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I find it interesting that these electric cars are dropping so much and value in the first three years. More than half. And that's on dealer resell, not the tra
by dpark 9y ago
I find it interesting that these electric cars are dropping so much and value in the first three years. More than half. And that's on dealer resell, not the trade-in value. Last time I bought a three-year-old car, the dealer resell price was about 75% of the original retail.
- cptskippy 9y agoFrom what I understand it's partially because of the uncertainty of unproven technology, and partially because a lot of people bought them for the tax breaks. Nissan didn't (and still might not) have active cooling in their batteries and was seeing high failure rates in states like Arizona. Because of this, Nissan ended up extending battery warranties to 8 years / 100,000 miles. Basically if there is anything wrong with the battery or it's capacity drops below 9 bars (starts at 12), then Nissan will replace it. Combined state and federal deductions on EVs were up to 50% of the purchase or lease price of a Leaf and could be deducted over several years. This combined with annual fuel savings when gas was $4 a gallon meant people could drive a new car for little more than the cost of insurance since Nissan was including free charging at qualified stations for 2 years. So a lot of Leafs were bought or leased and being dumped on the market now that all the incentives are drying up.