The Expert Podcast

You probably saw in the news that Herz-Renar is getting rid of their EVS. They're selling off thousands, tens of thousands, of electric vehicles, mostly Teslas, because they found out it's not really cost-effective to have these vehicles. It costs more on maintenance and repairs, and collision damage is way higher. A lot of times, these cars get totaled with just a minor accident. And more importantly, the people really don't want. Customers are not going out of their way to rent an electric vehicle. And when they're given one, even for free, not for free, for no money but no upgrade cost, they don't want it. They say no; give me a gas car; give me what I paid for; I don't want an electric vehicle. They used to try to present electric vehicles as upgrades; you had to pay more money for them. Now they can't give them away; people don't want them at all. So, CT is dumping them.

What does that mean for you if you're in the market for a used vehicle and you can accept an electric vehicle or have a lifestyle that works? These electric vehicles are going to be very, very cheap very, very soon. In fact, they're talking about some electric vehicles on the used market being $10,000. It's unheard of for any kind of vehicle. So, keep an eye on the used car listings for electric vehicles to see if there's one that might suit you that's cheap, but only if you can use it. It's not going to work for Hertz; it might not work for you either. Just make sure it works for your lifestyle, maybe as a second vehicle.