EVs Lose Resale Value Fast, But Not Tesla

EVs are depreciating much faster than the average for all cars. The only exception is Tesla, whose vehicles hold values better than their gas-powered rivals.

The average new electric vehicle loses 56.6 percent of its original value in three years, according to the car-deal search engine iSeeCars. The average among all kinds of vehicles is 38.2 percent of depreciation over three years.

The depreciation is from its sticker price, so it doesn’t include things like a potential EV tax credit of up to $7,500—which not every buyer may be able to claim.

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Wow I didn't know this. I knew teslas held their value for a long time. And for good reasons such as the drivetrain  lasts forever in an electric car. And most of them live in a garage the majority of their life plugged into a wall and never get used in the snow. With low mileage because they are mostly used as town putters.   So they would last a long time and re sale higher. Especially the first teslas with lifetime free charging. Thos bad boys will be worth millions as classic EV,s some day.  

 

But the batteries  are the killer.  an old tesla with a replaced battery would re sale for much higher. Is it dollar for dollar higher if you replace the battery? I dont k omw if we even know for sure yet. I would estimate you could get at least 70 cents on the dollar back in re sale by replacing the battery.

 

Unlike houses which you typically get 50 cents on the dollar back when you renovate. 

 

And as a person who has an EV lawn mower (poor mans tesla) that cost $600 instead of $200 for a gas one, I bought it because it's cool, its convenient, and works good, and to virtue signal to my neibours that I am better then they are. 

 

And it was VERY EXPENSIVE and does not save the planet. EV's are wealthy peoples toys and are the same category as an RV or a boat. You dont NEED the damn thing, but it's fun to have. 

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