Higher used Mach-E prices are the "New Normal"

[AKgrampy]

When in Fall do you think that will happen? I am trading in 4X Premium (for a GTPE!) around September hopefully. I'm kind of counting on the value to be similar by then but timing this might get tricky.

Right now you can get the better of the options rate in effect when you ordered or when your car arrives. May still be that way when your car arrives.

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[SWO]

Why is that nonsense?
In my driving style on my awd ext battery mach E I see 200miles range in winter and 270-300 in summer. So the 65% of range in winter does seem right.

Not to derail the thread, but all they did was look at the guess-o-meter reported range at full charge. They said Teslas have ~no range degradation in winter (because Tesla's guess-o-meter doesn't take temperature into account) which is nonsense to anyone who has actually owned an EV.

 

[RickMachE]

Right now you can get the better of the options rate in effect when you ordered or when your car arrives. May still be that way when your car arrives.

Always that way.

 

[Major]

I would walk away from any deal over MSRP. If everyone would do this then they would quit trying to do it. They are charging Markups only because people are willing to pay it. A item is only worth what someone is willing to pay for it.

Absolutely true, however, many homes are going over the listed price now. The old supply/demand issue.

 

[Major]

Carvana paid me 6500 bucks more for my GT with 8000 miles on it and 3 months old. I’m getting ready to sell my 21 premium 12 K Miles since it has been buggy for about five grand more than I paid for it. I have another GT and another premium on order hopefully bug free 2022s LOLOLOL. The GT bricked me three times and was eligible for lemon law but I wasn’t giving it back to the dealer when I could make the money on it. Made him get it back to spec and it took 68 days sold it two days later

Jes sayin. Yes I guess I am an evil dealer type conniving dip shit

So, is Carvanna a good option for me? I have a First Edition (that I love) but have a new Grand Touring Lucid coming in a few weeks and will be selling my First Edition.

 

[ripperAZ]

So, is Carvanna a good option for me? I have a First Edition (that I love) but have a new Grand Touring Lucid coming in a few weeks and will be selling my First Edition.

Carvana is quick and easy probably won’t give you the highest price I could’ve use the auto trader and local sources and gotten a couple grand more for my GT and perhaps even for the premium but they make the process extremely simple they pick the car up they hand you the check.
I bet you could get more from an enthusiast locally but you’re gonna have to deal with the somewhat Unsafe nature of showing the car test driving and transferring the funds and such

I felt I made a little money and took care of my problems and got out clean

 

[RickMachE]

So, is Carvanna a good option for me? I have a First Edition (that I love) but have a new Grand Touring Lucid coming in a few weeks and will be selling my First Edition.

Carvana.

Why don't you go find out? That's the only way you know how you are going to get the most for your car.

There are many ways to sell your car. Dealer, Carvana, CarMax, Vroom, and of course yourself - Craigslist, AutoTrader, etc. The only way you'll know how you'll make the most money is by trying every one of them.

We sold our 2018 Fusion Energi to Carvana after failing to sell it privately, likely because the category - sedan, plug-in EV - didn't exist on AutoTrader, and thanks to the discontinuation of the model by Ford no one knows it exists. We got amazing money at the time, beating the next closest service by close to $1,000, and the one after that by more than $5,000. Dealership was over $7,000 less.

CarMax by us is 130 miles each way. Sure, I'm going to drive it there to ask them to give me a price. Carvana came to the house, after giving us a price online (note, they seem to require a phone call on the Mach-E, haven't yet seen if that means an onsite appraisal or not).

Selling privately requires the Seller to be smart (or not be an idiot). First, in value determination. But more importantly, in safety both of your person as well as ensuring you get paid.

I have sold many vehicles via Craigslist. For the test drive, the Buyer has to a) show me their driver's license (which I take a photo of) as well as proof of insurance, b) leave their personal vehicle there (which my wife watches) and c) take me on the test drive - I drive first, then switch.
On a private sale, when it comes time for payment we meet at the agreed upon bank, and they withdraw funds in front of me with the teller cutting a bank cashier's check right in front of my eyes and handing it to me. Then I sign over the title and hand over the keys.

 

[blkadr08]

I would walk away from any deal over MSRP. If everyone would do this then they would quit trying to do it. They are charging Markups only because people are willing to pay it. A item is only worth what someone is willing to pay for it.

No, they are charging more than the manufacturer SUGGESTS they sell the car for because supply and demand has made the car more valuable than the suggested price. MSRP has only a passing relationship with the actual value of the car.

Put yourself in the dealers place: If you have a car in stock that nine out of ten customers are anxious to pay $69,000 for, why in the world would you sell it to the 1 customer only willing to pay $59000, just because the manufacturer “suggested” you sell it for that?

Having said that, any manufacturer or dealer who accept an order based on an agreed upon purchase price (MSRP, or some other price) and then tries to change the deal when the car arrives, should be penalized or sued.

Those ordering MME’s expecting to buy the car at a certain price should make sure you have a written commitment to the deal at time of ordering.

Just sayin’.

 

[MailGuy]

Even if you made money, when a casual seller sells an asset the gain is not taxable income. It wouldn’t be reported to the IRS. The $7500 was a tax credit, not income.

Uh, actually in some cases it is. I just sold my house. I will be getting a 1099-S reporting a tidy sum that I will be paying capital gains to the feds on because it’s net income over what I’ve paid and am allowed as a one-time exemption. I’m trying like heck to make certain the state I’m moving to isn’t getting their claws on it too.

