Future Mach-E buyers, please note…

[stealthytolkien]

…that today, I was offered $23,000 for a car that cost me almost $51,000 cash about 5 months ago. It is a 2021 - Job 2 - Mach E GT Performance Edition - 10k miles - no deletions, super low miles, amazing condition inside out.

Plenty of threads about other quirks about the car, decent but not great MMI, slow “fast” charging speeds, HVBJB thermal issues, not great charging infrastructure, lack of skilled service centers. Not going to go into details.

And yet, we love the way the car drives. We love the power (I do not care one bit about the 5 second boost cap). We love how it looks. We love the attention from strangers coming up to us and asking questions about it.

Anyway, do what you want with this information. I wasn’t even trying to sell a car I haven’t even owned a year. It’s just an offer. But it was kind of shocking.

Cheers. Stay warm.

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[BigMach-E]

Yeah, but that’s one offer. I love my car, but I agree, the hit that I took on its perceived value after purchase is insane. All things being equal, how could this car have less value than a 5 year old, 60k mile ICE mini van?

 

[stealthytolkien]

Yeah, but that’s one offer. I love my car, but I agree, the hit that I took on its perceived value after purchase is insane. All things being equal, how could this car have less value than a 5 year old, 60k mile ICE mini van?

Ou completely agree with your “it’s just one offer” point. But once there is an offer, the algorithms adjust the bar accordingly across the board. The main issue is that there is little demand for used Mach E today from a third party seller. Private party sale is probably the best bet and even that’s going to be pretty bad because the overall demand for Mach E is super low.

Say, if I try to sell what I have for $42k. Taking a massive loss to a private party. They’re going to think, a similar used Tesla Model Y performance can be had for $48k. Better car across the board minus looks, which are subjective. Why even bother with a Ford?

It’s a doomed market for Ford in my opinion.

 

[alexgorod]

So, future Mach-E buyers, don't buy it to sell in 5 months.

 

[Vulnox]

I think a lot of that is buying when the used market was still higher. While not the peak, it was showing signs of continuing to drop.

At the same time, that feels like a "go away" offer. Not everyone wants to deal in reselling EVs still, which is good to know, but unless there are multiple equal offers I wouldn't take that as gospel. Given that used GT PEs are still asking $45-55k depending on year and mileage that I can see, I don't imagine getting at least $35k for one being out of line to a dealer that has more interest in selling BEVs.

 

[stealthytolkien]

So, future Mach-E buyers, don't buy it to sell in 5 months.

A for sarcasm.

I am not intending to sell the car. I was simply checking what’s up with resale values. Hope I am allowed to do that

However, I think, your 5 month ownership buy sell remark is questionable. The car isn’t 5 month old. I could have owned this car for 2 years and posted this. If I did, I’d have gotten 23k for a 70k car. No?

Don’t get me wrong, I know what you’re getting at. But a 51k certified used car losing 50% value so quickly is an indication of worse trends to come for resale values in general for Mach E. That was my point behind the post to show facts and let people derive their own conclusions.

 

[BigMach-E]

I think there is going to be another used price correction upwards in the not so near future, and as soon as NACS native is released, another downward trend. Good new though right now if you are in the market for a used GTPE I am sure you can find a steal.

 

[jpiazza67]

…that today, I was offered $23,000 for a car that cost me almost $51,000 about 5 months ago. It is a 2021 - Job 2 - Mach E GT Performance Edition - 10k miles - no deletions, super low miles, amazing condition inside out.

Plenty of threads about other quirks about the car, decent but not great MMI, slow “fast” charging speeds, HVBJB thermal issues, not great charging infrastructure, lack of skilled service centers. Not going to go into details.

And yet, we love the way the car drives. We love the power (I do not care one bit about the 5 second boost cap). We love how it looks. We love the attention from strangers coming up to us and asking questions about it.

Anyway, do what you want with this information. It’s just an offer. But it was kind of shocking.

Cheers. Stay warm.

A big Ford dealership in Charlotte is selling those right now in the 35-40k range, buyback program cars. Yours is still probably worth at least 40k since it wasn't a buyback.

 

[stealthytolkien]

A big Ford dealership in Charlotte is selling those right now in the 35-40k range, buyback program cars. Yours is still probably worth at least 40k since it wasn't a buyback.

