Huge Discounts On Used EVs?

  • February 22, 2024
  • 2 min read

You probably saw in the news that Hertz Rental Car is getting rid of their EVs. They’re selling off thousands—tens of thousands—of electric vehicles, mostly Teslas. But why?

Cost Inefficiency and Maintenance Woes
Hertz discovered that maintaining these electric vehicles isn’t as cost-effective as they initially thought. Maintenance, repair, and collision damage costs are significantly higher compared to traditional gas-powered cars. Even minor accidents can result in these EVs being totaled.

Customer preference and demand
Moreover, customers are simply not interested in renting electric vehicles. Even when offered at no additional cost or upgrade fee, customers consistently opt for gas-powered cars. The perception of electric vehicles as upgrades has shifted, and now they can’t give them away.

Implications for the Used Car Market
So, what does this mean for potential buyers in the used car market? Well, if you’re open to considering an electric vehicle and it fits your lifestyle, you’re in luck. These electric vehicles are about to flood the market at exceptionally low prices. Some are even expected to drop to as low as $10,000.

Considerations for Buyers
However, before you dive into purchasing one of these cheap electric vehicles, consider whether it aligns with your lifestyle and needs. Just because it didn’t work out for Hertz doesn’t mean it won’t work for you, but it’s crucial to ensure it suits your requirements. Perhaps it could serve as a secondary vehicle rather than your primary mode of transportation.

Conclusion: Keeping an Eye on the Market
Keep a close eye on the used car listings for electric vehicles if you’re in the market for a new ride. The prices are likely to plummet, making them an attractive option for budget-conscious buyers. But remember, affordability isn’t the only factor to consider; suitability for your lifestyle is equally important.

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