Selling my 4xe

summer4x

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Do not overpay for a used car, there is going to be a massive correction on prices in the future. The likes which we have never seen.
Fully agree with this. The prices are a joke. FWIW, I've been watching private party listings on Craigslist languish for months. People got greedy.
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Devil6Dog

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I agree with many others here - you are making an assumption that 'people' will pay above MSRP for a used vehicle.
- this rarely happens with a dealer; new, maybe - depending if they can slip in the 'market adjustment', or the addon's (I literally just looked at a new 2021 with 2k in markup for paint protection, tinted windows, and wheel locks lol), or what-have-you. But very rarely can they mark up a used vehicle that much
- this almost never happens on a private sale. most people who are evaluating private sales ARE looking for a deal of some type. If they want to just throw money at something - they can do that with a dealer and at least have some recourse if something goes wrong.

I know lots want to believe there's this huge shortage of vehicles - but in reality, there is plenty of availability within 6 hours of just about anywhere. I've been looking for a 2-door JLU andactually resigned myself to paying MSRP - but honestly, got tired of the search and have decided to order it. and you know what - I'll get exactly what I want, at a price that will be below any of the ones I was willing to 'make do' with.

I could be the oddity - but when I'm spending 60k and up on a vehicle (such as yours) I'm going to want it exactly how I want it, and new. Because in that price range there really isn't a lot of difference in 55k to 60k. so most will probably think - meh, I'll just buy new and wait a month or two.

now if you marked it down in the 52-55k range, you might get a buyer or two interested - but I am willing to bet that anything above 55k will be a tough sale. The market just isn't that terrible as many would like to believe (immediate local area notwithstanding)
This is a great point. I think that number is even lower like 50k. If I am going to spend that kind of money on a vehicle I want it New and built to my specs if possible. And for a first year 4XE I definitely want it new. The OP is better off keeping it and enjoy it and re visit in 2 years.
 

jeep-v

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When "well known" rebate is involved on purchased vehicle - you have to pass it to the new owner. All price estimates will price it in. You can not keep the rebate when you sell the vehicle later on. It always will be deducted on resale, period. Do not feel bad as you will collect the rebate when file taxes. If rebate amount will increase - the current owner will loose even more then they collected as new bigger rebate amount will be pushing prices down even more. So if congress approve $12.5K EV rebate - you may loose 12.5K-7.5 = 5K more, if you sit on the car for too long and then it is going to hurt for real.
 
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TheMAnderson

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Please correct me if I’m wrong but…
The Tax Credit is $7500. My understanding is that’s not a $7500 discount on the car. It’s a $7500 reduction in your income on your taxes. So your really looking at savings of $750 (10%) -$2775(37% bracket). If you are in the 24% bracket (majority of people are in this or below) it’s at most $1,800 of savings.

if someone took $7500 off the car price based on the tax credit, wouldn’t that be a mistake?
No - it's a tax credit not a tax deduction. You get credited the full $7500 independent of your tax bracket
 

shane7

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It's my experience the $7500 Federal tax credit only applies to Offset of any money one may owe in the Tax year vehicle is purchased. Example, if you owe IRS $7500 or more at end of tax year then you will be able to apply for the Full amount of this incentive to offset amount owed. Should you only owe $3000 then only $3000 of it can be used to off set Income portion of tax owed. If you don't owe any Income tax for 2021 you will not get a cent from the government. Now leasing is another story because your not entitled to any of the $7500 because you don't own it the leasing company does, they get the $7500 credit for themselves. The lease company may use the tax credit as a discount capitalized cost reduction to your benefit.
 

Zandcwhite

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It's my experience the $7500 Federal tax credit only applies to Offset of any money one may owe in the Tax year vehicle is purchased. Example, if you owe IRS $7500 or more at end of tax year then you will be able to apply for the Full amount of this incentive to offset amount owed. Should you only owe $3000 then only $3000 of it can be used to off set Income portion of tax owed. If you don't owe any Income tax for 2021 you will not get a cent from the government. Now leasing is another story because your not entitled to any of the $7500 because you don't own it the leasing company does, they get the $7500 credit for themselves. The lease company may use the tax credit as a discount capitalized cost reduction to your benefit.
You are half right, amount owed including what they've taken from your payroll gets the corresponding credit. If your total liability is under $7500, maybe it's time to stop cheating on your taxes or selling drugs as I don't see how you could afford a $50k vehicle otherwise? Hypothetically if the total withholding from your payroll was $7500 on the nose, and you bought a 4xe that same year, and your total tax liability was $7500, you'd get a 100% refund of your withholding of $7500. Now if your total liability is only $3k, you'd have an income of ~$25k at the corresponding 12% tax bracket...maybe a $50k+ vehicle is not the best idea?
 

rayvonp

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take It to car max
 

Chupacabra

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take It to car max
They're not going to overpay for it either, and they are certainly aware of the tax credit implications of buying/selling it used. But might be worth it just to get a real world appraisal that he can go off of and see what it's *really* worth in this market.
 

