General

Topic Ford - Powerboost or Lightning

MrBean

* 5-Aug-2022(#1)

I'm torn on what to do and have to make a decision quickly.

So I reserved a Lightning (on day 3) and didn't make the cut this year. So I caved, and put in for a 2022 Powerboost (Limited) about 5 months ago (with a Z plan - that is not a guarantee to be available to me next year). Just got notified that it'll be assembled near end of September (after 5 months of zero communication).

My lease was up 8 months ago (2018 Platinum with 44k miles - should end around 8k or more miles under lease); however, I kept extending monthly in waiting to trade in towards next one.

I'm sure I probably should have simply bought out the lease and sold open market (still can); however, with the fee's and hassle of buying then selling ... I was/am naively optimistic that my dealership will get me close enough to close the gap between private and trade-in with all the fee's managed. My dealership told me typically, that open market only makes sense if you can make > 7% of cost to cover all the fee's/tax/etc. when buying out the lease.

KBB is saying I should be somewhere between $42k to $50k for the value of my truck, yet I just tried out Carvana & Vroom and they both offered me $38k --- not great leverage to show the dealership!

I'm stuck in debate, and I have to crap or get of the pot really soon. A few questions/points:
- Do I wait out the Lightning and skip the Powerboost? The cost of gas seems to be coming down relatively quick, hope/assume it will continue to decline, but who knows!
- First gen of Ford's EV seems to be going well ... but 300 miles max, leaves for some anxiety (even though there's a ton of charging stations out there now), and you know their next gen they'll probably have a much longer distance.
- That damn Frunk, man I want that ... grocery shopping with kids/dogs in a truck, pain in the ass.
- No timeline as of now on when the '23 Lightning will even be available.
- Do I buy out my current lease and attempt to sell open market?
- I'm nervous about the payment on a Limited If I don't get a good offer on trade-in, probably overdid it here but got excited having a Z plan for the first time

Thanks for any/all feedback

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MrBean

15-Feb-2023(#121)

Feeb wrote:

> My problem (ironically) is that I will be a cash buyer. They’ll need to mark up to

> earn anything without the financing. I guess I need to keep that in the bag until

> I can get a verbal. The used market here is a joke- they’re asking 60%-70% new value

> for vehicles with over 100k miles. Definitely new is the best way to go unless you

> buy direct from a private owner.

Oh absolutely, don't even bring that up until you've negotiated the price.

Whatchya on the market for?

Feeb

* 15-Feb-2023(#122)

MrBean wrote:

> Feeb wrote:

>> My problem (ironically) is that I will be a cash buyer. They’ll need to mark up

> to

>> earn anything without the financing. I guess I need to keep that in the bag until

>> I can get a verbal. The used market here is a joke- they’re asking 60%-70% new

> value

>> for vehicles with over 100k miles. Definitely new is the best way to go unless

> you

>> buy direct from a private owner.

> Oh absolutely, don't even bring that up until you've negotiated the price.

> Whatchya on the market for?

We need 7-8 passenger. Wife is sold hard on a palisade. I’m doing lots of research. Only negatives I see with it are outdated engine and drive train. Otherwise it’s definitely top in class. After that the money gets a little nuts for not much more performance / reliability. I think it’s too early to invest in electric or hybrid with costs of the station / electricity per month for a savings of 5-6k$ over 5 years - not including the increased price of the vehicle. Not enticing with no tax incentives here.

sinnie

15-Feb-2023(#123)

Palisade was super nice and had lots of unique features. I decided not to buy one because they were marking them up, plus all the theft issues. Ultimately I wanted something that looked more badass but lost out on the 3rd row I needed. Oh well.

Staraang

16-Feb-2023(#124)

Feeb wrote:

> My problem (ironically) is that I will be a cash buyer. They’ll need to mark up to

> earn anything without the financing. I guess I need to keep that in the bag until

> I can get a verbal. The used market here is a joke- they’re asking 60%-70% new value

> for vehicles with over 100k miles. Definitely new is the best way to go unless you

> buy direct from a private owner.

One thing you could try is commit to financing with the dealer but only if there is a no-penalty provision for prepayment. This way you can bargain on price since there is the prospect of making money on financing for the dealer. You go through with financing but prepay right after you take delivery of the vehicle.

Porksta

16-Feb-2023(#125)

You may have to make at least one payment before paying it off.

Bishop

17-Feb-2023(#126)

Staraang wrote:

> Feeb wrote:

>> My problem (ironically) is that I will be a cash buyer. They’ll need to mark up

> to

>> earn anything without the financing. I guess I need to keep that in the bag until

>> I can get a verbal. The used market here is a joke- they’re asking 60%-70% new

> value

>> for vehicles with over 100k miles. Definitely new is the best way to go unless

> you

>> buy direct from a private owner.

> One thing you could try is commit to financing with the dealer but only if there

> is a no-penalty provision for prepayment. This way you can bargain on price since

> there is the prospect of making money on financing for the dealer. You go through

> with financing but prepay right after you take delivery of the vehicle.

Always agree on a price before even talking payment.

Staraang

17-Feb-2023(#127)

I’m just saying that if a dealer knows that you’re financing through them they’d be more inclined to give you a break on the price rather than if you’re paying cash.

Feeb

* 11-Mar-2023(#128)

Having cash on hand was huge at dealership. Wife decided on Kia telluride and I was able to get for about 1k over invoice (word on street of course) and upgrade to a better trim because they gave us stupid money for her beat up Outback 2012. Coming out about 10k better than the palisade and honestly I think it’s a much better vehicle overall. She went with a pretty niche color- wolf gray- but it’s pretty sharp looking. FYI they said there is absolutely no benefit to them as a dealership to let cash walk out the door. For the company as a whole financing is pushed- dealer is better off with the actual swipe being higher after invoice. They’re shady AF of course but that’s the word.