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36,877 Views • Mar 12, 2024 • Click to toggle off description
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#electric #price #car
Views : 36,877
Genre: Autos & Vehicles
Date of upload: Mar 12, 2024 ^^
Rating : 4.762 (83/1,312 LTDR)
RYD date created : 2024-05-11T02:43:39.972407Z
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YouTube Comments - 465 Comments
Top Comments of this video!! :3
It is a correction for inflated prices to start with after price increases with covid supply chain issues. I bought one of the first 5k model y’s for 49,900 in 2020. Then the prices shot up by like 10k for a couple years. Now I just bought a new 2024 model y same dual motor configuration for 38k after 7500 tax credit and 1000 discount for having a cybertruck order…so used prices have to adjust or everyone will just buy new
68 |
I guess I'm weird. My car buying decision isn't based on future value guesses/depreciation. It's a depreciating asset. I buy for what best fits my needs at a price I can afford now. I also tend to drive a vehicle a long time before selling/trading it. At that point, most everything has significantly depreciated. It really only matters if you trade often or you're a fleet/rental car buyer.
36 |
Isn't this what we wanted from the beginning, this is great news guys prices are coming down.
29 |
Weird this is getting negative press, a few years ago they were like "in a few years these will be affordable! It'll be great"
Now theyre getting more affordable, so the chronic whiners smoothly transitioned to complaining about how little EVs sell for.
Some people are ready and willing to complain about both sides of the same issue.
134 |
Aren't falling prices a good thing?
57 |
I think the is a well needed correction after COVID. Hard pill to swallow for owners of newer EV's but great bargains to be had.
41 |
The rental EV's being dumped into the market pushed prices down.
23 |
Just picked up a 2019 Bolt EV 1 owner 40k miles. Florida. Paid $13,500 and received the used EV tax credit meaning final car price was $9,500 before taxes & fees. Absolute steal! Just had the battery replaced a few months prior so it's basically a new car underneath.
Very happy with my purchase and it's an awesome commuter car.
27 |
I fully expect EV prices to stabilize and potentially increase again depending on gas prices - that's the big unknown here... Even though I've lost value on my EV6, I'm actually happy that prices have dropped for EVs, as it makes them more affordable for a larger percentage of the population. Having said that, when I bought my EV6 two years ago I fully expected to own it for 8 to 10 years. As such, the current price of EVs are irrelevant for me.
19 |
Cars are depreciating assets get over it they aren't investments.
11 |
A correction had to happen. In 2022 I sold a Chevy Malibu to CarMax for more than I paid for it after driving it for 43 months. That was a once in a lifetime experience and I expect used cars to get back to normal.
7 |
This is great news. More people can afford EVs.
The other thing to keep in mind is that more affordable EVs have been hitting the market. At one point an EV cost you $100k now you can get entry level EVs for much less. As those it the used market we see drops in the mean.
Also, as you point out, Tesla dropping new prices affects resale. Teslas are the market drivers right now.
EVs were launching new during pandemic and supply shortages. Used sales were above new. This clearly didn’t make sense and as a result we are seeing a return to normalcy.
Lastly we have media telling people that no one wants EVs and that the batteries will need replacing at 6 years for $60k. People generally aren’t critical thinkers and are happy to just take headlines at face value.
So in summary. Great news for savvy EV buyers willing to buy 1-3 year old vehicles.
38 |
I bought a 2017 BMW i3-REx, August 2023, for $15,000 and consider it a steal. Bought from a Toyota dealer in Florida, they didn't know what they had. My benchmarks show 106 mi EV range and 88 mi gas. With a short wheel base and high power to weight, is the perfect urban car.
As for my 2019 Tesla Model 3 Std Rng Plus, the $6,000 Full Self Driving continues to improve and with a replacement cost of $12,000, it makes it too valuable to sell. It has over 129,000 mi and ~10% battery degradation, 240 mi down to 215 mi.
8 |
So an EV lost $14,418, but here in Colorado, the buyer received $12,500 in tax credits. My math says that the car only lost about $1900 in value.
8 |
Are the resale values weighed against original msrp or actual purchase price including rebates?
15 |
Gas vehicles are dropping at the same rate if not more. It is basic economics. Rates rise to fight rising prices. It will always ebb and flow!!!
4 |
I'm in Canada, and we don't see the same type of discount for EVs as you have seen in USA. Let me start by saying that we had already an EV rebate all along, so the prices for new EVs were already lower than the USA market. For instance, the lowest price for Model 3 (the RWD) in Canada was around $53k CAD (about $39k USD), but in certain provinces (QC or BC) this could get down to around $40k CAD (about $30k USD) before taxes (which are a little high, about 15%). So already the prices were low on the used EV (these rebates only apply to new EVs). But we don't have the same market as you in terms of volume, so this is also a factor. However, I noticed that the used Nissan Leaf and Chevy Bolt get heavy discounts, the first because of the Chademo and the second because of the fire trouble with the battery (largely solved for now, but insecurities have already played a role). Also, most models from the Korean makers are getting a little cut, but this is probably due to the imminent arrival of the NACS plug. Tesla had a little less drop in price than in USA, since we didn't have the benefit of Hertz showering the market with used cars.
For instance, the cheapest Bolt I could find was around $17k with a very high mileage, but a mildly used one costs only 18k (all prices in CAD)
The Leaf 2nd gen (so 2018 and up) is sold at $13k with high mileage (out of warranty), while $16k is a more common price for a car with the battery still under warranty.
As for the Tesla Model 3, the cheapest I could find is around $22k CAD, with very high mileage and a very old one at that (2018). A newer better model is around $27k.
I forgot to mention that in some provinces there is a small rebate (up to $3.5 k) for a used EV under some conditions (year and range), and that will keep the prices up a little (deals to be made, right?)
9 |
I just ordered a new model Y because I thought people wanted too much for their used Tesla's. I pick it up this Saturday. 😎
2 |
It’s the inflated prices of EVs back then, a Ford lighting was selling for 100k and now no one wants them, they just keep stock piling them up in dealer lots.
4 |
@danharold3087
1 month ago
Are we car flippers or consumers. We should be glad to see new and used auto prices dropping.
182 |