this post was submitted on 16 Jun 2024
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[Dormant] Electric Vehicles

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Why do used electrics drop so quickly in price? (self.evs)
submitted 5 months ago by root to c/evs
35 comments fedilink hide all child comments
 

It's been years since I've checked the used electric market, but I'm seeing cars like the Hyundai Ionic 6 or Polestar 2 for low 30s, where as they were in the high 40s or mid 50s new a year ago.

My suspicion is that:

  1. Normal car depreciation when driven off the lot
  2. General fear of batteries wearing down prematurely, even if the car has ~10k miles
  3. Any applicable federal rebates or otherwise have already been claimed and can't be claimed on used vehicles(?)

Is there any other reason why these drop so quickly? Would buying one be considered foolish in anyway?

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[–] LesserAbe 2 points 5 months ago (1 children)

Besides the reasons others have commented, for the Polestar in many cases the closest service center is 100+ miles away. I was looking at a used one and got a different EV for that reason.

[–] root 2 points 5 months ago (1 children)

Great point! I'll have to look into this more. What did you end up getting?

[–] LesserAbe 1 points 5 months ago

I got a 2023 Chevy Bolt EUV, with 5k miles on it. I know, really a different category than the Polestar, but the only reason I was considering it was because the used ones were pretty affordable. I really like the way the Polestars look.