Interesting - dealers turning away from EVs.
- Thread starter loneryder
- Start date
The math doesn't work in many places no matter how long. High gas places like California are the exception. I plugged all the numbers in the government calculator and the savings was like $700 a year. So I spend $10K more to pay back in 14 years? Unlikely today's EV's will last that long anyway, assuming someone doesn't rear end and total it before then.
Not even counting the time value of money.
Gas in my rdx was $4.50/gal for 91 octane TT rated.
It got 24.2mpg lifetime.
I drive 28k mi year.
I spend $80/mo in charging my EV.
So more like $4500/year, sorry.
Ev6 GT
12 cents kwh delivered
Well, yes and no and maybe.
All new cars are expensive. EVs can be a good or a bad choice, depending on your use case, including charging, insurance, etc.
You can make the case that a lotta people buy cars they don't need. Nobody needs a Model 3 Performance, Porsche, BroDozer, MBZ, whatever.
But your point is valid. People drive fancy pants cars, lease a new one every 3 years, and wonder where their $$ went.
Not sure how you figure:
My Volvo, 2023, bought Aug of last year:
Paid $63K
Car is now worth $18K trade value. Probably $30k KBB.
If I had paid cash, I'd be out $33K if I hit a deer and totaled it.
Since I financed it, I'm just out the few payments.
I let others take the risk with assets that depreciate.
Thanks for the post. The article is dead on in the marketing area stated which is Illinois, Iowa, Minnesota and Wisconsin, but not necessarily California, where most EV sales are.
Epic Fail: Car Dealers Bolting From EV's After Learning Harsh Lessons
"The spectacular growth we've seen over the last few years cannot be sustained," one expert said. "It's just not possible."www.westernjournal.com
Fun fact: the only new car you can get is with uncertainty.... maybe Corolla or Camry hybrid would be reliable but still an uncertainty unless it has been out for a while.
Or, maybe you can buy a used car to begin with, and have the big initial depreciation done, so if it got hit and totaled you get a replacement car or similar value in cash?
You don't have to have payment equal uncertainty. I bought my last car with cash, then saw a CU deal in 2015 for 1.5% loan for new car for a 2 year loan. I took out the loan and use it to refi my mortgage (3%), saving 1.5% in return. Sure if it gets totaled I will be up side down but that's not how I look at it, I look at it as a free 1.5% return investment and I paid for my car in cash, and let my insurance company replace the car for me if it gets totaled. To me it was no uncertainty and no risk of any kind.
I don't have a problem buying used cars except I prefer new ones. Worth it to me.
Wait, so a car you hate and just bought last year cost you $50k all-in during that 12 months? I’d never bet on cash purchase getting 66% higher than KBB. And even if I paid cash for the vehicle purchase, I’m still having full coverage on my primary vehicle; liability only on my “extra” Subaru. If I’m going to get soaked on rates, you can bet I’m going to extract every dollar while I can
You need to train service staff and invest a bundle in new equipment to service an entirely different technology. A technology that, for everyone but Tesla, has few voluntary customers.
For a dealer, committing to EV sales and service now seems like flushing money down the crapper.
For a dealer, committing to EV sales and service now seems like flushing money down the crapper.
Yeah. I just bought a 24 year old truck. The new stuff sucks.
Reality is we now have Ford pickups taken down with tail led lights full of modules causing no start conditions.
I don’t believe repair is more difficult on EVs vs overloaded truck/SUV and luxury models.
