Used FFE's

[sefs]

I thought I'd start a thread for everyone who bought used to share their experiences. Right now, it looks like you can pick one up for $15-16k.

Here are my stats:
Bought my 2012 FFE Ingot Silver, leather, with 2,000 miles on it in November of 2013.
Got it for $22k. Also purchased the extended warranty (wish I hadn't).
Have had no significant issues to date.
I'm at 22,000 miles on the clock now.

Anyone else buy used want to share their experience?

 

[Mistert2]

Yesterday I bought a used 2014 FFE for $23,500 from a local Ford Dealer. It is loaded and had about 4,000 miles on it. The dealer replaced a bad motor mount, lower shroud, and a bolt. I am happy, because getting a 2015 was coming in at $27-28k. I live in Wisconsin and the certified dealers in my area do not have anything in stock. My dealer is working on their certifications.

 

[Washingtonian]

I'm considering selling my recently acquired 2014 if I can make 4-5 grand (paid $18500 after tax credits) and then buying a 2015 with similar incentives. Are there any laws about getting the $7500 tax credit and selling the vehicle? It is already titled and used at this point.

 

[damania]

I'm considering selling my recently acquired 2014 if I can make 4-5 grand (paid $18500 after tax credits) and then buying a 2015 with similar incentives. Are there any laws about getting the $7500 tax credit and selling the vehicle? It is already titled and used at this point.

I believe you cannot sell the car for 3 years with the tax credits. Same with my California rebate. Anyways, it's still cheaper to buy new (about $25k new here in CA) and then -$10k in tax incentives and credits = $15k. The 2015s might be $500 more than the 2014s so not much of a difference in price.

 

[brogult]

I believe you cannot sell the car for 3 years with the tax credits. Same with my California rebate.

Any source for that? I see no restriction for the Federal tax credit. The California policy is there to ensure that the car remains in CA. The Federal policy is there to get the cars on the road--and selling it doesn't change that result. Unless you export it...

 

[brogult]

@sefs

Interesting topic. I used to be in the used car business and it can be a constant source of entertainment. The FFE market will be even more interesting because of the low numbers, relatively low prices (these aren't Ferraris) and the need to ship for any long-distance transaction. There is almost NO private market and what there is is probably on E-bay.

I originally considered a used Leaf, but then decided on a Focus. The Leafs were reportedly very cheap, but they turned out not to be quite cheap enough to make it worth while. On the Focus, it seems that the used prices, at least as of the end of last year, are only attractive for people who don't qualify for the $7500 credit. In other words, they sell at a premium from the best new price less the credit. This is especially true in CA, where the total credits are at least $10K.

It will be interesting to see what happens as the 2012 models start coming off lease in some volume (all 1000 or so of them...). Obviously they'll be below the $20K+ residuals those leases were based on, but probably not as cheap as many have predicted.

 

[michael]

I'm considering selling my recently acquired 2014 if I can make 4-5 grand (paid $18500 after tax credits) and then buying a 2015 with similar incentives. Are there any laws about getting the $7500 tax credit and selling the vehicle? It is already titled and used at this point.

You can definitely resell it, no issues with the Fed credit.

In California, you need to keep it 30 months or make a pro-rata refund of the $2500.

 

[Stretch2727]

Yesterday I bought a used 2014 FFE for $23,500 from a local Ford Dealer. It is loaded and had about 4,000 miles on it. The dealer replaced a bad motor mount, lower shroud, and a bolt. I am happy, because getting a 2015 was coming in at $27-28k. I live in Wisconsin and the certified dealers in my area do not have anything in stock. My dealer is working on their certifications.

You would have been better off with the 2015. There is no tax credit on the used 2014. The new 2015 car would have been $19.5K-20.5K after the $7500 tax credit.

 

[damania]

You should be able to get a price around $25k for a new 2015 FFE with leather. Check truecar.com. Then you're looking at the $7500 fed credit and state refund depending on where you live that could be another $1500 to $3500.

Also, 0% loan up to 60 months is available. I put 0 down on mine. Didn't have to pay anything but just put my signature on the loan document to drive my car out. I believe Ford has something like if you put $500 down they'll match it as credit on the loan so it's like another $500 rebate.

 

[damania]

I'm considering selling my recently acquired 2014 if I can make 4-5 grand (paid $18500 after tax credits) and then buying a 2015 with similar incentives. Are there any laws about getting the $7500 tax credit and selling the vehicle? It is already titled and used at this point.

You can definitely resell it, no issues with the Fed credit.

In California, you need to keep it 30 months or make a pro-rata refund of the $2500.

Ahhh! so the federal tax credit has no restrictions, only the state of California. Interesting...

 

[Mistert2]

Unfortunately, I am not able to get the federal credit. I am a small business owner and I am not able to use the credit on my taxes. Unfortunately in Wisconsin, the Ford Dealers are not as good on price or delivery for electric vehicles. By the time I would use an out of state dealership, shipping costs are pretty high. There are no state incentives, in fact my yearly registration has an additional $50 fee for being an electric vehicle. Wisconsin is turning into the Mississippi of the north. If I used my local dealer, they keep doing business with my business. My Governor is anti electric vehicle and he is running for President. His name is Scott Walker.

