Mach E totaled....what do I get instead?

[GreaseMonkey]

I heard from a buddy that GM is giving some incredible discounts on the Silverado EV right now. He said he leased one with an MSRP of $95,000 for only $15,000 down and $500 a month.

Since it's a lease, Chevy must be claiming and apparently passing on the $7,500 tax credit, but still, my Mach-E was $15,000 down with $450 a month with an MSRP of $51,500 (not counting $7,500 federal tax credit) for four years.

If trucks are your jam, I would strongly consider it.

Just so you know how the math works: $15k down and $500 a month is actually $1,000 a month with zero down plus a HUGE risk of losing your $15k in case of an accident.

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[kens]

I heard from a buddy that GM is giving some incredible discounts on the Silverado EV right now. He said he leased one with an MSRP of $95,000 for only $15,000 down and $500 a month.

Since it's a lease, Chevy must be claiming and apparently passing on the $7,500 tax credit, but still, my Mach-E was $15,000 down with $450 a month with an MSRP of $51,500 (not counting $7,500 federal tax credit) for four years.

If trucks are your jam, I would strongly consider it.

That 15k down is scary, I hope that was tax credit and discounts, and not his cash...
Even better, my buddy bought his Denali not long before I picked up my MME. He got away with $0 down!!! And only $1700 a month on his lease. ?

His new Denali deal got me to take notice of the more attractive end of year lease offers on the Lightning, which I missed by a few days, which led ultimately to my MME.

 

[Dear_OP]

YOLO.... Tesla Model X. Falcon doors. I heard the S/X are finally getting a proper refresh.
Keeping with the YOLO theme BMW iX, Polestar 3,

Juniper Model Y and Polestar 4 are on my future test drives.

But if Canada ever allows Chinese EVs..... all bets are off!

 

[kens]

YOLO.... Tesla Model X. Falcon doors. I heard the S/X are finally getting a proper refresh.
Keeping with the YOLO theme BMW iX, Polestar 3,

Juniper Model Y and Polestar 4 are on my future test drives.

But if Canada ever allows Chinese EVs..... all bets are off!

Always loved the X on paper, never driven it, used prices are reasonable now too. Good to hear a refresh may be coming.

I've spent a fair bit of time in a Y as both driver and passenger and was not impressed. The ride was beyond awful, the self drive was cool, but not good at the time. The refresh sounds promising though, I'd like to check it out in a few years when I start thinking about a replacement for the MME. Though the Scout...

 

[ARK]

Just so you know how the math works: $15k down and $500 a month is actually $1,000 a month with zero down plus a HUGE risk of losing your $15k in case of an accident.

I think still it’s a great deal. For vehicles around that MSRP, you are typically looking at several thousand dollars down AND monthly payments well north of $1,000.

My understanding with leases is you are still generally on the hook for the entire cost of the lease separate and apart from a vehicle’s fair market value if it gets totaled. The totaling of the car does not release someone from their obligation to make the lease payments.

 

[GreaseMonkey]

I think still it’s a great deal. For vehicles around that MSRP, you are typically looking at several thousand dollars down AND monthly payments well north of $1,000.

My understanding with leases is you are still generally on the hook for the entire cost of the lease separate and apart from a vehicle’s fair market value if it gets totaled. The totaling of the car does not release someone from their obligation to make the lease payments.

First, it’s a terrible price on a mme, maybe okay for a lightening. There is no such thing as thousands down on a lease if the customer is financially literate. Only illiterate people who show up with “I want my payment to be $500” would end up with a shitty deal like that.

Second, what happens in case of an accident is exactly the opposite. You should never put any money down on a lease because if your vehicle gets totaled, the insurance company will make ford credit whole, you owe nothing, and (most importantly) you get nothing. Why would you gamble with $15k?

That of course is on top of the fact that your opportunity cost on $15k over 3 years is quite substantial, especially when ford is offering effectively 0 MF.

 

[DaddyDeuce]

Just so you know how the math works: $15k down and $500 a month is actually $1,000 a month with zero down plus a HUGE risk of losing your $15k in case of an accident.

The lease in question was on a Chevy Silverado EV, presumably made through GM Financial. GMF includes gap insurance in their leases (section 23b) to protect the lessee from the circumstance you describe.

"If the insurance settlement we receive is more than the Net Lease Balance, you will receive a credit for any excess."

