i need serious help on this decision

[Grease Lightning]

thats tough y did u pay so much for xlt though the lariat would be cheape with the trade in

Maybe you missed the 18 months part. At that time there were very few incentives. The lariat's were over the $80k to qualify for the tax credit, even after they dropped in price just a month prior. The lariats have that lame vertical screen and no buttons and I love being able to have a few buttons over having to always touch my screen….and at the time there was none on a lot so I had like 3 to choose from in 250 miles.

Sponsored

 

[Grease Lightning]

but msrp is 72 sticker

So yours is basically at the same sticker as mine, yet mine was too much?

 

[Jmendozanunez]

0% is a must and make sure you qualify for 7500incentive ....and forget about the total LOL . lightning is way more comfortable in my opinion... After getting lightning I regret the mach e from the jump

 

[nolavet504]

0% is a must and make sure you qualify for 7500incentive ....and forget about the total LOL . lightning is way more comfortable in my opinion... After getting lightning I regret the mach e from the jump

all im really saying i also wish i had got lightning first

 

[Daragh]

To each their own, but this is exactly the problem in general for consumers in the US! Too many people are buying items on credit they really can't afford. They were lured in by slick marketing and the infamous monthly payment rather than looking at total cost of ownership which includes depreciation.

Buying anything on credit is a calculated decision but if you don't put the research in up front it can and will bite you in the a$$.

In a nutshell my belief is that you should not sell your Mach-E until its no longer upside-down at the earliest! Even then maybe look at its value compared to what a new vehicle for you (new or used) would cost. Is it really worth it to have the shiny new toy if you're vehicle rich but disposable income poor? For me this is a categorical no!

Best of luck with your decision!

 

[nolavet504]

To each their own, but this is exactly the problem in general for consumers in the US! Too many people are buying items on credit they really can't afford. They were lured in by slick marketing and the infamous monthly payment rather than looking at total cost of ownership which includes depreciation.

Buying anything on credit is a calculated decision but if you don't put the research in up front it can and will bite you in the a$$.

In a nutshell my belief is that you should not sell your Mach-E until its no longer upside-down at the earliest! Even then maybe look at its value compared to what a new vehicle for you (new or used) would cost. Is it really worth it to have the shiny new toy if you're vehicle rich but disposable income poor? For me this is a categorical no!

Best of luck with your decision!

I’m not broke, and I can afford whatever I choose to go after. I’m currently at 0% interest, and even with carrying the debt, it will remain at 0%. My main concern is the long-term value of the Ford Lightning. Whether or not it's at 0%, I’m thinking that in a couple of years, it could be worth $20K less, and that’s something I don’t want to deal with.
For context, I owe $45K on my Mach-E, which I paid $49K for out the door (still under MSRP, and I’ve had it for a few months at 0% interest). If I sell the car privately, I’ll probably do better than trade-in values, but I’m open to options. I just want to make sure I'm making the right decision on what I buy next.

 

[Daragh]

I’m not broke, and I can afford whatever I choose to go after. I’m currently at 0% interest, and even with carrying the debt, it will remain at 0%. My main concern is the long-term value of the Ford Lightning. Whether or not it's at 0%, I’m thinking that in a couple of years, it could be worth $20K less, and that’s something I don’t want to deal with.
For context, I owe $45K on my Mach-E, which I paid $49K for out the door (still under MSRP, and I’ve had it for a few months at 0% interest). If I sell the car privately, I’ll probably do better than trade-in values, but I’m open to options. I just want to make sure I'm making the right decision on what I buy next.

Dude seriously? You paid $49k and owe $45K on a car? We obviously have different definitions of broke. You're already answering your own question, you should not sell your car but your looking for others to talk you into it being a good/ok thing to do.

0% interest is irrelevant if your trying to get out of the loan, its amortized its not lumped!

But as I said to each their own and its 100% your decision.

 

[Newton]

It doesn’t make sense to buy an car and then sell soon. There is really no such thing as negative equity because there is really no such thing as equity in a car. A brand new car is a completely different experience from a used car, and that is what you have paid for - it might be more than you expected but except for a rare period during a global pandemic, cars neither increase nor hold their value. Some cars lose value faster than others but unlike houses, they all lose a significant amount simply by virtue of being used. By (extreme) analogy, someone would pay a lot for a meal at a four star restaurant but nobody is going to pay anything for your leftovers. Your meal has not depreciated…

That aside, I love our truck but unless I actually needed the bed (which I do) I would not buy an EV truck and especially not the Lightning. If you need more space for your family the EV9 (for example) is a much more efficient (fewer charging stops) and better EV for less money. It charges twice as fast. The Lightning is getting to be pretty old technology by EV standards - charging my 800 volt EV6 is a quick pit stop, charging my 400V Lightning is a walk around Wallmart for a while stop. If you can get one at a good price it would be worth it if you needed a truck but they want you to pay through the nose for it and at this point the value is not there.