 

[Rogerschro]

Unfortunately, I am not able to get the federal credit. I am a small business owner and I am not able to use the credit on my taxes. Unfortunately in Wisconsin, the Ford Dealers are not as good on price or delivery for electric vehicles. By the time I would use an out of state dealership, shipping costs are pretty high. There are no state incentives, in fact my yearly registration has an additional $50 fee for being an electric vehicle. Wisconsin is turning into the Mississippi of the north. If I used my local dealer, they keep doing business with my business. My Governor is anti electric vehicle and he is running for President. His name is Scott Walker.

I feel for you. I live in Ohio, SW and electrics are hard to come by. I got mine from NE Indiana. My price for the 2012 with 5200mi. was $22000. That included transportation to my door. All documentation was signed at my home upon delivery. I did have to pay the sales tax, sadly on the full amount as it was a used vehicle, so trade value was not eligible to reduce cost. Not a great deal, as I could have gotten one for less, but I wanted the frosted glass, and some of the other features that were with the 2012 that were deleted from the later models. It is still flawless in it's performance so I am happy with the deal.

 

[damania]

Unfortunately, I am not able to get the federal credit. I am a small business owner and I am not able to use the credit on my taxes. Unfortunately in Wisconsin, the Ford Dealers are not as good on price or delivery for electric vehicles. By the time I would use an out of state dealership, shipping costs are pretty high. There are no state incentives, in fact my yearly registration has an additional $50 fee for being an electric vehicle. Wisconsin is turning into the Mississippi of the north. If I used my local dealer, they keep doing business with my business. My Governor is anti electric vehicle and he is running for President. His name is Scott Walker.

I would look into a lease. Also, the leasing company passes the $7500 credit onto your lease. Also, I know as a business owner, you can deduct a lot more of a lease than a purchase. Plus in 3 years you'll have much better choice of EVs like the ones with 200 mile range. Also I expect the prices on current EVs to drop like a rock in 3 years when the 200 mile EVs come out. You should be able buy your leased EV (or a like EV) at that point for a real low price.

 

[joejoe2]

Plus in 3 years you'll have much better choice of EVs like the ones with 200 mile range. Also I expect the prices on current EVs to drop like a rock in 3 years when the 200 mile EVs come out. You should be able buy your leased EV (or a like EV) at that point for a real low price.[/quote]

It will be interesting see what comes along in the next three years, there doesn't seem to have been much improvement in the last 3. Anyway, even if the 200 range car does come along, GM is talking about a 30-35K price after incentives, and who knows if they can hit that price. As it says a few posts above an FFE can be had for under 18 with the 7.5K incentive. I am thinking as long as the battery holds up the FFE will hold its value quite well

 

[Mistert2]

I appreciate all the ideas. I have more deductions than I can claim. Credits are a wacky thing, I am sure that normal people get use all their credits. I have modernized, hybridized, insulated, solar powered just about everything in the last seven years. I have been rolling over the credits as available. I am sure that I am the exception, not the norm.

I am also planning on keeping this vehicle for 15 years. I think it is one of the first EVs that fit my needs. I have a Ford Fusion Energi as a backup. Once it is out of warranty, I am going to work with a Ford Technician to change the onboard charger and batteries. Brakes, Tires, wipers, coolant, batteries, non-LED lamps, shocks, springs. I am running this puppy into the ground.

 

[flounder73]

I bought my 2012 FFE with 11K miles for 18K last July. I now have 22K miles with no issues whatsoever. Not much can go wrong with the AC motors...it's the other electronics I worry about but we'll see if we get to that point in the future. We also have a 2013 Chevy Volt which is a much quieter and more solid car but less sporty compared to the FFE. We've parked our Expedition for the most part only going on family trips now and again.

2012 FFE - 11K gas free miles since July 2014 - Last service $15 for tire rotation/multipoint inspection
2013 Volt - 6K miles gas - 25K miles EV since November 2012 - Last service was $4 to pay for disposal fees/multipoint inspection
2010 Expedition - Lonely on the side of the driveway - Last service $239 (50K mile service)

 

[jeffand]

Unfortunately, I am not able to get the federal credit. I am a small business owner and I am not able to use the credit on my taxes. Unfortunately in Wisconsin, the Ford Dealers are not as good on price or delivery for electric vehicles. By the time I would use an out of state dealership, shipping costs are pretty high. There are no state incentives, in fact my yearly registration has an additional $50 fee for being an electric vehicle. Wisconsin is turning into the Mississippi of the north. If I used my local dealer, they keep doing business with my business. My Governor is anti electric vehicle and he is running for President. His name is Scott Walker.

I did a search on this new tax and fees on EVs in Wisconsin and could find no evidence that this has been enacted. This was proposed fee on electric vehicles when you renewed the plates registration. As of this point in time their are no department motor vehicle fees specific to electrics in Wisconsin.