Anyone gotten a ridiculous buy offer for your used MME?

[wasabi911]

I smell a flipping opportunity. Bought my MME Select off a lot and after dealer rebate ($2500), manager rebate ($500) fed credit ($7500), state rebate ($2500 on the way)...I'm in like 36K. Went Ford option so not sure of any restrictions. I guess I am in for the payoff amount, but if these are going for 50K+, one could make a tidy profit.

Can the fed credit be used more than once, guessing not in the same year. At any rate, encouraging to see these have some good value in the market.

I'm thinking of getting a MME. How were you able to get the dealer rebate ($2500) and manager rebate ($500)?

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[itsthenewdc]

Got my Vroom quote back for $54,000. Unfortunately, my sale price for the Infinite Blue FE was more and then after taxes and all that the final bill was $68k. Even taking advantage of the tax credit would leave me ~$6.5k in the hole. Didn’t plan on selling, but was interested in seeing if it was a scenario that lead to some profit given the market. Guess I’ll go back to waiting for my BlueCruise OTA ?

 

[RickMachE]

One thing you'll find is a wide discrepancy between Vroom, Carvana and CarMax, depending on a bunch of things including location, local demand, etc.

CarMax was almost competitive, and I would only have to drive 129 miles each way... They should not even price it out once you put in the zip code.

Vroom was not competitive on my Fusion Energi, way, way low.

Carvana comes to your house. In my case, they were moving locations, so I had to wait almost a week. Then they came without the flatbed, and 40 minutes late. Car is still sitting on the street in front of my house a day later, awaiting the tow truck they called that "will be here within 24 hours". I told them that they may find the HOA decides to tow it if they don't get it quickly, not my problem since the funds were ACH'd overnight.

 

[Regularmache]

No, it's not inflation. It's lack of supply.

When a vehicle goes up by 15% in a week, that's not inflation.

You're describing one of the causes of inflation, but it is indeed textbook inflation.
"Here are the major causes of inflation:
-Demand-pull inflation. Demand-pull inflation happens when the demand for certain goods and services is greater than the economy's ability to meet those demands.

The lack of adequate new supply along with the losses to existing supply via accidents, End of service life, etc; are the main causes, but yes, it is absolutely inflation!

 

[J5hort]

I'm thinking of getting a MME. How were you able to get the dealer rebate ($2500) and manager rebate ($500)?

$2500 was advertised at dealer. Not sure if this was a Ford incentive or dealer, but the extra $500 was after negotiations. I played the wait until end of month game a bit as sales quotas usually need to be met. If you are looking for a Select, you can probably get a similar deal. May be worth the trip to RI. Let me know if you need a contact.

 

[Mach-Tony]

Not bad from Vroom. I'm in $37k plus taxes after rebates.

 

[J5hort]

I'm almost afraid to run my MME thru Vroom/Carmax/Etc.

Reminds me of some friends that noted the real estate prices and houses selling for crazy money, they listed their house for what they thought was crazy...and it sold. They do not want to move! Now they need to find a new house...and provided they can find one, pay a premium.

 

[Skepteach]

I'm almost afraid to run my MME thru Vroom/Carmax/Etc.

Reminds me of some friends that noted the real estate prices and houses selling for crazy money, they listed their house for what they thought was crazy...and it sold. They do not want to move! Now they need to find a new house...and provided they can find one, pay a premium.

I will fully admit, I had *zero* interest in actually selling my MME. Just when my friend got that nutty offer on his Tesla, I thought what the heck and gave it a shot. The offer of $50k on a car I paid $47k for and will get back $7500 for...well it was tempting. I think I've successfully resisted temptation though and am declining their offer. Nothing else I would want to be driving right now anyway and the MME ticks all kinds of boxes for me.

 

[Mach1E]

The part I don’t understand is how these used car lots plan on making money.

Who is paying thousands over Msrp for a used car?

I could understand if someone didn’t get the tax credit (no taxable income), then getting a used one UNDER msrp would make sense.

But over? A head scratcher for sure since it doesn’t seem too hard to find a new one at msrp.

 

[rodhx]

The part I don’t understand is how these used car lots plan on making money.

Who is paying thousands over Msrp for a used car?

I could understand if someone didn’t get the tax credit (no taxable income), then getting a used one UNDER msrp would make sense.

But over? A head scratcher for sure since it doesn’t seem too hard to find a new one at msrp.

Me either. My son just sold his 2016 Civic to Carvana, a base coupe with manual transmission, for $1000 more than I paid for it 3 years and 40k miles ago. It was a no brainer to let them have it.

