Resale value on competition

[FLmac]

I’m sorry if this has been asked. I’m waiting on my MY22 order and thinking about buying a “place holder” car for the next month or 2. I would more than likely trade or sell it when my order comes in. Has anyone bought an EV6 or Ioniq 5 and sold it when their order came in? What’s the resale like? Any advice would be greatly appreciated.

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[RickMachE]

But you have a 2021, no?

 

[heisnuts]

Yeah, I remember the road trip story back to Florida along the East Coast....

 

[Logal727]

I’m sorry if this has been asked. I’m waiting on my MY22 order and thinking about buying a “place holder” car for the next month or 2. I would more than likely trade or sell it when my order comes in. Has anyone bought an EV6 or Ioniq 5 and sold it when their order came in? What’s the resale like? Any advice would be greatly appreciated.

Uh, what happened to your other car?

 

[ChasingCoral]

I’m sorry if this has been asked. I’m waiting on my MY22 order and thinking about buying a “place holder” car for the next month or 2. I would more than likely trade or sell it when my order comes in. Has anyone bought an EV6 or Ioniq 5 and sold it when their order came in? What’s the resale like? Any advice would be greatly appreciated.

A friend bought a Tesla Model 3 a few months ago and sold it for a $9K profit last month when he bought his Ioniq 5.

 

[FLmac]

I still have my 21 but I’ve been having weird power error codes. Two in the last few weeks. I fear the amount of time and energy it will take to deal with it if there’s a real issue. I’m just thinking out loud if I should do something else for a month or two. I know my current MME sat for about 4 months on a chip hold. I don’t know if that could have anything to do with the power error codes. I can take another tax credit so that’s not a bad thing either.

 

[RickMachE]

Bet you get top dollar for a car with unresolved errors... Buying a car with intent of selling in a month or two would not be in line with tax credit. You have indicated you will be flipping it.

 

[ARK]

Was it in 2022 that you bought the Mach-E you have now?

If you sold this Mach-E, bought an EV6/Ioniq 5, sold that, and bought your 2022 Mach-E, all in 2022, you'd want to make sure you have at least $22,500 tax liability for the year, otherwise, inability to take the full tax credit each of the three times would be sort of like a stealth loss.

 

[FLmac]

Bet you get top dollar for a car with unresolved errors... Buying a car with intent of selling in a month or two would not be in line with tax credit. You have indicated you will be flipping it.

I’m not currently planning on flipping anything. I’m considering all my options, but don’t want to buy a different car to have the same problems or take a bath if I decide to take my MME order in a few months.

I guess I should just cross my fingers and hope there’s nothing really wrong with my current car and wait for my 22 to come in.

 

[FLmac]

Was it in 2022 that you bought the Mach-E you have now?

If you sold this Mach-E, bought an EV6/Ioniq 5, sold that, and bought your 2022 Mach-E, all in 2022, you'd want to make sure you have at least $22,500 tax liability for the year, otherwise, inability to take the full tax credit each of the three times would be sort of like a stealth loss.

It was in 2022. I should have the ability to take 3 tax credits. This isn’t my intention and I’m not trying to “game the system” or whatever. Just trying to keep my options open.

 

[Logal727]

I still have my 21 but I’ve been having weird power error codes. Two in the last few weeks. I fear the amount of time and energy it will take to deal with it if there’s a real issue. I’m just thinking out loud if I should do something else for a month or two. I know my current MME sat for about 4 months on a chip hold. I don’t know if that could have anything to do with the power error codes. I can take another tax credit so that’s not a bad thing either.

And you ruled out the Ford Mobile Charger? It does it on every charger you use?

 

[Socalsp3]

its easier to get a base ioniq 5 off the lot but for that reason its not a hot item to make instant profit. you can still make profit with resale to an online site for 1-2k less msrp and tax credit though. it's a great car i prefer it to mme. i was exploring options to sell my i5 when my mme came but i love it too much. no reliability issues with it yet on ioniq forum. hyundai has been making evs for a while.

 

[dmastro]

Seems like a lot of effort for a short term solution. The search to find a vehicle actually in stock, negotiate the cost and try to avoid ADM which will obviously eat into resale gain, then sell it. I'd assume anything you can find quickly at a dealer lot has enough supply that it won't command a large premium on the used car market.

There's risk of a deflating used car market (it's already softening, who knows by how much in the next couple/few months), reporting the income to the govt (you are required to report the capital gain to the IRS).

I'd much rather spend the time and energy figuring out and resolving what's wrong with my current car.

 

[KrazyEd]

As far as the Tax credit goes, there are two things to consider.
Number one is that you have to " Intend " to keep the vehicle for 6 months.
The 2nd is that it is a Credit, not a deduction. If you were to take 3 credits in
the same year, you would have to OWE around $22,000 to the IRS in taxes.
If not, I don't believe that it carries forward to next year.

 

[Triggerhappy007]

As far as the Tax credit goes, there are two things to consider.
Number one is that you have to " Intend " to keep the vehicle for 6 months.

Where does it say you have to keep it 6 months?

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