Our cars are devalued significantly.

[Sikkun]

But this wasn’t expected. My value rose for a year and half then got cut in half in a single years.

That’s unprecedented. No one here predicted it either (feel free to scroll the posts for the last few years) until after it happened.

It’s easy to predict a storm after it starts raining.

And being the guy that says “well it rains sometimes, should have been holding an umbrella” doesn’t help when you’re already wet. ?

It going up, is pretty unusual.

The car dropping from it’s MSRP significantly over several years is not unusual.

Generally 40% in the first 3 years. So if you spent $60k on a 21 GT it selling for $36k now doesn’t seem very unusual.

If you spent $60k on a 2023, yes it’s worse right now. Come back in 26 and see what it is compared to average.

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[thekat03]

https://insideevs.com/news/722956/used-ev-prices-crashing-good-news-for-buyer/

9 pages on this thread means this headline is probably a given. However, they potential whys addressed in the article are worth noting.

 

[helium89]

If I was one of those people who traded in their car as soon as the warranty expired, I'd have bought a lot more cars. And taken huge financial hits in the process. We keep our cars for a minimum of 6 years. Sometimes as long as 12. Yes, when the warranty is up I have to pay out of pocket for some repairs. Even when the '04 Sienna required $4K worth of repairs in a 2-year period it was significantly cheaper to pay than to have top go out and buy a new mini-van. Or even a used one with less miles on it (over 180K at the time).

To me, I'd rather put up with Ford's growing pains here as they figure out the best way to handle this stuff than to take a huge financial hit because I couldn't be a bit flexible. I get that everybody's tolerance for crap from the manufacturer is different, and others have clearly chosen a different path than me. I currently have my car stuck at the dealership because the required software updates associated with the HVBJB recall seems to have gone awry. My warranty just expired. But I have no doubt that the dealer will make things right, and the car will give me plenty of trouble free driving as it did for the first 36K miles of its life.

I usually buy used cars and drive them until repair costs become unreasonable. We bought the Mach-e new because it was cheaper than buying a used EV at the time. I understand that parts eventually start to break, and I’m fine with paying for replacements as necessary when a car is outside of warranty.

What I’m not okay with is paying for repairs that are only necessary because of Ford’s shoddy software testing. There have already been multiple software bugs that can only be fixed with a trip to the dealership, and it’s not out of the realm of possibility for a bad update to cause damage that requires hardware replacement to fix. Buggy software updates may be a symptom of Ford’s recent entry into the EV market (although they really should have been able to iron out most of the wrinkles by now), but sticking customers with the bill for damage they caused is 100% the result of a corporate culture that values bean counting above all else.

I’m dealing with a chronic health condition that flares up in response to stress, so I’m willing to cut our losses and tell myself that it’s money spent trying to stay healthy. It’s just infuriating that such a subpar customer experience has been normalized to the point that I have to make that choice.

 

[Geep]

"Breaking even" with taxes just means you pay the correct amount up front on a quarterly basis or through FICA deduction throughout the tax year. Income only comes into play as dictated by the law that regulates the income limits for eligibility of the tax rebate.

You know we pay 20-30% of our income to stay out of prison? Hmmmmm

 

[mkhuffman]

I usually buy used cars and drive them until repair costs become unreasonable. We bought the Mach-e new because it was cheaper than buying a used EV at the time. I understand that parts eventually start to break, and I’m fine with paying for replacements as necessary when a car is outside of warranty.

What I’m not okay with is paying for repairs that are only necessary because of Ford’s shoddy software testing. There have already been multiple software bugs that can only be fixed with a trip to the dealership, and it’s not out of the realm of possibility for a bad update to cause damage that requires hardware replacement to fix. Buggy software updates may be a symptom of Ford’s recent entry into the EV market (although they really should have been able to iron out most of the wrinkles by now), but sticking customers with the bill for damage they caused is 100% the result of a corporate culture that values bean counting above all else.

I’m dealing with a chronic health condition that flares up in response to stress, so I’m willing to cut our losses and tell myself that it’s money spent trying to stay healthy. It’s just infuriating that such a subpar customer experience has been normalized to the point that I have to make that choice.

With your condition are you allowed to drink beer?

 

[mkhuffman]

But this wasn’t expected. My value rose for a year and half then got cut in half in a single year.

That’s unprecedented. No one here predicted it either (feel free to scroll the posts for the last few years) until after it happened.

It’s easy to predict a storm after it starts raining.

And being the guy that says “well it rains sometimes, should have been holding an umbrella” doesn’t help when you’re already wet. ?

For sure hindsight is 20/20. However, I knew this was going to happen. Supply and demand is a well-known phenomenon.

When I purchased my MME, supplies were significantly constrained. I knew manufacturing would catch up with demand and I knew prices would come back down to normal.

Did I know exactly how much my car was going to be worth two and a half years after I purchased it? No. But it was not surprising at all that Ford was able to produce more cars and fill the car lots again, turning it from a seller's market into a buyer's market. And naturally that's going to have a significant impact on those who purchased when it was a seller's market.

You like to argue, don't you? So do i! But I think I'm done with this topic. It really is getting old.

 

[devmach-e]

You know we pay 20-30% of our income to stay out of prison? Hmmmmm

Some people pay that. Some people pay less. Some people pay more. It depends upon their income source. Some income sources aren't subject to income tax. Or the tax payer gets a credit that reduces their effective tax rate to very little or nothing.

 

[Kamuelaflyer]

I think all arguments have been made.

Horse. Dead.

 

[Norcolboulder]

https://insideevs.com/news/722956/used-ev-prices-crashing-good-news-for-buyer/

9 pages on this thread means this headline is probably a given. However, they potential whys addressed in the article are worth noting.

Many purchased new or used- after January 2024. And Tesla and other EVs also had significant price adjustments as well. All early adopters who purchased EVs were impacted .

 

[MightyMike]

I think all arguments have been made.

Horse. Dead.

Yes. But what kind of horse? And how did it die? Did it die quickly? Or slowly?

Or...is it really just sleeping, and not really dead!

 

[nvabill]

You are clearly new to the internet if you think that's the end of it...

Yeah, I was thinking the horse has been dead a long time even before this thread was started!

 

[nvabill]

Yes. But what kind of horse? And how did it die? Did it die quickly? Or slowly?

Or...is it really just sleeping, and not really dead!

Painfully and excruciatingly slow! ?

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