Trade in Value

[Sillybibbles]

It's mostly about the Tax Credit. If the new unit costs $7,500 less overnight, then the used ones drop quickly after that. Who would buy a 1-2 year old car for the same as a new w/ rebate? The good news for owners is that the rebate will drop to $3500 in Apr. 2023, helping values bouy back up a touch.
But it's also about supply - in early 2022 there were huge markups above MSRP and slightly used were selling above MSRP. Fast forward to 2023, and I bought last week at MSRP. So now we're back closer to historical used car value drop-offs.

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[Sillybibbles]

It's hard to know what actual selling price is for a used Mach E. Offer prices online are not actual selling price... In general, used car prices are falling back to traditional levels (blue line below), and the prices of used EVs are being hit by Tesla price cuts.

Could be worse... (could be raining ), the average used tesla tanked ~20% when new prices dropped ~20%

In 2020 most manufacturers cut their economy car production to almost nothing. Cars don't have to be this expensive, it's just that it's super hard to find a small, cheap new car despite there being a market for them.

 

[Mach1E]

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.

Limited use? Good golly that sucks too! Will kill resale if you use up all your boosts!

Why can’t car builders manufacture a BEV that can handle the power?

It’s like admitting defeat up front to say “sorry, we are pretty sure your car is going to break, we didn’t make it strong enough, so instead, you don’t get the full power you paid for.”

 

[Russe197]

So, I’m in the car business…

definitely have seen a drop in electric demand overall… values also droppedon used cars when Elon (and then Ford) dropped their prices on new a month or so back.

Add in the fact that a lot of folks paid above MSRP for these vehicles… and yeah.. I can see that you’re upside down AND the values have dropped.

BUT.

Used car values are going back up due to vehicle supply being low. Also, especially in big cities, expected to see more fuel, efficient, vehicles, and electric vehicles, being in higher demand through the summer months as gas prices go up too. It won’t go crazy… but it will get better.

biggest issue with the used car market right now it is the financing rates are much higher. A used car buyer is more sensitive to this, so more people are considering repairing their current vehicles rather than replacing them.

 

[HalifaxDC]

Question for all the people who want out of their Mach-E. What is the actual reason? Are there really that many issues with them, or do you just have a short attention span and want something new/different every year?

 

[Clicker]

In my case it was my only vehicle. It left me stranded on the side of the road twice within four days with software issues. I lost all confidence in the car. Especially with all the "stop safely now" stories I was reading on this forum. No longer cared about how good looking it was...time to say bye bye.

 

[moparguy]

I may be one of the few that both isn’t really shocked and doesn’t care much that resale values are going down to “normal levels.”

I feel like I got a killer deal when I traded in my last car on the Mach E, so it’s just fine.

They gave me $45k for my 2015 Chevy SS sedan. I only paid $36k new for it.

That plus X plan and $7500 federal tax credit means I did just fine on an every option GTPE. Only cost me $20k OTD plus trade.

Considering how I was expecting a $20k resale on my SS when I bought it new…… totally fine.

Who on earth trades a Chevy SS for a Mach E, those are becoming collectible cars these days!
Sorry but I had to make you feel guilty a little bit those were underrated cars that finally started to get the true recognition they deserve.

 

[Mach1E]

Who on earth trades a Chevy SS for a Mach E, those are becoming collectible cars these days!
Sorry but I had to make you feel guilty a little bit those were underrated cars that finally started to get the true recognition they deserve.

Lol no worries.

I loved that car but honestly don’t miss it a bit*. GTPE is faster, more fun to drive, way better tech and just makes a better daily driver.

The SS was great though. I wouldn’t call it underrated at all though. From day 1 every review was glowing and everyone who knew what it was loved it. Unknown maybe, but not underrated.

*I do miss the sound it made when you start it up. Even my wife used to love to remote start and watch heads turn confused as to why the Malibu sounds like a Corvette.

 

[RoseCityKittie]

Question for all the people who want out of their Mach-E. What is the actual reason? Are there really that many issues with them, or do you just have a short attention span and want something new/different every year?

I want out of mine for the same reason I wanted out of my Tesla, I am tired of how unreliable it is. I am usually one to drive a car for years, but I have had a hell of a time with EVs.

I have had my Mach-e for a year this week and it's been into the dealer 5 times. Twice for updates that wouldn't install OTA, and 3 times for 12v battery issues and a bad washer fluid sensor. This last time it was there for a week and a half to replace both front door modules because they were draining the 12v. Hopefully this fixes that issue.

On the way home from picking it up yesterday the washer fluid warning came on again because they didn't actually do anything about it because they "couldn't reproduce the issue" even though I told them it was intermittent, and had photos if they needed them. So now I have to take it back in on the 21st to have that replaced.

I am very tired of seeing my local service guys. I just want something that was as reliable at this point.

