Future Mach-E buyers, please note…

[hepidy]

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.

Yeah but at least we aren’t the beta max…..if any consolation….i also came from a 2020 Mustang GT 5.0 manual so yeah I love Mustangs in all their forms.

Sponsored

 

[azerik]

And yet, I still can't touch a GTPE within 350 miles for less than $53k (with nearly no options and 10k+ on the clock).

In LA I found a couple listed mid 40's for every box I need ticked. But Buying out of state won't happen for me unless it's a private sale.

 

[stealthytolkien]

True, but are they actually selling them? A used MachE takes, on average, 75.8 days to sell and is the 3rd worst selling vehicle (including ICE) in the US. I also believe that the people taking the hardest hit on resale values are those who purchased GTs. It seems like the GT lines with an MSRP much higher are reselling at close the the same price as non-GT variants.

Precisely my point that if the demand were healthy for MME, people would just buy it off each other and dealers would also jump on them to make small profit but based on large volume. If 2 people want one every six months, the resale price offered would would be bad. Shocked but not surprised. It should also be noted that despite tax benefits it has been extremely difficult to get any interest on this MME through private party. I sold my Model 3 within 5 hours of listing it.

 

[Keith in KC]

I would snatch up one of those used Mach Es if I were in the market for a car. That said, I can't get too upset by the current resale value since I was overpaid by about $4k on my trade-in in the post-covid used car market and I took advantage of the $7,500 tax credit.

 

[Jimrpa]

I

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.

Come on - at least I gave Ford credit for making it all the way to Windows 3.11 (Windows 3.1 was a bit of a cluster).
Realistically, I think there are large parts of the remaining market that will go for hybrid for the time being. A buddy of mine, who is an engineer, very technically savvy, and likes the latest things, just bought a Hyundai hybrid because of “charging anxiety” (my term).

 

[ryano7700]

Yes I did. I still owed on 50k on it. So I cut them a check to buy my car.

I originally paid MSRP which was like $69.9 or something close to that.

I want to sell badly but I’m way too tight. I will own this car until I don’t lose so much. So I will have for, at least, 10 years which is very depressing. I like it but not that much.

 

[Ghost Ryder]

And yet, I still can't touch a GTPE within 350 miles for less than $53k (with nearly no options and 10k+ on the clock).

In LA I found a couple listed mid 40's for every box I need ticked. But Buying out of state won't happen for me unless it's a private sale.

Why won't you buy out of state? I lived in CA, and bought a car in Texas and another in Arizona. Super easy transaction. Flew in and drove out. Probably faster than buying at a dealership in CA. Registration just involved getting it checked at the DMV. Easy. Saved a lot too.

 

[Ghost Ryder]

Precisely my point that if the demand were healthy for MME, people would just buy it off each other and dealers would also jump on them to make small profit but based on large volume. If 2 people want one every six months, the resale price offered would would be bad. Shocked but not surprised. It should also be noted that despite tax benefits it has been extremely difficult to get any interest on this MME through private party. I sold my Model 3 within 5 hours of listing it.

Say what you want about Tesla, but they're still the gold standard. Proof that people really don't care about panel gaps or the CEO.

 

[stealthytolkien]

Say what you want about Tesla, but they're still the gold standard. Proof that people really don't care about panel gaps or the CEO.

It is the very fact that they are (considered) the gold standard is why we have threads like this

Do they still have build issues? Yes. Super low percentage wise but nowhere near top notch build quality

Is the CEO a bit eccentric? Yes.

Does the car lack basic safety features? Yes.

Do they lie about the range? Yes.

Does it ride harsh? Yes.

And yet, I just saw 6-7 go by a cafe parking lot as I sat here with my coffee writing this post. Just 1 MME, mine. I got the attention. But they have the gold standard lol.

 

[BigMach-E]

Oh yeah, being underwater so quickly and by so much hurts. However, I knew it was likely, but not by so much. Will it impact me buying another Ford, another EV or another car in the next 5 years? Yep. I know why the MME resale value tanked, but the levels are just dumb.

 

[Gloff]

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.

Two things:

1. If you're not intending to sell the car, then the current value is irrelevant.
2. That value is significantly low, the average market price of a standard GT with 15k miles is $43,500. Maybe your market is different, but here in the SF Bay area, 23k would be significantly lower than the average appraisal.

If you're enjoying the car, stop worrying about it's future value and use it. When you're done with it, then worry about what it's worth.

In case you're curious, a Model Y Performance under the same parameters is AMV of $45,600. They're worth effectively the same. Unlike the Tesla, the GT Performance Package doesn't book out, so the real value is likely well in-line with what the Tesla is worth.

 

[Metasystech]

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.

I recently got a 22 GTPE for 41k from there with 7k miles. I am very happy with it.

 

[waldo1949]

…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.

Seems to me that if you paid 51000 for a two year old Mach e that you were taken for a ride.

 

[stealthytolkien]

Seems to me that if you paid 51000 for a two year old Mach e that you were taken for a ride.

Possibly but while I value every dollar, these amounts are not really that big that I would ponder on, especially knowing the resale value, this one is going to be driven until it falls apart so it doesn’t make a huge difference to me anyway.

But I would be curious if you can show me a dealer sold - Ford gold certified with 2 extra years of warranty and full service coverage -on top of the original remaining 1.5 year warranty - job 2 - 2021 Mach E GT Performance - no deletions - 7k miles for “out the door” cash price of $46k today. I am not even saying $51k, given it’s been 5 months since I bought it, so let’s say a grand less each month given how bad the market has crashed lately.

And then I’ll agree with your assessment!

 

[Regularmache]

Most new vehicles drop in value fastest at year one, then the curve starts to flatten from 3-5 years.

Just to give us some perspective, I e attached the fastest depreciation of EV as of July 23 by ISEE cars. Luxury HEVs and ICE are even worse. Their attached as well.

We're on our Second Mach E and did Options to alleviate any anxiety at 3 year point. My Brother in law has two models 3s, a Model X and when he drove our GTPE he and his wife said they're buying one when the 3 lease is up. They like their Tesla's, but we're really impressed with the MachE. They like us have solar panels and we produce our own electricity that charges our cars. They do have a 21 Escalade for longer trips but the depreciation on the new Escalade was huge years 1-5.

Sponsored