‘They Should Tell You That:’ Georgia Woman Pays $58,000 for Mustang EV. She Can’t Believe What It’s Worth a Year Later

“Do not get an electric car. This is the worst financial decision I’ve ever made.”

With that opening line, a Georgia-based Mach-E owner kicked off a viral EV rant on TikTok, fueled by $28,000 in negative equity and a resale market moving faster than many new buyers realize.

The clip from traveling nurse Morgan Taylor (@taylrmorgan) goes into painstaking detail, offering Taylor’s regrets and gripes about how underwater she is for a car that she’s not even sure fits her lifestyle, which includes a nearly 160-mile round-trip commute three days a week.

“When I tell you that I owe $48,000 on this car, and the resale value is like 20,000… I don’t know what I’m gonna do,” she said in the clip that’s been viewed more than 6,000 times.

Taylor says she paid roughly $58,000 for her 2023 Mustang Mach-E, including taxes, fees, and an extended warranty. That number isn’t far off from typical transaction prices last year. Most sources show the 2023 Mach-E Premium Extended Range trim carried an MSRP in the mid-$50,000s, and industry transaction-price data from Edmunds and Kelley Blue Book confirms that many EV buyers regularly paid above sticker in 2022 and early 2023 due to limited inventory.

Where her story diverges from the usual new-car depreciation curve is in the resale valuation. Taylor claims her Mach-E is now worth about $20,000. While values vary by trim, mileage, and condition, a quick survey of used listings shows that 2023 Mach-E models with average mileage typically fall between $22,000 and $28,000. That aligns with a broader decline in EV resale pricing, as analysts reported in mid-2024 that used EV prices had fallen by more than 30% year-over-year, one of the steepest drops recorded for any vehicle category.

Those price shifts didn’t happen in a vacuum. Tesla triggered a wave of across-the-board price cuts beginning in early 2023, a move that forced other automakers, including Ford, to follow suit. As new-car prices fell, used EVs, especially those ineligible for the federal tax credit, lost value even faster. The resale slide accelerated throughout 2024 as Ford increased incentives and adjusted inventory, pushing many lightly used models far below what owners expected when they bought them.

Charging Costs, Cold Weather, and Range Pains

Taylor’s video also lays out a long list of day-to-day frustrations she says have pushed her away from EV ownership entirely. She notes that her Mach-E’s 300-mile extended-range battery rarely delivers its rated range during cold Georgia winters. That experience mirrors well-documented findings from the American Automobile Association, which reported that EVs can lose up to 41% of their driving range in freezing temperatures.

Charging was another sticking point. Taylor says she pays as little as $3–$4 per full charge at home through an off-peak Georgia Power program, which tracks with the utility’s published EV overnight rates. But she also notes that high-speed charging at public stations can cost as much as $40, depending on the provider and charging tier. Public charging prices vary widely, but Electrify America and other networks often charge higher per-kWh rates than home electricity, and fees can climb when using adapters or peak-demand periods.

Taylor says the bigger issue is simply planning around a commute that requires reliability and convenience. She drives 78 miles each way to work, or more than 450 miles per week, often on rural or exurban routes where charging access is limited. Data from the U.S. Department of Energy’s Alternative Fuels Data Center shows that while Georgia has strong EV adoption in urban counties like Fulton, DeKalb, and Cobb, charger availability drops sharply in rural areas. For drivers who regularly cross those areas, trip planning is still not as seamless as filling up at any gas station.

Some TikTok commenters argued that the Mach-E itself, not EVs in general, was the culprit. One commenter claiming to work as an EV engineer wrote, “This isn’t an electric car problem. This is a Ford Mach-E problem… those Mach-Es aren’t worth 40k+.” Others countered with their own experiences, noting that Teslas have also lost substantial value over the last two years and that early-generation battery electrics across all brands tend to depreciate faster than traditional gasoline vehicles.

The conversation also drew a steady stream of financially minded commenters questioning Taylor’s purchasing decisions as much as the vehicle’s. Several pointed out that all new cars, especially those priced above $50,000, experience significant early depreciation, and that trading vehicles every year or two can quickly bury a buyer in negative equity. Taylor acknowledged that she has traded multiple vehicles in a short span, including a Kia Telluride and a Mazda CX-5, and has previously paid to roll negative equity into her next purchase.

Even some EV owners sympathetic to her frustrations urged others to avoid buying new electric vehicles outright until depreciation trends stabilize. Many recommended leasing or buying used EVs that have already endured their steepest depreciation hits. That guidance lines up with recommendations from automotive analysts at CarGurus and Edmunds, who have increasingly suggested leasing as a way to hedge against unpredictable EV resale values.

The Bigger Picture for EV Shoppers

Taylor’s video struck a nerve because it landed at a moment when the EV market is recalibrating. Automakers continue to introduce new models and improve charging technology, but pricing remains volatile, incentives shift frequently, and consumer familiarity varies widely. Buyers who jumped in early, often with limited time to research or compare options, have sometimes found themselves facing realities they weren’t prepared for, such as cold-weather range loss, higher-than-expected fast-charging costs, or steep resale drops.

At the same time, the EV market has shown signs of maturing. Tesla’s charging standard, NACS, has been adopted by nearly every major automaker. Federal funding through the National Electric Vehicle Infrastructure (NEVI) program is expanding charger networks along major corridors. And new EV models are arriving with more consistent efficiency and better software, features that early adopters often had to live without.

Still, as Taylor learned, timing matters. Buying at the wrong moment when inventory was tight and prices were inflated can set the stage for painful resale surprises later.

“I don’t hate the car,” she said near the end of her video. “I hate that it’s worth so much less.”

For many EV shoppers, her story is less about one frustrated owner and more about understanding the growing pains of a fast-evolving market. And as the debate in her comments shows, the future of EV adoption may depend as much on buyer expectations as on technological improvements.

InsideEVs reached out to Taylor via direct message and comment on the clip. We’ll be sure to update this if they respond.