Trade in Value

[J5hort]

Hold on to your hats guys I was just offered $33,700 for my 2021 Mach E Premium with 5.1 K miles in perfect condition by an Audi dealership in Fremont for a trade-in of one of their electric vehicles. The value of these cars has gone in the toliet! GEEZ (The Sales GM was blaming Elon and Jim Farley for the price cuts!)

Dealer!

Try Carvana or Vroom for an instant value. A look at KBB.com may also be a good reference. My guess is that you could get more from a private party than that.

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[leeman]

As the demand declines the prices decline.

 

[J5hort]

As the demand declines the prices decline.

Yup, economics 101, a decrease in demand with supply staying the same, means a demand shift to the left on the classic supply/demand econ map (/=supply, \=demand). An increase in supply along with that will also cause even lower price.

So current owners who want to sell would hope for increased demand and/or decreased supply. Prespective 1st time owners probably like the current conditions.

 

[DennisD]

Yup, economics 101, a decrease in demand with supply staying the same, means a demand shift to the left on the classic supply/demand econ map (/=supply, \=demand). An increase in supply along with that will also cause even lower price.

So current owners who want to sell would hope for increased demand and/or decreased supply. Prespective 1st time owners probably like the current conditions.

It appears that EV's are priced similar to many electronics that you buy. If you want something better for around the same price, simply wait a few months and your wishes will be granted.
If you want the "same thing", then you wait a few months and pay much less. I am guessing due to the everchanging technology compared to the ICE counter parts, the EV's will see a much more depreciated value as time goes on. As EV's catch on, ICE will surely see a large drop as well. I am thankful that I paid no ADM. Those people are really going to feel the pain when they do eventually trade in their "Relic".

Unlike the previous two years, I would expect to see a marked decline in the value of any used EV.

 

[J5hort]

It is all relative. Selling existing EV lower to get a new one that is now lower is a wash. Unless you paid crazy markup. The Fed and State credits/rebates help. 1st time buyers may benefit most.

I'm about a year away from selling my Select... I'll need about $26K for it to cover rest of option.

 

[DennisD]

It is all relative. Selling existing EV lower to get a new one that is now lower is a wash. Unless you paid crazy markup. The Fed and State credits/rebates help. 1st time buyers may benefit most.

I'm about a year away from selling my Select... I'll need about $26K for it to cover rest of option.

Couldn't agree more. Once again, if you compare it with electronics you will take a blood bath if trading them often.

My suggestion (just like when I purchase a TV), is to not tempt to look at the today's price but rather look at least 3-5 years down the road before tempting to trade it in for a newer cooler ride!!

 

[voxel]

It appears that EV's are priced similar to many electronics that you buy. If you want something better for around the same price, simply wait a few months and your wishes will be granted.
If you want the "same thing", then you wait a few months and pay much less. I am guessing due to the everchanging technology compared to the ICE counter parts, the EV's will see a much more depreciated value as time goes on. As EV's catch on, ICE will surely see a large drop as well. I am thankful that I paid no ADM. Those people are really going to feel the pain when they do eventually trade in their "Relic".

Unlike the previous two years, I would expect to see a marked decline in the value of any used EV.

Some EV owners... cough, Lyriq, cough... think EVs won't depreciate much and thus paying ADM/markup is okay.

The only EV that I think may retain value is the Bolt or low-trim MINI electric (because it was so cheap with the tax credit)... mainly due to how they are priced relative to gas equivalents.

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