In general as an owner of many trucks and cars, if you don’t need a truck then don’t get one. They are inferior vehicles to cars in almost every respect (flame suit on) from handling to efficiency to parking, and IMO modern trucks kind of suck at the “carrying stuff in the bed” part because they are so darn tall. I think the huge trucks parked in the driveways of quarter acre urban homes are ridiculous.

 

[nolavet504]

Dude seriously? You paid $49k and owe $45K on a car? We obviously have different definitions of broke. You're already answering your own question, you should not sell your car but your looking for others to talk you into it being a good/ok thing to do.

0% interest is irrelevant if your trying to get out of the loan, its amortized its not lumped!

But as I said to each their own and its 100% your decision.

I don’t care about the monthly. What don’t you understand. I rather let my money sit and grow then dumping it on a car that’s what 0% is for.

 

[nolavet504]

It doesn’t make sense to buy an car and then sell soon. There is really no such thing as negative equity because there is really no such thing as equity in a car. A brand new car is a completely different experience from a used car, and that is what you have paid for - it might be more than you expected but except for a rare period during a global pandemic, cars neither increase nor hold their value. Some cars lose value faster than others but unlike houses, they all lose a significant amount simply by virtue of being used. By (extreme) analogy, someone would pay a lot for a meal at a four star restaurant but nobody is going to pay anything for your leftovers. Your meal has not depreciated…

That aside, I love our truck but unless I actually needed the bed (which I do) I would not buy an EV truck and especially not the Lightning. If you need more space for your family the EV9 (for example) is a much more efficient (fewer charging stops) and better EV for less money. It charges twice as fast. The Lightning is getting to be pretty old technology by EV standards - charging my 800 volt EV6 is a quick pit stop, charging my 400V Lightning is a walk around Wallmart for a while stop. If you can get one at a good price it would be worth it if you needed a truck but they want you to pay through the nose for it and at this point the value is not there.

In general as an owner of many trucks and cars, if you don’t need a truck then don’t get one. They are inferior vehicles to cars in almost every respect (flame suit on) from handling to efficiency to parking, and IMO modern trucks kind of suck at the “carrying stuff in the bed” part because they are so darn tall. I think the huge trucks parked in the driveways of quarter acre urban homes are ridiculous.

I’m keeping my car u cleared that up for me and your right. It’s better choices just charging wise. I already have the lightning tech n my Mach e with same features. Make no sense to jump in debt for same build. Now this statement I fully respect and appreciate.

 

[MotoGary]

if you don’t need a truck then don’t get one. They are inferior vehicles to cars in almost every respect (flame suit on) from handling to efficiency to parking, and IMO modern trucks kind of suck at the “carrying stuff in the bed” part because they are so darn tall. I think the huge trucks parked in the driveways of quarter acre urban homes are ridiculous.

I'm tempted to take the bait on this one...but since it's off topic, I won't.

 

[Deleted member 20178]

Have you getting offers from carmax, carvana, etc? Trading in wont be the best. I would consider selling it and leasing the lightning. I have a feeling the refresh lightnings are gonna try to beat GM’s ev truck range. I wouldnt be surprised if it goes 500+ range

 

[Daragh]

I don’t care about the monthly. What don’t you understand. I rather let my money sit and grow then dumping it on a car that’s what 0% is for.

If that's the case then sell it and let the returns on the $45k you've invested cover the $10k loss based on your logic. Doesn't make sense to me but again your call.

 

[StevenC56]

It doesn’t make sense to buy an car and then sell soon. There is really no such thing as negative equity because there is really no such thing as equity in a car. A brand new car is a completely different experience from a used car, and that is what you have paid for - it might be more than you expected but except for a rare period during a global pandemic, cars neither increase nor hold their value. Some cars lose value faster than others but unlike houses, they all lose a significant amount simply by virtue of being used. By (extreme) analogy, someone would pay a lot for a meal at a four star restaurant but nobody is going to pay anything for your leftovers. Your meal has not depreciated…

That aside, I love our truck but unless I actually needed the bed (which I do) I would not buy an EV truck and especially not the Lightning. If you need more space for your family the EV9 (for example) is a much more efficient (fewer charging stops) and better EV for less money. It charges twice as fast. The Lightning is getting to be pretty old technology by EV standards - charging my 800 volt EV6 is a quick pit stop, charging my 400V Lightning is a walk around Wallmart for a while stop. If you can get one at a good price it would be worth it if you needed a truck but they want you to pay through the nose for it and at this point the value is not there.

In general as an owner of many trucks and cars, if you don’t need a truck then don’t get one. They are inferior vehicles to cars in almost every respect (flame suit on) from handling to efficiency to parking, and IMO modern trucks kind of suck at the “carrying stuff in the bed” part because they are so darn tall. I think the huge trucks parked in the driveways of quarter acre urban homes are ridiculous.

You are so far off! Trucks are the best even if you never use the bed. (Sorry-Couldn't resist since you put your flame suit on)

 

[Deleted member 20419]

I wouldn’t advise doing this but if you’re dead set on it, buy a used one. Rolling negative equity into a new vehicle that will depreciate into more negative equity is a bad idea. You’ll deaden some of that with a used one.

Sponsored