Used Electric Car Prices Start To Slowly Rise

[TMC Staff]

Larry Dixon of J.D. Power says price increases “quite extraordinary.” For years, electric vehicles have had relatively low resale value for a variety of reasons. Used electric vehicles are typically priced with the $7500 federal tax credit baked in. The plug-in market is also rapidly improving. First gen electrics such as the Chevy Spark EV...
[WPURI="https://teslamotorsclub.com/blog/2019/01/01/used-electric-car-prices-start-to-slowly-rise/"]READ FULL ARTICLE[/WPURI]

 

[pipestem]

True. It’s good news. As a 2015 leaf owner I was charting prices carefully and noticed this also. There were times when Nissan was giving a 10k discount in addition to the 7.5k credit, so used prices were badly depressed. That’s when I bought. After that ran out then the used prices were rising. I did well on my trade in for a model 3.

 

[KnoxEVfan]

True. It’s good news. As a 2015 leaf owner I was charting prices carefully and noticed this also. There were times when Nissan was giving a 10k discount in addition to the 7.5k credit, so used prices were badly depressed. That’s when I bought. After that ran out then the used prices were rising. I did well on my trade in for a model 3.

Exact same thing happened to me with my 2015 Leaf. Tesla made a surprising offer when I ordered my M3.

 

[pipestem]

Exact same thing happened to me with my 2015 Leaf. Tesla made a surprising offer when I ordered my M3.

Yeah I was pleasantly surprised. Checked Carmax and it was the same, but without trade in tax benefit. All in all good timing and experience.

 

[Cirrus MS100D]

While I'm inclined to believe this, my eBay alerts for FIAT 500es seem to indicate they're still insanely cheap and a 20% increase on insanely cheap, is still insanely cheap.

I picked up my 2014 in 2018 for $8200 with 11,000 miles (which I humbly admit was a great deal...) But I really don't think most people can wrap their heads around "about 100 miles of range," even though for most people it's more than enough for a daily driver, and thus these prices for "around town" EVs are going to continue to be low, especially with new models on the horizon with better "replace my ICE" capability.

 

[ItsNotAboutTheMoney]

Must ... accept ... split ... infinitive.

Maybe it's being affected by Californians wanting used PEVs to get HOV lane stickers.

 

[wws]

Must ... accept ... split ... infinitive.

Maybe it's being affected by Californians wanting used PEVs to get HOV lane stickers.

Thing is, quite a few of those HOV stickers expired yesterday. (Including the ones on our Volt. ) One would think there will be even more bargains soon - not rising prices.

 

[whitex]

Or it could simply be inflation. The i7-6900K CPU I bought a in March 2017 for $949 is now $1,287 - same CPU, now almost 2 years older. The US economy has been going hot (except the correction at the end of the year) and the US government "printed" billions since 2008 which should have caused inflation but didn't, so it may be a delayed effect.

 

[bhtooefr]

Thing is, quite a few of those HOV stickers expired yesterday. (Including the ones on our Volt. ) One would think there will be even more bargains soon - not rising prices.

I believe it'd mean that used EVs not registered in California will appreciate (as people import them from other states to get something still eligible for a sticker), whereas used EVs in California will depreciate (and be exported to other states that don't care).

 

[ChristenHoer]

I believe these prices are rising because of the uncertain costs of oil? Markets are very unsure in the entire world — strong chances of wars. Powers are shifting.