Future Mach-E buyers, please note…

[DevSecOps]

I'm still amazed that people are surprised by this - these are the normal depreciation rates for used cars

That's not at all true. Tesla has a 50% depreciation rate at 5 years. The MachE is at 40% in 2 years and as another person posted 50% at less than 1 year.

The MachE doesn't even make the list: https://www.iseecars.com/resale-value/electric-cars

Sponsored

 

[Jrny127]

…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.

They just hate the MME! Old Tesla’s sell for more than what they cost originally! I don’t get it! I love my 2022 MME Premium! I LOVE IT! I don’t want to sell! But to have someone give you such a lowball offer Hurts! This is my first all electric car but my 5th brand new Ford and I have loved every single one of them. And I love this EV as much, if not more, than all my other Fords! I will definitely purchase another!!!!!!

 

[Jrny127]

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.

I disagree! Why would EV’s be a “doomed market for Ford” and no one else?????

 

[Strykerwsu]

I bought my stealth wrapped GTP with 18k for $36k 3 weeks ago but was a Lemon due to HVJB So I guess I overpaid lol.

i feel new buyer pain for sure. Got lucky and bought Bronco instead in 21. This is around town cheap EV mileage vehicle for us

 

[Tragic Apology]

I'm sorry but I have no complaints currently, I sold my last car for almost $10,000k more during COVID than I could today, a year later, I have a 2.49% interest rate which is less than I've received in the last two work COL increases I have had since I bought the car, plus a $7,500 tax credit.

$50K sticker, paid MSRP, just did got a Carvana offer for $39,000.

I'm ahead right now, granted, I hit a perfect storm of getting MSRP, selling my last car at the height of the market, being eligible for the full tax credit and a low interest rate, but I suspect a lot of us hit the perfect on the good side and the bad side and the people that hit the good side are going to push the values down for people that hit on the bad side again.

 

[Jrny127]

Vs. Tesla I meant. Other EVs, except for maybe a couple, aren’t even worth discussing. They are nothing but a check the box deliverable for that car company (Solterra like cars). So you’re correct. If Ford is not doing well, others will not even make a noise before they go. Ford MME had a great potential at least for this price segment of EVs.

They’re likely doomed because:

1. Tesla ownership is low hassle. Cost of entry is much lower. Service centers are far better than Ford’s. Charging infrastructure is far superior to Ford (until they merge seamlessly - but that’s not here yet). Thermal issues are sorted out for the most part. MMI is miles ahead of any other EV, let alone Ford’s. Ford MMI feels like it’s running on Pentium I processor.

2. Tesla’s resale value is also going down, but it’s not nearly as bad as Ford’s. Why? Tesla has a lot of demand to begin with. I won’t hesitate one bit to buy a Tesla from a third party, if everything checks out, and if I can save some money. Tesla themselves sell certified used cars for great prices. Ford is overpriced from the get go AND the demand is super low. And they cannot possibly compete because they’ve put in 0 effort to drive up the demand. How do you drive the demand up? Sell more cars so they are seen every freaking where. That can only be achieved by taking massive losses for the first 5 years especially when you’re competing against a solid incumbent player. If Tesla could do it, why can’t a 100 year old company?

3. Ford has significant design issues with their cars, especially in the thermal department. They have finally issued a recall (reluctantly). A car company doesn’t issue recalls willy nilly. So even those who don’t want to buy a Tesla and love Ford would probably prefer to wait 2-3 years before the next generation comes out with issues sorted out. Tesla isn’t going to sit quietly. It continues to make things more difficult each day. And dominate the market. Their Model 3 refresh is coming in 2024. I am sure Model Y will follow suit in 2026 with a major refresh. There’s nothing major that Ford does today that Tesla does not already (except one factual feature absence - rear cross traffic alert because Tesla got rid of sensors, but given how much better it is in other departments, most buyers don’t seem to care. And maybe no Apple care but even that hasn’t slowed down their sales). Model Y is also a very spacious car. Ford is a compact SUV so there’s another thing Tesla might be favored for if people are shopping for a family SUV. Mach E looks great in my subjective opinion. But that’s where it ends, really. The rest of the comparison seems to favor Tesla.

