Trade in Value

[kennethjk]

That would blow. What if I was trading in a car and the dealer said he's going to give me more than book just so he could screw me on the price of the new car? Wouldn't that be the same scenario? If someone looked at the paperwork they could say I owe tax on the excess value the dealer "gave" me for the trade?

My plan was to look at the current prices when my option is up next July and then make an offer to the dealer based on the market, not what the paper work says I owe.

Not sure it’s the same, has to do with the loan you owe to Ford. If they say the car is worth is the same as the loan then no issue And something they might do

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[SpaceEVDriver]

I paid something like $56k OTD for our 2022 CR-1, new.
There's no way I would pay more than $56k-$7.5k-20% = $39k for a used 2022 CR-1 (and less for a 2021). If the miles on it are close to the 36k warranty, or over, I would drop that another 20-30%, meaning something like $27k to $31k. It doesn't matter to me what the original purchaser paid, that's the value the car has to me. I see people/dealers are still asking up to $55k for a used CR-1 (2022 and 2021!). I can keep waiting.

 

[Johnny572]

Why would I buy a used Mach E or Tesla when you can get a new lowered price car and with the the tax credit. Add on high interest rates especially on used cars and the uncertainty in the economy.

 

[Greddy1]

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 sell Honda and the used car market tanked back in late October. Used car market is going back to where it was pre COVID so all the insane valuation is all gone now

 

[Jim622]

I sell Honda and the used car market tanked back in late October. Used car market is going back to where it was pre COVID so all the insane valuation is all gone now

I agree and I am seeing the same thing. The problem is that every dealer around is saying we need used cars. The problem is they won't pay for them. They keep pulling this auction price crap.

 

[DennisD]

I agree and I am seeing the same thing. The problem is that every dealer around is saying we need used cars. The problem is they won't pay for them. They keep pulling this auction price crap.

The said the exact same thing pre-covid.

Almost every car dealerships will say I need used cars. That is their bread and butter and they will gouge you every step of the way. Welcome to the real world my friend.

Unfortunately, the used car market everywhere has tanked and it is what it is. I have always been a believer of it is not much what you get when selling, but rather what you paid for it. One needs luck to be better on the other side.

I look at it as a buyers market now. I held off on purchasing used cars the last two years because they were stupid prices. I also held off on paying ADM because of the same scenario. The only cars I purchased were ordered cars for my driving school. I will now go back to purchasing used cars that have few miles and at a lower cost. I sold two used cars in the last two years that kind of evened the playing field for my new car purchases. (more for used and more for new) I expected to take a hit on my MME if I were to sell it within a year or two. I will keep it for at least 3 years and see what it is worth at that time. In the meantime, I am going to purchase used cars that many couldn't afford to keep. Win-Win and life goes on.

 

[Clicker]

On August 23 of last year I traded my 21 Premium, RWD, standard battery in for a Mazda CX 5 and got actual cash of $53,000. I paid $47,000 for it with Options and Mustang Club X plan discounts. Mazda immediately sold it to a Ford dealer for what they gave me. Here we are almost eight months later and it is still at the Ford dealer with a price of $43,995. A whopping nine thousand dollar loss. And still sitting.

 

[voxel]

On August 23 of last year I traded my 21 Premium, RWD, standard battery in for a Mazda CX 5 and got actual cash of $53,000. I paid $47,000 for it with Options and Mustang Club X plan discounts. Mazda immediately sold it to a Ford dealer for what they gave me. Here we are almost eight months later and it is still at the Ford dealer with a price of $43,995. A whopping nine thousand dollar loss. And still sitting.

My Toyota dealer in Florida said the same thing. They took an $8K loss on my Premium RWD SR trade in back in late 2021 / early 2022.

 

[voxel]

Thankfully, no. Of course that might be due to a variety of factors. Some of which might be better weather, lack of salt used on roads, and a manufacturer that uses better metal.

I would not consider your weather harsh at all considering even Car Care Nut warns about rust on Toyotas in the midwest and northern climates.

I was going to write a diatribe against Toyota poor designs in their latest cars - after I dumped my turkey of a 23 Sequoia TRD Pro but I would be lynched by Toyota cultists/fanboys.

 

[devmach-e]

I would not consider your weather harsh at all considering even Car Care Nut warns about rust on Toyotas in the midwest and northern climates.

I was going to write a diatribe against Toyota poor designs in their latest cars - after I dumped my turkey of a 23 Sequoia TRD Pro but I would be lynched by Toyota cultists/fanboys.

I've owned 5 Toyotas over the last 27 years. 4 of them are still on the road, 1 owned by a family friend, 2 owned by my daughter, and 1 still being driven by me/wife. The 5th one I stopped seeing in the neighborhood about 4 years ago, but it went well over 20 years. Now, I haven't bought a new Toyota since 2016, so their quality may have taken a crap since then.

Keep in mind that I live in an area that is less than a mile from the coast, we get a pretty intense marine layer, and being next to the coast, lots of salty air. Again, not as bad as living in a northern clime where salt is heavily used on the roads, so my exposure to rust inducing conditions may not be as bad.

 

[SpaceEVDriver]

I was going to write a diatribe against Toyota poor designs in their latest cars - after I dumped my turkey of a 23 Sequoia TRD Pro but I would be lynched by Toyota cultists/fanboys.

For a long, long time I loved my Toyotas. But they've really dropped the ball on being forward-looking sometime in the early- to mid-2010s. Unless something interesting happens with the 2024 Tacoma, my current Toyota will quite possibly be my last Toyota.

 

[LexiRN]

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 just traded in my 2022 select AWD and got 40k on trade. I paid 52k OTD. It's still sitting on the dealer lot at 41k. Original price listed was $43,500.

 

[Billyk24]

Maybe not under warranty, but all 5 Fords with automatics that I’ve owned since model year 1988 have needed a transmission right around the 100K mark. I’m confident my EVs will not incur that level of expense in that time.

My electronic transmission iny 2005 Escape hybrid (200 000 miles) and 2017 CMax Energi have been bullet proof.

 

[Davedough]

The market is over for used cars (for now). The falling prices of new EVs and tax credits (even though they're reduced now) are making a used Mach E not a very attractive purchase. Couple that with stupid high interest rates and its a shitty market to try and sell, or buy really.

I want out of my Mach E, but I'm going to wait because I don't want to buy something else with a high interest payment. Out of curiosity, I looked up a KBB quote and mine says $45k is all I can expect to get for it. I paid $71k out the door in Dec 2021 and I only have 17k miles on it. The vehicles I have my eye on don't usually fall under the manufacturer promo for reduced interest rates, so I'd be looking at best 5.5% to possibly 7% or higher. That's not something I'm willing to do. My finance rate was 1.9%.

 

[Scooby24]

yup, I was hoping to get into a Fisker Ocean this year but after seeing what the market is doing (bad) and now seeing Fisker is going to limit Boosting to 500 uses (wild) I'm definitely okay hanging onto my GT for a while....probably a good long while.

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