This has become more common among captive finance companies but I don't have a list of who does and doesn't.

 

[GreaseMonkey]

The lease in question was on a Chevy Silverado EV, presumably made through GM Financial. GMF includes gap insurance in their leases (section 23b) to protect the lessee from the circumstance you describe.

"If the insurance settlement we receive is more than the Net Lease Balance, you will receive a credit for any excess."

This has become more common among captive finance companies but I don't have a list of who does and doesn't.

Good info. But leasing companies have no incentive to push to get a higher settlement from an insurance company. Insurance companies are notorious for lowballing settlements (as they are incentivized to do). So sure, you will get table scraps if there are any left. But you are stuck between two enormous entities that have control and don’t give a rats ass about you.

Why would anyone knowingly put themselves in a shitty situation, when they have an opportunity to have the upper hand, hold their cash in the bank, and make some interest on it? That’s what I’m calling financial illiteracy. And it objectively is.

 

[Sinclair63]

I would wait for the Scout. It's going to have a battery and small engine to get close to 500 mile range. I work for the engineering firm designing the facility. it seems like it's going to be my next EV/hybrid once it comes out in 2027. It's got the range, size and efficiency i want.

 

[stoopid]

Having just exited my EV search and landing on the MME, you have my answer. MME, Kia and Hyundai's options were the top contenders.

Having kid(s) shouldn't move the needle in your needs, the MME is plenty big unless you're raising future farm hands and expect more than 3 (in which case, I'd suggest spreading them out or just ... why?). The Select has AWD as an option now, but the premium with extended range and awd should suffice and have a lower payment than you had. The 2024+ are very quick too with AWD, so you won't miss the GT much.

The Lightning isn't going to transport any more inside the cabin than a MME. Trucks are for hauling materials to job sites.

The lease/financing deals and fair tradein offer from the Ford dealer, plus home charger included with the MME, was too compelling. 2/3 of these reasons I just listed don't apply to you, so the MME really only makes sense if you want the lower payment. If you're just looking for something different, you don't need our permission. The EV6/EV9 and Ionic models are objectively good vehicles, but they're also more expensive at current pricing/deals. I'm not sure they actually offer more, but they are not a Ford.

 

[B177y]

Hoping this will start a conversation with those in the forum who have either swapped to something else or have another EV in their house


I'm a real estate agent that drives 3,000 miles a month.

Since buying my mach e gt I added a toddler to the mix..we also have 3 dogs. MN winters and a road trip to Chicago a few times a year.

Currently leaning slightly used EV9. They aren't dropping new ones on the market until the 2026s and that's supposed to be second half of the year.

R1s is hard to find a decent price used and all the 0% is on the 100k version.

Lightning they are dealing left and right on as the sales have plummeted.

Thanks in advance!

1. Familiar with Ford EV platform (MME)

2. 3000 mi per month + road trips

3. Toddler + toddler stuff

4. 3 dogs + dog stuff

5. Winter driving

6. Real estate agent driving clients around (need comfy cabin)

7. "Lightning they are dealing left and right on as the sales have plummeted."

Umm, answer seems obvious to me. Lightning.

 

[njb]

We just got rid of our S and got a Lucid Air GT. It's a NICE car (so much more high end feel in both interior and handling than the Tesla) and the range is superb. Husband was a little apprehensive about the charging network but we just took it on a 3.5 hour drive this weekend and didn't have to charge until we reached our destination and it was easy to find a fast charger once I told him to look at more than just EA. We spent less time overall charging the Air than we did charging the S on previous trips.

The Gravity looks really nice too and is already open to the Tesla network, but I think the ordering process is a little long and the deals are not as good as they are on existing Airs.

I also like the R3X and it might tempt me away from my MachE if they ever release it.

 

[SonicBlue]

Whatever you do, buy USED but with some warranty remaining. My top 3 would be:
- R1S (but only if you can find one sub $60k)
- MME
- EV9

 

[bholt12]

An EV9 would be at the top of my list, although I haven't investigated further.

We have an EV0 in addition to my MME/GT, the EV9 is great, it drives like a large SUV, and has a ton of features I appreciate like the massaging driver's seat, power-folding rear seats, rear view mirror/camera. PM me if you have any specific questions, I would buy again.

 

[generaltso]

We have an EV0 in addition to my MME/GT

The EV0 must be tiny!

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