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Once even more EV's are around longer could that depreciation retroactively improve if it turns out 5 or 7 year old batteries actually aren't as poor as expecte

Once even more EV's are around longer could that depreciation retroactively improve if it turns out 5 or 7 year old batteries actually aren't as poor as expected? A gamble of course.

close04 8y ago
Not until the advances in EV tech slow down. The difference between a 2012 EV and a 2022 EV is a lot bigger than between the equivalent ICE cars. Or take 2008 and 2018 if you want a comparison that can feel unfair but accurate. And then you factor in the physical degradation of parts like the battery. An engine wears out at a far slower rate than a battery. It will probably take a few decades for EVs to be everywhere, tech to advance slower (relative), and batteries to improve.
rootusrootus 8y ago
I cannot speak for everyone else, but the thing that keeps me from buying a super cheap EV from three years ago is mostly the abysmal range. A Leaf or a 500E from 2015 has 84 miles of range. I am expecting I may have a 28 mile [each way] commute starting in a few weeks. Technically doable if nothing goes wrong, but ... range anxiety would be real. I'll wait. Just three years later we ridicule any EV with less than 200 miles of range. Maybe these will hold value better? I wouldn't bank on it, and I would only consider a new EV as a lease vehicle at this time, but time will tell.
- davidgould 8y ago
  I have a Spark EV rated at 83 miles range. I commute a few times a month from Oakland CA to San Jose, 38 miles each way so I have only 7 miles margin. This is not a problem as unless it is very cold or windy or raining. In which case I try to combine the trip with shopping in a place that has charging stations. Your 28 mile commute is easily doable with the cars you mention. I'd avoid the Fiat because Fiat, but used Leafs are pretty cheap. Or the Spark EV if you can find one. Look on plugshare.com to find charging locations so you know you have a back up plan, but don't let anxiety get in the way. I leased our first Spark EV and had exactly zero problems an d zero maintenance except for wiper blades and a minor issue that was under warranty. When the lease ran out I purchased a second Spark EV because it handles 90% of our driving and I got a great deal, $10,600 total including incentives. Even if the resale is zero after 10 years it will be 3x cheaper to own than our Honda Fit.

Once even more EV's are around longer could that depreciation retroactively improve if it turns out 5 or 7 year old batteries actually aren't as poor as expected? A gamble of course.

close04 8y ago

Not until the advances in EV tech slow down. The difference between a 2012 EV and a 2022 EV is a lot bigger than between the equivalent ICE cars. Or take 2008 and 2018 if you want a comparison that can feel unfair but accurate. And then you factor in the physical degradation of parts like the battery. An engine wears out at a far slower rate than a battery. It will probably take a few decades for EVs to be everywhere, tech to advance slower (relative), and batteries to improve.

rootusrootus 8y ago

I cannot speak for everyone else, but the thing that keeps me from buying a super cheap EV from three years ago is mostly the abysmal range. A Leaf or a 500E from 2015 has 84 miles of range. I am expecting I may have a 28 mile [each way] commute starting in a few weeks. Technically doable if nothing goes wrong, but ... range anxiety would be real. I'll wait. Just three years later we ridicule any EV with less than 200 miles of range. Maybe these will hold value better? I wouldn't bank on it, and I would only consider a new EV as a lease vehicle at this time, but time will tell.

davidgould 8y ago
I have a Spark EV rated at 83 miles range. I commute a few times a month from Oakland CA to San Jose, 38 miles each way so I have only 7 miles margin. This is not a problem as unless it is very cold or windy or raining. In which case I try to combine the trip with shopping in a place that has charging stations. Your 28 mile commute is easily doable with the cars you mention. I'd avoid the Fiat because Fiat, but used Leafs are pretty cheap. Or the Spark EV if you can find one. Look on plugshare.com to find charging locations so you know you have a back up plan, but don't let anxiety get in the way. I leased our first Spark EV and had exactly zero problems an d zero maintenance except for wiper blades and a minor issue that was under warranty. When the lease ran out I purchased a second Spark EV because it handles 90% of our driving and I got a great deal, $10,600 total including incentives. Even if the resale is zero after 10 years it will be 3x cheaper to own than our Honda Fit.