Interesting - dealers turning away from EVs.
- Thread starter loneryder
- Start date
No surprise to me. Friends here that are in the business of selling cars don't want EV trades, so I can see the point made in the article. There are regions where EVs are not loved like they are in other regions.
I mean, EV's are more expensive up front even though they save money down the road. With interest rates and inflation where it is, though, many people are stressing that up front cost. The luxury car segment also has taken a hit, so we know it's not "EV" motivated, but price tag motivated.
No surprise with interest rates being so high. I suspect it's not just softening of EV's but all vehicles within a particular price range.
Buying any car is stupid right now if it requires borrowing money. Money isn't as cheap as it used to be.
Buying EV is a speculation about battery depreciation cost vs fuel cost vs resell value vs electricity cost, it is almost impossible to predict 10 years ahead of time what would happen. If you want a safe bet get a 2nd gen Prius with a replaced OEM battery or stashed some money in anticipation for it. That's the only guaranteed cheap vehicle with proven fuel saving and predictable depreciation and reliability.
Buying a Tesla is different than buying a Nissan Leaf, they both have their own problems and uncertainty. You know Leaf is going to have a bad battery every 6 years or so, and you know they will be cheap and worth nothing when the battery is worn out. Tesla is a speculation between depreciation of its coolness and the uncertainty of whether you can get a cheap battery replacement down the road, and whether it is going to be depreciated badly due to new ones being much cheaper.
The biggest fail in EV would be Nissan's Leaf lease deal. Most buyers turn their Leaf in instead of buying them due to the battery problem and Nissan couldn't sell them without a massive loss. I think the same is happening with i3. Had Prius been an unreliable POS this would happen to it as well. Toyota made Prius the most reliable car and that's what kept its resell.
Buying a Tesla is different than buying a Nissan Leaf, they both have their own problems and uncertainty. You know Leaf is going to have a bad battery every 6 years or so, and you know they will be cheap and worth nothing when the battery is worn out. Tesla is a speculation between depreciation of its coolness and the uncertainty of whether you can get a cheap battery replacement down the road, and whether it is going to be depreciated badly due to new ones being much cheaper.
The biggest fail in EV would be Nissan's Leaf lease deal. Most buyers turn their Leaf in instead of buying them due to the battery problem and Nissan couldn't sell them without a massive loss. I think the same is happening with i3. Had Prius been an unreliable POS this would happen to it as well. Toyota made Prius the most reliable car and that's what kept its resell.
But might be cheap compared to the future
Yet-I know a Nissan Dealer and a Chevrolet Dealer here locally that has a whole section set aside for used and new EVs and several "bays" for plugging them in.
Also-where I bought my truck a year ago next month-the dealer still has a Tesla Model "X" that he took deliver the day I drove my truck off his lot and it's still sitting there-
2017 TESLA MODEL X
Price: $50,499
Also-where I bought my truck a year ago next month-the dealer still has a Tesla Model "X" that he took deliver the day I drove my truck off his lot and it's still sitting there-
2017 TESLA MODEL X
Price: $50,499
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But might be cheap compared to the future
How long have you been on Earth? Anything less than 10% or so is still cheap...historically.
The Gen 2 Prius run ended in 2009. You are recommending a car that is at least 14 years old.
True, but it was much cheaper even a year ago. I wouldn't do it now unless some part of it became a necessity. Obviously buy if you want to, but if you don't feel the urge, it's not worth diving in right now.
It could be true. We only can speculate now. I still haven't decided whether I'm going to buy a '23 GTI. My smart side who usually doesn't get much of a voice says wait, not have a car payment and buy outright a few years down the road. I feel like it's a knee jerk reaction to trade in my meticulously maintained '18 with 50k miles that still feels brand new.But might be cheap compared to the future
Interest rates will continue to increase-IMHO.
Well, I save about $5k/year in gasoline (also factoring in what I pay for electricity) right now, so unless you think gas will go down/electricity will rise faster than gas, then I don't think much work needs to go into speculating.
I've kept saying this. I got burned on my last deal. My C40 I had bought right when rates were starting to head up, at 3.8%. My EV6 GT I got into for 5.74% back in Feb. That said, not financing is stupid, so I am still glad I financed 100% of it. Rates from my CU right now are up another point to 6.74%. I would have kept the Volvo C40 had it not been such a monumental POS, but I just couldn't live with it. Absolutely no way, no how.
Well, my C40 msrped for $63k. Vroom just offered me $18k. Pay cash and total it on a deer and tell me how sad you are. Finance it, GAP, and pass liability on to the bank.