Why do used electrics drop so quickly in price?
Why do used electrics drop so quickly in price?
It's been years since I've checked the used electric market, but I'm seeing cars like the Hyundai Ionic 6 or Polestar 2 for low 30s, where as they were in the high 40s or mid 50s new a year ago.
My suspicion is that:
- Normal car depreciation when driven off the lot
- General fear of batteries wearing down prematurely, even if the car has ~10k miles
- Any applicable federal rebates or otherwise have already been claimed and can't be claimed on used vehicles(?)
Is there any other reason why these drop so quickly? Would buying one be considered foolish in anyway?
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Because of the cost to replace the batteries.
I've read that quite a few EVs have batteries where you can swap individual modules, and don't need to replace the entire battery arrangement if something fails. That seems to bring the price down significantly, especially considering you won't be spending money on oil changes, timing belts etc
If you are looking id grab one of those Hertz Tesla's for $25k
They're tempting, but Tesla's feel too sterile for my liking. Also not a fan of the center screen. I'd prefer one in front of the driver
Check out the article on CNBC about values dropping