 

[Scooby24]

Limited use? Good golly that sucks too! Will kill resale if you use up all your boosts!

Why can’t car builders manufacture a BEV that can handle the power?

It’s like admitting defeat up front to say “sorry, we are pretty sure your car is going to break, we didn’t make it strong enough, so instead, you don’t get the full power you paid for.”

Right? Can you imagine the secondary market for those where you gotta ask the original owner how many boosts did they use?

Ridiculous. I thought our 5 second power limit was bad...not even remotely as bad in my mind as tracking how many times you can have full power before it's taken away from you.

 

[ryi0205]

Question for all the people who want out of their Mach-E. What is the actual reason? Are there really that many issues with them, or do you just have a short attention span and want something new/different every year?

Mine is a simple reason. Looking to sell my 2021 Job 2 Premium AWD ER because my 2022 order that transitioned to 2023 came in Feb and that’s what I now drive. The 2021 has been great, getting regular OTA updates and functioning well overall. I am one the lucky ones with a well running car but we don’t need two of them. Has approx 8,600 miles on it after 13 months. Anyone interested? ?

 

[Ghost Ryder]

Right? Can you imagine the secondary market for those where you gotta ask the original owner how many boosts did they use?

Ridiculous. I thought our 5 second power limit was bad...not even remotely as bad in my mind as tracking how many times you can have full power before it's taken away from you.

I guess it's going to be like buying a used battery. Got to find out how many charge cycles it already consumed.

 

[Mach1E]

I guess it's going to be like buying a used battery. Got to find out how many charge cycles it already consumed.

Not at all.

Used battery wouldn’t have some artificial programmed in horsepower limit.

It’d be like buying a used v8……… with two cylinders that won’t fire and can’t be fixed.

 

[pianu99]

Question for all the people who want out of their Mach-E. What is the actual reason? Are there really that many issues with them, or do you just have a short attention span and want something new/different every year?

Hey there, I'll give you my actual reasons for selling my 22 GT PE.

I want to clarify that I still think the Mach E is a GREAT car overall. It just wasn't the right car for me right now. I still keep tabs on it, as I think it will do well in the coming years.

My top three reasons:

1. Hated the sporty ride quality. I found my GTPE way too intense to drive on most roads. On new highways, buttery smooth... but on the crumbling back roads where I do 90% of my driving, the jolts and bucking were pretty gnarly. My previous cars were all Audis, so my driving preferences are very geared towards insulation from the road.
2. I didn't like driving a fast, noticeable car. Again, personal preference here... I quickly found that I felt very uncomfortable in a "looker." I'm not a particularly fast driver, but I also noticed that if I outpaced someone in a sports car or truck, they'd often make a point of trying to gap me or cut me off down the road. Every once in a while, I'd get baited into racing a guy at a stoplight (the MME would beat any ICE car hands down), which is kind of fun but mostly stupid and childish.
   1. Secondly, there's been a TON of car crime in my city, and I was too nervous to ever park it on the street. I racked up a lot of garage/valet fees.
3. EVs are sub-optimal road trips. Yes, point-to-point travel where you stick to the major highways and stop for 30 minutes at Walmarts is fine. But I prefer the gas-and-go convenience of ICE. No DCFC station randomly offline... you can hit little out of the way towns and sights without range calculations... and you don't need to hang out in Walmart parking lots.
   1. (Again, this was me learning about what EVs are good for and what they're not; this is not the EV's fault).

I bought a 2021 4runner shortly after I got the Mach E, because I wanted a car for off-roading, hauling and camping out of... wound up liking it so much that the MME became a garage ornament that I hardly ever drove. I sold it so that somebody else could have more fun with it.

 

[J5hort]

Bought 2021 MME select in Sept 2021 on Ford Option, No ADM, Dealer rebate, Fed tax credit and state rebate. After all cost was $36K. My baloon is 18K is at 4 years and state requires me to keep for 3 years (although I already received rebate). Planning on shopping 2024 and sell at 3 yrs (probably private party). My break even is abouy $26K after 3 year, 18K at 4 years, keep or walk away.

Simple supply and demand. Supply of EV's has increased in the past few years anticipating increase in demand, it has not happened. I still do not think people trust te techology and even my green friends have found every reason not to buy one. Price was always an answer, but even lower prices are not switching them over to EV.

Companies are sinking billions into the technology and plants (check out Blue Oval City). This is a long term play. Supply will continue to increase and demand may stay relatively stagnant which is causing a price drop. The shorter supply for years past and ability for dealers to get ADM was a product of a lower supply and healty demand. Once demand increases, and more adoption happens, we may see values hold their own (or become more consistent with traditional depreciation and values.

So leaves me thinking, sell at 3yrs to get better than $26K or keep an extra year to better $18K. Hmmm (12k miles a year is the usage)

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