To flip or not to flip

[1929]

Absolutely buy the Maverick. It's a great investment. Auto values always go up. The market will go up for Tesla also. Decrease in value is a bubble.

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[710-oil-614]

What vehicle do you want/need more? What you paid for the Tesla is sunk. Did you get what you wanted out of owning it?

I can uniquely speak to this situation. While waiting for my Maverick - I bought a 2022 Bronco Base Sasquatch - had issues and sold it for a $14k profit.

This allowed me to step into a 2022 Tesla Model 3 LR for $52,000. I drove it for 14 months and 16k miles and my Tremor came in.

Tesla was only worth $35,000 trade in.

Drove the Tremor, loved it.

Walked out of the dealership with a Tremor and a check for $4k and never looked back. Can't look at it like I lost $3k on the 3 deals in the end. I needed a vehicle to drive while waiting for my Tremor and now that I've got the one I want I don't regret anything.

 

[RobertD]

You are looking at an upside of $1.5K on a $32K investment with an unknown downside. So that is a 4.7% return on your money If all goes well and your assumptions are correct and if they are not correct then it could be a 10-20% hit. This sounds like a high risk low reward investment. I would pass.

 

[D So 85]

CarMax offer to me appeared to be closer to 10-12% off their retail pricings so it appears to me that your $2.5k should be closer to $3.6-$3.8k. of course even a few hundred above actual cost is a profit.

Thanks very much! This was my main concern and I don’t think the numbers make sense at 10-12%

 

[D So 85]

You are looking at an upside of $1.5K on a $32K investment with an unknown downside. So that is a 4.7% return on your money If all goes well and your assumptions are correct and if they are not correct then it could be a 10-20% hit. This sounds like a high risk low reward investment. I would pass.

Agreed, thanks for the feedback! I thought I could have made a couple k (which is possible) but the risk & profit margin don’t make sense.

 

[D So 85]

I can uniquely speak to this situation. While waiting for my Maverick - I bought a 2022 Bronco Base Sasquatch - had issues and sold it for a $14k profit.

This allowed me to step into a 2022 Tesla Model 3 LR for $52,000. I drove it for 14 months and 16k miles and my Tremor came in.

Tesla was only worth $35,000 trade in.

Drove the Tremor, loved it.

Walked out of the dealership with a Tremor and a check for $4k and never looked back. Can't look at it like I lost $3k on the 3 deals in the end. I needed a vehicle to drive while waiting for my Tremor and now that I've got the one I want I don't regret anything.

Yeah, for 3k and getting the vehicle you ultimately wanted it’s all good. You needed something to drive while you waited. My L would be 7-8k and honestly the model 3 suites my needs fine. Thanks for the feedback.

 

[D So 85]

Absolutely buy the Maverick. It's a great investment. Auto values always go up. The market will go up for Tesla also. Decrease in value is a bubble.
[/QUOTEi

I agree the Model 3 value is a bad timing situation. Once gas prices go up and there are less available on the market it should get a bit better… but maybe that is too optimistic. If they keep dropping, I’ll just drive it until the wheels fall off!! Thanks for your comment.

 

[D So 85]

We are not car dealers. You would need to talk to Carmax.

I did and they wouldn’t tell me how much they would pay me! lol oh well..

 

[D So 85]

What vehicle do you want/need more? What you paid for the Tesla is sunk. Did you get what you wanted out of owning it?

Honestly, the Tesla Model 3 is perfect for what I need right now (daily commuting in the city). I just wanted a truck because 1.) I am a Texan 2.) Utility to move stuff around 3.) My daughter is getting a bigger (3 years old now) and it would be good to have vehicle for sports equipment, dirty/muddy jerseys etc. But my wife has an SUV so it’s all good.

 

[Ozarkbeard]

You will not make money flipping a Maverick now.

CARVANA today would give me around 4k more than I paid for my '23 XL Hybrid. I would clear about 3k, after paying taxes, registration and tag fees. But I paid under 1.5 grand OTD less than sticker for my Hybrid. Many people would not be able to flip their Maverick for a profit.

 

[ndmiller]

Carmax and Carvana offer inflated amounts these days on seemly the most random vehicles. They're pretty full of Mavericks from the past few years with retails dropping monthly, but are pay top dollar for non Tesla EV's (full as well) as the Used EV credit is live.

 

[MakinDoForNow]

I did and they wouldn’t tell me how much they would pay me! lol oh well..

Basically they drive and inspect your vehicle AND submit info to corporate who determines if it can be sold before the check to you clears the bank helped by if you are buying something as part of the deal. They have fleet of transports to move it that evening to city of sale. If they have one like yours in stock within 500 miles it will lower their offer to you

 

[BoskoPColtrane]

I did and they wouldn’t tell me how much they would pay me! lol oh well..

If you take into a store they will evaluate it and give you a price.

 

[DinoLord]

CARVANA today would give me around 4k more than I paid for my '23 XL Hybrid. I would clear about 3k, after paying taxes, registration and tag fees. But I paid under 1.5 grand OTD less than sticker for my Hybrid. Many people would not be able to flip their Maverick for a profit.

You would be selling, not flipping.

 

[Oscarcat]

*Update* Thanks for all the quick feedback. Y’all helped me see there was not enough reward for the risk associated. I ordered an XL at the same time, so hopefully I can just buy that one when it comes in!

So I ordered a Maverick Xlt Hybrid with Lux package and co-pilot360 and it finally came in. I test drove it and now I understand why ppl love these trucks. I was looking to trade in my model 3 which I bought because it was a great deal (at the time!) but has absolutely tanked in resale value recently and I’d rather just drive it til the wheels fall off instead of taking a 7-10k L! I am thinking I can potentially flip the maverick to CarMax.
Currently a 2.5k credit has been applied to the vehicle (2023 original order), but I saw this could potentially be 3.4k since it is an Xlt - does anyone have insight around this/seen this amount applied to their order. With just the 2.5k credit I am fully OTD at 32k and I am seeing prices online at Carmax for 36-38k. My general understanding is they make about 2.3k on each car, so even if I take 36k -2.5k =33.5k, so maybe a 1.5k profit. If I get the additional rebate than ~ 2.5k profit.

Am I overlooking anything? Does this make sense to you all?

Would appreciate any feedback!

thanks all!!

Daniel

Anecdotal for sure: My local small dealer here in north coastal San Diego CA had 14 new, mostly hybrid Mavs in inventory last week with an ADM on hybrids of +$5000. This week they have 17 hybrid Mavs and do not show any ADM.

In the mid-west, Long McArthur in Salina KS shows 52 new Mavs in stock.

My son purchased a new 2023 single motor white Tesla Model 3 last summer for about $37k in Seattle WA and loves it. His wife dented the driver's door, superficial damage. He was quoted $5k to repair and paint the door and a 2 month wait to get to it. [His $37k was just a tad more than I paid for my 24 Lariat hybrid, w/sunroof after subtracting the $2500 price protection.]

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