Trade-in 2022 w/ 14k miles for 2024?

[Icanhazmaverick]

I bought a marked up Lariat Lux July 2021 because I needed a vehicle. I put in an order for a Maverick September 2021 just in case trade-in was worth it. My 2023 became a 2024 and has been delivered.

My 2022 Lariat has 14,000 miles.

After the private offer rebate, the 2024 price $36,700. I paid $37,400 for my 2022 (all prices without taxes and fees). Dealership will give me $32,000 for the 2022 trade-in. Basically I'll lose $5k plus have to pay an additional $5k when all interest is paid as the rates are higher (2022 is on a 2.7%, 2024 will be 7.3%).

What would you do? The 2024 has all the same lux add-ons as the 2022, plus the black appearance package. I guess the 2024's lost the door keypad? I dont care about that as I have never used it.

My 2022 had daily shudder/metal on metal noises when the ICE switched to Electric, which has been resolved with the September 2023 TSB. Still, thats a year of driving with that issue, and I'm afraid there might be long-term engine damage.

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[DRICH2027]

I bought a marked up Lariat Lux July 2021 because I needed a vehicle. I put in an order for a Maverick September 2021 just in case trade-in was worth it. My 2023 became a 2024 and has been delivered.

My 2022 Lariat has 14,000 miles.

After the private offer rebate, the 2024 price $36,700. I paid $37,400 for my 2022 (all prices without taxes and fees). Dealership will give me $32,000 for the 2022 trade-in. Basically I'll lose $5k plus have to pay an additional $5k when all interest is paid as the rates are higher (2022 is on a 2.7%, 2024 will be 7.3%).

What would you do? The 2024 has all the same lux add-ons as the 2022, plus the black appearance package. I guess the 2024's lost the door keypad? I dont care about that as I have never used it.

My 2022 had daily shudder/metal on metal noises when the ICE switched to Electric, which has been resolved with the September 2023 TSB. Still, thats a year of driving with that issue, and I'm afraid there might be long-term engine damage.

what you may consider though is sounds like you lost 5k . You drove the truck for 2 years. So 2500 a year or 200+\- month.

as an owner of a 2024 lariat everything is standard. It’s real nice.

and of course Ford has had 2 years to fix many issues on a new model. Good luck !

 

[CTYankee]

If the only thing you're losing is BAP, but keeping $10K in your pocket, then keep the 2022. The concern about long term motor health may prove legitimate but I think it's unlikely. In any case, if it turns out to be an issue, you can trade in then when you'll likely be able to buy a Maverick off the lot at MSRP or less.

 

[Icanhazmaverick]

what you may consider though is sounds like you lost 5k . You drove the truck for 2 years. So 2500 a year or 200+\- month.

I've been looking at numbers all morning and my brain is mush. I think the cost of driving the truck for 1.5 years would be the $5k I'm losing (37400 purchase less 32000 trade in) plus the monthly payments I've made as well, no? That's 10K itself over 18 months, so 15K total cost for 1.5 years of driving. Am I dumb or did I get that right?

Edit: I dont think adding the monthly payments as cost of ownership for the 1.5 years makes sense because thats paying down the loan, which means I owe less and has nothing to do with the amount I'm upside down on the truck with the trade-in. I owe 23K on the truck and after trade-in my new loan will be 30K plus the additional 1.5 years of time (and at the higher rate, which is where the 5K extra in interest comes from).

I think. God help me.

So yes, I think 5K over the 1.5 years is the correct "loss" - which is $278/month.

 

[Scupking]

At this point wait until the refresh this year.

 

[Hot Runr Guy]

Without knowing what equity you have in your '22, it hard to make a case for upgrading, especially since CA does not offer a sales tax break on the value of the trade in. It cost me $11K to upgrade from a '23 XLT to a '24 Lariat, but I got features I wanted that I should have ordered in the first place.

My deal was all cash, no financing, so I didn't have to deal with that part of the equation.

HRG

 

[SloopJB]

What is having 2.5 years of warranty worth to you? I recently had to speed $15K to repair the fuel injection system on my vehicle that was 2 months out of warranty

 

[Scott Asheville]

A spreadsheet is your best friend. Taxes and fees matter.

My input is that I'd keep the existing vehicle, pass on the 2024, and keep your money ready for the (hopefully) refreshed 2025. Hopefully Sync4 and who knows what else.

 

[OrCoaster]

A spreadsheet is your best friend. Taxes and fees matter.

My input is that I'd keep the existing vehicle, pass on the 2024, and keep your money ready for the (hopefully) refreshed 2025. Hopefully Sync4 and who knows what else.

I would second this Why complicate your life if the current truck is making you happy. Let the new one go and pay off the 22. Hold out for a better version in 25.

 

[OneAlienBoi]

I've yet to see evidence that the shudder caused any long term damage to trucks. So I wouldn't worry about it.

 

[Optimus]

I bought a marked up Lariat Lux July 2021 because I needed a vehicle. I put in an order for a Maverick September 2021 just in case trade-in was worth it. My 2023 became a 2024 and has been delivered.

My 2022 Lariat has 14,000 miles.

After the private offer rebate, the 2024 price $36,700. I paid $37,400 for my 2022 (all prices without taxes and fees). Dealership will give me $32,000 for the 2022 trade-in. Basically I'll lose $5k plus have to pay an additional $5k when all interest is paid as the rates are higher (2022 is on a 2.7%, 2024 will be 7.3%).

What would you do? The 2024 has all the same lux add-ons as the 2022, plus the black appearance package. I guess the 2024's lost the door keypad? I dont care about that as I have never used it.

My 2022 had daily shudder/metal on metal noises when the ICE switched to Electric, which has been resolved with the September 2023 TSB. Still, thats a year of driving with that issue, and I'm afraid there might be long-term engine damage.

Can you swing selling on your own, including checking instant offer prices with Carvana, Carmax, etc.? Hybrids are still going for a premium and you might get a better offer selling on your own.

 

[Icanhazmaverick]

If the only thing you're losing is BAP, but keeping $10K in your pocket, then keep the 2022. The concern about long term motor health may prove legitimate but I think it's unlikely. In any case, if it turns out to be an issue, you can trade in then when you'll likely be able to buy a Maverick off the lot at MSRP or less.

Yea I'm leaning this way. Seems like BAP + 1.5 more years of warranty minus 1isn't worth it really.

Can you swing selling on your own, including checking instant offer prices with Carvana, Carmax, etc.? Hybrids are still going for a premium and you might get a better offer selling on your own.

Carvana $27k, CarMax $29k.

 

[BuddyS]

Keep the 22. You’re posting here hoping that the internet world will give you the ok to make a bad financial decision.

 

[Sonicaceman]

Ive looked into a 25 MY now that they are out. I got my 24’ XLT eco with 4k and FX4 awd and lux pkg for invoice Feb of 24’ and put 4k down on it and I currently owe 32k and the kbb now says it’s only $25k as a trade. Amazing how much a year changes stuff. I would currently lose 6500 if I traded up to a 25…., def not worth it. The upgrades are nice but now that important to me. I think the new MY 25’ and a large supply of 24’s is destroying trade in value on any older Maverick currently.

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