Ford - Powerboost or Lightning
5-Aug-22 10:57am
#1 MrBean
I'm torn on what to do and have to make a decision quickly.
So I reserved a Lightning (on day 3) and didn't make the cut this year. So I caved, and put in for a 2022 Powerboost (Limited) about 5 months ago (with a Z plan - that is not a guarantee to be available to me next year). Just got notified that it'll be assembled near end of September (after 5 months of zero communication).
My lease was up 8 months ago (2018 Platinum with 44k miles - should end around 8k or more miles under lease); however, I kept extending monthly in waiting to trade in towards next one.
I'm sure I probably should have simply bought out the lease and sold open market (still can); however, with the fee's and hassle of buying then selling ... I was/am naively optimistic that my dealership will get me close enough to close the gap between private and trade-in with all the fee's managed. My dealership told me typically, that open market only makes sense if you can make > 7% of cost to cover all the fee's/tax/etc. when buying out the lease.
KBB is saying I should be somewhere between $42k to $50k for the value of my truck, yet I just tried out Carvana & Vroom and they both offered me $38k --- not great leverage to show the dealership!
I'm stuck in debate, and I have to crap or get of the pot really soon. A few questions/points:
- Do I wait out the Lightning and skip the Powerboost? The cost of gas seems to be coming down relatively quick, hope/assume it will continue to decline, but who knows!
- First gen of Ford's EV seems to be going well ... but 300 miles max, leaves for some anxiety (even though there's a ton of charging stations out there now), and you know their next gen they'll probably have a much longer distance.
- That damn Frunk, man I want that ... grocery shopping with kids/dogs in a truck, pain in the ass.
- No timeline as of now on when the '23 Lightning will even be available.
- Do I buy out my current lease and attempt to sell open market?
- I'm nervous about the payment on a Limited If I don't get a good offer on trade-in, probably overdid it here but got excited having a Z plan for the first time
Thanks for any/all feedback
#1 MrBean
I'm torn on what to do and have to make a decision quickly.
So I reserved a Lightning (on day 3) and didn't make the cut this year. So I caved, and put in for a 2022 Powerboost (Limited) about 5 months ago (with a Z plan - that is not a guarantee to be available to me next year). Just got notified that it'll be assembled near end of September (after 5 months of zero communication).
My lease was up 8 months ago (2018 Platinum with 44k miles - should end around 8k or more miles under lease); however, I kept extending monthly in waiting to trade in towards next one.
I'm sure I probably should have simply bought out the lease and sold open market (still can); however, with the fee's and hassle of buying then selling ... I was/am naively optimistic that my dealership will get me close enough to close the gap between private and trade-in with all the fee's managed. My dealership told me typically, that open market only makes sense if you can make > 7% of cost to cover all the fee's/tax/etc. when buying out the lease.
KBB is saying I should be somewhere between $42k to $50k for the value of my truck, yet I just tried out Carvana & Vroom and they both offered me $38k --- not great leverage to show the dealership!
I'm stuck in debate, and I have to crap or get of the pot really soon. A few questions/points:
- Do I wait out the Lightning and skip the Powerboost? The cost of gas seems to be coming down relatively quick, hope/assume it will continue to decline, but who knows!
- First gen of Ford's EV seems to be going well ... but 300 miles max, leaves for some anxiety (even though there's a ton of charging stations out there now), and you know their next gen they'll probably have a much longer distance.
- That damn Frunk, man I want that ... grocery shopping with kids/dogs in a truck, pain in the ass.
- No timeline as of now on when the '23 Lightning will even be available.
- Do I buy out my current lease and attempt to sell open market?
- I'm nervous about the payment on a Limited If I don't get a good offer on trade-in, probably overdid it here but got excited having a Z plan for the first time
Thanks for any/all feedback
13-Nov-22 9:27am
#41 MrBean
The 4xEs are awesome! We're looking at a Wrangler, a Rubicon potentially. The $7500 kickback is enticing for the hybrid but the option is like $10k. I didn't realize until recently that they have a full gas tank, really awesome and pisses me off Ford didn't do the same with their trucks.
Also, the blue lettering with the E's is slick!
#41 MrBean
The 4xEs are awesome! We're looking at a Wrangler, a Rubicon potentially. The $7500 kickback is enticing for the hybrid but the option is like $10k. I didn't realize until recently that they have a full gas tank, really awesome and pisses me off Ford didn't do the same with their trucks.
Also, the blue lettering with the E's is slick!
