Refund Deposit or Flip? (New 2023 Mach-E Select On Way)

[mlee]

Hi,

I have a new 2023 Select (no options) showing up at the dealer this week or next. This was originally a 2022 that I ordered back in March 2022.

Long story short I no longer need the car. Dealer somehow had a 2022 Premium on lot that I bought last November.

So question now is: is it worth it to a.) flip the car or b.) simply just give it back to the dealer and get my $500 deposit back.

Is it worth it to outright buy the car, title it, pay all the tax, and keep it around until it's fully registered in order to make a few bucks from someone like Carvana? It's hard to tell b/c Carvana doesn't even have any 2023 Selects available to gauge.

What would you all do?

Thanks in advance,
Mike

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[generaltso]

The used market has softened quite a bit. I wouldn‘t count on making money on it.

 

[Pushrods&Capacitors]

Hi,

I have a new 2023 Select (no options) showing up at the dealer this week or next. This was originally a 2022 that I ordered back in March 2022.

Long story short I no longer need the car. Dealer somehow had a 2022 Premium on lot that I bought last November.

So question now is: is it worth it to a.) flip the car or b.) simply just give it back to the dealer and get my $500 deposit back.

Is it worth it to outright buy the car, title it, pay all the tax, and keep it around until it's fully registered in order to make a few bucks from someone like Carvana? It's hard to tell b/c Carvana doesn't even have any 2023 Selects available to gauge.

What would you all do?

Thanks in advance,
Mike

As @generaltso stated, the “flip” is pretty much dead. Carvana, Vroom, Driveway, CarMax et al bought too many and now have excess inventory. A few months ago our 4X with 18K miles was netting offers between $56-61K from those sites while NADA book value was a bit higher. Now book value is about $52-55K but the offers are $42-47K . The correction has come quick, and hard.

 

[Phil-Springs]

Do your own research..

 

[MachKet]

NJ doesn't have EV tax and you have the 2k options available. I would purchase and flip it, hard to see you losing money even in a more downish market

 

[kkgg]

would be better if you can give us numbers.. or DIY

1) How much you ordered it for ?
2) How much tax/dealer charges you have to pay ?
3) Whats the price now for the same configuration ?


add 1 and 2, and subtract from 3
If the difference is > 6k (may be there is a chance you will break even).

If you decide to flip - you have to wait for the title approx(3 weeks). In that time, One little scratch/dent/ding on it will reduce the value

 

[MachKet]

would be better if you can give us numbers.. or DIY

1) How much you ordered it for ?
2) How much tax/dealer charges you have to pay ?
3) Whats the price now for the same configuration ?


add 1 and 2, and subtract from 3
If the difference is > 6k (may be there is a chance you will break even).

If you decide to flip - you have to wait for the title approx(3 weeks). In that time, One little scratch/dent/ding on it will reduce the value

I'd guess something like this

0 option select sticker is $48,195 + doc fee, title etc lets say 49.5k no EV tax in NJ
-2k ford options
-3k private offer
-7.5k tax credit

37kish all in. Don't think the market is that down yet to lose money on this.

 

[mlee]

Here's the known:

This is my price:
MSRP: $50,895
Rebate: $3,000
Taxes (PA Based): $3010.34
Tax/Title/Reg: $521.47
Doc Fee: $422
Silent Security (Silly BS dealer option): $299
+ 3-5 weeks of auto insurance
Total: $52,147ish

Figure only benefit I have over a new dude buying the car is I'm paying MSRP and I'm getting the $3K "Rebate".

Here are the unknowns:
- What is the anticipated "used" car price of a 2023 Select with only a few miles. It's a little new to get a gauge. I've seen 2022 Premiums around $55-56K.

- Are there any limitations to the Tax Rebate as to length of time owned?

I'm leaning towards just getting my deposit back, but if anyone would flip, especially with the used car market cooling off, I'd love to hear why.


Thanks

 

[kkgg]

Here's the known:

This is my price:
MSRP: $50,895
Rebate: $3,000
Taxes (PA Based): $3010.34
Tax/Title/Reg: $521.47
Doc Fee: $422
Silent Security (Silly BS dealer option): $299
+ 3-5 weeks of auto insurance
Total: $52,147ish

Figure only benefit I have over a new dude buying the car is I'm paying MSRP and I'm getting the $3K "Rebate".

Here are the unknowns:
- What is the anticipated "used" car price of a 2023 Select with only a few miles. It's a little new to get a gauge. I've seen 2022 Premiums around $55-56K.

- Are there any limitations to the Tax Rebate as to length of time owned?

I'm leaning towards just getting my deposit back, but if anyone would flip, especially with the used car market cooling off, I'd love to hear why.


Thanks

Yeah, looks like not worth.

Tax rebate, you can not claim the rebate if your intention is to flip, But that's a grey area.

I can understand that sad feeling after ordering, waiting, tracking, just to let it go.


but, if you have a friend or family member who is interested to buy it from you, than that might work out

 

[MachKet]

Yeah not worth it if you live in PA, get the deposit back

 

[MachEMaster]

I would get the deposit back, and enjoy the other MME.

 

[Nklem]

I vote for deposit back or lost. Values have tanked (on everything). Late 22 delivery 2022 Premium ER AWDs (3,000 miles) are getting buy out offers of $49-51K now. Selects, around $40K seems to be the number. So sad, it was very good while it lasted..... Inventories for new are starting to climb a little and most folks for a private sale, desire new from a dealer. The Used credit will help but that is 2 years away on a 2022.

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