 

[4sallypat]

I wouldn't mind paying a higher price to Ford, but no way I'm paying a markup to a sleazy dealership. Ford needs to solve their dealership problem or risk losing sales to the competitors that don't force their customers to deal with those people. It's not just money, the experience also matters.

Agree - MSRP is fair but ever since the pandemic, new car prices have seen a significant ADM.

I can't find an ICE vehicle for my business and my wife looking at Mach E is not happy with $20K over MSRP quotes.

I just filed a complaint to my state's AG for an investigation as this may constitute price gouging which CA does not allow during the pandemic.

 

[RickMachE]

Even if you made money, when a casual seller sells an asset the gain is not taxable income. It wouldn’t be reported to the IRS. The $7500 was a tax credit, not income.

Let's clarify this.

First, the tax credit has nothing to do with selling the car. Never comes into the picture, unless you decide to make a fake P&L to determine if you made or lost money.

Second, if you buy an asset and then sell it for a profit, you will pay tax on that gain. If you sell it for a loss, that's your problem. https://www.cargurus.com/Cars/articles/how_do_taxes_work_on_private_car_sales

 

[Triggerhappy007]

When I sold my Leaf, I tried a whole bunch of companies that buys cars. It ranged from a pathetic $18k from Vroom to $33k from Carvana. Carmax was $30k, Driveway was $32k. It takes less than 5 minutes at each site. Newer cars may need a manual appraisal.

 

[kennethjk]

Even if you made money, when a casual seller sells an asset the gain is not taxable income. It wouldn’t be reported to the IRS. The $7500 was a tax credit, not income.

Not sure that is correct. from the instructions for IRS form 8936. I did not check IRS code but will leave that to others.

“Basis Reduction
Unless you elect not to claim the credit, you may have to reduce the basis of each vehicle by the sum of the amounts entered on lines 11 and 18 for that vehicle.”

casual sales are generally not subject to sales tax- income tax is a different matter

from IRS website
Personal-use property.

Generally, property held for personal use is a capital asset. Gain from a sale or exchange of that property is a capital gain. Loss from the sale or exchange of that property is not deductible. You can deduct a loss relating to personal-use property only if it results from a casualty or theft.

 

[ripperAZ]

Carvana.

Why don't you go find out? That's the only way you know how you are going to get the most for your car.

There are many ways to sell your car. Dealer, Carvana, CarMax, Vroom, and of course yourself - Craigslist, AutoTrader, etc. The only way you'll know how you'll make the most money is by trying every one of them.

We sold our 2018 Fusion Energi to Carvana after failing to sell it privately, likely because the category - sedan, plug-in EV - didn't exist on AutoTrader, and thanks to the discontinuation of the model by Ford no one knows it exists. We got amazing money at the time, beating the next closest service by close to $1,000, and the one after that by more than $5,000. Dealership was over $7,000 less.

CarMax by us is 130 miles each way. Sure, I'm going to drive it there to ask them to give me a price. Carvana came to the house, after giving us a price online (note, they seem to require a phone call on the Mach-E, haven't yet seen if that means an onsite appraisal or not).

Selling privately requires the Seller to be smart (or not be an idiot). First, in value determination. But more importantly, in safety both of your person as well as ensuring you get paid.

I have sold many vehicles via Craigslist. For the test drive, the Buyer has to a) show me their driver's license (which I take a photo of) as well as proof of insurance, b) leave their personal vehicle there (which my wife watches) and c) take me on the test drive - I drive first, then switch.
On a private sale, when it comes time for payment we meet at the agreed upon bank, and they withdraw funds in front of me with the teller cutting a bank cashier's check right in front of my eyes and handing it to me. Then I sign over the title and hand over the keys.

The guys at Carvana are kind of geniuses they gave me 6500 bucks more for my GT last year when there was hardly any MME’s on the road.

Then they put it in their vending machine and got 7 grand more than that for it. I was watching our local channel three TV morning show and it was featured in the vending machine my car…. and I watch the price go up

Before buying and ordering my 2 MME’s I bought six cars from Carvana. They were all in fantastic shape I got good deals in the process was completely easy took five minutes on my phone

I really like their business model. It makes life easy and it removes the gamy dealers

 

[JeanneB]

No, they are charging more than the manufacturer SUGGESTS they sell the car for because supply and demand has made the car more valuable than the suggested price. MSRP has only a passing relationship with the actual value of the car.

Put yourself in the dealers place: If you have a car in stock that nine out of ten customers are anxious to pay $69,000 for, why in the world would you sell it to the 1 customer only willing to pay $59000, just because the manufacturer “suggested” you sell it for that?

Having said that, any manufacturer or dealer who accept an order based on an agreed upon purchase price (MSRP, or some other price) and then tries to change the deal when the car arrives, should be penalized or sued.

Those ordering MME’s expecting to buy the car at a certain price should make sure you have a written commitment to the deal at time of ordering.

Just sayin’.

I agree 100%. Dealers are getting very few cars for stock now. Most vehicles are customer factory orders. So if they get a car that's in high demand, there are people willing to pay more to not have to wait 6-8 months or longer to get a vehicle. Most dealers are selling 30-40% less vehicles now too because of the shortages. So I would assume that makes up for some of the money they're losing by selling less units. But if you factory order a car, the price should be what you agreed upon at time of order.

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