@@B0RRAC0also solid state battery factories are being built in the US, right now is a perfect time to invest in EV stocks from Quantumscspe to Samsung and their partners
Gets me when people buy new cars to save on gas. They end up paying $10k in interest and 4x insurance costs to save $500 a year in gas. New cars hardly ever make sense for gas savings unless you're going from a 14mpg truck to a 40mpg car or ev car.
@@dscop442lol you do realize that anyone who buys are car not matter if it’s an EV or ICE vehicle you are going to be paying $10k in interest rates and 4x on insurance right?
Many buy a new car for the reliability vs potential of being stuck on the side of the road with a dead engine or trans. I won't let my drive something that could leave her stranded. We replace her car every time it hits 100,000 miles. It's a risk vs cost evaluation.
@@MichaelDozier-j1bif you do the basic maintenance and are not hard on the vehicle it will last 300000 miles +. Kinda dumb to just replace a vehicle because of fear of it breaking down. If cared for properly your typical issue in modern vehicles is just a check engine light for a sensor. But you don't seem like someone that understands mechanics
@@ManiacalManiac Shame you had to stoop to insults on OC's channel...he's more civilized then most...including you. My wife drives 10,000 miles a year and after 10 years the safety and tech features have improved substantially. Respectfully...driving 300,000 in a single automobile is insane....reliable or not.
Glad I picked up my 2022 Charger R/T Plus for $36k with 8k miles on it back in August. Fully loaded except for sunroof. Put $10k down on it and should be able to keep up with depreciation even if I don’t pay it off early.
If you're buying a car that's basically new for around $35k or less you're doing good. I bought a 1 owner 2017 Durango Citadel(cooled seats, tow package, AWD,loaded) with 60k miles in 2022 for $26k and that was the cheapest deal I could find for my purposes. Man, the car market has changed!
@@billman32 yeah, it really has. The best thing about my car is that it had exactly the things I wanted in it and none of the things I didn’t want. That’s hard to find in used cars.
Agreed. If we’re talking strictly domestic, I’d argue a Corvette ZR1 would easily fit that bill. But look at how few will be made, how hard it would be to get one in the first place, etc etc.
Never bought my widebody shakedown last call manual as investment. I paid cash for it and got 10k off MSRP. I got the car because I enjoy it, not to make a couple bucks off it 20 years in the future. I'm not getting rid of this car. V8, manual, widebody, shaker, what else could I want? My dream car.
I don't own a dodge or any other sportscar,I've been watching the channel because of the honest information and genuine response to his interactions with car dealers. Thanks for the info and content!
I have no intention of buying over MSRP. 👎🏻 But, for those who do, and the salesman pitches you the ‘the vehicle will appreciate in value’ 📈 Have the salesman put in writing. Ask for a price, printed on paper stating what the dealer will buy the vehicle from you in say five years. Of course they won’t do it. Then walk away.
The EV cars are not a good investment. Too much depreciation and the charging network is not developed, not to mention they tend to burn up because they are poorly built. I will continue to drive a gas powered car until I die.
Not all EVs are created equal, look at Teslas statistics, far safer and less chance of a fire than any internal combustion engine. Not the same for an fpace or bolt. Just like some ice cars are more prone to fires than others. Depreciation will continue to happen because tech continues to advance rapidly just like when the iPhones where first emerging they didn't even have 3g tech, then when the 3gs came out the original was basically worthless same for the 4g and 5g models... This is know as the obsolescence curve. The reason you don't see this in ice cars is they are basically the same tech for the past 100 years with very minor interior charges and minor engine upgrades not huge leaps forward.
Brad I was talking to a guy today who has a last call super Bee like mine and plum crazy ipage sticker as I told you I paid a $66,163 he paid $115,000 Plus for his car great video keep up the work
It is already out ... Porche dealers do not want back their own sold EVs from their own customer which want to buy something new from them (in one year depreciation was 70%)
If they ever come out, I wonder what the "First Call" Chargers will be worth after 1 year 🤔🤔 We shall see. I would bet not holding price like a Hellcat would.
