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Today, Ford announced lower than expected stock returns with an almost 8% drop compared to their expected 11.2% gain. Ford's financial expert says this is due to a chip shortage, but it really comes down to the fact Ford cannot move the product to dealers, and customers are not able to purchase their vehicle.
Ford recently stopped taking orders for Mavericks for the remainder of 2022, with orders resuming in late summer for 2023 models. Many of us who placed orders in June - August still await any sign of a build date from Ford or communication from our dealer. The semiconductor shortage was already a high priority for auto manufacturers before the June roll-out of the Maverick. Ford should have seen the limited ability to build another product in the Mexico plant that was already struggling to build Bronco Sport. Ford made no issue in controlling the on going demand of placing reservations to create a "Beannie Baby" or "Cabbage Patch Doll buying frenzy for a truck touted to be UNDER $20,000. It seems Ford allowed the orders to keep piling up knowing there would be long term delays. It is very sad that a new product as the Hybrid was rolled out in such unfortunate times; but it is very unresponsible for Ford to allow the orders to keep coming in, allowing more and more consumers to become angry and distrustful of the brand and their dealers. No wonder their stock is down.
Now, many order bearers are faced with a choice of waiting for an unknown timeframe in getting their Maverick, buying something else (Which ends in Ford not making a sale at all), or paying whatever a dealer asks. Enter unscrupulous, greedy, used car salesman!
For those who feel the need to purchase a Maverick from a greedy dealer who is marking the vehicle up $3000-7500, which I see in many local dealers, remember your decision will haunt you for a long time.
First, like any new car, your Maverick will depreciate 25% the minute you drive it off the lot. This depreciated amount is related to the MSRP, not your sales price. So, if you paid more than the MSRP, you really got screwed, because you now lost more than the expected depreciation. And if you took a loan out to buy the Maverick you will pay months longer for a car not worth what you owe. Also, any profit you may have made in your trade-in car was just dropped out the window forever due to you paying more than MSRP for your Maverick.
Second, your taxes on the car will always be based, year after year, on your purchase price, so each year you will be punished for paying more than you should have for a vehicle that is nowhere worth what you paid for it.
And third, your insurance will be based on what your car is worth (Kelly Blue Book) as identified from your VIN number. If you paid more than the MSRP, you better have GAP coverage as most insurance will not cover more than what the vehicle is worth.
All around, it is better to wait and pay the agreed upon price than to be bullish and foolish by paying more than retail just to be "the first Maverick on the block." Just my thoughts. Some may offer different opinions, but financially you are not doing yourself any favors by paying for Ford's mistake in tking orders for something they knew they could not produce.
Ford recently stopped taking orders for Mavericks for the remainder of 2022, with orders resuming in late summer for 2023 models. Many of us who placed orders in June - August still await any sign of a build date from Ford or communication from our dealer. The semiconductor shortage was already a high priority for auto manufacturers before the June roll-out of the Maverick. Ford should have seen the limited ability to build another product in the Mexico plant that was already struggling to build Bronco Sport. Ford made no issue in controlling the on going demand of placing reservations to create a "Beannie Baby" or "Cabbage Patch Doll buying frenzy for a truck touted to be UNDER $20,000. It seems Ford allowed the orders to keep piling up knowing there would be long term delays. It is very sad that a new product as the Hybrid was rolled out in such unfortunate times; but it is very unresponsible for Ford to allow the orders to keep coming in, allowing more and more consumers to become angry and distrustful of the brand and their dealers. No wonder their stock is down.
Now, many order bearers are faced with a choice of waiting for an unknown timeframe in getting their Maverick, buying something else (Which ends in Ford not making a sale at all), or paying whatever a dealer asks. Enter unscrupulous, greedy, used car salesman!
For those who feel the need to purchase a Maverick from a greedy dealer who is marking the vehicle up $3000-7500, which I see in many local dealers, remember your decision will haunt you for a long time.
First, like any new car, your Maverick will depreciate 25% the minute you drive it off the lot. This depreciated amount is related to the MSRP, not your sales price. So, if you paid more than the MSRP, you really got screwed, because you now lost more than the expected depreciation. And if you took a loan out to buy the Maverick you will pay months longer for a car not worth what you owe. Also, any profit you may have made in your trade-in car was just dropped out the window forever due to you paying more than MSRP for your Maverick.
Second, your taxes on the car will always be based, year after year, on your purchase price, so each year you will be punished for paying more than you should have for a vehicle that is nowhere worth what you paid for it.
And third, your insurance will be based on what your car is worth (Kelly Blue Book) as identified from your VIN number. If you paid more than the MSRP, you better have GAP coverage as most insurance will not cover more than what the vehicle is worth.
All around, it is better to wait and pay the agreed upon price than to be bullish and foolish by paying more than retail just to be "the first Maverick on the block." Just my thoughts. Some may offer different opinions, but financially you are not doing yourself any favors by paying for Ford's mistake in tking orders for something they knew they could not produce.
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