Over the last few months, I’ve heard car dealers, articles and comments in this sub that say EVs are depreciating very quickly. Are any of you actually seeing this? When I shop the used market, the prices I see end up being worth something like $0.10 per mile on the car if you factor in the fact that new vehicles get the tax credit and used ones don’t. Well, at least most of them don’t, since it has to be under $25,000 to qualify for the used EV credit.
If they’re depreciating so fast, I’d love to find those deals!
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Tesla.
Dropped prices like crazy on the top end.
$7.5K Tax credit was massive for the model 3 on top of sometimes hefty inventory discounts.
Used prices for it have dropped by a huge amount to account for that.
There’s an EV credit for buying used EVs, about ½ the new car credit, which should help offset that.
One major factor is that Tesla’s been using their efficient manufacturing to drive down prices and grow market share, making money at prices that force the legacy car companies’ EV sales to lose money. So while historically Teslas retained used car values incredibly well, these days as they drive down new car prices, that pushes down used car prices.
The rescrictions are way too harsh. 150k individual 300 joint. Most people paying 40-50 on a car should be over that limit
These days the average new car sale is $48k. That’s why the average car loan to buy them is over 68 months!