this post was submitted on 16 Jun 2024
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Electric Vehicles

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Why do used electrics drop so quickly in price? (lemmy.world)
submitted 4 months ago by root@lemmy.world to c/evs@lemmy.world
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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:

  1. Normal car depreciation when driven off the lot
  2. General fear of batteries wearing down prematurely, even if the car has ~10k miles
  3. 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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[โ€“] Grayox@lemmy.ml 6 points 4 months ago

Paid 40k for a used tesla in 2020 with 35k miles. (The EV was purchased new for 60k in 2018) The car is currently at 131k and going strong, dont even think about battery degradation being an issue worth addressing because there are new Chargers popping up all over the place. Plus the fact that EV roadtrips are much quicker and cheaper when you avoid long charges and charge just long enough to make it to the next charger. Love the fact that used EVs are getting so affordable, just wish folks would realize how much more realible an EV is compared to combustible engines. Plan on driving our car into the ground, even if the car only goes 100 miles on a full charge, that would be more than enough imo. So glad folks can get the same product as me for half the price and never visit a gas pump for the rest of their life.