Yet another reason not to buy an electric vehicle. Those batteries are the problem, still very expensive with all those rare earth metals in them. I expect we will end up like Cuba with many of us still driving second-hand petrol and diesel vehicles long into the 21st century, until someone comes up with a really good answer to the battery problems.
I picked this car up used. People are really happy with their Teslas
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2015 Tesla Model S
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Someone else bought my car new and took the hit on depreciation. I saved myself about $35,000 compared to a new price. Last time I checked during the pandemic, my used car maintained its used car value that I paid.
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Luxury vehicles tend to lose value faster because of their high-tech features and high price tags. Second-hand buyers don't always have the same level of enthusiasm about those features, which can impact used prices.
It's the fear of having to replace the battery that will make EVs hard to sell as they are very expensive.
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