Shocking Costs: Why Used EV Batteries Could Set You Back $30,000
Download MP3 In this episode, we discuss the importance of evaluating the health of an electric vehicle (EV) battery when buying a used EV.
Key Highlights:
- A case where a customer bought a used EV, only to find out shortly after that it needed a new battery costing $26,000.
- Additional costs for labor and taxes brought the total repair cost to approximately $30,000.
- The car in question had 70,000 miles on it, but the battery warranty had expired since the vehicle was a 2014 model, well past the 8-year or 100,000-mile warranty period.
Important Questions Raised:
- With used EVs, what happens when the battery needs replacing, especially after the warranty expires?
- Will electric vehicles follow a trend similar to cell phones, where you just replace the whole device instead of repairing it?
- Will this shift in EV repair costs affect the used car market and the way people buy and sell cars?
- Will it add a new financial burden for people who buy cars to keep long-term and lower their automotive expenses?
Discussion Prompt:
- We’d love to hear your thoughts! How do you think the future of used electric vehicles will unfold? Will it become more expensive, or will there be better solutions in the future?
- Let us know in the comments!
