The Expert Podcast

Wow, even CNBC, the stock market channel, the business channel, is getting in on the EV price crash craze. Used EV prices keep getting deeper. So, this is June, middle of June 2024. I don't know when you're watching this, but it'll be interesting to see how much worse it got. We've talked in prior videos about the fact that we believe used Teslas are going to be down around $10,000 within the next year compared to the same style, size, and trim level of gas vehicles. EVs are now cheaper in the used car market.

If you're looking at an EV, you might want to consider unless the reason that others think it's less valuable is the same reason you think it's less valuable—maybe due to range or your use case, charging constraints, or long-distance needs.

If you're looking for a second vehicle, just a commuter car around town that doesn't need long-distance capabilities, consider a used EV if you can get one dirt cheap. For commuting or running errands, it may justify the cost savings and lower maintenance.

Remember, the battery is a ticking time bomb. Ensure a thorough battery check-up and analysis of remaining range and lifespan before purchasing a used EV. Despite the price crash, it's crucial to make an informed decision.

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