The depreciation on EV'S are horrible ,and unless your going to keep it !! At the expense of battery replacement, that is the downside of EV'S !! And not to mention all the other electronics that will fail in a EV of wear and tear !! That's what they don't tell people !!!
Why do people who dislike something always have the most to say about the thimg they dislike...and with so much disinformation. Fun Fact: ISEECARS study shows that, in general, cars are holding value better now than cars in 2019. In 2019, depreciation was 50% over five years, and now it’s down to 39%. However, electric cars, the fastest-depreciating segment, still hover around that 50% depreciation point. So basically, EVs depreciation remained historically steadily, while gas cars depreciation slowed a bit. However, factoring maintenance and gas. The minimumal difference becomes irevlovent.
All this is a mess, I have been holding on to purchase a jeep gladiator. Prices are way too high and if the wrangler 4xe are getting recalls then I guess I'll wait and just keep holding on my challenger shaker
Totally agree with you. I do just want to point out it's not JUST ev's. Bought a decently optioned 22 ram 1500 laramie G/T w/ just under 60k miles. Msrp is over 65k. Bought it for 37k. Thats a huge hit for the original owner. Manufacturer date 12/21 sold a few months later.
This is my first time checking out your channel. And I like that you keep in your real. I've been new e. B's was a scam. I've been doing, but everybody get caught app and oh, I'm not gonna have to go to the pump. I'm not gonna have to pay. Yeah, but look at all the other expenses. You're gonna have to pay battery cost. 2030 thouson, the 2022 Ford Mustang. 5.0, if my battery go out what I'm looking at $3400. I'm back rolling. I aint got no 20000 I don't know 30000.0 EV battery. I'm not Going Out like that. That's crazy.
There’s a good opportunity to buy secondhand EV‘s that are only two years old and have relatively low mileage. The risk of battery issues is relatively low, so if you buy it used most of the battery issues occur within the first year at least from a manufacturer perspective.
If someone wants to trade in their $120K Mercedes every two years, perhaps they should consider leasing. "I bought the ugliest Mercedes ever and lost $70K in a year and a half" sounds like a Hoovie's Garage video. Ohhhhh, that's terrible! Great, I'll buy a two year old badly depreciated Tesla, drive it for five or six years instead of two, then let it go for whatever someone wants to pay while it still has.a year or two on the battery & drive unit warranty and do it again.
Yep. Leasing is the only way to go but then the math makes no sense to pay $1500+ month for an electric Mercedes that you can buy 2 years old for $35k still under warranty. I looked at 2 year old teslas for $25k and decided that’s the way to go if I ever got one of those. At least I’d get my moneys worth.
That it happens with the EQS is one thing. Right now, the cheapest 2 year old S Class is about half of what a new one costs. It had neither a ton of miles or a branded (salvage, lemon) title.
I bought a a twenty three Jeep Grand Cherokee Summit Reserve L High Alt. in Feb 23. Stickered at 75.5 with $1000 rebate. I traded in my two thousand eighteen Jeep Cherokee Overland(paid33.5 afte rebates emp disc) for 22k & owed 12.6k. I got 9400 more than I owed & rolled it on the new Jeep. About 17k off. Now 21 months later my trade in on a GW at 20k off is 44k to 47k with a loss of 47k in less than 2 years. Lucky I only paid 59k 63k with taxes inc. Hell no I am not buying a new vehicle. No problems with my 23 & all these rebates are not a good deal when you consider the low ball trade ins.
My fiance has a Prius from '08. She bought it new. We've had to replace the battery once. Thankfully. We live in Texas where it's legal to have a third party replace the battery, but if we hadn't gone through Toyota it was the cost of an engine replacement and it was a hybrid. It's not a full electric version. It's just a hybrid so $10,000 was the cost that was quoted. Meanwhile I find the guy that does the whole thing for $995
Wrong, wrong, wrong. EVs use single pedal driving and barely use 5-10% of the brakes. Tire usage is similar to ICE performance cars. My AMG and RS5 had to get tires replaced at 10k miles. EVs have better performance than most ICE cars.
