Should I Buy This Used Mach-E?

dcacosta

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So my dealer has a grabber blue FE available, but apparently the person that ordered couldn’t pay the down payment and the deal fell through… Unfortunately, this was after the vehicle was titled and registered, so they have to sell as used. After hours of debate, I was able to get them to come down off the MSRP $1,500.00 and they are still able to get me the Ford Options with the $2,500.00 rebate and the $100.00 early adopter rebate along with the CA clean air rebate of $1,500.00.
The only thing is, he said I might not be able to claim the credit on my taxes, but it mostly won’t matter because I won’t have little tax liability after my earned income credits…

I want the car, but need advice to see if it’s a good deal. Car has 800 miles…

Thoughts ??
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exact33

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Yep! I have enjoyed mine a lot! Just get a home charger if you don't have one
 

ab13

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Just be sure they can give you the California program rebates, since those seem to apply to new vehicles. California has some additional programs for lower incomes ranges.

This is for new vehicles
https://cleanvehiclerebate.org/eng/eligible-vehicles

I noticed it says this:
"Are there any exceptions to the “new” vehicle requirement?
There are three exceptions to the new vehicle requirement:

Unwind vehicle – The sale/lease was not consummated and buyer never took delivery
Rollback vehicle - Returned to a dealership shortly after being purchased/leased
Unregistered dealership floor model and test drive vehicles
These vehicles must not have been previously registered and must have an odometer reading of less than 7,500 miles. Additional documentation and/or written dealership verification will be requested at the time of application review to determine if a vehicle meets a new vehicle exception.

In cases of eligible rollbacks and unwinds, a Used Vehicle Dealer Notice/Temporary Identification may be submitted accompanied by the associated statement of facts. The dealership must verify in advance that the vehicle has not been previously rebated. Additional documentation for the vehicle status as a rollback or unwind may be required. Vehicles that already received a rebate are not eligible for another rebate, unless the full amount of the original rebate was returned."


This is for new vehicles, but the dealer may be able to pass the rebate to you. That should be confirmed in writing.
https://cleanfuelreward.com/?gclid=EAIaIQobChMI_r_T-_yr8AIVoCCtBh2OLAqTEAAYASAAEgJuVPD_BwE
 
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Major

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Yep! I have enjoyed mine a lot! Just get a home charger if you don't have one
I would. That is the car I have. Love it. The car comes with the charger - all you need is a 220 outlet.
 


macchiaz-o

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The only thing is, he said I might not be able to claim the credit on my taxes, but it mostly won’t matter because I won’t have little tax liability after my earned income credits…
This works out very well for you then! $1,500 off MSRP is fantastic.

Since it's used, you are not eligible for the $7,500 federal tax credit. so this is like paying $6,000 ADM.
See OP.
 

hitchhiker

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The one grabber blue FE I saw around here, they wanted 10k markup. I responded telling them I actually laughed out loud when I read it. If I didn't have any tax liability I'd definitely go for a lightly used one at $1500 under MSRP.
 

GJG-Mach-E

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I'm skeptical of the story...I'll bet the dealership GM wanted to use the car for a month and now he gets the tax rebate and not you. There is no way a customer got it titled and registered and the dealership didn't get paid (approved financing at least). I agree with above person who said it is effectively an ADM. But, since you can't get the federal tax rebate anyway, you may be the perfect customer for this car. :)
 

121gigawatts

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So my dealer has a grabber blue FE available, but apparently the person that ordered couldn’t pay the down payment and the deal fell through… Unfortunately, this was after the vehicle was titled and registered, so they have to sell as used. After hours of debate, I was able to get them to come down off the MSRP $1,500.00 and they are still able to get me the Ford Options with the $2,500.00 rebate and the $100.00 early adopter rebate along with the CA clean air rebate of $1,500.00.
The only thing is, he said I might not be able to claim the credit on my taxes, but it mostly won’t matter because I won’t have little tax liability after my earned income credits…

I want the car, but need advice to see if it’s a good deal. Car has 800 miles…

Thoughts ??
Just in case others haven't said it. There are ways to *increase* your tax liability. I won't go in depth because it's not financial advise, but talk to an accountant, they can help you make the most of the $7500.

Just remember if you do buy the car even with $4100 in discounts from MSRP, you're still not going to come out ahead like those that can claim the $7500 on top.

Just saying this because no one knows what the true value of the MME will be as it depreciates. This matters most when it comes to sell/trade in for your next car. So getting that $7500 could make a huge difference.
 

MachE1977

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Dont do it. I bought a used Tesla Model 3 and missed out on the $7500 which I know you said doesn't really matter, but some like to subtract that $7500 from the value of the car when trading it in or if you plan to sell it in the future. You are also missing out on the California $2k for New EV's.
 

smp

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First Editions are getting rare.
I say if you think you want it now, regardless of the story line, go for it!

smp
 
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Mirak

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Let’s just assume you’re correct that based upon your situation you can’t use the $7,500 tax credit. That tax credit is still worth $7,500 to most people. Which means this car is now worth at least $7,500 less than MSRP.

Well, except that the car is “worth” what somebody is willing to pay for it. So you just have to ask yourself if you’re willing to pay that price for that car. It’s an awesome car and an awesome color, but only you can decide what you want to pay for it.

Just know that you’ll be buying a car for close to MSRP, even though it has already depreciated by over $7,500. That’ll suck if you decide to turn around and sell it anytime soon.
 

shutterbug

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First Editions are getting rare.
I say if you think you want it, regardless of the story line, go for it!
There are plenty used first editions. ;)
 

shutterbug

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Let’s just assume you’re correct that based upon your situation you can’t use the $7,500 tax credit. That tax credit is still worth $7,500 to most people. Which means this car is now worth at least $7,500 less than MSRP.

Well, except that the car is “worth” what somebody is willing to pay for it. So you just have to ask yourself if you’re willing to pay that price for that car. It’s an awesome car and an awesome color, but only you can decide what you want to pay for it.

Just know that you’ll be buying a car for close to MSRP, even though it has already depreciated by over $7,500. That’ll suck if you decide to turn around and sell it anytime soon.
And for that extra $6,000, you can order a brand spanking new GT in the same color (or whatever color you want).
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