Start praying for covid69
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Well Tesla cutting Model Y prices by $14k definitely did not help depreciation of competitive models like the Mach E. Mach E also had dealer mark ups just not too long ago as well as a waiting list. With EV technology advancing so quickly, I don’t see EVs holding their value. Once we’re all driving 300+ mile EVs that can charge in 5 min, resale values will stabilize.
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I mean every OEM is basically cranking out new EVs as fast as possible, so I would say extreme depreciation is very likely.
EVs are like disposable toys
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Just an observation (not commenting as a moderator) but this isn’t the same thing as your thread title suggests.
There will be gluts in supply / plateaus in demand that will require escalating incentives, some of which will manifest themselves as unrealistic residual values in lease programs. There’s some of that going on right now.
So you can have a 60% residual on 3-year lease, for example, but the car may only be worth 45% at the end.
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I think ev prices are simply too high… New Blazer at 60k+ when you can buy an ICE in the 30s.
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Maybe we should start a club.
Im wondering how people who paid 5k-10k over sticker for Ioniq5/EV6 are doing right now…
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Part of this lunacy is the EV credit.
People will stand in line for a “$60,000” Blazer because of the $7,500 credit, but they wouldn’t cast a casual glance if it was just plain-old $52,500 with no incentives.
These credits aren’t saving people any money, they’re just inflating MSRPs.
And people drive home and brag to their friends about how they’ve won The Game of Life.
This works on people who shop at Kohls as well.
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When it comes to EVs: If you don’t buy right, then sit tight. You Def can’t pay over msrp.
I leased mine. I didn’t pause for a nanosecond to think about the pros and cons of leasing vs buying!
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Or flipping, or exiting before disposition without bring a Publishers Clearing House check.
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Also keep in mind that Chevy recently announced the new Bolt will be built on their new EV platform.
I do not believe the used market for EV’s has truly developed or will settle down with all the significant changes happening. Pricing is so random there is going to be so many people/dealerships caught with their pants down. People will keep scoring deals as long all these new EV models keep showing up, there’s just to many.
Infrastructure, range and charge rate all need to stabilize and we’re still YEARS away from that. I’m not a fan of government control anything but their needs to be sweeping changes which we’re seeing piece-mealed and trickling in. So its painful.
I sold my Ioniq 5 in December. Broke even on it with the tax credit.
I would jump from a roof if I would still have it😂
Anything that still has advances to be made in tech has a high risk of depreciation. That goes for EVs and PHEVs and it’s the advantage of leasing. And we’re already seeing it play out.
I have a 22 GC 4xe that stickered for 62, currently I’d be lucky to get 45 for it. It’s rapidly depreciate for the next 20 months of the lease where I pay $330 a month to drive it 800 miles a month and I’ll hand over those keys happily and let the leasing company take the hit. It won’t be worth the 39k end of lease residual they expected I’m willing to bet.
Perhaps Ford was smart not to lease MachEs but the Ford Options is basically the same thing. They’ll be taking a lot of these back.
But whether it’s a MachE or any other current generation EV, it’s a decent car and if you keep it long term and like it that can work too.
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Good. The Bolt was a few years outdated already whenever it first came out so any significant improvement is a good thing…
It truly is the worst rolling up on an EA and seeing a Bolt plugged into a 350KW unit that hasn’t been throttled to 50KW.
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This made me laugh out loud.
Buying a new EV is insanity. That said there is going to start to be soon some super cheap used EV commuter cars that will make a ton of sense to buy.
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Like which ones at what price?
How about a 1 year old EQS with 10k miles for $70k ($107k MSRP)?
EQS values look like a falling knife to me 
Either way hardly the “super cheap used EV commuter cars that will make a ton of sense to buy.”
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Can’t you nearly get one for the same new?
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Polestar 2 ? 2021’s are 30k right now so that’s like 50% off.
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