Would you take $5,000 over what you paid?

[BradnChristine]

I agree Brad! People do not realize that when the truck is registered with the new owner, they have to report to the DMV how much they paid and who they bought it from. The Fed and state will get their share which combined is usually 40%. So after tax, a $5k profit = $3k. You will save a lot more in fuel over the years than this short term profit, and then have to wait another 18 months for a new Mav.

I like the Mav so much I actually own 2 I show on my channel.

The Maverick fits my needs so well that I'd have paid a lot more than I did. Not one other vehicle fits my needs in the market:
1. Under 4,000 lbs weight
2. Flat-towable
3. Hybrid fuel efficiency
4. Four doors
5. A pickup bed
6. A real spare tire (no fix-a-flat garbage)

It also fit my wants:
1. Intelligent access so the key lives in my pocket and is never taken out
2. Heated seats and heated steering wheel
3. Nice looking (love that BAP on Alto Blue)
4. Adaptive Cruise and the rest of the 360 stuff

The closest thing on the market I had found is my 2017 C-Max that meets all those requirements except it has no real spare tire, no pickup bed and no heated steering wheel.
So why would I sell it? You can't drive cash.

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[Mavreezy]

I'm not trying to stir the pot but... If you could sell your brand new Maverick for $5k over what you paid within a week would you? I'm asking because it seems someone with a 2023 maverick in hand could walk into a dealership and trade it in for a Ranger and little or no cash. We all love the Mav but Rangers are cool too. I'm just asking. Don't hate me. I saw this on another post here. $43,600 is a Ranger price .

HellMothaphukingYeah!

 

[Old Hickory Trojan]

The Maverick fits my needs so well that I'd have paid a lot more than I did. Not one other vehicle fits my needs in the market:
1. Under 4,000 lbs weight
2. Flat-towable
3. Hybrid fuel efficiency
4. Four doors
5. A pickup bed
6. A real spare tire (no fix-a-flat garbage)

It also fit my wants:
1. Intelligent access so the key lives in my pocket and is never taken out
2. Heated seats and heated steering wheel
3. Nice looking (love that BAP on Alto Blue)
4. Adaptive Cruise and the rest of the 360 stuff

The closest thing on the market I had found is my 2017 C-Max that meets all those requirements except it has no real spare tire, no pickup bed and no heated steering wheel.
So why would I sell it? You can't drive cash.

Personally I don't think that the Maverick has a "real" spare tire. You get the spare that's standard and it's a doughnut. You get the so called full size spare option and it's not the same as the tires on the truck and the discription I find is misleading.

 

[MLowe05]

I agree Brad! People do not realize that when the truck is registered with the new owner, they have to report to the DMV how much they paid and who they bought it from. The Fed and state will get their share which combined is usually 40%. So after tax, a $5k profit = $3k. You will save a lot more in fuel over the years than this short term profit, and then have to wait another 18 months for a new Mav.

I like the Mav so much I actually own 2 I show on my channel.

This tax argument is made frequently and is flawed. Just because you must pay tax does not mean the profit you do make is not worth it. You also assume that you'll be getting back in line for the same vehicle - but what if you're not waiting on another Maverick? Also, I'd consider $5,000 on the low end. I got $8000 more than I paid for my 2023 Maverick, $9500 more than I paid for my 2022 EB, and $9000 more for my 2022 Hybrid. Are you saying because of taxes I should have skipped all of this? Why don't I just quit my job while I'm at it since they're taking around 40% as well?

In a year I drove 3 different Mavericks a combined 8,500 miles and sold them for a combined $26,500 more than I paid. After taxes that is a pure profit of $16,000 - or the equivalent of being paid $1.88/mi to drive a Maverick - all for pleasure. I work in logistics and that is quite a bit more per mile than lots of professional CDL drivers.

 

[Old Ranchero]

I'm not trying to stir the pot but... If you could sell your brand new Maverick for $5k over what you paid within a week would you? I'm asking because it seems someone with a 2023 maverick in hand could walk into a dealership and trade it in for a Ranger and little or no cash. We all love the Mav but Rangers are cool too. I'm just asking. Don't hate me. I saw this on another post here. $43,600 is a Ranger price .

