Is There A Fire Sale on Used EVs?

  • June 12, 2024
  • 2 min read

Used EV Market Dynamics
Oh man, our used EVs are starting to be can’t give them away. Here’s a, um, huge sale on used, uh, her, um, Teslas from Hertz. 25,000 bucks, and they have too many of them. They’re dumping them into the marketplace.

Price Drop on Formerly Expensive Vehicles
These are cars that were 50-60 grand not just a few years ago, and they have to get rid of them. No haggle, $25,000 price. Does this make a used EV, a Tesla, cheap enough for you to consider it? I don’t know.

Supply and Demand Rule
Right, um, at some point, if there’s not enough demand, it’s the old supply and demand rule. The price has to come down to sell them. And unlike a consumer selling a car or an individual selling a car that can just wait it out or keep it, Hertz can’t keep these cars.

Hertz’s Inventory Challenge
You know they have tens of thousands of cars that need to get rid of and dump them. They got to make the price low enough to get the car sold. They have to. If they don’t, the car sits there, and they lose money on it.

Battery and Title Considerations
Just make sure you get a good battery inspection, a checkout of the battery. Make sure that you, um, make sure that the title is clear.

Potential Benefits of a Used EV
But consider this as maybe a second vehicle. I mean, where else can you get a late model $25,000 car anymore? It’s going to be good on economy because you don’t have to put gas in it.

Suitability for Your Lifestyle
As long as it matches your lifestyle and you’re not going to have to worry about any repairs or maintenance or dead batteries, uh, it might be something to consider. If you’re willing to accept an EV at all, which not everybody does at this point.

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