Trade in Value

[nvabill]

Has anyone traded their Mach e in?
OMG I can't believe the value has dropped this much.

The dealer is telling me even equity right now, and I have made an extra payment of 1000 every month for 18 months.

6 months ago CarMax type companies were offering more than what we paid.

6 months ago dealers were charging ADM and now they are piling up on the lots. Best to just keep driving it and get your money's worth out of it.

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[Chicago-E]

Yup. In October 2022.. I traded in my GTPE for $72K (paid $69K) for the 22 Premium AWD ER as I got nailed for speeding and wanted more practical range. These days.. you'd be lucky to get $55K for the same GTPE.

I bought a used GTPE with 9k miles in feb for 57k. Dealer orginally had it on they lot for 75k in august.

 

[SpaceEVDriver]

FB marketplace. I've seen some good prices from private parties.

The ones within 500 miles of me are still not much different from Cars dot com or some of the other online brokers.

 

[robbinbadams]

I have been driving my extended range rwd premium for a year and loving it. If I traded it it would be for an awd for a little more punch but it has plenty as is.
I think I will keep it for at least 4 years at which point it will have 90k miles on it. Then again if it is still going good I maykeep it longer. Driving 80 miles a day and gas prices jumping due to opec cutbacks it makes sense to keep driving it.

 

[kennethjk]

I was looking at a BMW i4 4.0. They offered me about $30k after contacting a Ford dealer, for my 21 premium, 4wd, extended battery. My option loan balance was about $27k, 13k miles and I have the car for 12 months.

 

[MachA]

For a European perspective, I paid 47k incl. taxes in May 2022, trade-in value seems to be around 33k at 12k kms Odometer. I was pretty surprised at that, especially considering buying a similarly configured vehicle new from Ford would be around 62k now.

When looking at the large amount of used Mach E's put up for sale by private sellers or on dealership lots, I was even more shocked, thinking that the Mach E was particularly undesirable. However, turns out other used EVs are hit with the same or even worse depreciation. A colleagues 2022 ID3 for example was 41k new and trade-in now hovers around 25k. Not to speak of the actual thousands of Tesla Model 3s sitting on lots because nobody in their right mind would pay just 3k under the new price for a used car when you can take delivery in mere days with Tesla.

I feel like the demand for used EVs is curbed by multiple factors, not the least of which are the new car focused subsidies, generally questionable economic outlook, high credit rates, and the typical EV buyer just being more interested in new cars, whereas the people interested in used cars are more budget-conscious and turned off by the aforementioned factors, leading to reduced demand - and thus, price. A due market correction also seems to be in progress.

Personally, I wouldn't panic over the somewhat disappointing trade-in values, however, I like my car well enough and have no reason to want to get rid of it immediately.

 

[Randy]

Got in the $36,000 range for a 2021 delivered in April 2022, rw, ex range, premium with just under 3,000 miles last month for a trade in on a Lexus RX 350 hybrid premium plus. Disappointed.

So, do you need a taller rear area vehicle for that cock-roaching big boy greyhound in your photo?

 

[BigMach-E]

I got 35k for my 21 Select AWD as a trade in at 24k mileage and a little less than 2 years of ownership and I felt like I was taking a bit of a bath, basically paid my loan off. Got a refund of 2k from my previous dealership on my unused ESP.

Good thing my dealer had a 21 GTPE with all of the options (Active Park Assist, glass roof, KtO tailgate BlueCruise) with only 2.8k miles for 62k in my color, or I wouldn’t have bit. I’m glad I did, and I’m glad I’m getting my HVJB replaced right now. Actually wasn’t overall a bad deal.

 

[Polyphonic]

I sold my Lightning for a big loss. Market has changed.

Dealers/CarMax, etc. will try to make about $6k off of a car, then drop price as need be.

 

[RedStallion]

Has anyone traded their Mach e in?
OMG I can't believe the value has dropped this much.

The dealer is telling me even equity right now, and I have made an extra payment of 1000 every month for 18 months.

6 months ago CarMax type companies were offering more than what we paid.

I've been booking appointment at the dealer and out of curiosity looked at their stock. To my surprise they offered upto $1000 dealer discount off the MSRP. If the new car prices keep falling, the trade-ins must be falling even faster.

 

[Jim622]

It's really funny that every dealer around is advertising how they need used cars. I hear every day how they want to buy your used car. The only problem is they don't want to pay for it.

 

[leeman]

Yep they are going down in price every day

 

[jmatero]

Yeah, I’m pretty convinced at this point that I‘lol be driving my 22 GTP for the full 3yrs. Hey, not a bad place to spend 3yrs!

 

[Socalsp3]

Saw the writing on wall and sold my premium rwd for 52k to car max a day after the Tesla price cut. I was hoping for at least 46k and couldn't sign the papers fast enough when I saw the offer. I checked on their site but they never listed it. I figured a CarMax employee must have bought it.

We just got solar and plan to run our two EVs to the ground. It's nice not to worry about volatile gas prices or electric rate hikes.

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