Good topic and relatable to my thinking from the beginning of my Maverick story. I've had many mini trucks of several brands in my lifetime. 4 were Rangers with all good experiences. I usually gravitated towards XLs as my target when I was younger and poorer. Didn't want to pay extra for options of minimal personal value and bloat the price. Later on I got a really good deal on a 2001 Supercab and found I liked the extra space enough to start preferring it. We're retired and have hobbies and interests that require a full size truck a lot of the time, which can cause schedule conflicts sharing. We found we are happier as a 2 truck household, but only 1 needs to be full sized.

When we bought our 2018 F-150 I heard about the "new" Ranger coming back, and also was told by my sales guy if I waited longer there was a redesigned version coming. I still had our old truck and my SUV and the luxury of waiting. So the Maverick appeared 1st and I ruled out the current midsize options, and focused on Maverick as a Good enough for now truck for most my needs but would upgrade if something even better for my wants appeared. So, I got my Maverick and have work arounds for the shortcomings and could be happy keeping it...

Enter the 6th generation Ranger. I don't like the new GM twins, hate Tacoma interior ergonomics and not impressed enough to consider Frontier as an upgrade over what I have. Thinking back to my 2 Ranger Super Cabs, I start paying attention to new Ranger news and it appears there will probably be an XL Super Cab with 6' bed available - which I DO consider a worthy upgrade Pricing hasn't been released yet, but using 2023 Build and Price tool + adding $3-5k to MSRP to estimate new 2024 baseline and adding a few packages, I end up a little over $33k including destination and some fees OTD.

I paid a little over $26k OTD for my Maverick, and KBB gave me a Trade in value of $31.2k. My same (only) local Ford dealer is interested in taking the Maverick back in trade as they have none for the lot and can't get stock units. So, long story short, looks like my Maverick is worth $5k more than I paid even on trade in, and if the new Ranger actually checks more boxes for me, yeah I will take the $5k over what I paid and have most the new Ranger covered

 

[Skyline]

This tax argument is made frequently and is flawed.

Isn't the gain from sales (Sale - Purchase price) taxed as capital gain tax for both federal and state? The actual, federal capital tax rate ranges 0 - 20%, depending on the income level. The state capital gain tax is similar to the federal, or just taxed together with income tax rate, if the state has income tax.

 

[Old Ranchero]

No, a loaded Lariat has gone up around 4k. Love the truck and now will wait to see if there is a PHEV offered down the road. Don't need anything bigger, with more hauling. This truck is perfect. Able to grab the free pallets for wood and long 16 foot planks.

Wait a minute, is your tailgate level with that load? Big problem around here apparently!

 

[joewaiting]

This tax argument is made frequently and is flawed. Just because you must pay tax does not mean the profit you do make is not worth it. You also assume that you'll be getting back in line for the same vehicle - but what if you're not waiting on another Maverick? Also, I'd consider $5,000 on the low end. I got $8000 more than I paid for my 2023 Maverick, $9500 more than I paid for my 2022 EB, and $9000 more for my 2022 Hybrid. Are you saying because of taxes I should have skipped all of this? Why don't I just quit my job while I'm at it since they're taking around 40% as well?

In a year I drove 3 different Mavericks a combined 8,500 miles and sold them for a combined $26,500 more than I paid. After taxes that is a pure profit of $16,000 - or the equivalent of being paid $1.88/mi to drive a Maverick - all for pleasure. I work in logistics and that is quite a bit more per mile than lots of professional CDL drivers.

Wish I had your luck! No better offer than 32,500 for 23 XLT Hybrid, Lux package, back window, trailer hitch. Heading to dealer April 3rd,
New XLT AWD just arrived. Can't have both right now, darn!

 

[Johnkn]

This tax argument is made frequently and is flawed.

