Future Mach-E buyers, please note…

[Ghost Ryder]

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.

That’s because the mme has been out for 5 years yet. At the current rate its going to approach 70% depreciation.

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[stealthytolkien]

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.

Depreciation is one thing, but negligible demand only makes it worse, no?

 

[lucky13]

Take and run

I would like to, but I’m not going to write a 10K check to get rid of the Mach E.

 

[Tha_Ape]

Yes, you must certainly are allowed to do that. Little good can come from it though, particularly in this environment.

I think it's good to do 6mo-1yr before you get a new car.

I did that with a Prius Prime I had. Bought a 2017 with 13k mi on it for $24k in 2019.

Was toying with the idea of upgrading to a fun car. The 6yr old car had 45k mi on it and 0 issues. I kept checking
Carvana

11/22 = 18.8k
1/30/23 = 20.8k
2/8/23 = 21.4k
2/15/23 = 19.5k
2/22/23 = 19.3k
3/1/23 = 18.9k
5/8/23 = 24.2k (New car time‽)
5/14/23 = 24.3k (decided to sell)

Point here is it changes and some times drastically based on demand. I was overjoyed to sell that car for what I paid for it 4 years ago. There was inflation and I did maintenance etc, but it was still an offer I couldn't refuse despite my car having 0 issues.

I saw it on Carvana, they wanted 28. 6k for it. Not sure what it sold for

 

[Joel Morgan]

A sign of the lack of availability of cash by people generally in the UK?

 

[RickMachE]

Lots of great examples of how California is not representative of the rest of the country.

 

[DennisD]

That’s because the mme has been out for 5 years yet. At the current rate its going to approach 70% depreciation.

There is a bottom and I would guess that most of it has already occurred. Depreciation is the most after you drive it off the lot and it slows to a crawl after 2 years (in most cases).

Once again, it is way too soon to be complaining about depreciation IMO.

Just like Stocks, the only time you can actually do the Math to see gains/losses is the day you sell it. If one drives the car for 10 years the depreciation values in between are worthless.

So the good rule of thumb is to not sell low. The nice thing about a car (unlike Stocks) is that more times than not, you can keep it and sell when it wouldn't matter what car brand it was. After 10 years most cars are valued fairly the same across the board so you are really losing no more than a car that has not depreciated that much in 2 years. ?

 

[GreaseMonkey]

I think it's good to do 6mo-1yr before you get a new car.

I did that with a Prius Prime I had. Bought a 2017 with 13k mi on it for $24k in 2019.

Was toying with the idea of upgrading to a fun car. The 6yr old car had 45k mi on it and 0 issues. I kept checking
Carvana

11/22 = 18.8k
1/30/23 = 20.8k
2/8/23 = 21.4k
2/15/23 = 19.5k
2/22/23 = 19.3k
3/1/23 = 18.9k
5/8/23 = 24.2k (New car time‽)
5/14/23 = 24.3k (decided to sell)

Point here is it changes and some times drastically based on demand. I was overjoyed to sell that car for what I paid for it 4 years ago. There was inflation and I did maintenance etc, but it was still an offer I couldn't refuse despite my car having 0 issues.

I saw it on Carvana, they wanted 28. 6k for it. Not sure what it sold for

Very similar experience. 2016 Prius four touring in pristine condition and 32k miles. Checked trade in values on monthly basis through July 2022. It peaked at $25.5, but had dropped to 24.6 at CarMax when it was time to sell. Traded it in for the Ford dealer I bought the Mach-E from for $24k, which equates to $26.2 when factoring in the sales tax savings (~9.5% in Chicago). They listed for $28.5 and the car was gone in two weeks.

It was the cheapest car to own and operate. When driven on the highway, my wife would routinely get 62 mpg. I bought it for $27,850 before tax.

 

[RickMachE]

I've never found a trade-in offer to be reasonable, except during Cash for Clunkers, and when I had a 15 year old Ford Explorer with major issues, which I would have disclosed to any private buyer thereby negating any value.

When we bought a 2018 Fusion Energi, we sold our 2010 Fusion Hybrid. Dealer's offer was THOUSANDS below what I got private sale.

When we bought our 2021 Mach-E, we sold the Fusion Energi. Carvana beat dealer's trade-in offer by something like $5,000 as I recall (I'm sure it's in an old post here), and was way above private sale value.

When we bought our 2022 Mach-E, we sold our 2021 to a dealer in Illinois that paid thousands more than any other service, or what I would get in private sale. He ended up taking a small hit when he sold it, a few thousand.

In some states, you get credit for sales tax on a trade-in, in others a partial, in some none.

The reality is that car markets are regional. California is always representative of nothing else. The financial fairyland that residents live in with incomes magnitudes more than most of the country, and expenses in the same stratosphere, makes any comparisons simply impossible. And invalid.

Unless one lives in California, it's all irrelevant to us. Also irrelevant to me are people coming on any forum and always posting negative stuff, especially when they're no longer owners of the products that are the topic of the forum. Bye!

 

[TGIF]

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.

Does anyone think the Tesla SC system vs the relatively inadequate CCS infrastructure has a role in this?

 

[RickMachE]

Does anyone think the Tesla SC system vs the relatively inadequate CCS infrastructure has a role in this?

No.

The reality is that the vast majority of EV owners don't take trips with them.
Another reality is that the vast majority of EV buyers are clueless until they experience the issues.

 

[GreaseMonkey]

Does anyone think the Tesla SC system vs the relatively inadequate CCS infrastructure has a role in this?

Just think of how much more value your cell phone retains if it runs the last version of the operating system. Your hardware might not be the newest, but the functionality is similar (not identical, but close) to new. This is a structural problem with Mach-Es, given that software was written by a bunch of tier ones and twos.

 

[ChehRob]

Sib's 20 year old primo Accord was hit and major damage. I was going to sell sib my RAV4 when I got an EV, so I may be an MME owner earlier than I intended. I am hoping there is some work around on that sales tax thing.

 

[sgriffin130]

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.

I'm in my UPPER 70's and the MME doesn't frustrate me. I love it! Maybe your neighbors just need to get over that 75-years-old hump.

 

[OctopusWrangler]

I am half-heartedly trying to sell one of my MME GTPEs, out of curiosity I decided to refresh my offers. Here are the results for a 2022 MME GTPE with a little over 5600 miles, originally purchased in April 2022.

Carvana - $34000
Vroom - Won't make offer, not currently buying
Carmax - Won't make an offer without seeing it, no Carmax close enough to me to make it worthwhile right now
CarGurus -$45000

1 local dealer has 2 used for sale, 1 with 32000 miles for $47K and 1 with 11000 miles for $53K, so this certainly looks like dealers bottom feeding with low offers and reselling at more reasonable prices.
Local used car pricing has them anywhere from $46K to $54K depending on mileage per Cars.com. I know for sale pricing is not the same as sold pricing, but it certainly still looks strong to me.

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