 

[J5hort]

I will fully admit, I had *zero* interest in actually selling my MME. Just when my friend got that nutty offer on his Tesla, I thought what the heck and gave it a shot. The offer of $50k on a car I paid $47k for and will get back $7500 for...well it was tempting. I think I've successfully resisted temptation though and am declining their offer. Nothing else I would want to be driving right now anyway and the MME ticks all kinds of boxes for me.

Can you get the $7500 tax credit multiple times? Certainly another $7500 in the same year may exceed your liability (depending on your filing), so that would have to be take into consideration. Personally, I'd only get about 1 and a half $7500 credits or have to wait until next tax year. Not sure we are even close to production number lmitations for program, but that could become a factor as well.

Yes, very happy with MME purchase, but nice to know that there is value there and it did not sink like a stone once you bought it like other new cars.

 

[Skepteach]

Can you get the $7500 tax credit multiple times? Certainly another $7500 in the same year may exceed your liability (depending on your filing), so that would have to be take into consideration. Personally, I'd only get about 1 and a half $7500 credits or have to wait until next tax year. Not sure we are even close to production number lmitations for program, but that could become a factor as well.

Yes, very happy with MME purchase, but nice to know that there is value there and it did not sink like a stone once you bought it like other new cars.

If you have enough tax liability, yes. I don't, so had I taken their offer, I wouldn't turn around and get another vehicle this year.

 

[RickMachE]

Can you get the $7500 tax credit multiple times? Certainly another $7500 in the same year may exceed your liability (depending on your filing), so that would have to be take into consideration. Personally, I'd only get about 1 and a half $7500 credits or have to wait until next tax year. Not sure we are even close to production number lmitations for program, but that could become a factor as well.

Yes, very happy with MME purchase, but nice to know that there is value there and it did not sink like a stone once you bought it like other new cars.

There are many threads showing that Ford won't lose the full rebate, absent a Congressional change, until late next year.

Yes, you can get multiple tax credits. However, there is requirement to qualify - You acquired the vehicle for use or to lease to others, and not for resale.

Of course the IRS would have to show you had the intent on buying the first vehicle for resale.

We ordered a Premium on 5/29, expecting delivery in November or so. Got a cancelled order on 7/2. Our 2021 order is now a 2022 order, with an unknown delivery, but likely Feb or later. Assuming the market holds like this with high resales, we will evaluate selling our current vehicle and getting the brand new and identical 2022. We had no intent on reselling when we bought it, and owning a vehicle for 8 or so months and then selling is a normal thing that people do.

As to taxes, many can convert traditional IRA funds to Roth and thereby "generate" income that then would be taxed to use up the credit. We will either do that, or sell some taxable investments that have large capital gains, in order to fully utilize the tax credit.

 

[J5hort]

The part I don’t understand is how these used car lots plan on making money.

Who is paying thousands over Msrp for a used car?

I could understand if someone didn’t get the tax credit (no taxable income), then getting a used one UNDER msrp would make sense.

But over? A head scratcher for sure since it doesn’t seem too hard to find a new one at msrp.

Or below MSRP depending on what trim you prefer. I paid $3K under MSRP and had it in days. Under MSRP/Over MSRP is basic rules of supply and demand.

 

[J5hort]

There are many threads showing that Ford won't lose the full rebate, absent a Congressional change, until late next year.

Yes, you can get multiple tax credits. However, there is requirement to qualify - You acquired the vehicle for use or to lease to others, and not for resale.

Of course the IRS would have to show you had the intent on buying the first vehicle for resale.

We ordered a Premium on 5/29, expecting delivery in November or so. Got a cancelled order on 7/2. Our 2021 order is now a 2022 order, with an unknown delivery, but likely Feb or later. Assuming the market holds like this with high resales, we will evaluate selling our current vehicle and getting the brand new and identical 2022. We had no intent on reselling when we bought it, and owning a vehicle for 8 or so months and then selling is a normal thing that people do.

As to taxes, many can convert traditional IRA funds to Roth and thereby "generate" income that then would be taxed to use up the credit. We will either do that, or sell some taxable investments that have large capital gains, in order to fully utilize the tax credit.

Provided you have owned the ROTH account for 5 years. You still pay taxes on the IRA to ROTH conversion if you IRA was funded with pre-tax dollars. There is also a 10% pre 59.5 years of age penalty to withdraw. Seems like a lot to go thru to make a couple thousand dollars. Not saying it cannot work, but depends on many of your personal factors. For most, it may not be as attractive as on the surface.

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