We found a 2023 Hyundai Ioniq 6 SEL sitting on a California car lot for $13,995, which is under a third of the $45,600 MSRP that Hyundai wants for a new one. We Can’t Find a Catch on the Listing So, what’s wrong with it? Honestly, not much. It shows a clean title, and the […]
Brutal depreciation… but also a really great market for used EV buyers.
I’m quite happy with my decision to lease (Ioniq 5). Leaves me with a win win decision at the end of the term.
This is an odd example to write an article on though. “We can’t find a catch,” they say. Mate, 95,000 mi is like 8x the typical mileage on a car by year. It might as well be 8 years old, which makes the pricing much more reasonable.
If the car will make it to 200,000 miles, you’d expect a used one with 95,000 miles to be worth ~50% of original sales price.
And that’s just the baseline. Some vehicles hold value exceptionally well, like my Toyota Tacoma, the used prices are absurd, it’s worth something crazy like 75%+ what we paid for it in 2021.
Not so for a lot of EVs. I threw 3 examples into the article (Audi e-Tron, Dodge Charger Daytona, and then I guess the Ioniq 6 itself, the sporty ones with a speed markup). It’s newsworthy just because it’s unusual, it’s like the used market is saying something about the vehicle is not worth what the manufacturer thought it was worth on day one.
I’m quite happy with my decision to lease (Ioniq 5). Leaves me with a win win decision at the end of the term.
This is an odd example to write an article on though. “We can’t find a catch,” they say. Mate, 95,000 mi is like 8x the typical mileage on a car by year. It might as well be 8 years old, which makes the pricing much more reasonable.
If the car will make it to 200,000 miles, you’d expect a used one with 95,000 miles to be worth ~50% of original sales price.
And that’s just the baseline. Some vehicles hold value exceptionally well, like my Toyota Tacoma, the used prices are absurd, it’s worth something crazy like 75%+ what we paid for it in 2021.
Not so for a lot of EVs. I threw 3 examples into the article (Audi e-Tron, Dodge Charger Daytona, and then I guess the Ioniq 6 itself, the sporty ones with a speed markup). It’s newsworthy just because it’s unusual, it’s like the used market is saying something about the vehicle is not worth what the manufacturer thought it was worth on day one.