Navigating the Used EV Market: What to Watch Out For?
Download MP3Overview:
- The used electric vehicle (EV) market is volatile, with prices dropping daily.
- Some cars have a "shelf life" of only a few days, meaning prices are constantly changing.
- Rumors suggest that Tesla is paying leasing companies to cover shortfalls in residual value, meaning leased cars are worth less than expected at the end of the lease.
Key Points:
- Used EV pricing is highly unpredictable.
- Be cautious when purchasing a used electric vehicle, and thoroughly check the condition of the car.
- Recent EV models experience 79% more problems than gas-powered cars, according to Consumer Reports.
- Testing the battery can be challenging, so it's essential to have a professional EV checkup.
- The used EV market is risky due to potential mechanical and valuation issues.
- However, with careful research and negotiation, savvy buyers can find great deals on used electric vehicles.