Yeah, you brought up a few days ago that pre-covid and pre-supply-chain-shortage, the captive financial arms were basically propping up the residual on leases. This meant a person on a lease was getting a subsidy that was less obvious other than to suppress the monthly payments.
But from a purely financial perspective, the leasee was paying much less depreciation than they should have been, and the financial services side was taking a loss at the time the vehicle was turned in.
These subsidies have gone away, which means someone leasing is pretty much getting slammed with a big chunk of depreciation over the first 3 years. While this makes leasing less attractive, it doesn’t diminish the fact that people who lease typically want the freshest cars. Leasing could still be done “smartly” in this climate, even if it costs more money to the leasee.
Also a risk reward too. Get in an accident in your owned car and it’s worth even less. Subsidies to lease will and already are coming back. Inventories are up and they need to move these overpriced cars. They raised msrps by 25-50% the last 4 years. I think great lease deals are gonna be here over the next few months. Not precovid deals but much betttet then we have been seeing.
You may have forgotten but few years back pre-COVID people were paying over MSRP for Telluride when it came out. Same thing for EV9. It just showed up on the market. Expect to pay extra. Not my cup of tea but the only time I will crap on those car is when the reason is “I’m expecting my first baby and we need a big car”
I’ll paste what I wrote on the last EV9 thread and it will probably be my last reply in this thread
Having driven EVs for many miles now, I can vouch for many of their superior features. But road trips are not one of them. I still rent or borrow an ICEV for road trips.
Personally I wouldn’t buy or lease an EV9 right now. Owned a ‘22 Kia, nothing against them. I just see use-cases as follows:
Need a vehicle for 6-7 people that can do road trips too: Lexus TX or Toyota GH, Sienna, Pilot, Palluride, Odyssey, Volvo XC90, etc. Some of these can be found with a PHEV trim for people who need HOV stickers or to take advantage of solar or free charging at work (don’t overpay for an EV9 just to save chump change).
Need an EV for daily and weekend activities that are less than 200 miles round trip: Ioniq, Ariya, etc. These are 5-passenger vehicles. Mercedes EQB has a kid-only third row.
TLDR there’s nothing that can do both in practice, not yet anyway. And certainly not at any price point that makes sense. Just accept that reality.
The Telluride has always been possible to get at or below sticker since its introduction
Anyway that’s really besides the point. It’s an arbitrary number. Whatever amount of money that leaves your net worth is really the consideration, not whether you are below or above some arbitrary line.
It doesn’t come from the factory with lojack, it’s installed at the dealer by a third party. One of the installation method splices into existing wiring.
I think it was Nissan, but I can see Kia doing this. I remember reading a post somewhere recently where they had them take out the Lojack because they didn’t want it. They later had electrical issues, and Nissan wouldn’t honor the warranty due to the work done installing/uninstalling the Lojack. Even though it was the dealer’s doing. I don’t remember the exact details, so take it with a grain of salt.
Yes I couldn’t believe people in nj were paying 5-10k over for the first ev9s. I had orders from the start for msrp. Now im 2k off. I’ve sold under 5 if I recall correctly
