New 2022 F-150 Lightning Lariat (Standard Range) available today - should I buy and then sell?

[RochesterMN]

I won a raffle to get first rights to a 2022 Ford F-150 Lightning Lariat (Standard Range) for MSRP. It is being delivered today. I don't want a pickup for my everyday vehicle. I'm trying to decide if its worth it to buy it and resell immediately since it appears that the value is so high right now due to the wait list. I'm not sure how that works with rebates and if there are any clauses that I can't sell within a certain period of buying. Is the hassle worth it? Any suggestions or interest. If so, what would be a valid selling price? I'll have to make a decision today or tomorrow. Thanks for any advice.

Sponsored

 

[lancersrock]

honestly i wouldnt if your intent is to flip. if you flip quick then you risk being audited and theres some wording in regards to length of ownership. You have to pay taxes on it ($4000-$5000?) then you sell it for probably close to the 2023 MSRP, the market is cooling and the next owner wont get the tax credit so not much incentive to pay higher than MSRP used. Just my opinion but i dont think the hassle is worth the few thousands you might make.

 

[Kev12345]

you could be a good dude and offer it to someone on the forum that's been waiting. i'm sure someone in your area would even give you a few bucks for the trouble. saves you from the hassle of paying tax and resale. plus good karma.

 

[BennyTheBeaver]

Either buy it to keep, or pass on it.

 

[FordEVTruck]

Karma.

 

[FordLightningMan]

Even though I'm notoriously anti-flipper, I'll be nice today.

Do you have a buyer lined up? Is any potential risk something goes wrong with the sale worth the amount of money you'll make after taxes?

Lariat SR is likely one of the less desirable trims for flipping. It's neither the cheapest one where people could still see value with an added $10k markup, or the most expensive one for people who need the best at any cost.

I personally come from a high tax state so flipping is less lucrative than other areas, but it just doesn't seem like it's worth the headache for a few thousand dollars after taxes.

 

[RochesterMN]

Good advise. I just came got back from the dealership and they said that the wait list is even up to 3 years. He said that they had the raffle at the national Electric Vehicle event hoping that whomever won would buy it versus reselling, but their dealership didn't have a clause on reselling within a time period. I live in the midwest and while it looks like it would be a pretty large profit, I think I should let the next person on the list get their vehicle and enjoy the rebate. It'll be hard to walk away from probably 10K instant profit plus the 7500 rebate.

 

[FordLightningMan]

Good advise. I just came got back from the dealership and they said that the wait list is even up to 3 years. He said that they had the raffle at the national Electric Vehicle event hoping that whomever won would buy it versus reselling, but their dealership didn't have a clause on reselling within a time period. I live in the midwest and while it looks like it would be a pretty large profit, I think I should let the next person on the list get their vehicle and enjoy the rebate. It'll be hard to walk away from probably 10K instant profit plus the 7500 rebate.

There's some debate on the forum whether or not a flipper is eligible for the tax rebate, with most people leaning towards not being eligible. I'm not a tax professional, but I'd be careful in considering that $7,500 as profit on an immediate flip.

 

[BennyTheBeaver]

Good advise. I just came got back from the dealership and they said that the wait list is even up to 3 years. He said that they had the raffle at the national Electric Vehicle event hoping that whomever won would buy it versus reselling, but their dealership didn't have a clause on reselling within a time period. I live in the midwest and while it looks like it would be a pretty large profit, I think I should let the next person on the list get their vehicle and enjoy the rebate. It'll be hard to walk away from probably 10K instant profit plus the 7500 rebate.

Good luck. You will notice most are not selling for crazy amounts anymore. Especially the model you have access to.

Your potential buyer also will want to pay less because they get no rebate. By the time you deal with the taxes, selling fees, DMV and a dwindling profit margin...you will probably regret trying to flip it.

 

[hturnerfamily]

If YOU don't follow thru with the purchase and flip it, then the DEALER will be 'flipping' it.... regardless, to make yourself feel better: buy it, don't take the EV Tax Credit, and let the next buyer will be happy to get a 'slightly' higher-cost Lariat, but an immediate purchase.
No one says that you HAVE to take a tax credit.

 

[Kev12345]

Where do you live? Can you offer up the initial sale from the dealer to someone else? Why don’t you make a post on here and offer it up to someone local? I’d hand you $1000 for your troubles if I could purchase it from the dealer at MSRP.

 

[RochesterMN]

If YOU don't follow thru with the purchase and flip it, then the DEALER will be 'flipping' it.... regardless, to make yourself feel better: buy it, don't take the EV Tax Credit, and let the next buyer will be happy to get a 'slightly' higher-cost Lariat, but an immediate purchase.
No one says that you HAVE to take a tax credit.

Probably true. The same dealer has the same used one available (but with sunroof and extended battery) for $99K. I bet if I don't buy it, then they'll sell it for around $89K. If I don't take the rebate on the vehicle, then the next person is allowed to take the rebate or its just lost? I guess I would have to look it up. I don't think I should get it, but now I don't want the next person to get overcharged by the dealer.

 

[RochesterMN]

Where do you live? Can you offer up the initial sale from the dealer to someone else? Why don’t you make a post on here and offer it up to someone local? I’d hand you $1000 for your troubles if I could purchase it from the dealer at MSRP.

I live in Rochester Minnesota

 

[Pioneer74]

The next person isn't your concern. You can't watch out for everybody, just yourself.

There is no guarantee that you will get a big profit flipping it right now. I barely got out of my 2021 lease with a little extra cash because demand is really softening right now. Unless you have cash on hand, you will have to finance it and you will lose a little there. You are in line for the tax credit, but you will have to weigh if the benefit is worth the time and investment to you.

You say you don't want a pickup for your everyday vehicle, but my wife once said that she wouldn't want to drive my truck. Then she did and now she wants to drive it every day. Maybe buy it, give it a shot as a daily driver, and if it doesn't work for you, you could probably get out of it with a little extra money and the rebate next year.

Good luck.

 

[RochesterMN]

The next person isn't your concern. You can't watch out for everybody, just yourself.

There is no guarantee that you will get a big profit flipping it right now. I barely got out of my 2021 lease with a little extra cash because demand is really softening right now. Unless you have cash on hand, you will have to finance it and you will lose a little there. You are in line for the tax credit, but you will have to weigh if the benefit is worth the time and investment to you.

You say you don't want a pickup for your everyday vehicle, but my wife once said that she wouldn't want to drive my truck. Then she did and now she wants to drive it every day. Maybe buy it, give it a shot as a daily driver, and if it doesn't work for you, you could probably get out of it with a little extra money and the rebate next year.

Good luck.

Its probably more comfortable and reliable than my 1977 Ford F-150
I need a vehicle in 1 month anyways. I was looking at a car to replace my other car for my daily driver, but the truck would be nice to be higher and avoid the freakin headlights in the eyes and inexpensive to go on trips. I often drive to Kansas City, but there were like 6 stops and would take an extra 2hr 45 minutes, turning my 6.5hr trip into over 9 hours. Plus my friends that have EV say that they only get 2/3 and even down to half mileage out of the battery when its below 0 (which is a guarantee to be many days where I live).

Sponsored