You're Being Lied to About Electric Cars

[easyrider]

Statements like that make it sound worse than it is. Most of the price drops were historically due to falling new car prices, which directly impact used car prices of course. We saw some of that with our 2023 MY LR trade-in, since we paid 60k for that vehicle alone (without FSD), with just one added option (an upgraded wheel/tire package). That same vehicle starts at $48k today. The challenge with statements like three times faster, is they never provide the rate of depreciation upon which that statement is based. If its 1%, then it's 3% for example.

I think I said this previously, but my recommendation is to find a 2023+ Model Y with AI4 FSD computer. 2023 models have the upgraded comfort suspension, the Ryzen CPU processor as opposed to the Intel processor (important for various software features), and a few other enhancements from a minor refresh in Q1 2023. AI4 came long in the second half of 2023 calendar year. If you could care less about FSD then that's not important, but word to the wise, I've had so many people who said that, and then they actually experience it, and want it, and come to find out that their HW3 computer doesn't run the current FSD versions, and while definitely worthwhile, it's not as good as AI4 FSD equipped vehicles, and the delta is likely to increase over time, not decrease.

I'm going with the prices I see at auctions, craigslist and car resale sites like car gurus and the Tesla prices have been taking a beating. Tesla isn't the only brand taking a beating but it is the EV brand I'm paying attention to. It might be that the depreciation doesn't factor in the incentives but only focuses on the MSRP meaning the $50,000 Tesla new may have actually had a cost of $40,000 if Municipal and Federal incentives were included.

I've actually seen a few 2021 Tesla Model Y's with under 50,000 miles priced below $22,000. I think the incentive is $2500 and no sales tax so it would come in under $20,000. My thought is Tesla's do bottom out on the depreciation at a certain point and $20,000 might be close.

Bill

 

[HitchHiker71]

I'm going with the prices I see at auctions, craigslist and car resale sites like car gurus and the Tesla prices have been taking a beating. Tesla isn't the only brand taking a beating but it is the EV brand I'm paying attention to. It might be that the depreciation doesn't factor in the incentives but only focuses on the MSRP meaning the $50,000 Tesla new may have actually had a cost of $40,000 if Municipal and Federal incentives were included.

I've actually seen a few 2021 Tesla Model Y's with under 50,000 miles priced below $22,000. I think the incentive is $2500 and no sales tax so it would come in under $20,000. My thought is Tesla's do bottom out on the depreciation at a certain point and $20,000 might be close.

Bill

It’s certainly possible that the tax incentives and rebates may skew prices. I’ve not read anything or performed any due diligence on this specific topic just yet.

Keep in mind for any EV under $25k there’s also a $4000 federal tax credit still in place, if you qualify for it of course. That’s on top of your state incentives.


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