13-Nov-22 9:28am
#42 MrBean
sinnie wrote:
I'm excited for it though. It has nightvision, a passenger screen is standard (but can't be seen from the driver seat, looks black.) and lots of other cool features. It can raise and lower itself too.
Really? Wow, had no idea. We debated going the SUV route but wanted a regular Jeep for ease of towing with our RV. Still, these options sound awesome! What was total? Assuming $65+?
#42 MrBean
sinnie wrote:
I'm excited for it though. It has nightvision, a passenger screen is standard (but can't be seen from the driver seat, looks black.) and lots of other cool features. It can raise and lower itself too.
Really? Wow, had no idea. We debated going the SUV route but wanted a regular Jeep for ease of towing with our RV. Still, these options sound awesome! What was total? Assuming $65+?
13-Nov-22 6:37pm
#43 sinnie
MrBean wrote:
Really? Wow, had no idea. We debated going the SUV route but wanted a regular Jeep for ease of towing with our RV. Still, these options sound awesome! What was total? Assuming $65+?
With the options I got, 70,735 for the Trailhawk. There's some higher level trims though too but they are more luxury. I prefer the rugged look. Base TH is right at 65k but the lowest 4xe is in the 50s I think.
I am leasing this one because it is new tech. Might buy it at the end, might not. I might wait and see if we get a full electric one. I like having both too, but it's also twice as much to go wrong. Still the GC has gotten amazing reviews and the board I'm on everyone is loving theirs.
The Wrangler has a 4xe too. I almost got one of those but with 2 young kids and the road noise concern I decided to wait. They have also been around since 2021 so lots of time to work out kinks. The GC gets slightly better mileage which was another win for me.
#43 sinnie
MrBean wrote:
Really? Wow, had no idea. We debated going the SUV route but wanted a regular Jeep for ease of towing with our RV. Still, these options sound awesome! What was total? Assuming $65+?
With the options I got, 70,735 for the Trailhawk. There's some higher level trims though too but they are more luxury. I prefer the rugged look. Base TH is right at 65k but the lowest 4xe is in the 50s I think.
I am leasing this one because it is new tech. Might buy it at the end, might not. I might wait and see if we get a full electric one. I like having both too, but it's also twice as much to go wrong. Still the GC has gotten amazing reviews and the board I'm on everyone is loving theirs.
The Wrangler has a 4xe too. I almost got one of those but with 2 young kids and the road noise concern I decided to wait. They have also been around since 2021 so lots of time to work out kinks. The GC gets slightly better mileage which was another win for me.
13-Nov-22 7:11pm
#44 loztdogs
I couldn’t even fathom paying 70k for a new car. I cringed when I payed 32k for my Fj Cruiser a couple years ago.
#44 loztdogs
I couldn’t even fathom paying 70k for a new car. I cringed when I payed 32k for my Fj Cruiser a couple years ago.
13-Nov-22 7:46pm
#45 sinnie
loztdogs wrote:
I couldn’t even fathom paying 70k for a new car. I cringed when I payed 32k for my Fj Cruiser a couple years ago.
I am trying not to think about it. But leasing I'll be "paying" under 30 over time and then upgrading unless I buy. But you are right. Hell it's almost as much as my first house cost!
#45 sinnie
loztdogs wrote:
I couldn’t even fathom paying 70k for a new car. I cringed when I payed 32k for my Fj Cruiser a couple years ago.
I am trying not to think about it. But leasing I'll be "paying" under 30 over time and then upgrading unless I buy. But you are right. Hell it's almost as much as my first house cost!
13-Nov-22 8:50pm
#46 MrBean
Haha same here... I've progressively spent more with each lease. Telling myself "next time I'll scale back"... Haven't figured it out yet. This Limited Powerboost is $87k! Stupid. The Lightning is $98k, but passing in hopes of the Powerboost actually showing up.
So dumb, but man it's nice having a new ride every few years. At some point I'll stop being an idiot.
#46 MrBean
Haha same here... I've progressively spent more with each lease. Telling myself "next time I'll scale back"... Haven't figured it out yet. This Limited Powerboost is $87k! Stupid. The Lightning is $98k, but passing in hopes of the Powerboost actually showing up.
So dumb, but man it's nice having a new ride every few years. At some point I'll stop being an idiot.
13-Nov-22 8:54pm
#47 sinnie
This will be the first time I'm leasing and I'm nervous about it. I'm gonna sell my current ride to Carvana for 22k (quote has already been done) but I can't give it up til my new ride is here.
Yes it's good having a new vehicle every few years. I got into a trap of buying one every 3-4yrs and with these prices for the features I want, it makes more sense to try leasing. I do want to either buy this one at the end, or find a good upgrade and buy that (or hell maybe even a used version of what I'll have or something slightly newer with the way car values drop.)
