If you have a Mach E and feel screwed by the price slash, call Ford, or don't. LOL

[Mach1E]

Again, this is just my opinion so take it for what it is worth. There is a world of difference between having a big inventory of '23 model anything in Oct-Dec of 2023, it is a whole new ball game to have almost a year's worth of '23 inventory when you are 2 months into the first quarter of '24 and you are already producing the 24's. In my opinion, anyone who did not see this coming is either not paying attention or just doesn't have a good grasp of marketing 101. Again just my opinion and I stand by it.

Yes, price drops on leftover last years models are SOP.

Just not this drastic when they already had pretty big discounts (you could get $9k or so off a GT already months ago).

This is a bit unprecedented. Not exactly 101.

But if you (and everyone) saw this coming and it was so obvious….. a heads up would have been nice!

And just to be clear, I see $70k GTPE advertised for $47k.

I doubt you predicted that kinda drop.

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[AlMelbourneFL]

Ford already did a goodwill payment for people that purchased right before the first big price drop. I was one of those people that got a goodwill payment and honestly I was very impressed by ford for doing that and not something I ever expected. Did you get one of those? If not you already benefited from the first price cut.

I totally get the other price drops are frustrating but remember the MachE no longer qualifies for the credit and it did last year. Some of this the price of being an early adopter, some is the weird financial bubble we’ve been in post-COVID, and some is just bad luck.

 

[AlMelbourneFL]

Ford already did a goodwill payment for people that purchased right before the first big price drop. I was one of those people that got a goodwill payment and honestly I was very impressed by ford for doing that and not something I ever expected. Did you get one of those? If not you already benefited from the first price cut.

I totally get the other price drops are frustrating but remember the MachE no longer qualifies for the credit and it did last year. Some of this the price of being an early adopter, some is the weird financial bubble we’ve been in post-COVID, and some is just bad luck.

How did you get the payment? Did Ford contact you? I signed for mine 6 days before the price change So a goodwill gesture would be appreciated.

Thanks.

 

[nvabill]

And just to be clear, I see $70k GTPE advertised for $47k.

I doubt you predicted that kinda drop.

Agreed and that's gonna make a new owner really happy!

 

[electric-in-the-desert]

How did you get the payment? Did Ford contact you? I signed for mine 6 days before the price change So a goodwill gesture would be appreciated.

Thanks.

I got this email from Ford last march. This linked to a form I submitted with my address and VIN and then they sent me a check in the mail + the FordPass points appeared online.

 

[DaveP]

So far, it doesn't seem like values have fallen below the balloon payment amount. At least, not for me.

Bases covered. I mainly did it because I feel the technology will change drastically in next few years.

 

[nvabill]

Yes, price drops on leftover last years models are SOP.

Just not this drastic when they already had pretty big discounts (you could get $9k or so off a GT already months ago).

This is a bit unprecedented. Not exactly 101.

But if you (and everyone) saw this coming and it was so obvious….. a heads up would have been nice!

And just to be clear, I see $70k GTPE advertised for $47k.

I doubt you predicted that kinda drop.

I did not check your post close enough, not showing this discount on dealer sight.

https://www.newsouthford.net/new-inventory/index.htm?model=Mustang Mach-E

 

[Mach1E]

I did not check your post close enough, not showing this discount on dealer sight.

https://www.newsouthford.net/new-inventory/index.htm?model=Mustang Mach-E

When I did a search, there were quite a few around $47k. It’s possible the prices are messed up, but different dealers.

If someone CAN get that price they should jump on it though.

 

[nvabill]

When I did a search, there were quite a few around $47k. It’s possible the prices are messed up, but different dealers.

If someone CAN get that price they should jump on it though.

Absolutely, great price if available!

 

[naekk]

If only we could rely on what dealers say.

True.

