Help me justify the purchase!

[doolin64]

Seems crazy I know...but here's the background and where my current deal is at.

• Placed a deposit on the second day orders reservations opened.
• I was in the second wave of orders. Atlas Blue Lariat ER order placed. My tentative build date was last fall and got pushed and pushed.
• Ford drops Atlas Blue and the color defaults to Avalanche
• Last Nov, I got impatient and purchased a used '21 F150 Powerboost from my dealer. Great truck, amazing MPG (23.7) compared to my Ram.
• Truck arrived at my dealer 7/1/2023. Nearly 2 years after placing my order. No intent to buy but I had asked the dealer to let me take it for a ride.
• I drive the truck and love the truck, but the color is ok. Wife and kids hate the color.
• The truck gnaws at me and the dealer kept it out back.
• They move it on the "line" at the end of August and the truck sits. We're not a popular EV territory so to speak. These things sits.
• Dealer continues to check in with me as I do with them.
• My biggest struggle is the trade value, it dropped over the past two months from $51,300 to 45,500.
• I'm also eligible for a state tax rebate of $7,500 in mass but I'd need to keep the truck for 3 years (long time for me).
• Financing rates stink.
• Here's my price shake down as it stands:

MSRP 79,019 (new repriced price)
Rebates (16,000)
Trade in (45,500)
Down Pay (7,500) (prepaying the rebate I will get back at tax time)
Owe on trade 38,000
Tax 1,105.88
Reg/Fees 275.00
OTD 49,399.88


My payments are going to increase. Is that increase worth the savings in gas. I drive 14000/year. Figure I spend about $2,500-$2,700 on fuel a year. If I finance for the same term I did with my current truck, then my payment increases and I'll spend about $1344 more per year. How much will I spend in electricity charging at home? To me I'm coming out even.

HELP!

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[doolin64]

** I could put more money down, but I do like preserving my cash as much as possible.

 

[Warp Asylum]

If it's a wash financially and you love the truck, I say go for it. I had a 2016 3.5EB that I loved other than the gas mileage, so moving to effectively the same truck but with far better power, updated/better tech, no gas, etc was a no brainer for me. I don't tow so that wasn't a concern, but if you do intend to tow long distances, just make sure you have done your research and know what you're getting into.

I personally don't like Avalanche or other white-ish colors, but that's preference. Any chance you could find a similar deal in a color you like? There are quite a few Lightnings hanging around dealers these days.

 

[WhipSticks]

With interest rates between 7 and 10%, if you buy, put down as much cash as you can. A $60K loan would cost you $12k or more over the life of the loan at these rates.

In MA, with the hefty state rebate, the full $7500 federal tax rebate and the new $7500 Ford cash back deal that runs from Oct 23 to Jan 02, 24, its hard to not buy one of these trucks. OTOH: "Wife and kids hate the color." is a deal killer. There are lots of dealers in MA, why not just buy one of a different color. The Avalanche white just isn't "yours" anymore.

 

[TaxmanHog]

How much will I spend in electricity charging at home?

14000 miles / 2.0 MPK (season mean with better and worse efficiency summer/winter) 7000 KWH times your total home energy toll rate, context for my home on National Grid with community bulk purchase plan from Constellation Energy, it comes to $0.258 a KWH, that would cost ~$1806 a year.

 

[mr.Magoo]

I don't remember all the details, but you might want to double check / confirm the Mass EV thing as I'm sure that would influence your decision.

I thought there was an issue with the weight limit and when Ford changed it so that AT tires was the default it essentially f'd over the MASS EV people unless they remembered/thought about switching back to AS.

In short, if your truck has AT tires it might not qualify.

@TaxmanHog could probably provide some clarity...

 

[TaxmanHog]

I don't remember all the details, but you might want to double check / confirm the Mass EV thing as I'm sure that would influence your decision.

I thought there was an issue with the weight limit and when Ford changed it so that AT tires was the default it essentially f'd over the MASS EV people unless they remembered/thought about switching back to AS.

In short, if your truck has AT tires it might not qualify.

@TaxmanHog could probably provide some clarity...

That was the case prior to a major revision of the program in August of 2023, it seems they have loosened the requirements with regard to GVWR, but I encourage everyone in MASS to personally contact the program for confirmation that your pending purchase will yield a rebate.

 

[Randall Stephens]

14000 miles / 2.0 MPK (season mean with better and worse efficiency summer/winter) 7000 KWH times your total home energy toll rate, context for my home on National Grid with community bulk purchase plan from Constellation Energy, it comes to $0.258 a KWH, that would cost ~$1806 a year.

Holy cow on that kWh cost in the northeast.

 

[doolin64]

@mr.Magoo - good news, I do not have the AT tires. My truck thankfully does qualify for the Mass rebate. Shy of calling like Taxmanhog recommends.

@WhipSticks - it's a small town local dealer who has been good to me. The color has grown on me. I pass the dealer daily and have stopped on numerous occasions (enough to be called a stalker) taking pictures and viewing in different light. If I leave this dealer, I'd be giving up another $8500 in rebates that I'm eligible for (happy to discuss that in a PM). Maybe I'd get a discounted truck and a better trade elsewhere, but I think I'd end up at the same place or slightly worse.

 

[F150ROD]

The dealer will sell your PowerBoost pretty quickly, try to squeeze another $1500 out of it or have them throw in some accessories.

 

[ctuan13]

Holy cow on that kWh cost in the northeast.

Yeah thats insane. Paying at most like $0.12 a kwh here.

 

[TaxmanHog]

Yeah thats insane. Paying at most like $0.12 a kwh here.

If it weren't for the tree huggers of northern New England, we would have cheap Hydro Quebec energy, until then if ever, most of our energy is from natural gas steam fired plants and two Nuclear plants one in Seabrook NH the other in Millstone CT

 

[Zappcatt]

14000 miles / 2.0 MPK (season mean with better and worse efficiency summer/winter) 7000 KWH times your total home energy toll rate, context for my home on National Grid with community bulk purchase plan from Constellation Energy, it comes to $0.258 a KWH, that would cost ~$1806 a year.

Holy cow on that kWh cost in the northeast.

$.44 kWh here on Hawaii Island, gas also starts at $5.00 for the "cheap stuff"

 

[Zappcatt]

How many service appointments would you not have with the EV?

Brakes might actually be worse in NE not using them much on the EV. I seem to remember someone saying they rusted or seized due to lack of use on an EV.

 

[doolin64]

If it weren't for the tree huggers of northern New England, we would have cheap Hydro Quebec energy, until then if ever, most of our energy is from natural gas steam fired plants and two Nuclear plants one in Seabrook NH the other in Millstone CT

I thought Seabrook got shut down.

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