Has anyone found a place to buy them new for less than $1000? Or some way to repair the folding mechanism?

 

you can try this fix. might help you with your problem...

Power Fold Fix for $5 - Ford Powerstroke Diesel Forum

 

Awesome!!!! Thank you. That would be great if I could save $995 lol

 

You can try to go to a body shop and ask if they have a broken one that you can buy and get the parts. I say this because somebody hit my mirror and it just broke the plastic housing. All the power stuff worked. But they replaced the whole thing. It cost the other guys insurance $1600. I couldn't believe how much these mirrors are. I am sure these get hit and broke all the time.

 

My "fix" is to fold them in manually.