Though it's hilarious... almost 3 yrs ago no one would give me 15k for my Jeep and now I am going to get 22k for it. Wild times.
#47 sinnie
This will be the first time I'm leasing and I'm nervous about it. I'm gonna sell my current ride to Carvana for 22k (quote has already been done) but I can't give it up til my new ride is here.
Yes it's good having a new vehicle every few years. I got into a trap of buying one every 3-4yrs and with these prices for the features I want, it makes more sense to try leasing. I do want to either buy this one at the end, or find a good upgrade and buy that (or hell maybe even a used version of what I'll have or something slightly newer with the way car values drop.)
Though it's hilarious... almost 3 yrs ago no one would give me 15k for my Jeep and now I am going to get 22k for it. Wild times.
13-Nov-22 10:07pm
#48 MrBean
I always said I'd NEVER lease, alas, this is my 4th.
I said the same thing everytime... Imma buy it when I'm done. Problem is, new tech keeps ya hooked. Just like anything else these days. It's addicting, and stupid.
Yet it's AMAZING not having to do any maintenance sans oil changes.
Jeeps are worth a ton these days. My buddy traded in his old one, got a brand new one, for almost same payment.
#48 MrBean
I always said I'd NEVER lease, alas, this is my 4th.
I said the same thing everytime... Imma buy it when I'm done. Problem is, new tech keeps ya hooked. Just like anything else these days. It's addicting, and stupid.
Yet it's AMAZING not having to do any maintenance sans oil changes.
Jeeps are worth a ton these days. My buddy traded in his old one, got a brand new one, for almost same payment.
13-Nov-22 11:34pm
#49 Staraang
sinnie wrote:
This will be the first time I'm leasing and I'm nervous about it. I'm gonna sell my current ride to Carvana for 22k (quote has already been done) but I can't give it up til my new ride is here. Yes it's good having a new vehicle every few years. I got into a trap of buying one every 3-4yrs and with these prices for the features I want, it makes more sense to try leasing. I do want to either buy this one at the end, or find a good upgrade and buy that (or hell maybe even a used version of what I'll have or something slightly newer with the way car values drop.) Though it's hilarious... almost 3 yrs ago no one would give me 15k for my Jeep and now I am going to get 22k for it. Wild times.
Have you looked at carbuyerusa.com? They were giving me a better quote than Carvana for my car.
#49 Staraang
sinnie wrote:
This will be the first time I'm leasing and I'm nervous about it. I'm gonna sell my current ride to Carvana for 22k (quote has already been done) but I can't give it up til my new ride is here. Yes it's good having a new vehicle every few years. I got into a trap of buying one every 3-4yrs and with these prices for the features I want, it makes more sense to try leasing. I do want to either buy this one at the end, or find a good upgrade and buy that (or hell maybe even a used version of what I'll have or something slightly newer with the way car values drop.) Though it's hilarious... almost 3 yrs ago no one would give me 15k for my Jeep and now I am going to get 22k for it. Wild times.
Have you looked at carbuyerusa.com? They were giving me a better quote than Carvana for my car.
14-Nov-22 4:22pm
#50 sinnie
Got the call my Jeep showed up this morning so I'm picking it up tomorrow!! Putting down a total of 16k so my monthly payments will be a low 430/mo and yeah... will decide if I'm buying towards the end. Leasing for 3 years.
I just looked at carbuyerusa.com and they gave a good offer but still about 500 below carvana. So I am in the process of submitting everything to Carvana.
#50 sinnie
Got the call my Jeep showed up this morning so I'm picking it up tomorrow!! Putting down a total of 16k so my monthly payments will be a low 430/mo and yeah... will decide if I'm buying towards the end. Leasing for 3 years.
I just looked at carbuyerusa.com and they gave a good offer but still about 500 below carvana. So I am in the process of submitting everything to Carvana.
14-Nov-22 8:19pm
#55 sinnie
Thanks I'm excited!! I wanted to order this earlier this year but was preoccupied with baby stuff and being in the hospital so we ordered it in August. First time I've ever ordered one like this. Sucked to wait but woohoo!
Also got my Carvana quote locked in and guaranteed. Old car goes Wednesday and after my down payment on this one I'll have 8k in my pocket.
#55 sinnie
Thanks I'm excited!! I wanted to order this earlier this year but was preoccupied with baby stuff and being in the hospital so we ordered it in August. First time I've ever ordered one like this. Sucked to wait but woohoo!