In a year I drove 3 different Mavericks a combined 8,500 miles and sold them for a combined $26,500 more than I paid. After taxes that is a pure profit of $16,000 - or the equivalent of being paid $1.88/mi to drive a Maverick - all for pleasure. I work in logistics and that is quite a bit more per mile than lots of professional CDL drivers.

I'm sure the IRS will appreciate your post..

The difference between personal purchase price and sales price is considered Gain.

Ummm, it's stated on the tax return forms.

Net/Net

Profit made on the sale is 1000% reportable on tax returns..

If less than 1 year it is considered Short Term Capital Gains, all Federal and state/local taxes apply...

.

 

[MLowe05]

I'm sure the IRS will appreciate your post..

The difference between personal purchase price and sales price is considered Gain.

Ummm, it's stated on the tax return forms.

Net/Net

Profit made on the sale is 1000% reportable on tax returns..

If less than 1 year it is considered Short Term Capital Gains, all Federal and state/local taxes apply...

.

Ummm... I'm sure if you had read my post you'd have seen that I said $26,500 was how much more I sold/traded them for and $16,000 was the AFTER tax profit.

You guys have got to get off this tax bandwagon bullshit. Taxes are inevitable and the argument that you shouldn't sell your vehicle for $8,000-$10,000 more than you paid just because of them is the stupidest thing I've ever heard.

 

[MLowe05]

Wish I had your luck! No better offer than 32,500 for 23 XLT Hybrid, Lux package, back window, trailer hitch. Heading to dealer April 3rd,
New XLT AWD just arrived. Can't have both right now, darn!

It was pretty easy to sell the XL EB back in April of 2022 and also easy to get a large trade value on the Lariat hybrid. This 2023 XL hybrid took some work. You may be better off to hold for now until Carvana algorithms start buying cars. Their manual appraisals suck.

But also - the Maverick hype is in decline and the values are declining. I don't think I'd take delivery of another one unless I was absolutely sure it was a keeper. Whereas I had no qualms about basically using the others as test drives while knowing I could sell them for a profit.

 

[Timothyd]

I'm not trying to stir the pot but... If you could sell your brand new Maverick for $5k over what you paid within a week would you? I'm asking because it seems someone with a 2023 maverick in hand could walk into a dealership and trade it in for a Ranger and little or no cash. We all love the Mav but Rangers are cool too. I'm just asking. Don't hate me. I saw this on another post here. $43,600 is a Ranger price .

Well, ok. When can you have the cash ready?

 

[Flomounier1]

It would be kind of dumb not to unless you can get more than 5k.

After all, it's just a 20k Truck. It's not like it's some ultra rare one of one Lamborghini.

We still don't know how these trucks are going to hold up long term. Sure, there are people with 80-120k miles on their Maverick but they still haven't been parked outside for 10 years in the hot sun and had their paint job put to the test, the plastics put to the test, the engine gaskets not drying up put to the test, etc. A well maintained 1st gen Toyota Tacoma with 200k miles will probably have less issues over the next 20 years compared to the Ford Maverick judging by how well the Tacomas have held up and how many issues the Mavericks already have.

 

[onetequilatwo]

Wait a minute, is your tailgate level with that load? Big problem around here apparently!

Don't know and have no reason to take a level to it. They did not move or slip around. There are tie downs, but it being exactly level is not a concern for this guy. Love the truck.

 

[stoptothink]

Ummm... I'm sure if you had read my post you'd have seen that I said $26,500 was how much more I sold/traded them for and $16,000 was the AFTER tax profit.

You guys have got to get off this tax bandwagon bullshit. Taxes are inevitable and the argument that you shouldn't sell your vehicle for $8,000-$10,000 more than you paid just because of them is the stupidest thing I've ever heard.

+1 some "interesting" spin going on there. I wouldn't sell our Maverick for probably even $8k over what we paid, because there isn't anything we like as much that we could get relatively soon in that price range, but that doesn't negate basic math. "Don't let the tax tail wag the dog"...Who cares how much taxes are taken out when the net profit to you is worth it?

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