Dilema....Trade in.....Sell......or keep (not really an real option)

[clhardy5]

Dilema....(I know..a good one). I originally ordered my Mach E on July 13th...but ended up finding - and buying - a cancelled order in October at MSRP. It is a premium AWD with extended range battery - in Rapid Red. I LOVE the car. Fast forward - today, I get the call that my original order (now a GT PE in white) has arrived at the dealer.

1). Do I let the order go because I really do love my preimum.

2) Do I go and test drive the GT - cause...who knows...I may like it better, and then decide....Which brings me to these two choices....

a). Trade in the premium (potential sales tax savings), My tax rate is 7%....so I wouldn't pay sales tax on what they value my trade at.

b). Try to sell the premium on the open market.......

or (not very likely)....keep both cars so my hubby can have a his and me a hers? I'm just not sure that if I decided to buy the GT.....and sell the premium - what the best option is?

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[RickMachE]

Sell Premium privately.

 

[Astraea]

1. Go for a test drive in it.
2. Buy it. Because you will love it!
3. Keep both, don't tell hubby so you don't have to share
4. Drive off into the sunset with a different MME every night and never get bored of it!

 

[npgeorgeuw]

If you can afford both and don't mind having two cars with similar niches or use cases then more power to you. After my Bolt got bought back I had an option to get a new EUV for basically nothing but didn't really have a choice on color. So now we have a rapid red MME GT PE, cherry red tint EUV and a stng grey gladiator. I'm not a fan of two red cars but they have enough difference in use cases I'm fine with it and, well, it was basically free.

At least your's would be different colors. But you will still have the same dilemma we do... Take the more efficient car on the road trips or take the more fun car. At least in our case the more fun car DCFCs a lot faster than the more efficient one.

In your case, just take the more fun one.

 

[SpaceEVDriver]

If it's not a waste of your time to go test drive it, then there's no harm in testing the GT.

Get offers from Vroom and the other big used vehicle buyers so you know what the Premium is worth before you go in. It'll be around what you paid, but it's nice to have the number ready. Then if the dealer's offer + 7% is less than the Vroom/etc offer, you know that you can get a better deal on the private market. If you're financing, that 7% becomes even more after compounding, but you'll have to do the math with your specific case.

If your tax liability this year is at least $7500, you will likely get that as another benefit from the purchase of the GT. The state of Colorado may have additional incentives.

The newer model year and lower miles is also an additional bonus on the value of buying into the GT.

Because of the weird used car market and the incentives, you could end up trading your used car for a new car for nearly no additional cost to you. That's nothing to sneeze at.

 

[Neil4Real]

Drive it, you’ll love it. I went from a Premium to a GTPE and have absolutely no regrets. Way better suspension and love the seats and their bolsters, really allow for fun driving!

 

[MyLittlePony2022]

My only input is if you give up the premium, the dealer will sell it at a premium (pardon the pun). If you buy it and sell it privately, you have the option to not sell it at $10K over MSRP (like the dealer) and sell it to at or a little over MSRP. This might give someone on the forum the option to get it.

 

[Mach1E]

Dilema....(I know..a good one). I originally ordered my Mach E on July 13th...but ended up finding - and buying - a cancelled order in October at MSRP. It is a premium AWD with extended range battery - in Rapid Red. I LOVE the car. Fast forward - today, I get the call that my original order (now a GT PE in white) has arrived at the dealer.

1). Do I let the order go because I really do love my preimum.

2) Do I go and test drive the GT - cause...who knows...I may like it better, and then decide....Which brings me to these two choices....

a). Trade in the premium (potential sales tax savings), My tax rate is 7%....so I wouldn't pay sales tax on what they value my trade at.

b). Try to sell the premium on the open market.......

or (not very likely)....keep both cars so my hubby can have a his and me a hers? I'm just not sure that if I decided to buy the GT.....and sell the premium - what the best option is?

Of course you have to at least test drive the GT.

And if you like it, trade or sell, whatever gives you the most money. And since Carvana, Vroom, CarMax etc give you offers in a few minutes, it’s easy to see who gets you the most money.

 

[clhardy5]

Thanks everyone! We test drove it...and bought it....but didn't trade in the Premium. We decided to drive both for a couple of months, and decide which (if any) we will sell . My vote is to keep both, and sell my hubby's 2006 Corvette....but the jury out

 

[Mach-Tony]

I tried selling my MME premium privately, for less than MSRP, with zero success. People wanted to only pay less because "I got the rebate and they didn't" and I ended up selling it to CarMax for $4k over MSRP. I would so a trade-in to the dealer, especially since you get a tax break on a trade in.

 

[ridgebackpilot]

I tried selling my MME premium privately, for less than MSRP, with zero success. People wanted to only pay less because "I got the rebate and they didn't" and I ended up selling it to CarMax for $4k over MSRP. I would so a trade-in to the dealer, especially since you get a tax break on a trade in.

Only in some states do you get a tax break on the value of a trade-in. if you live in California, Hawaii, Kentucky, Maryland, Montana, or Washington, D.C., you'll pay sales tax on the full price of the new vehicle, regardless of your trade-in allowance.

If you live in one of five states: Alaska, Delaware, Montana, New Hampshire or Oregon — you won't pay sales tax on a new car.

The remaining states deduct the trade-in value from the price of a new car before figuring sales tax. Some states cap the deduction you're allowed for a trade, but others don't.

 

[NJ_MachE]

Only in some states do you get a tax break on the value of a trade-in. if you live in California, Hawaii, Kentucky, Maryland, Montana, or Washington, D.C., you'll pay sales tax on the full price of the new vehicle, regardless of your trade-in allowance.

If you live in one of five states: Alaska, Delaware, Montana, New Hampshire or Oregon — you won't pay sales tax on a new car.

The remaining states deduct the trade-in value from the price of a new car before figuring sales tax. Some states cap the deduction you're allowed for a trade, but others don't.

You do not pay sales tax on EVs in New Jersey. Always best to double check the specifics related to your state.

 

[rcechinel]

Sell Premium privately.

Yes, or if you want zero hassle, sell to Carvana. They are posting on the money. I sold my Mercedes C300 to them in January and they paid at least $3k more than any other dealer offered me.

 

[generaltso]

Only in some states do you get a tax break on the value of a trade-in. if you live in California, Hawaii, Kentucky, Maryland, Montana, or Washington, D.C., you'll pay sales tax on the full price of the new vehicle, regardless of your trade-in allowance.

If you live in one of five states: Alaska, Delaware, Montana, New Hampshire or Oregon — you won't pay sales tax on a new car.

The remaining states deduct the trade-in value from the price of a new car before figuring sales tax. Some states cap the deduction you're allowed for a trade, but others don't.

And some states give you the tax break even if you sell your old car privately.

 

[DrJay32]

I tried selling my MME premium privately, for less than MSRP, with zero success. People wanted to only pay less because "I got the rebate and they didn't" and I ended up selling it to CarMax for $4k over MSRP. I would so a trade-in to the dealer, especially since you get a tax break on a trade in.

Another reason why ADM is screwing everyone. When Ford advertises the price of the MME, they include tax savings, which lowers the perceived consumer value.

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