$7500 fed tax rebate vs. incentives/ low used EV prices

[PMurphy]

I have been watching both new and used EV prices and realized that right now may actually be the best time to buy an EV.

The EV tax credit had some significant strings attached that prevented many from claiming the full amount.

EV manufacturers have recently rolled out some lucrative incentives/price reductions that nearly match or even exceed the value of previous tax incentives.

Even more attractive are used EV prices. Looking at Auto Trader et al. many low milage EV’s are offered at 35% plus below the original window sticker price (I believe there is room to negotiate below the asking prices!).

Why not jump in?

Over the next 2 years projected EV blue book values are projected to continue to fall at up to 20% per year (almost guaranteed by the large pool of leased EV’s that will be hitting the used market).

The technology on first gen used EVs is already starting to look dated.

Other EV’s are not a Scout.

For now I will watch the market play out and IF the right deal comes along I may jump on it while I wait for Scout to build me the EV that I really want. Thoughts??

 

[Roger 123]

I have been watching both new and used EV prices and realized that right now may actually be the best time to buy an EV.

The EV tax credit had some significant strings attached that prevented many from claiming the full amount.

EV manufacturers have recently rolled out some lucrative incentives/price reductions that nearly match or even exceed the value of previous tax incentives.

Even more attractive are used EV prices. Looking at Auto Trader et al. many low milage EV’s are offered at 35% plus below the original window sticker price (I believe there is room to negotiate below the asking prices!).

Why not jump in?

Over the next 2 years projected EV blue book values are projected to continue to fall at up to 20% per year (almost guaranteed by the large pool of leased EV’s that will be hitting the used market).

The technology on first gen used EVs is already starting to look dated.

Other EV’s are not a Scout.

For now I will watch the market play out and IF the right deal comes along I may jump on it while I wait for Scout to build me the EV that I really want. Thoughts??

Wait two more years and you'll get a used one for 75% off.

It's nice to see that with the tax stuff gone the price is no longer artificially inflated and you can just deal with the manufacturer and keep the .gov out of the transaction.

 

[joewilk45]

Time is not everyone's friend why wait when you can start smiling now

 

[ELaBillski]

I have been watching both new and used EV prices and realized that right now may actually be the best time to buy an EV.

The EV tax credit had some significant strings attached that prevented many from claiming the full amount.

EV manufacturers have recently rolled out some lucrative incentives/price reductions that nearly match or even exceed the value of previous tax incentives.

Even more attractive are used EV prices. Looking at Auto Trader et al. many low milage EV’s are offered at 35% plus below the original window sticker price (I believe there is room to negotiate below the asking prices!).

Why not jump in?

Over the next 2 years projected EV blue book values are projected to continue to fall at up to 20% per year (almost guaranteed by the large pool of leased EV’s that will be hitting the used market).

The technology on first gen used EVs is already starting to look dated.

Other EV’s are not a Scout.

For now I will watch the market play out and IF the right deal comes along I may jump on it while I wait for Scout to build me the EV that I really want. Thoughts??

Not such good news if you like to buy and keep cars as investments. I don't think any of the EVs would qualify as investments though since they seem to go EOL after the battery ages out.

 

[joewilk45]

What happens to an ice vehicle with 100 k it may need a new transmission or engine rebuild or replacement what's that cost today 10 / 15 k what's a battery replacement after 15 yrs now it's predicted to be about same but buying an EV today replacement of battery in 15 yrs with technology progressing I personally thinks it's not an issue and will be much cheaper than current cost. But then again I am applying actual data and commonsense so that my confuse some.

 

[joewilk45]

And something else to consider a new engine or rebuild transmission etc give you a one year warranty battery and terminal replacement gives you 8 yrs so who's winning the long game here Ice or EV's

 

[Roger 123]

What happens to an ice vehicle with 100 k it may need a new transmission or engine rebuild or replacement what's that cost today 10 / 15 k what's a battery replacement after 15 yrs now it's predicted to be about same but buying an EV today replacement of battery in 15 yrs with technology progressing I personally thinks it's not an issue and will be much cheaper than current cost. But then again I am applying actual data and commonsense so that my confuse some.

Not sure what data you are using for 100K engine replacements in a modern well maintained car but that seems a bit low to me.

Nothing wrong with EV's, people that have them seem to like them. Except my daughter, she hated her hybrid Honda, thing made the weirdest noises, sounded like some sort of goofy spaceship, she dumped it for a gasser.

Anyone buying a modern mass produced car as an investment may need to re-think their position. Buy what puts a smile on your face, unfortunately, that's not always the best financial decision, but as long as you're funding your retirement accounts enjoy the ride.

Buy what you like and drive the wheels off it!

 

[PMurphy]

Was reading known issues with Hummer EV’s. One poster indicated GM did a battery replacement on his truck and work was done in 1 day. Wasn’t sure how long this would take?? Obviously won’t be cheap BUT a battery replacement is at least feasible.

If/WHEN battery change is required hoping that an update to newer chemistry could be done.

 

[Mr._Bill]

Was reading known issues with Hummer EV’s. One poster indicated GM did a battery replacement on his truck and work was done in 1 day. Wasn’t sure how long this would take?? Obviously won’t be cheap BUT a battery replacement is at least feasible.

If/WHEN battery change is required hoping that an update to newer chemistry could be done.

Not likely to happen. Updating the chemistry requires Updating the software in the vehicle. Manufacturers are in business to sell new products. There is not a lot of money in keeping the old ones running. The R&D money is going to go into new models, not Updating the old ones.