@@jjohur An AMG and RS5 are not supposed to be economical. Sure I replace the tires on my Shelby GT350 every 15k miles, but my Civic's last 100k. The brake thing is false though to be fair, heck the volkswagen EVs use drum brakes on the rear because regen is so strong.
Brad you want to talk about some technology Porsche is working on a six-stroke motor and they only work with odd numbers cylinders as far as optimization show me got a 3 6 9 cylinder motors 50% better gas mileage on 50 more horsepower
The EQS was supposed to be the “electric S-class”. They built it too small. The other issue is that demographic: older men- road trip their cars. They are not trying to “charge a car”. My aunt has an EQS 580 and a W222 S580. She’s fickle about cars.
EVs need to sell at 50% the price of a comparable ice vehicle to account for the fact EVs are worse in every way. A Tesla model 3 should be half the cost of a Corolla.
I still think my buy was the smartest a couple months back I got My Challenger GT Blacktop for 28.500 it had 10k miles on it and was/is in Showroom condition...I saved at a Minimum of 20k...for a engine I wouldn't be really able to open up without getting a huge ticket in my area...and I still get to drive a badass challenger....
Last year 2023 I was going to buiy a model 3, cancelled the order and instead, got a 2016 Ford Fiesta, I save $400 a month in gas, spent $12k on the Fiesta, no payments. If I bought the Tesla, I would have to lay out $20K and have payments of $388 a month with a higher electric bill. I think I made the right choice, yea a Fiesta ain't no Model Y but I'm happy.
I'm not saying it will make up the depreciation figures you have, but over a longer ownership term, you have to include the gas savings, oil changes and other fluids, brakes... Caredge has the cost of ownership off to a great start. Compare cost of ownership off an EV to a stellantis product and factor today in.
I purchased a Chevy Bolt about a year ago from my local Chevy dealer, 12k with over a year of warranty left, no bad history. The asking price was 24k. I looked him in the eye and stated I will give you 16k right now. I purchased the vehicle at that price. Due to the low value I was able to obtain low cost insurance. Least expensive car I have ever purchased from a Dealer accept one.
So, I am interested in seeing how the Ramcharger control system works for charging the onboard hybrid battery. From an engineering perspective I’d like to see if they can reach the peak efficiency on the engine while charging under normal driving, while keeping it dynamic enough to adapt to changing loads/driving. Then from a user perspective on how that info is relayed to the driver, and how the driver can adjust different control states. I would also like to see maybe a dynamic intelligence control algorithm to fit in and account for decay variables for the battery and motors overtime. If you could do a test drive when the vehicle comes out, as well as discuss how you feel about the vehicle control dynamics from a fresh perspective that would be cool. No need to get into the control dynamics from an efficiency perspective or dynamics control systems intelligence. Just talking would be great.
On the tesla, they got a lot of incentive when they bought it so their depreciation was not that bad. And if you know what you were doing you would just keep the car because you knew your cars so it shouldn't be that bad. This car I like stock prices you only lose value if you sell them at a loss.
EVs have accelerated depreciation with time unlike ice cars. No one wants an old EV with very questionable battery life and recharging capabilities. A 7 year EV is almost completely worthless.
Most only care about how much per month and can they afford the payment. Does not seem like they care about getting educated in deprecation. Customers just have to have the latest and greatest to impress everyone or did not even need a new car. I just can not feel bad and only hope they learned.
I knew years ago that EV’s wouldn’t hold value as the expensive battery ages. However I was seriously shocked watching this video how much people are underwater.
to be fair; in the 90's and 00's the only cars guaranteed to have you upside down in your loan if you bought it new were Chrysler and Korean cars. The Viper and Ram might have been the exception; but your true cost of a car is not what you buy it for but the difference between what you sell it for down the road and what you buy it for. A used $45K Lexus might still be worth $40K after 2 or even 3 years.
53,000 miles in less than two years and Valley Stream NY? Yeah, that's NYC/Long Island Uber trash. Most go for far higher, like $25,000 at local dealers.
