Over the last few months, I’ve heard car dealers, articles and comments in this sub that say EVs are depreciating very quickly. Are any of you actually seeing this? When I shop the used market, the prices I see end up being worth something like $0.10 per mile on the car if you factor in the fact that new vehicles get the tax credit and used ones don’t. Well, at least most of them don’t, since it has to be under $25,000 to qualify for the used EV credit.
If they’re depreciating so fast, I’d love to find those deals!
The fact you’re pointing out what a bad deal those used listings are pretty much points to the used market needing to correct downwards.
Bear in mind, the visible used market listings are what people are hoping to get, not what they are getting.
If people are still pricing their cars as though it’s 2022, they’re going to be higher than real market rate, and they’re going to be up for longer - making them more visible. But they might not actually be selling.
More likely you’ll see a gradual widening of listing price vs sale price first, then as that gap widens, the listings gradually correct to reflect the real baseline dropping.
I’d wager you’d be in a good position to negotiate or walk away on most listings as long as there’s not some weird shortage of something you’re specifically looking at in the market.
tl;dr: perception lags reality.