Unsure on my next move...

[dbeth]

Base setup: I'm coming up on the end of my Ford Options Plan this coming May, and am trying to figure out what I'm planning to do with my car. Everything has been fantastic with it, and I just got some new CrossClimate 2 tires for it this past October.

Part of me wants to ride this thing out and keep it and use it to build up equity towards possibly getting a Rivian R3 or R3X in a few years. I truly do love this car.

My other idea is to lease a 2024 or 2025 Mach E GT to take advantage of the MagnaRide and maybe lower payments. I have been paying $500/month and am currently at about 33,500 miles. If I were to lease, I'm guessing I'm at 13,500/year for 39 months. I would forgo the Ford Power Promise Level 2 charger/install and go with the $1000 cash back offer, and according to my dealer I also have an additional $2000 private cash offer.

In my mind, I'm leaning towards making the move if I can keep same or less payments for an upgrade in car level.

Thoughts? Especially if you made the switch from a Premium to a GT. I'm not normally like this with cars; I've settled in and try to get several years out of a car before changing, but the opportunity to upgrade for essentially no cost has me intrigued.

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[phil]

...the opportunity to upgrade for essentially no cost has me intrigued.

I wouldn't say 'no cost'. When you make payments to pay off your current car, you end up owning a car. When you make lease payments on a new car, at the end of the lease period you end up owning nothing.

 

[jksu]

i had a job1 21 premium rwd on options that i bought at the end of the 3 yrs and was planning to keep it long term, waiting for either the rivian r2s or something else to come along. but because i was rear-ended last month, i was left with getting a new car. since none of the current EVs met what i wanted, i stayed with mach-e and got a preowned 2023 gtpe with the insurance money + a few thousand more. magneride is definitely nice and so is the additional power.

i debated leasing a 2024/2025... and maybe should have with the decent lease deals and the option to return in 3yrs. i was tempted by the bmw i4 (less practical but more luxurious) and if the good deal on the GTPE didn't show up, would've probably leased the i4.

but, like you, i tend to keep cars and got a decent deal from a navy guy who had to relocate. it seemed like a no brainer to do an "upgrade" (newer model year, only 16k miles, more power/battery/magneride) for only $3k and no payments.

if i were in your shoes, if you like the mach-e and can switch to a newer model/magneride/etc with the same payments, why not.

if you're interested in just trying something else for 2-3 years, then go for it

 

[dalola]

I think if you want to stay with an MME, then it's wise update your lease if there is minimal cost difference. Otherwise, if you want to try something else, turn it in and start over with your new choice. Good luck!

 

[phil]

i was tempted by the bmw i4...

Me too. If I decide not to buy out my Ford Option later this year, I will consider the i4.

 

[rcechinel]

I just posted this on another thread. I spec'ed out this GT with all bells and whistles today on the website. The only reason I'm not doing it's because my negative equity. Since you got to the end of your Ford Options, you don't have that problem. Either with the Mach-E or with another EV, you would be able to wait 3 years comfortably with a new car until the R3 is launched and go through the first years of bugs.

 

[carbonizedbrett]

I had negative equity in my Mach E at the end of my Options (two Carfax accidents, one of which had zero damage plus bad timing with price price cuts) but are you sure *you* have negative equity?

My total payments for a GV60P lease add up to about what my cost to keep the Mach E would have been.

I framed the cost of this upgrade as "the market value of a 6-year old with 70k miles in 2027.”

So I won't really know the cost in dollars until I check KBB valued in 2.5 years. ?

 

[rcechinel]

I had negative equity in my Mach E at the end of my Options (two Carfax accidents, one of which had zero damage plus bad timing with price price cuts) but are you sure *you* have negative equity?

My total payments for a GV60P lease add up to about what my cost to keep the Mach E would have been.

I framed the cost of this upgrade as "the market value of a 6-year old with 70k miles in 2027.”

So I won't really know the cost in dollars until I check KBB valued in 2.5 years. ?

Yeah, I'm sure. I actually priced deals with a Ford and a Kia dealer. Funny thing is that Ford offered only $21K on my car (they went up to $23K eventually), but Kia offered $25K out of the gate. I owe $39K.

They both offered to roll in the negative equity into a new lease, but I would only go for it if I could keep paying the same as of I am paying, not a dollar more ($943). AND I wanted a big upgrade too (MME GT + performance or EV9 GT-Line all in). I wanted the moon hehehe. Both came between $1,050 and $1,150 per month.

I will probably try again in December. At that time, I will be close to my 48-month term (about 40 payments in).

 

[Maui]

Yeah, I'm sure. I actually priced deals with a Ford and a Kia dealer. Funny thing is that Ford offered only $21K on my car (they went up to $23K eventually), but Kia offered $25K out of the gate. I owe $39K.

They both offered to roll in the negative equity into a new lease, but I would only go for it if I could keep paying the same as of I am paying, not a dollar more ($943). AND I wanted a big upgrade too (MME GT + performance or EV9 GT-Line all in). I wanted the moon hehehe. Both came between $1,050 and $1,150 per month.

I will probably try again in December. At that time, I will be close to my 48-month term (about 40 payments in).

You're paying $943 / month? I don't understand the math here. How did this come about as it seems really high.

 

[benk016]

I did the refinance of the balloon and kept my GT. I'm going to hold off for Ford to announce a new EV or a full refresh of the MME before I move on. There's just nothing out right now, in the price range I want to pay, that is enough to get me to trade in.

 

[rcechinel]

You're paying $943 / month? I don't understand the math here. How did this come about as it seems really high.

2022 prices. 48 month Ford Options with 2.5%, 0 down.

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