Used premium price too good to be true?

[mollywoo]

Hi everyone! I’ve been doing a lot of research on trading up to a MME. I currently have had two mustangs and would be selling my current one to upgrade.

I’ve been keeping my eye out on cars.com and a Premium dropped from 42.9k to 36k overnight. I immediately asked for more info and have an offer standing, just waiting for my finance today to be ready.

It’s my dream color so I was excited about it. However, obviously slashing the price that low has major concerns. It has almost 24k miles, was a rental vehicle for the first 2k miles then a personal. So 2 owners. The second owner had two accidents in 2021. Nothing structural reported, looks like both wear rear bumper damages and fixed. They sold the car a year later after 20k miles so I am assuming the accidents weren’t bad. The online photos show no damage

second major concern is I’d be shipping it to a new state, 8 hours away since it wasn’t close to me. I won’t be able to see it unti

It is RWD, but honestly I’ve only ever had rear wheel. I live in a coastal town with almost no snow in the winter and don’t need to commute to work in bad weather conditions. I did test drive an AWD select and was totally not used to the way an AWD drives but loved it other wise

Sooo, did I stumble on a good deal or is it priced low for above mentioned reasons. I knew it would be lower, just not that low. Lemon/bay back MMEs in my area are 2-5k more expensive that this and this has a clean title.

Thank you in advance for helping a girl be a lot less nervous or fooled by a car purchase!

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[Rabidsquirrel22]

If you have a link to the listing, that would be helpful. Looking at pictures would be very helpful in trying to figure out if anything is off.

 

[SpaceEVDriver]

It looks like a good (not great) deal to me. However, the new Mustang is only the second vehicle (the other was a new Tacoma) I've ever purchased without looking at and driving the exact vehicle before making a commitment to purchase. Some things can be hidden from the CarFax reports, so be prepared for a few possible disappointments.

I depreciate vehicles like so:
If there was a tax credit, I drop 80-100% of the credit from the value.
Used = 10-20% drop off of the new value.
Near to the warranty period end means drop another 10-20% off the depreciated value, depending on mileage.
Accident on the record means another drop of 10-50% depending on the nature.

That car started at $53k.
Tax credit: 53-0.8*7.5 = 47
Used: 0.9*47 = 42
Warranty: 0.9*42 = 37.8
Accident: 0.9*37.8 = 34

A selling price of $36k cost looks reasonable given all the variables that my model doesn't account for.

 

[flapjake314]

wasn't the MSRP of this car (2021 premium RWD, presumably SR) around 52k? less rebate it'd be around 44k, it's got 24k miles on it so about 1/3 through the battery warranty, coming up on the end of 3Y warranty too, has some dings and history, tesla has dropped prices...

all this to say 42k sounded like a lot but 36k doesn't sound insanely low, decent price overall if that's what you're looking for and the accidents truly were small?

 

[Mopey]

I just sold my second Mach E in Seattle. It was an 2021 FE Premium, low miles (7,200), with no damage. Caravana quote was $30,000, and Carmax quote was $39,000. I sold it to a local Ford dealer for $46,000. The online resellers all have excess inventory, much of which they overpaid for. The Ford dealer said he'd have no problem with a quick resell.

 

[MachKet]

Doesn’t really seem like a good deal especially since it has 2 accidents. I’d keep searching especially since you’d have to ship it.

 

[mollywoo]

It looks like a good (not great) deal to me. However, the new Mustang is only the second vehicle (the other was a new Tacoma) I've ever purchased without looking at and driving the exact vehicle before making a commitment to purchase. Some things can be hidden from the CarFax reports, so be prepared for a few possible disappointments.

I depreciate vehicles like so:
If there was a tax credit, I drop 80-100% of the credit from the value.
Used = 10-20% drop off of the new value.
Near to the warranty period end means drop another 10-20% off the depreciated value, depending on mileage.
Accident on the record means another drop of 10-50% depending on the nature.

That car started at $53k.
Tax credit: 53-0.8*7.5 = 47
Used: 0.9*47 = 42
Warranty: 0.9*42 = 37.8
Accident: 0.9*37.8 = 34

A selling price of $36k cost looks reasonable given all the variables that my model doesn't account for.

