Keep it or get out now

[AwesomeJay]

Hello,

I bought my 2023 Mach-e premium AWD extended at the end of November. My intention was to keep it for 4 years max and use it for solid trade in value. Clearly the trade in value for used EV's has fallen big time. I'm paying monthly for it still. I'm curious if I should take the L now and trade it in (assuming the trade in value is the highest it will ever get) and roll the negative equity into a new ICE or keep the MME for the next 3.5 yrs and use it for whatever trade in value its worth then?

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[redgrandam]

That doesn’t make any sense to me to trade it in this soon. Unless you could sell it privately and get back what you paid for it or something.

All used car prices have dropped. It’s not just an EV thing. But they will fluctuate.

A car always depreciates. It is almost never an investment. I say just enjoy the car!

 

[azerik]

Keep it. It'll pay you back more than you realize when you don't get stabbed at the gas pump. At least that's how it is around here. Dumping for the idea of saving yourself more loss down the road doesn't pay out. What you'll save in gas will help offset that perceived value loss. Unless you really need the money for something productive like heroin or art.

 

[devmach-e]

All cars depreciate. There's no escaping that. Keep it and drive it if it fits your lifestyle.

 

[Womps]

Find out what they will give you on a trade and then make the decision.

 

[Jeff-NoVA]

Wait until gas prices head up again. It'll happen, and the EV market will recover some

 

[AliRafiee]

How much will you owe at the end of the 4 years? Most of the depreciation has already happened.

 

[jay1122]

Any other reason other than trade in value? Such as EV not working well in winter cold temperature up in canada. Or there is a specific ICE car you really want. If it is only about price. It is never worth it to trade in early.

 

[AwesomeJay]

How much will you owe at the end of the 4 years? Most of the depreciation has already happened.

I would own it fully at the end of the 4 years

 

[AwesomeJay]

Any other reason other than trade in value? Such as EV not working well in winter cold temperature up in canada. Or there is a specific ICE car you really want. If it is only about price. It is never worth it to trade in early.

There are a few minor minor annoyances with owning an EV during the winter here in Canada, for example having to go outside when its freezing cold and blowing snow to plug in the car to charge lol. I would like to get back into an ICE with a manual transmission also.

 

[Snakebitten]

I don't feel any economic pain from the resale value of a product being whatsoever it is if I'm still using the product.
In fact, if I'm enjoying the product I am getting exactly what I desired when I acquired it.
It's all good.

A value equation is far more sophisticated than the just the current market value.

 

[the golden eel]

There are a few minor minor annoyances with owning an EV during the winter here in Canada, for example having to go outside when its freezing cold and blowing snow to plug in the car to charge lol. I would like to get back into an ICE with a manual transmission also.

Maybe you should at least try owning it in the summer. Then you can see if the benefits and fun of it in nice weather outweigh your minor winter annoyances.

From a strictly financial point of view I'd think you'd lose your shirt if you traded it in after 4-5 months of ownership.

 

[leehinde]

The longer you keep it the less this resale decline will matter.

 

[redgrandam]

There are a few minor minor annoyances with owning an EV during the winter here in Canada, for example having to go outside when its freezing cold and blowing snow to plug in the car to charge lol. I would like to get back into an ICE with a manual transmission also.

Why do you go outside in snow storms specifically to plug the car in? Just plug it in when you get home with it. Unplug it when you leave. Never need a special trip. And it’s very easy.

It’s also way better than standing outside at a gas pump in a snow storm in the cold for 10 mins filling up your car.

 

[Socalsp3]

Why take the ev depreciation hit and pay for gas again. It's the worst of both worlds

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