I would LOVE to be proven wrong with time. I would LOVE to see Mach E everywhere because competition is great for current owners and future owners. I’d love to see the super charging merger go through quickly. But it feels like we want it to succeed more so than Ford!

I don’t even know how to respond to this word salad! Just because it’s an EV shouldn’t make it any different to any other cars produced! An EV is a car just like a diesel car or a hybrid, or a dual fuel car!!!

People just want this car to fail, for whatever reason. They just do. Hyundai and Kia come out with a new EV every day and we don’t hear anything negative about them.

 

[Mach1E]

So much doom and gloom.

Just like the overly high priced market of the last few years, I think this overcorrection will also pass.

The car market (like the housing market) is highly sensitive to interest rates since so many people finance.

As interest rates drop over the next couple years, the car market will stabilize. And as new car prices increase, the used market won’t take as much of a hit.

We have a double whammy right now for used cars- high interest rates and killer deals on new cars.

But this is a temporary thing.

 

[RedStallion]

I really feel like the situation is “you buy a MME, you keep it”.

It's been the situation with every car I bought. Buy it, drive for 100k miles, and trade it. At that point any car is worth about 15%. I don't get it why people change cars that often, it's just throwing away money for no good reason.

 

[stealthytolkien]

I don’t even know how to respond to this word salad! Just because it’s an EV shouldn’t make it any different to any other cars produced! An EV is a car just like a diesel car or a hybrid, or a dual fuel car!!!

People just want this car to fail, for whatever reason. They just do. Hyundai and Kia come out with a new EV every day and we don’t hear anything negative about them.

Thank you for the kind words. I replied to you in detail to show respect to your remark earlier. Apologies for sending so many words your way.

Your response about Hyundai and Kia and how nobody aren’t talking negatively about them (?!!) and how EV car is the same as a gas car (??!!) etc…not sure I understand how that’s relevant. But anyway, I never claimed to be smart

Cheers!

 

[RedStallion]

That's not at all true. Tesla has a 50% depreciation rate at 5 years. The MachE is at 40% in 2 years and as another person posted 50% at less than 1 year.

The MachE doesn't even make the list: https://www.iseecars.com/resale-value/electric-cars

It's there, among SUVs: https://www.iseecars.com/resale-value/electric-small-suvs

 

[DevSecOps]

It's there, among SUVs: https://www.iseecars.com/resale-value/electric-small-suvs

I didn't see that but it's still at 40%. That's well under most other EVs and 11 points under the M3.

 

[ArthurDOB]

Who in the heck has $51,000 cash?

 

[billy_at]

I'm still amazed that people are surprised by this - these are the normal depreciation rates for used cars, and there is going to be a temporary decrease in offered trade in amounts because interest rates are higher and people may have fewer options.

I'll also point out the economics basics that the value of something isn't what someone offers, it is what the market clears at. If someone offers me less than what the value is to me, I don't sell, because, by definition, the "value" is higher than the offer. So watching trade-in offers to try to assess value is always going to give you a lower number - you should only be looking at completed sales.

I do intend to keep my MachE, but on the Ford Options loan, I have an opportunity next year to give it back instead of paying my balloon payment. Will watch and see what things look like at that time.

100% agree re an "offer" vs actual value.

 

[Guss-E 2021]

Whether or not to buy a BEV and at what price depends just as much on one's unique circumstances as buying an ICEV does. But with BEVs there is more of a FOMO (right now) vs waiting for the next best thing. There are so many battery electric related developments and new products coming down the pipe in even just the next 12 months. I don't envy new buyers.

I ordered my 2022 in June 2021. I knew I did not want to get stuck with gasoline for another 4 - 10 years (I drive my cars into the ground). So here I am driving a MME. No regrets. I'm not suffering daily from any of the shortcomings. Would I rather not be under water on my car loan? Of course. Who wouldn't. But I remind myself that my car is not an investment. It is a tool. A tool that justifies its purchase by reliably and enjoyably getting me to the job that pays for it and everything else in my life. Transports me to family, food and fun keeping me dry, warm or cool while doing so. You know, what a car is meant to do. That's all the value I need from it.

 

[available_username2]

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.

Better car across the board? So you're just a troll

Sponsored