Thank you for going so in-depth about the vehicle Value! I didn’t think about the rebate part

I did purchase an autocheck which revealed the 2nd accident vs the Carfax only showing the 1. I am wanting to ask them about the second accident today to see if there’s any wiggle room on pricing, or just fee dropping to compensate the purchase but at 36 and no other premium model being close to that price was the only reason I was debating. I honestly didn’t want to go above 40k out the door so it checked the bill there

 

[mollywoo]

wasn't the MSRP of this car (2021 premium RWD, presumably SR) around 52k? less rebate it'd be around 44k, it's got 24k miles on it so about 1/3 through the battery warranty, coming up on the end of 3Y warranty too, has some dings and history, tesla has dropped prices...

all this to say 42k sounded like a lot but 36k doesn't sound insanely low, decent price overall if that's what you're looking for and the accidents truly were small?

Thank you!

I guess compared to current prices I was considering it to be a deal since all other premiums within 500 miles are above my budget of 40 out the door or lemon titled.

My local dealership has a new premium for 63k so I was unsure if the used prices for the MMEs would sky rocket to compensate or lower because of the Tesla price cut

I don’t need a new car but I would rather sell my current before it hits 2024 since it’s a 2014

 

[SpaceEVDriver]

Thank you for going so in-depth about the vehicle Value! I didn’t think about the rebate part

I did purchase an autocheck which revealed the 2nd accident vs the Carfax only showing the 1. I am wanting to ask them about the second accident today to see if there’s any wiggle room on pricing, or just fee dropping to compensate the purchase but at 36 and no other premium model being close to that price was the only reason I was debating. I honestly didn’t want to go above 40k out the door so it checked the bill there

A hidden accident is a huge red flag.

Unless you're in a hurry for a good reason, you might want to wait. Used prices are more likely to go down than to go up.

 

[GreaseMonkey]

Accidents for vehicles priced in the mid to high thirties are also a major problem for resale. I had an Acura MDX with a fender bender that lost ~$4,000 in value and was a very tough sell. I had to sell it to vroom to get rid of it as buyers would lose interest right away as soon as I disclose the accident, regardless how minor it was.

 

[MacherAWD]

One other note with a 2021, if it is a Job 1 (cant recall the exact timing) it may be a bit of work to get BlueCruise working in it. I would also be curious if it has the new UI for software, the camera icon in the Top left. Those 2 items might require a trip to the dealer or 2 to get going, so you may want to ask them to verify those items, and if not working then ask them to update. BC will probably not work until you activate your account, but if the previous owner also never had it working there could be an issue.

I have a 2021 Job 2 so all of that has worked from the factory without issue. Personally it sounds like a decent deal. I am in New England and there are a number of MMEs under 40k, a few are premiums closer to 39k, but even a select with comfort and tech will have most of the premium features and is a few thousand cheaper.

 

[mollywoo]

A hidden accident is a huge red flag.

Unless you're in a hurry for a good reason, you might want to wait. Used prices are more likely to go down than to go up.

More so not showing on Carfax but it’s on auto check. They used the auto check to sell it on true car but have the Carfax with just the one on their website and most other sites

I guess if I went to resell it in 4-5 years it would pretty much be bottom dollar?

 

[azerik]

It's been wrecked twice, just pass.

 

[mollywoo]

One other note with a 2021, if it is a Job 1 (cant recall the exact timing) it may be a bit of work to get BlueCruise working in it. I would also be curious if it has the new UI for software, the camera icon in the Top left. Those 2 items might require a trip to the dealer or 2 to get going, so you may want to ask them to verify those items, and if not working then ask them to update. BC will probably not work until you activate your account, but if the previous owner also never had it working there could be an issue.

I have a 2021 Job 2 so all of that has worked from the factory without issue. Personally it sounds like a decent deal. I am in New England and there are a number of MMEs under 40k, a few are premiums closer to 39k, but even a select with comfort and tech will have most of the premium features and is a few thousand cheaper.

Thank you I’ll have to ask about that!

it looks like it was made late January of 2021
There is an upgrade select that I test drove and liked! It’s the same price however. I was debating it but really loved the moonroof option on the premium. I don’t need it but it really stands out

 

[MacherAWD]

Thank you I’ll have to ask about that!

it looks like it was made late January of 2021
There is an upgrade select that I test drove and liked! It’s the same price however. I was debating it but really loved the moonroof option on the premium. I don’t need it but it really stands out

I had never been within 50ft of any Mach-E when I bought, and didnt have time to do much research or any test drives. But after 1 year of ownership the only option I would prefer to have is the big glass roof, it is cool.

A late Jan 21 is a Job 1, they do tend to have a few more software issues, they also do not have frunk opener on phone or available on touchscreen, you have to use the pull handle like a traditional hood release. Just something to note if you were very excited about showing that feature off, or if you plan to put groceries in it a lot.

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