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Biggest Downfall of Being Pushed to MY23

pa-outdoorsman

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So, it is now obvious many of us who are not yet scheduled will be pushed to MY23. With that said, I'd like to start a discussion on the various downsides associated with further delay. Here is my list, in order:

1. FINANCING COST: While many seem worried about price protection in the truck I'm more concerned about losing the protected financing rates from Ford Credit. I was planning to use the 1.9% for 60 months to finance a significant portion of my purchase. If that goes away and current loan rates are 4% or 5% at the time the truck shows up that could represent a significant price increase over the life of the life of the loan.

2. TRUCK COST: Obviously MY23 prices for trucks and options will be higher. The question is how much? And will Ford fully protect existing order holders on the truck AND all options? If not expect a 5-10% increase in your MSRP.

3. COST OF WAITING: I know we all love waiting for our Mavericks. Let's face it; misery loves company and we are in great company here! But aside from the mental and emotional toll of riding out an additional 6-18 months for your truck, there are real financial considerations here. How much trade value will you lose on your current ride? How much is it going to cost you in repairs to keep it on the road?

I realize there are some potential benefits of getting a MY23, such as possible new colors/options being available and technical glitches being resolved. But on balance I'd much rather just get my truck sooner than later, at the price and interest rate I planned.

What say you?
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raymaines

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Last September my Tacoma was stolen and totaled, so my wife and I have been to one car for nine months and counting. One car isn't too big a deal, but being down to ZERO trucks is a huge inconvenience, so by far, the biggest downside to being pushed back to MY23 for me is the lack of a big square box to put dirty, stinky, messy stuff in. If I already had a Maverick and our RAV4 got stolen, I don't think we would ever replace it, but I just can't do without a truck.
 

skadizzle

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The trade-in value is what I'm worried most. I'm making payments so as mentioned above, the more we pay, the less we owe and theoretically the more we get. I've been avoiding miles as much as possible, but the used car bubble can burst at any moment. When I ordered my Maverick, my 2018 Rav4 was worth more than I paid for it 4 years ago. I'm still about $11k in profit off of it, but I'm counting on it to keep my Maverick car payment low. If the value tanks, I'm screwed. Not to mention if the interest rates go up.
 

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WatchYourSix

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Trade in value and the wait are the worst. Ford will most likely honor financing rates and price protection if you met the MY22 cutoff and end up pushed to MY23. When your truck is finally delivered, try getting a quote for from PenFed. They were offering me 0.9% a few months ago, better than any other lender. While I realize things have changed since then, they might do better than 1.9%. Worth a shot.
 

BILLNOROVILLE

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I ordered my Maverick in September with a check for 500.00. I also went back to dealer about the end of September because 1.9 financing was ending on 10/4. I asked if I could lock that in ahead of getting my truck. He said he would check and get back to me. He texted me the NEXT day. Not only did he lock me in at 1.9% he was then able to give me a production build date AND a vin number. 97 days later I had my truck at MSRP. I simply asked questions face to face and was given answers.

While waiting I did use my wife's car more. I also was loaned a 2005 Honda Civic a relative was not using that had some problems but ran just ok . In return, I detailed the Civic. Did all the repairs and she got a whopping 6600 for it.
 

yakefu

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As I post in the other post. The downside is that we may get our 2022 model in 2023 if our trucks will be scheduled on the last day. Both the new car is losing 1-year value. And the old car for trade-in is losing another year of value as well. For us, it's a loss-loss situation.
 

Trucklet

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On the flipside, one concern I have about the 2022's assuming you don't get pushed, is that you've essentially waited until the 2023 model year for your new truck. If you ever go to sell it later, the used car market (cooled off by that point, hopefully...) will price it as a 2022 when in reality you owned it for a full calendar year less than implied. While I try to keep my vehicles 10+ years, many people are flipping at 5 years which means you didn't even own it for 20% of the time you should have.
 

Dun4791

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If a frog had wings, he wouldn’t bump his ass every time he jumped.
 
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Bj517

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The plus side for us is the longer the wait, the less we will owe on our present car, thus higher trade-in.
Yeah but obviously the loan balance isn't just magically going down - you're pumping your cash into what's normally a depreciating asset.

If/when the used car market gets back to normal, paying off a depreciating asset while you wait for your Maverick is a losing situation financially.
 

wardamntexas

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I'm driving a 91 Dakota with 235k and mismatched tires, biggest downside of getting rolled would be not getting it before deer season!
 

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So, it is now obvious many of us who are not yet scheduled will be pushed to MY23. With that said, I'd like to start a discussion on the various downsides associated with further delay. Here is my list, in order:

1. FINANCING COST:
My Answer: We plan on paying it off from savings and paying savings back unless we can get 0%.

2. TRUCK COST:
My Answer: I would think since I have a signed contract for a 2022 at the agreed upon price for them to up it would be illegal since it is their fault they were unable to deliver as per contract. (would they be guilty of breach of contract? Legal minds out there???)

3. COST OF WAITING:
My Answer: We already traded our car in, a 2020 CRV that we got more on trade in than the car cost new!


What say you?
 

Criss944

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2005 Silverado airbag warning light came on during the wait. What else will break?
 

Maverick2023

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So, it is now obvious many of us who are not yet scheduled will be pushed to MY23. With that said, I'd like to start a discussion on the various downsides associated with further delay. Here is my list, in order:

1. FINANCING COST: While many seem worried about price protection in the truck I'm more concerned about losing the protected financing rates from Ford Credit. I was planning to use the 1.9% for 60 months to finance a significant portion of my purchase. If that goes away and current loan rates are 4% or 5% at the time the truck shows up that could represent a significant price increase over the life of the life of the loan.

2. TRUCK COST: Obviously MY23 prices for trucks and options will be higher. The question is how much? And will Ford fully protect existing order holders on the truck AND all options? If not expect a 5-10% increase in your MSRP.

3. COST OF WAITING: I know we all love waiting for our Mavericks. Let's face it; misery loves company and we are in great company here! But aside from the mental and emotional toll of riding out an additional 6-18 months for your truck, there are real financial considerations here. How much trade value will you lose on your current ride? How much is it going to cost you in repairs to keep it on the road?

I realize there are some potential benefits of getting a MY23, such as possible new colors/options being available and technical glitches being resolved. But on balance I'd much rather just get my truck sooner than later, at the price and interest rate I planned.

What say you?
There’s nothing you can do for all the above. This is like gambling and sometimes you win and there are times you lose. It doesn’t make a difference to me. I’ll just won’t buy anything from Ford again. This will be my first and also my last.
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