The Expert Podcast

• Due to a severe shortage of new cars from 2020 to 2023, the availability of used cars has significantly decreased.
• Fewer new cars being sold means fewer used cars entering the marketplace, making it harder to find good deals on used vehicles.

• According to the New York Times, used EVs have fallen sharply in value, creating potential deals for buyers.
• Higher supply of used EVs is due to many people buying them as secondary vehicles or purchasing more than they actually need.
• Government incentives still exist in many states, offering benefits for purchasing used EVs.
• Example: The climate law introduced a tax credit of up to $4,000 on used EVs.

• Used battery-powered vehicles are 28% cheaper than they were a year ago, while regular used cars are only 7% cheaper.
• Used EVs are a more affordable alternative to new ones, which may be out of many buyers’ price ranges due to high costs.

• There could be future taxes on EVs charged by the mile instead of by the gallon.
• Some states are considering this change to replace the current fuel taxes, which are decreasing due to the rise of EVs.
• While this may affect EV owners in the future, it’s not yet a widespread issue.

• If you’re in the market for a used car and can’t find a good deal on a gasoline-powered vehicle, consider a used EV as a viable and affordable option.