Depreciation

[Derail_90]

Hi all. I have a 2021 Mach E GT. It currently has 54k miles on it. Mint condition. I’ve thought about trading it in for a 5.0 but with the amount that it’s depreciated financially just doesn’t make sense. Brand new the car was 64k. 5 years later it’s worth 17k - 21k depending on who’s offering. Has anyone had this experience and found a way out of the car without getting completely shafted?

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[ipca204]

yes. don't buy one. then you never have to worry about depreciation.

 

[RickMachE]

Hi all. I have a 2021 Mach E GT. It currently has 54k miles on it. Mint condition. I’ve thought about trading it in for a 5.0 but with the amount that it’s depreciated financially just doesn’t make sense. Brand new the car was 64k. 5 years later it’s worth 17k - 21k depending on who’s offering. Has anyone had this experience and found a way out of the car without getting completely shafted?

Guess you haven't spent much time here since you joined last July. EVERYONE has the same experience, and no, there is no way to gain back that depreciation.

 

[JohnFoxeSheets]

Just curious, is there a specific reason you want "out of the car"?

yes. don't buy one. then you never have to worry about depreciation.

Or keep the car until it dies and then donate it to charity for the tax deduction.

 

[A-A-Ron]

If you can start a global pandemic combined with an economic stimulus and a silicon chip shortage, past experience says you can get these cars to appreciate.

Otherwise,

 

[Derail_90]

Guess you haven't spent much time here since you joined last July. EVERYONE has the same experience, and no, there is no way to gain back that depreciation.

Yea. I pop in here and there but figured maybe someone experience could be different from mine. Thanks for the response though.

 

[Derail_90]

Just curious, is there a specific reason you want "out of the car"?


Or keep the car until it dies and then donate it to charity for the tax deduction.

Honestly never thought of this. I only got it while I went back to school. I use to own a RTR Mustang and thinking to get a 5.0. But I don’t want one bad enough to cover the depreciation. Lol

 

[AtomicInternet]

This is why leasing makes sense for EVs. The depreciation and rapid technological improvements just don't lend well to purchases.

I agree, you should keep it till it dies. If the latest news is correct, there will only be one generation of MachE so on the bright side it will never look dated.

 

[devmach-e]

This is why leasing makes sense for EVs. The depreciation and rapid technological improvements just don't lend well to purchases.

I agree, you should keep it till it dies. If the latest news is correct, there will only be one generation of MachE so on the bright side it will never look dated.

This subject comes up often. The truth is that there isn't rapid technological improvements, just incremental ones. Only after about 10 years do you see any sort of radical changes. And this hardly an EV issue, it applies to the broader automobile market.

As to leasing, it only makes sense if you can keep to the mileage limits, don't care about actually owning a car/building equity, and like to upgrade cars every few years. I've never had a situation where it works for me.

My Ford Options loan is up in 3 months. My inclination is to keep the car and refinance the balloon amount. I keep my cars 7 to 12 years and put 15K to 20K miles per year on them. Done this for 30 years. Don't see any reason to stop now.

 

[devmach-e]

Yea. I pop in here and there but figured maybe someone experience could be different from mine. Thanks for the response though.

Want to minimize the depreciation? Keep the car for another 5 years.

 

[Shepherd]

I never worried about depreciation in the past. I paid cash and never rolled over underwater debt. The Mach-E is a special case though. I didn't pay as much as the early adopters, but still a lot IMO for a new car. I took a 0% interest loan from Ford and depreciation will only bite me if the car gets totaled in a wreck. I have owned it for 2 years and I intend to keep it for 5 more at least.

 

[music_cities]

Hi all. I have a 2021 Mach E GT. It currently has 54k miles on it. Mint condition. I’ve thought about trading it in for a 5.0 but with the amount that it’s depreciated financially just doesn’t make sense. Brand new the car was 64k. 5 years later it’s worth 17k - 21k depending on who’s offering. Has anyone had this experience and found a way out of the car without getting completely shafted?

I usually just keep the car for 15-20 years, so that the depreciation is over more years. There's less depreciation in the later years, so the average depreciation per-year is a lot less if you keep it longer.

 

[Makiato]

Hi all. I have a 2021 Mach E GT. It currently has 54k miles on it. Mint condition. I’ve thought about trading it in for a 5.0 but with the amount that it’s depreciated financially just doesn’t make sense. Brand new the car was 64k. 5 years later it’s worth 17k - 21k depending on who’s offering. Has anyone had this experience and found a way out of the car without getting completely shafted?

I usually just keep the car for 15-20 years, so that the depreciation is over more years. There's less depreciation in the later years, so the average depreciation per-year is a lot less if you keep it longer.

all cars depreciate

 

[Blue highway]

hmm brand new the car wasn't 65k. it was at least 7500 less than that, and in some states even less. so yeah, depreciation is bad, but the starting point is what everyone actually paid.

 

[ChehRob]

From reading this site in 2023 the extended range AWD version good price was about $53K, I emailed a local dealership and that was what they asked for. No trade-in, not bargaining on either side. The zero percent financing meant an effective price in the mid 40s.

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