And I would rest my case if it were just the plain GT (not the best value for money trim IMHO). But the performance edition does add some substantial benefits to the car. And the standard safety features offered on the MME beat Tesla. But we don’t want to piss off the Tesla lovers because they sniff these comments out from anywhere!

$46k and I’ll sell almost immediately even though I love the car dearly. We have one too many cars haha.

 

[Jimrpa]

During the pandemic, people made a lot “flipping” Mustang Mach Es. Now, we are seeing “offers” (does “offer” = “value”?) drop significantly. From what I’ve read in the press, the belief is that all EV “early adopters”, “enthusiasts”, and just people “who like shiny new things”, have moved to the EV market, and now the manufacturers have to tackle the “ma and pa kettles” who want something that just goes and is a functional equivalent of their Buick Park Avenue or Dodge Caravan, and make the cars more appealing to the beer-chugging, AK-47-toting “I’m not driving an EV until I can ‘roll coal’ past all the bicyclists”.
Remember, our cars are essentially Windows 3.11 of the EV market. We love them but we are also enthusiasts. My next door neighbors in their mid-70s are not. My car would frustrate them.

 

[RedStallion]

…that today, I was offered $23,000 for a car that cost me almost $51,000 about 5 months ago. It is a 2021 - Job 2 - Mach E GT Performance Edition - 10k miles - no deletions, super low miles, amazing condition inside out.

Isn't that pretty much in line with the residual value in Ford Options contract? If so why would anybody expect anything different.

 

[stealthytolkien]

During the pandemic, people made a lot “flipping” Mustang Mach Es. Now, we are seeing “offers” (does “offer” = “value”?) drop significantly. From what I’ve read in the press, the belief is that all EV “early adopters”, “enthusiasts”, and just people “who like shiny new things”, have moved to the EV market, and now the manufacturers have to tackle the “ma and pa kettles” who want something that just goes and is a functional equivalent of their Buick Park Avenue or Dodge Caravan, and make the cars more appealing to the beer-chugging, AK-47-toting “I’m not driving an EV until I can ‘roll coal’ past all the bicyclists”.
Remember, our cars are essentially Windows 3.11 of the EV market. We love them but we are also enthusiasts. My next door neighbors in their mid-70s are not. My car would frustrate them.

First of all. Great post and thanks for the laugh.

I am going to split the hair a bit while reinforcing your very valid points. I fully agree with you on all accounts except for one analogy. But it actually yields a more depressing outcome which I believe you were going for.

Our EVs are Windows 3.1 but of something that doesn’t exist today. The true next generation of EV is probably years away. When Windows 3.1 came out, nobody knew what XP (true generation defining release for Windows) would be like. But everybody knew that Windows 3.1 is MILES ahead of DOS!

Those coal rolling gas guzzlers you mentioned IMHO are DOS grade cars of today. An EV, aside from the inherent road trip limitations that it needs more time to fill up, blows many of that tier of cars out of the water for driving pleasure, power, technology, maintenance, novelty, day to day fuel cost savings, convenience of charging at home, etc.

But I do agree with you that even though we don’t know the future of EV, it still makes us early adopters because we can at least sense the trends. And that’s the depressing part. Many of the current gas owners have a very viable alternative to owning an early stage EV even though they know that the EVs around are likely far superior to gasoline cars. Why? Because they know if they wait a minute it’s gonna be twice as good! So they don’t want to touch something that’s going to evaporate so quickly.

 

[DevSecOps]

I just recently sold my 2 year old GTPE with 45k miles. Here's the offers I received:

Ford Dealership #1 – 27k
Ford Dealership #2 – 29k
CarMax – 23k
Carvana – 31k
Driveway – 32k

I ended up selling it to Driveway and cutting them a check for 20k to take it off my hands.

 

[stealthytolkien]

I just recently sold my 2 year old GTPE with 45k miles. Here's the offers I received:

Ford Dealership #1 – 27k
Ford Dealership #2 – 29k
CarMax – 23k
Carvana – 31k
Driveway – 32k

I ended up selling it to Driveway and cutting them a check for 20k to take it off my hands.

You paid them $20k to buy your car? Just kidding.

What did you pay for your 2021 GTPE (since you said two years old), if you don’t mind us asking?

 

[ctenidae]

Yeah, but that’s one offer. I love my car, but I agree, the hit that I took on its perceived value after purchase is insane. All things being equal, how could this car have less value than a 5 year old, 60k mile ICE mini van?

Everyone wants a minivan...

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