not 3.9% rate, that Ford is currently offering.

 

[generaltso]

How much you put down doesn't change the fact that GAP makes sense when leasing a subsidized electric vehicle. Doesn't matter if you put 5%, 10%, 20%, or 30% down. The loss will be the same.

As for it being an odd choice, why do you think anyone would want to do this? The great allure of leasing is that you minimize the down and the monthly payments as you match those payments with usage. Putting so much down destroys the advantages and leaves you with the disadvantages, one of which is that the lack of flexibility in your next purchase. While there is always the outlier, in the real world people who think putting down more means borrowing less aren't going to be interested in leasing since in leasing you are always borrowing. LOL

Why are you talking about leasing? We were talking about Options. They’re not the same. Options is a loan. If you put more down, you borrow less. That’s just math.

 

[peoples1234]

Simple. Say I buy a F150 truck for about $58K. On a 48mo Ford lease, I'd pay $43K and be left with nothing. I can get a 4 year loan, pay $65K and be left with a truck worth $30K-$40K. So, unless I can expense lease payments (which personally I can't), lease is sucker's bet. I'm assuming 1.74% rate from my credit union, and not 3.9% rate, that Ford is currently offering.

That’s a terrible lease example, but if that is what you think a lease is then I see why your not a fan. Leases are fine if you are frequently turning over cars. You just have to be honest with yourself. If you buy a car and keep it for ten years a lease will cost you more in the long run. If you trade in every two to 4 years, then a lease can be a great option for a guaranteed residual.

 

[shutterbug]

That’s a terrible lease example, but if that is what you think a lease is then I see why your not a fan. Leases are fine if you are frequently turning over cars. You just have to be honest with yourself. If you buy a car and keep it for ten years a lease will cost you more in the long run. If you trade in every two to 4 years, then a lease can be a great option for a guaranteed residual.

That's why I used a 4 year lease as an example. For a truck that will easily last 15 years! With a shorter term, you're just shoveling money out the window faster.

 

[BMT1071]

That's why I used a 4 year lease as an example. For a truck that will easily last 15 years! With a shorter term, you're just shoveling money out the window faster.

Your numbers don't match up with any lease I've ever heard of. Please provide the documents that show a $5k residual on a 4 year old F-150

Sponsored