Also got my Carvana quote locked in and guaranteed. Old car goes Wednesday and after my down payment on this one I'll have 8k in my pocket.
15-Nov-22 6:36pm
#56 Bishop
sinnie wrote:
Thanks I'm excited!! I wanted to order this earlier this year but was preoccupied with baby stuff and being in the hospital so we ordered it in August. First time I've ever ordered one like this. Sucked to wait but woohoo! Also got my Carvana quote locked in and guaranteed. Old car goes Wednesday and after my down payment on this one I'll have 8k in my pocket.
Carvana is such a stupid easy experience. Guy that picked my vehicle up literally asked for the keys, had me sign it, snapped a few photos, and on the truck it went. No test drive, no popping the hood, nothing.
#56 Bishop
sinnie wrote:
Thanks I'm excited!! I wanted to order this earlier this year but was preoccupied with baby stuff and being in the hospital so we ordered it in August. First time I've ever ordered one like this. Sucked to wait but woohoo! Also got my Carvana quote locked in and guaranteed. Old car goes Wednesday and after my down payment on this one I'll have 8k in my pocket.
Carvana is such a stupid easy experience. Guy that picked my vehicle up literally asked for the keys, had me sign it, snapped a few photos, and on the truck it went. No test drive, no popping the hood, nothing.
15-Nov-22 7:18pm
#57 loztdogs
Selling a car to carvana is one thing. Buying is another. Similar experience selling a couple years ago. Two guys came to pick up my car, max time maybe 15 mins before my check was in hand. Fast forward to August of this year. Plan was to sell my current car and buy a new one all from the comfort of my 6” iPhone screen. Picked a car, applied my trade turned in all paperwork, and did an ach for the balance. Now we wait… except that’s all I did was wait. a week went by no status change. Called customer service- “your vehicle is in pre delivery inspection” - cool! Another week goes by no status change. Called customer service- “your vehicle is in pre delivery inspection” Ok but, that’s what I was told last week. Do you have the car, does it really take two weeks to inspect?!? Another week goes by no status change. Called customer service- “your vehicle is in pre delivery inspection” Ok Well it’s been 3 weeks and either there are problems found in the inspection and you’re not being upfront about or the car is lost, can’t be located. Either way I canceled. Left me pretty frustrated with Carvana, I ended up selling my old car to a dealership for more than I payed and more than the Carvana offer and just bought something local.
#57 loztdogs
Selling a car to carvana is one thing. Buying is another. Similar experience selling a couple years ago. Two guys came to pick up my car, max time maybe 15 mins before my check was in hand. Fast forward to August of this year. Plan was to sell my current car and buy a new one all from the comfort of my 6” iPhone screen. Picked a car, applied my trade turned in all paperwork, and did an ach for the balance. Now we wait… except that’s all I did was wait. a week went by no status change. Called customer service- “your vehicle is in pre delivery inspection” - cool! Another week goes by no status change. Called customer service- “your vehicle is in pre delivery inspection” Ok but, that’s what I was told last week. Do you have the car, does it really take two weeks to inspect?!? Another week goes by no status change. Called customer service- “your vehicle is in pre delivery inspection” Ok Well it’s been 3 weeks and either there are problems found in the inspection and you’re not being upfront about or the car is lost, can’t be located. Either way I canceled. Left me pretty frustrated with Carvana, I ended up selling my old car to a dealership for more than I payed and more than the Carvana offer and just bought something local.
15-Nov-22 8:08pm
#58 sinnie
Bishop wrote:
Carvana is such a stupid easy experience. Guy that picked my vehicle up literally asked for the keys, had me sign it, snapped a few photos, and on the truck it went. No test drive, no popping the hood, nothing.
lol damn I am hoping for a similar experience. Nothing wrong with mine but I don't want any nitpicking bullcrap.
Took delivery of the GC 4xe today and it's fudging amazing!!! So much tech inside it's insane. So fun to drive and FAST. It feels like I'm inside a tank from the future. Gonna be spending a while programming things and figuring stuff out that's for sure. I'm quite happy!
#58 sinnie
Bishop wrote:
Carvana is such a stupid easy experience. Guy that picked my vehicle up literally asked for the keys, had me sign it, snapped a few photos, and on the truck it went. No test drive, no popping the hood, nothing.
lol damn I am hoping for a similar experience. Nothing wrong with mine but I don't want any nitpicking bullcrap.
Took delivery of the GC 4xe today and it's fudging amazing!!! So much tech inside it's insane. So fun to drive and FAST. It feels like I'm inside a tank from the future. Gonna be spending a while programming things and figuring stuff out that's for sure. I'm quite happy!