4XEJLU

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They're not going to overpay for it either, and they are certainly aware of the tax credit implications of buying/selling it used. But might be worth it just to get a real world appraisal that he can go off of and see what it's *really* worth in this market.
CarMax, Vroom, Carvana, GMTV are all paying quite a bit for these right now.
 

csjlu

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Not sure if this is a top and the beginning of a new trend, but two consecutive months of negative average price comps for used cars while new inventory remains extremely tight...
 

Thill444

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Not sure if this is a top and the beginning of a new trend, but two consecutive months of negative average price comps for used cars while new inventory remains extremely tight...
I think it will be slow decline for the used market, but it will be consistent. The key will be pricing your used vehicle correctly when you first list it, or you could be riding a downwave and constantly be slightly overpriced.

The new inventory is the tough part of this. The longer it continues the longer used prices will stay propped up. But once the new supply meets new demand, the used market is going to see a significant correction.
 

SKTexas

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Yes, exactly. It's just for once, the subsidy gives some form of benefit to the consumer, rather than the multimillion dollar corporation, like the fossil fuel subsidies which are in the billions with a b. (great resource for visualizing what 1 billion is to 1 million: https://mkorostoff.github.io/1-pixel-wealth/)

Now, even that's arguable, because Stellantis just charges more for the 4xe and the tax credit ends up being a wash for the consumer and money directly into Stellantis' pocket. Even then, it's taxpayer money being used to support an American business (it also supports non-american business but I didn't buy from them). But for anyone who purchased prior to the two price increases, that's money in their pocket.

Finally, the tax credit expires after 200k vehicles sold for that manufacturer. If anything, this is startup money. Yknow, the kind of startup aid that ICE manufacturers received to produce jeeps and tanks in ww2 and then kept in the form of their massive production infrastructure. Or the kind of subsidies they get in the form of tax breaks or perks from small local governments for bringing jobs to that area when they build a new factory or office.

I'm not going to go as far as to say that these subsidies are good things or not, but I will go as far as to say that having an issue with this credit specifically is an odd position to take, considering how much the government subsidizes so many other corporations that you (generalized you: those who generally complain about the PHEV credit) don't take issue with.

Also, considering the tax credit can't be taken advantage of unless you already pay a significant amount of taxes, it's amusing that you try to qualify "those of us who pay taxes" as separate from 4xe drivers. 4xe drivers by definition have to pay taxes to get the credit.

To summarize, I think that electric vehicles are a good thing, either as an end-product to deal with reducing ICE vehicles or as a stepping stone to a more efficient type of fuel for transportation. I think that from an America first kind of mindset--the lower our reliance on oil by the diversification of our vehicles and our power plants, the less economic stress and bargaining power of OPEC and the more we can provide for our own immediate needs on our own. I think being against that is kind of short-sighted.

And I'd say that PHEVs and EVs are kind of killing it in competing actually. Tesla's sales aren't slowing; they are growing insanely fast and their tax credits expired a helluvalong time ago.
And I'd take my 4xe against any other except the 392, but I didn't pay 70grand for mine.

Turns out creating a 21-28 electric range vehicle that always has an incredible amount of torque and hp, really works for a country where 87% of people live in a metropolitan area and don't have to drive much more than 21-28 miles a day.
Dude, I love all of your posts. It makes me happy to see some other Texans that aren't part of the redhat hive mind. I'm in Tyler but if there is ever a meet up in DFW, I'd love to shoot the shit with you.
 

jdeolivares

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Please correct me if I’m wrong but…
The Tax Credit is $7500. My understanding is that’s not a $7500 discount on the car. It’s a $7500 reduction in your income on your taxes. So your really looking at savings of $750 (10%) -$2775(37% bracket). If you are in the 24% bracket (majority of people are in this or below) it’s at most $1,800 of savings.

if someone took $7500 off the car price based on the tax credit, wouldn’t that be a mistake?
That’s not correct . It is a $7500 tax credit not a deduction off your income. If you paId at least $7500 i taxes you pay $7500 less in taxes. This includes all federal income tax paid either thru withholding or payments with your tax return.
 
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Hoopster3

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Here's an update on where things stand:

I've gone to a few dealers and they range from $52k-55k.

The online places are consistently higher.. Carvana, Auto Nation, ect range from $54k-58k.

GMTV started at $57k then went to $58k and now sent a message they're going to go higher. So still up in the air about what to do. Works been super busy so haven't been able to spend much time on it. Glad I'm in no hurry to do anything.
 
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