Trade Up to GT?

[ridgebackpilot]

Friends: I recently took delivery of a 2022 MME Premium ER RWD on a 48-month Ford Options contract. I paid MSRP on an abandoned special order, which was $56,440.

I have a GT on order which should arrive sometime late this year at the same dealership. My question is whether it makes financial sense to trade up? I know some have done that but at what cost? I anticipate the dealer won't mark up the GT when it arrives. Assuming Ford Options financing is still available then, along with the $7,500 Federal tax credit and other incentives, will it make sense to trade-in my MME Premium on the GT? I imagine that I'll have put well under 5,000 miles on my Premium by that time.

Thanks for your advice and counsel.

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[RickMachE]

Friends: I recently took delivery of a 2022 MME Premium ER RWD on a 48-month Ford Options contract. I paid MSRP on an abandoned special order, which was $56,440.

I have a GT on order which should arrive sometime late this year at the same dealership. My question is whether it makes financial sense to trade up? I know some have done that but at what cost? I anticipate the dealer won't mark up the GT when it arrives. Assuming Ford Options financing is still available then, along with the $7,500 Federal tax credit and other incentives, will it make sense to trade-in my MME Premium on the GT? I imagine that I'll have put well under 5,000 miles on my Premium by that time.

Thanks for your advice and counsel.

There are multiple threads like this.

First, if you want to maximize the value of your Premium, consider selling it privately or to Carvana, you will get more than a trade-in.

We ordered 5/29, and are still waiting, but bought a cancelled order on 7/2. We plan on selling our 2021 for a profit, and taking the 2022.

 

[BMT1071]

Friends: I recently took delivery of a 2022 MME Premium ER RWD on a 48-month Ford Options contract. I paid MSRP on an abandoned special order, which was $56,440.

I have a GT on order which should arrive sometime late this year at the same dealership. My question is whether it makes financial sense to trade up? I know some have done that but at what cost? I anticipate the dealer won't mark up the GT when it arrives. Assuming Ford Options financing is still available then, along with the $7,500 Federal tax credit and other incentives, will it make sense to trade-in my MME Premium on the GT? I imagine that I'll have put well under 5,000 miles on my Premium by that time.

Thanks for your advice and counsel.

I think it will depend on the used car market at the time. These days many people are able to sell their car for more than they paid for it. If you are able to fully realize both $7,500 credits it would likely be a pretty sound financial move to get the GT if you are comfortable with the higher price. Which I assume you would be since you ordered the car.

 

[Jeffvisor]

Can you only get 1 $7500 Credit per year? If so consider that if you took ownership of your Premium in 2022.

 

[ridgebackpilot]

Can you only get 1 $7500 Credit per year? If so consider that if you took ownership of your Premium in 2022.

According to multiple other threads, you can get two or more $7,500 Federal tax credits in a single year.

 

[Triggerhappy007]

According to multiple other threads, you can get two or more $7,500 Federal tax credits in a single year.

You might want to add, "if you have enough tax liability".

 

[IgorKl]

I would ask this question when you have GT actually built.
1. You would get actual quote from vroom, carvana and etc.
2. You would see actual situation with tax credit for GT.

I'm in very similar situation, but according to Ford my GT is built and shipped to dealer. So right now I'm trying to sell my CaliRoute 1 and waiting for delivery.

 

[Pushrods&Capacitors]

Friends: I recently took delivery of a 2022 MME Premium ER RWD on a 48-month Ford Options contract. I paid MSRP on an abandoned special order, which was $56,440.

I have a GT on order which should arrive sometime late this year at the same dealership. My question is whether it makes financial sense to trade up? I know some have done that but at what cost? I anticipate the dealer won't mark up the GT when it arrives. Assuming Ford Options financing is still available then, along with the $7,500 Federal tax credit and other incentives, will it make sense to trade-in my MME Premium on the GT? I imagine that I'll have put well under 5,000 miles on my Premium by that time.

Thanks for your advice and counsel.

It’ll probably never make more sense than in the currently bizzaro used car market. There’s a chance you’ll get $5-10K over msrp on your Premium - right now Driveway, Shift and Vroom are offering more than Carvana so check them out. NADA says our 5K mile 4X books out at $62,500 right now and we paid $53K after discounts.

However, the upcoming Fed rate hikes are going to push APR up and thus, prices and demand down. How much? Who knows? Also, EV values in general may stay insulated to a greater extent because of high gas prices. Lots of variables.

 

[ARK]

For a quick, rough calculation add 10% to the MSRP to account for tax, title, registration, and then subtract out the federal tax credit, California tax credit, and the California fuel reward (assuming you qualify to take all three in full, I believe these collectively total $10,250 at the moment). This gets you your net price for your vehicle (not accounting for interest or the fact that you will wait several months to claim your tax credits, etc.)

Doing that math, basically, if you can get $52,000 for your specific Mach-E when it comes time to sell, you would break even (not counting interest you are paying in the mean time until your GT arrives). Anything above that is basically profit.

That should not be too hard to do given the current market. A couple of months ago I was curious and got bids for my SR AWD Premium at just under 5,000 miles and got offers for a few thousand above the $51,440 MSRP on my Mach-E.

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