15-Nov-22 8:09pm
#59 sinnie
I keep hearing Carvana is about to go belly up. I don't care as long as I get my deposit first. Their stock has crumbled from 300 to 10 and it can't be sustainable offering so much extra cash on vehicles than anyone else will. Especially if they're not gonna really look them over before picking up.
I have heard nothing but nightmares buying from them too.
#59 sinnie
I keep hearing Carvana is about to go belly up. I don't care as long as I get my deposit first. Their stock has crumbled from 300 to 10 and it can't be sustainable offering so much extra cash on vehicles than anyone else will. Especially if they're not gonna really look them over before picking up.
I have heard nothing but nightmares buying from them too.
15-Nov-22 8:57pm
#60 Bishop
loztdogs wrote:
Selling a car to carvana is one thing. Buying is another. Similar experience selling a couple years ago. Two guys came to pick up my car, max time maybe 15 mins before my check was in hand. Fast forward to August of this year. Plan was to sell my current car and buy a new one all from the comfort of my 6” iPhone screen. Picked a car, applied my trade turned in all paperwork, and did an ach for the balance. Now we wait… except that’s all I did was wait. a week went by no status change. Called customer service- “your vehicle is in pre delivery inspection” - cool! Another week goes by no status change. Called customer service- “your vehicle is in pre delivery inspection” Ok but, that’s what I was told last week. Do you have the car, does it really take two weeks to inspect?!? Another week goes by no status change. Called customer service- “your vehicle is in pre delivery inspection” Ok Well it’s been 3 weeks and either there are problems found in the inspection and you’re not being upfront about or the car is lost, can’t be located. Either way I canceled. Left me pretty frustrated with Carvana, I ended up selling my old car to a dealership for more than I payed and more than the Carvana offer and just bought something local.
Would never be a buyer from them after experiencing how they buy vehicles. I watched my vehicle when it was listed go to three different buyers (and this was over the summer with crazy diesel prices)... not a chance in hell they made money on what they offered for my vehicle and what they sold it for after factoring in transportation costs. Even with rolling in financing...
#60 Bishop
loztdogs wrote:
Selling a car to carvana is one thing. Buying is another. Similar experience selling a couple years ago. Two guys came to pick up my car, max time maybe 15 mins before my check was in hand. Fast forward to August of this year. Plan was to sell my current car and buy a new one all from the comfort of my 6” iPhone screen. Picked a car, applied my trade turned in all paperwork, and did an ach for the balance. Now we wait… except that’s all I did was wait. a week went by no status change. Called customer service- “your vehicle is in pre delivery inspection” - cool! Another week goes by no status change. Called customer service- “your vehicle is in pre delivery inspection” Ok but, that’s what I was told last week. Do you have the car, does it really take two weeks to inspect?!? Another week goes by no status change. Called customer service- “your vehicle is in pre delivery inspection” Ok Well it’s been 3 weeks and either there are problems found in the inspection and you’re not being upfront about or the car is lost, can’t be located. Either way I canceled. Left me pretty frustrated with Carvana, I ended up selling my old car to a dealership for more than I payed and more than the Carvana offer and just bought something local.
Would never be a buyer from them after experiencing how they buy vehicles. I watched my vehicle when it was listed go to three different buyers (and this was over the summer with crazy diesel prices)... not a chance in hell they made money on what they offered for my vehicle and what they sold it for after factoring in transportation costs. Even with rolling in financing...
15-Nov-22 9:00pm
#61 Bishop
sinnie wrote:
I keep hearing Carvana is about to go belly up. I don't care as long as I get my deposit first. Their stock has crumbled from 300 to 10 and it can't be sustainable offering so much extra cash on vehicles than anyone else will. Especially if they're not gonna really look them over before picking up. I have heard nothing but nightmares buying from them too.
Curious when you finally sell how your experience is. I know the second I got the check in hand, I mobile deposited while the guy was loading my vehicle. Their business model isn't sustainable and they will, with a high probability, end up in BK.
#61 Bishop
sinnie wrote:
I keep hearing Carvana is about to go belly up. I don't care as long as I get my deposit first. Their stock has crumbled from 300 to 10 and it can't be sustainable offering so much extra cash on vehicles than anyone else will. Especially if they're not gonna really look them over before picking up. I have heard nothing but nightmares buying from them too.
Curious when you finally sell how your experience is. I know the second I got the check in hand, I mobile deposited while the guy was loading my vehicle. Their business model isn't sustainable and they will, with a high probability, end up in BK.
Ford - Powerboost or Lightning