 

[Guss-E 2021]

We have a 2023 so not sure what your point on buying a 2023 is? I guess you and I see things differently. If I wanted depreciation like that, I would have bought a luxury vehicle. I doubt anyone buys an F-150 or any Ford for that matter and is good with the thought that in 1 year it will be worth 1/2 of its new price with just a few thousand miles on it. But each to their own. I am unaware of any other Ford that tanked like this, if there is one, please enlighten me.

Cars are not investments anymore than a lawnmower is. They are depreciable assets, tools to be used up while providing a service or quality of life improvement. When my retirement accounts start dropping by 20-30% in two years, then I'll start freaking out.

Right now my only focus is paying my car off as soon as possible to avoid the additional interest expense. Depreciation is a non-cash expense just like amortization. Interest most certainly is a cash expense. One I'm highly allergic to

 

[Mach1E]

Cars are not investments anymore than a lawnmower is. They are depreciable assets, tools to be used up while providing a service or quality of life improvement. When my retirement accounts start dropping by 20-30% in two years, then I'll start freaking out.

Right now my only focus is paying my car off as soon as possible to avoid the additional interest expense. Depreciation is a non-cash expense just like amortization. Interest most certainly is a cash expense. One I'm highly allergic to

Yes, cars are expenses, not investments.

But the lower the depreciation, the higher the expense.

Not sure why some don’t seem to care how much the cost of ownership of this car is.

 

[Guss-E 2021]

Yes, cars are expenses, not investments.

But the lower the depreciation, the higher the expense.

Not sure why some don’t seem to care how much the cost of ownership of this car is.

I did not mean to come off as flippant or apathetic. It completely sucks to be $20K underwater on a loan. But there is nothing I can do about that. The only thing I can do is staunch the bleeding by reducing the interest expense on my financing. I made the decision in June 2021 to buy my Mach-E for the price I paid. I made that decision based on the vehicle I wanted and what I could afford. Not based on what I expected the future value of the car to be.

And depreciation doesn't affect your cost of ownership. If you pay X dollars for something and it never looses value, it still cost you X dollars. The cash out of your pocket did not suddenly increase because the value dropped. Also, I think you meant to say the higher the depreciations, the higher the expense which really only applies to a business' fixed assets. Depreciation is used to limit tax liability with the idea that the money saved will be available to fund future CAPEX. This is why depreciation gets added back to cash flow when determining debt service coverage. But I digress

 

[NerdUno]

Car manufacturers are at the mercy of the marketplace. When Tesla and Hyundai cut the prices of their vehicles, Ford didn't have a lot of options. Either they have to cut prices to reduce inventory, or they get to live with 2023 vehicles for the entire 2024 calendar year. I'm glad they chose the first option. Having had two Teslas, I'd never buy another one. And I love my new Mach-E.

 

[Mach1E]

I did not mean to come off as flippant or apathetic. It completely sucks to be $20K underwater on a loan. But there is nothing I can do about that. The only thing I can do is staunch the bleeding by reducing the interest expense on my financing. I made the decision in June 2021 to buy my Mach-E for the price I paid. I made that decision based on the vehicle I wanted and what I could afford. Not based on what I expected the future value of the car to be.

And depreciation doesn't affect your cost of ownership. If you pay X dollars for something and it never looses value, it still cost you X dollars. The cash out of your pocket did not suddenly increase because the value dropped. Also, I think you meant to say the higher the depreciations, the higher the expense which really only applies to a business' fixed assets. Depreciation is used to limit tax liability with the idea that the money saved will be available to fund future CAPEX. This is why depreciation gets added back to cash flow when determining debt service coverage. But I digress

Yes, you are correct. Meant to say “higher or more depreciation” or the more the price drops, but you got what I was getting at.

The cash out of your pocket does increase when you eventually sell the car. So the depreciation absolutely affects cost of ownership. Purchase price plus expenses minus selling price = cost of ownership.

What you said about depreciation only applies if you are using the Mach E for a business vehicle. Most here are not.

Since you corrected me, it’s only fair to let you know it’s “loses value,” not “looses value.”

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