May sell the Mach-E...

[Extortion]

On Feb 5, 2021 I took ownership of my Mach-E (Extended Battery, Premium Trim, RWD, Infinite Blue) at MSRP $53,500 - after TTL it cost me about $57k

16 months later to today, June 7, 2022 with over 10,800 miles driven - I received an offer from a car wholesaler who wants to buy it for me for $57k, exactly what I paid for it new!

Can't believe I'm saying this, but... I may do it?

I took full advantage of the $7500 tax credit for 2021 taxes, so it's essentially like I got paid $7500 to drive a nice vehicle for 16 months.

Anyone else have a similar experience? What do y'all think?

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[tuminatr]

I checked it out too, with the intent of buying a new GT or just another premium. With everything avalable locally at a 5k to 10k premium over MSRP I don't think the time is right for me. I may check again when the 2023 model ordering opens up.

I did check vroom, driveways d a few others
The best offer was $57800 for a 2021 premium AWD extended battery with 17k miles.

One other thing to consider tax is expensive. In MN where I live you only pay sales tax on the trade difference. So even of a trade in offer is a little less it may be an advantage.

 

[KevinS]

What is your motivation? Money, or getting a different vehicle?

 

[SWO]

Which buyer?

 

[rodhx]

Gonna be selling mine soon and got a similar offer, $57k+, 21 premium 4x w/23k miles. She’ll be gone as soon as my Rivian delivery is final. Never guessed my name would get pulled on a Rivian before Ford would consider allowing me to order a Lightning

 

[Extortion]

What is your motivation? Money, or getting a different vehicle?

Main motivation is just taking advantage of an opportunity to get my money back and start over with a new vehicle if I wanted. I'm looking at 3 different EVs: the GT Mach-E, the BMW i4, or even a Porsche Taycan.

I know all 3 have waits spanning until 2023, but I also know if I try hard enough and call enough dealerships, I can eventually get one within the next few weeks from someone who cancelled their order

 

[Extortion]

I checked it out too, with the intent of buying a new GT or just another premium. With everything avalable locally at a 5k to 10k premium over MSRP I don't think the time is right for me. I may check again when the 2023 model ordering opens up.

A dealer in Texas was selling a new 22 premium for exactly what I could get for my used one, but I called them and they say they sold it just a few hours before I called! And surprisingly it was at MSRP too, it was an order that someone cancelled and the dealer didn't upcharge to resell it. So you could get lucky! Just requires lots of calls haha and constantly searching

 

[FLmac]

Did the broker reach out to you? I’m getting ready to sell my 21 since my 22 will be in soon. Looking at all my options.

 

[Extortion]

Did the broker reach out to you? I’m getting ready to sell my 21 since my 22 will be in soon. Looking at all my options.

I posted it on Autotrader just for fun to see what offers I could get! A bunch of 55k and below, but this one at 57k has me thinking about it seriously

 

[RedStallion]

I think you will owe capital gains tax if you make a profit from your sale. I think the taxes and fees will be excluded form the cost basis and the tax rebate will be deducted, in effect making it taxable. Consult the tax specialist for that.

 

[FLmac]

I posted it on Autotrader just for fun to see what offers I could get! A bunch of 55k and below, but this one at 57k has me thinking about it seriously

I got a quote a few weeks ago from Driveway for over $56k for my 21 Premium AWD sr with 7k miles. If that offer is still the same in the next few weeks I’ll probably take it since all in after $2500 ADM, dealer fee, TTL I’d only “lose” about $800.

 

[Deleted member 4669]

I’ll be doing the same if my bronco ever shows up.

 

[Greymalken]

Gonna be selling mine soon and got a similar offer, $57k+, 21 premium 4x w/23k miles. She’ll be gone as soon as my Rivian delivery is final. Never guessed my name would get pulled on a Rivian before Ford would consider allowing me to order a Lightning

Damn. Lucky dog. I’ve loved the Rivians since seeing them on Long Way Up.
FWIW, I didn’t expect the wait for the Lightning to be quite this long either.

 

[Extortion]

I think you will owe capital gains tax if you make a profit from your sale. I think the taxes and fees will be excluded form the cost basis and the tax rebate will be deducted, in effect making it taxable. Consult the tax specialist for that.

I'll ask my CPA! I'm inclined to believe there was no capital gain per say, given the vehicle cost what I'm getting paid for it, so I broke even. The "profit" is from the tax credit I took

 

[mjs020294]

The big issue selling in this market is you will then have to buy in this market.

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