To flip or not to flip

[D So 85]

*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

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[OB1e]

Just because CarMax has them on sale for 36k, they won't give you $36k for yours. If they did they wouldn't be in business. If you run their valuator most likely they will want to see the truck first. Save the time, headache, and sales tax, just keep the Tesla....wow that felt weird saying that .

 

[Ron Neal]

Agree Tesla prices have tanked. Flipping your Maverick these days isn't as easy as a year ago but since it's a hybrid you may (or not) make a few bucks. If you are OTD at 32k I dont see a big profit margin for you. The only thing that makes sense about flipping a car to a dealer is few things make sense but "everyone" will want your piece of the pie.

 

[DinoLord]

You will not make money flipping a Maverick now.

 

[D So 85]

Agree Tesla prices have tanked. Flipping your Maverick these days isn't as easy as a year ago but since it's a hybrid you may (or not) make a few bucks. If you are OTD at 32k I dont see a big profit margin for you. The only thing that makes sense about flipping a car to a dealer is few things make sense but "everyone" will want your piece of the pie.

Thanks!

 

[D So 85]

You will not make money flipping a Maverick now.

Thanks for the feedback.

 

[D So 85]

Just because CarMax has them on sale for 36k, they won't give you $36k for yours. If they did they wouldn't be in business. If you run their valuator most likely they will want to see the truck first. Save the time, headache, and sales tax, just keep the Tesla....wow that felt weird saying that .

Yes, I did factor that in with the 2.5k reduction, but even still I am looking to gain only a couple grand… starting to realize the risk/reward isn’t worth it.

 

[mav_kev]

Yes, I did factor that in with the 2.5k reduction, but even still I am looking to gain only a couple grand… starting to realize the risk/reward isn’t worth it.

Exactly - you're putting up $32k to maybe make $1000 or lose $5000. Not worth it.

 

[MakinDoForNow]

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

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.

 

[710-oil-614]

A couple things - how quickly do you want to flip it?

Do you have $32,000 cash to purchase the vehicle or are you going to finance it? Financing will add some (but not much) complication in the flip.

Regardless - before CarMax will purchase it from you, it will need to be registered first. So there is some cost involved there for you, as well as time. You will likely own the car for up to a week. You may have to take insurance out on it as well, or if you don't and something happens to it while in your possession you're in big time trouble.

If I had $32k laying around I would invest it instead of flipping a Maverick but I value my time and I wouldn't want to spend it dicking around with a dealer and then CarMax for $1,500.

You could leave that $32k in a high yield savings account for a year and it will accrue the same $1,500 and all you have to do is move it over with your phone.

Just my opinion - it's not worth it.

 

[rclee]

Don't forget the sales tax! In my county that is 7% when you put it in your name.

 

[AutobahnSHO]

Yeah the flipping new cars was a super weird thing that probably won't happen again and in many areas of the country won't be profitable now, and in the future won't be possible to profit.

 

[BoskoPColtrane]

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

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

 

[Clarkdonbran]

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?

 

[RDRahn]

Are you factoring in sales tax, license, registration and other fees you have to pay dealer on top of vehicle cost? Might not be worth it at that.

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