Ford Pricing during Covid

[zvez]

I am also in this sinking ship

its only sinking if you sell it, keep driving it, get your money's worth,

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[Phil Martin]

No negative equity and less than 3% on the loan. With it being a new car, even for ford, they just took advantage and jacked up the price.

Then why did you sign the purchase agreement?

 

[Sandpiper]

You can't turn back the clock, enjoy it and move on.

 

[Bruboy]

I would suggest sending a PM to @Ford Motor Company. There clearly appears to be a problem if you’ve owned your car for three years and still owe 45k on it. In this situation, Ford will usually cancel your loan. The most important thing is that you get to drive a newer vehicle.

I have never heard of "cancel a loan" except from my bookie. Please let us know what happens.

 

[4sallypat]

I have never heard of "cancel a loan" except from my bookie. Please let us know what happens.

Loan Forgiveness ?

 

[jay1122]

It is not unusual one takes a bath from the peak price covid purchase. All the tesla buyers suffered. But trying to sell the car in just 3 years and go through the massive new car depreciation again when you still have outstanding loan is just funny.

If you like drive new car every 3 year and not mind having endless monthly payments. Should just go lease.

 

[devmach-e]

No negative equity and less than 3% on the loan. With it being a new car, even for ford, they just took advantage and jacked up the price.

Ford Motor Company didn't take advantage of you. The dealership, an independent business, is the one that took advantage of market conditions and jacked up the price. You didn't have to buy the car at the inflated price. You could have ordered the specific car you wanted and paid MSRP. You just had to wait for the specific car you ordered to come in. At least that's how it worked for me.

 

[moog]

Buy high - sell low...right?

Seriously, you made a poor decision. That's ok. Learn from it and move on.
Drive it until the wheels fall off.

 

[milepost1]

I bought my 21 MME Premium in nov of 21 during the “shortage” but I really needed a car and love it. Unfortunately I still owe 45k today. After price drops and such it looks I made a 20k mistake. Anyone run into this or have a possible solutions. Want to trade up to a newer version but can’t just eat 20k to do it.

Ford does not set resale of cars. Unless you lease. In the lease it wil tell the "residual" (car price) at end of lease. If the value is more than residual keep it and sell. If value is less than residual, say thank you and walk away.

 

[Murse-In-Airy]

I bought a chicken Big Mac today. I wanted to try something new. After a couple bites though, I feel it’s time to upgrade. The double quarter pounder with cheese is my next bestie. I didn’t eat very much of the Chicken Big Mac. There’s plenty of usable life left for a second owner. But the franchise owner of the McDonald’s won’t offer me hardly a damn thing on trade in. How could a gently used chicken Big Mac depreciate so fast? I’m pretty sure it’s a conspiracy by Chicken Ranchers, the Cow’s from the Chik-fil-A commercials, and the makers of statins. I’m thinking of exercising my rights as an American to sue someone. I deserve a better trade in after buying a depreciating asset. Anyone want to go halves on a Lawyer. I’ll pay my half with gently used fast food.

 

[Trick.Mach-E]

Buy high - sell low...right?

Seriously, you made a poor decision. That's ok. Learn from it and move on.
Drive it until the wheels fall off.

This guy has made a lot of money buying high and selling low!

 

[azerik]

I think I might have. This is why we have /s. For people like me.

You are welcome. /s

Loan Forgiveness ?

Don’t say that 3 times in the mirror. It’ll become a thing!

 

[Mach1E]

Ford Motor Company didn't take advantage of you. The dealership, an independent business, is the one that took advantage of market conditions and jacked up the price. You didn't have to buy the car at the inflated price. You could have ordered the specific car you wanted and paid MSRP. You just had to wait for the specific car you ordered to come in. At least that's how it worked for me.

Why do people use words like “took advantage” when talking about a mutually agreed upon deal by willing competent participants?

No one was taken advantage of.

Did I take advantage of the dealer when they gave me waaaaaay more for my used car when I bought my Mach E?

Other than the “take advantage” thing I agree with what you said.

Most people paid invoice (which is MSRP) or less (X plan) in 2021. Actually a pretty fair deal at the time.

I do think it’s kinda funny that the OP wasn’t happy with the depreciation on his new car so he wants to buy another new car and go through the same thing again…..

 

[DennisD]

Why do people use words like “took advantage” when talking about a mutually agreed upon deal by willing competent participants?

No one was taken advantage of.

Did I take advantage of the dealer when they gave me waaaaaay more for my used car when I bought my Mach E?

Other than the “take advantage” thing I agree with what you said.

Most people paid invoice (which is MSRP) or less (X plan) in 2021. Actually a pretty fair deal at the time.

I do think it’s kinda funny that the OP wasn’t happy with the depreciation on his new car so he wants to buy another new car and go through the same thing again…..

I personally think the OP is baiting us and is not serious.

On the other hand, if they truly think it is someone else's fault for them making an Ill informed financial decision, this is the least of their problems.

If they are serious about this, just imagine how many "poor" decisions this person has made in their lifetime and will continue making in the future.

Think about it. They purchased a new car that depreciated and their "way out of it", is to purchase another new car and expect the law of economics to change in their favor and somehow claw out of their depreciated asset by making said purchase.

I just hope that they are not this foolish but seeing how many people living "in the red", I unfortunately suspect they may be serious after more thought on this.

In any event, this is both funny and sad. I just hope that I raised my kids not to do (or think) the way the OP supposedly did.

 

[4sallypat]

Why do people use words like “took advantage” when talking about a mutually agreed upon deal by willing competent participants?

No one was taken advantage of.

Did I take advantage of the dealer when they gave me waaaaaay more for my used car when I bought my Mach E?

Other than the “take advantage” thing I agree with what you said.

Most people paid invoice (which is MSRP) or less (X plan) in 2021. Actually a pretty fair deal at the time.

I do think it’s kinda funny that the OP wasn’t happy with the depreciation on his new car so he wants to buy another new car and go through the same thing again…..

Agree - when I traded in my '22 Lightning for the '23 Mach E, I was tickled that they offered the MSRP price which is what I paid for plus I made $10,000 ($7500 federal credit refunded + $2500 state rebate).

Then the Mach E I ordered 14 months prior was honored with the original price plus $6500 PCO discounted as well as the low Ford APR.

Very happy with my deal.

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