Trade‐in my 2022 ford maverick xl hybrid for 2023 ford maverick xlt lux package

[tlswogh1989]

Couple weeks ago I bought a 2022 Ford Maverick XL Hybrid at $38,000. (I know I paid over msrp, but I needed a truck with good gas milage quick). Anyways, I really love the truck and thought if I'm paying this much right now for the car note, would it be possible for me to order 2023 Ford Maverick XLT lux package and buy at msrp and no additional markup and trade-in 2022 Maverick XL hybrid.? Maybe keep the same car note payment? Thank you

Sponsored

 

[dgreenjets]

Im interested in this as well. I overpaid for a lariat lux. Only thing I would change is I want a moonroof and pos a different color. But depending on prices, and trim options would definitely like to order and "trade up".

 

[Mavman123]

My advice to you is to sell that xl hybrid as soon as possible to avoid being underwater on that vehicle. You paid 38k plus tax for a 20k vehicle. The value currently is inflated since Ford can't produce enough, so you could probably get a pretty penny back from carvana or vroom, or third party. If all these supply constraints end and ford and other car manufacturers can suddenly crank out vehicles like the good old days, you may be caught underwater owing several thousand dollars more on the loan than the vehicle is worth.

If you absolutely need a truck, you can find a moderately equiped ranger or Colorado for 30 to 32k. That extra 6 to 8k can buy a ton of gasoline until you get a maverick at MSRP

 

[Clarkdonbran]

I’m seriously considering doing something similar. Not sure my marriage can withstand it though!

 

[Darnon]

Hard to say because so much will depend on how much trade-in value it can still command a year from now and you don't give any details of what your current loan structure is. Either way you're still probably looking at having to roll over 6-8k in negative equity. So it might end up being the same or a little less but still way too much for the value.

Hope you got good GAP insurance that actually covers being at something like 180% loan-to-value. Sheesh.

 

[Art_Vandelay]

Couple weeks ago I bought a 2022 Ford Maverick XL Hybrid at $38,000.

How loud was the high-five the salesman got when you walked out the door?

 

[tlswogh1989]

How loud was the high-five the salesman got when you walked out the door?

Pretty loud i could hear it from miles away

 

[cavemold]

Ordering a Lux might be option in 2023 with how constraints are going in 2022 but if they do i would not order the lux. You will be waiting a good year if 2022 was any test on how lux mavericks are going.

 

[rclee]

Welcome back @Art Vandelay

BTW I love your profile pic...

 

[cavemold]

My advice to you is to sell that xl hybrid as soon as possible to avoid being underwater on that vehicle. You paid 38k plus tax for a 20k vehicle. The value currently is inflated since Ford can't produce enough, so you could probably get a pretty penny back from carvana or vroom, or third party. If all these supply constraints end and ford and other car manufacturers can suddenly crank out vehicles like the good old days, you may be caught underwater owing several thousand dollars more on the loan than the vehicle is worth.

If you absolutely need a truck, you can find a moderately equiped ranger or Colorado for 30 to 32k. That extra 6 to 8k can buy a ton of gasoline until you get a maverick at MSRP

i dont think this will be issue until next may at the very earliest.

 

[Hdang1980]

How loud was the high-five the salesman got when you walked out the door?

My guess is the outdoor speakers started blaring Kool & the Gang "Celebration". Wow 38K! I paid $37K OTD for my fully loaded Lariat Lux and moonroof addon.

 

[Jemers22]

Hard to say because so much will depend on how much trade-in value it can still command a year from now and you don't give any details of what your current loan structure is. Either way you're still probably looking at having to roll over 6-8k in negative equity. So it might end up being the same or a little less but still way too much for the value.

Hope you got good GAP insurance that actually covers being at something like 180% loan-to-value. Sheesh.

6-8k$ I calculate he paid 15k over after tax etc etc.... I mean we don't know what he put down or if it was an all cash deal but DANG... I walked away at 27k out the door with dealer ads on an XLT....

 

[Darnon]

6-8k$ I calculate he paid 15k over after tax etc etc....

15k over but OP will have paid back about half of that if they take delivery a year from now.

 

[thevol]

I would get the best gap insurance possible and go park it in the worst neighborhood you can find.

 

[LessFrequent]

My advice to you is to sell that xl hybrid as soon as possible to avoid being underwater on that vehicle. You paid 38k plus tax for a 20k vehicle. The value currently is inflated since Ford can't produce enough, so you could probably get a pretty penny back from carvana or vroom, or third party. If all these supply constraints end and ford and other car manufacturers can suddenly crank out vehicles like the good old days, you may be caught underwater owing several thousand dollars more on the loan than the vehicle is worth.

If you absolutely need a truck, you can find a moderately equiped ranger or Colorado for 30 to 32k. That extra 6 to 8k can buy a ton of gasoline until you get a maverick at MSRP

Having paid a ~90% ADM over MSRP the OP was negative equity when he walked out the door.

Surprised he was able to get a loan unless his down payment was half of the purchase price.

Having said that, the Greater Fool Theory is in full force these days what with ADM and CryptoCurrency and all, so who knows...

Sponsored