I think (?) it's common knowledge that depreciation on EVs is horrendous. Of course dealers don't highlight that feature LOL. Pretty sure banks now take that into consideration....have to have a deposit that covers the bank in case you default.
The EQS losing 70% in two years doesn’t really make me feel too great about my ‘22 Charger WBSP losing ~40% in the same amount of time. I put down 10% with got 4.94 APR and am STILL upside down around $4K, even having made payments $150 over on principal. I can’t imagine how upside down the average new car buyer has been in recent times. Though the V8 mopars are all essentially used now, you’d still be better off buying a used *anything* as clearly owner #1 has taken the massive initial depreciation hit. Truth be told average buyers also simply don’t have cashiers checks for 30% down lying around, let alone for weekend toys… and lack of that means lack of negotiating and buying power. And I make $135K a year - the average person doesn’t - with only $10K credit debt and a $1000 mortgage - so what kind of a position do average buyers find themselves in???
Here is an angle that most people don’t think about-and more relevant to EVs because they tend to be more expensive. Spending $75k on an EV, say the Charger Scat Pack, vs a two or three year old ICE scat pack for, say, $40k. If you’re 30, 35 years old for example, that $35k difference would be around $200k if invested otherwise, with even a modest return after 30 years. So even allowing for gas savings be cost to charge, it’s not in any way a wise investment-and they’ll both be likely very close in value in just a couple of years.
People don't know how to negotiate or are not in a position to negotiate . Then add in greedy dealers , then add in greedy insurance. Instant gratification society.......Folks don't stand a chance anymore . ❤
Better lease.your new EV Charger......my guess is Stellantis wont offer any leases cause the depreciation will be 50% on these within 3 years easy......if the brand doesn't go under entirely first.
Credit has blinded the American consumer. People think living within their means refers to their credit limit. I can't understand how finance managers at dealerships haven't done the math to see this is where this was heading its so obvious.
I daily drive a 2005 Honda still, If it were EV I wouldn't be driving it without replacing the EV battery at least once, I say HELL NO, The future my ass.
They're 40K now, but you can still lose half you money, in a year. There's no repairing them, when they're out of warranty. They will continue to dive into the ground, as there's no let up, on EV depreciation. They're electric appliances, so they'll depreciate like a laptops, and cell phones. If it catches fire, you'll wish your battery failed.
I disagree on a few points relative to EVs. First, one can charge at home for a fraction of the cost at say Electrify America or Tesla. Additionally, many of the EV makers now have partnership agreements, where they can not only charge on the J1778 fast charging networks, but also the Tesla stations. I cannot deny that Electrify America has had station issues, that I have personally experienced as an EV user. As far as degradation, the battery will degrade at a corresponding rate to that of an ICE vehicle. At approximately 7 years or use, your battery will hold approximately 85% of the charge from when it was new. Also, cost, if one goes and looks at the new Equinox EV, it is starting out at $35K. That is not a drop in the bucket, but as vehicles rise in cost, the cost of this vehicle is lower than one can normally expect. While I appreciate the EV example of the Mercedes EQS, this is a high-end example of being overpriced, compared to the average buyer. Additionally, with all due respect, it appears that based on your selections for Dodge vehicles, you cherry picked certain specs to generate your numbers. I understand you do not care for EVs, but please make the prices comparison, apples to apples.
See, this is exactly what I'd expect to see from the "believers". You've been so brainwashed that nothing anyone says or even shows you can be processed through your mind. You only see your personal situation and apply it to everyone. YOU have a home with the ability to charge from it, yet millions of people do not and cannot. Your side ignores the apartment dwellers, vertical living, rural, those who cannot afford solar, those in places like California where the governor tells us we cannot charge in the summer due to the grid collapsing, electric peak pricing affects, the parents of 2 kids who share one car in the home and have no time or ability to sit at chargers, etc etc. You also forget that before the tesla partnership agreements there have been lines around the supercharging stations and now they just add tens of thousands of other cars to be able to use that network and think that won't clog those up more? EV's are for about 10-15% of our society, that's it. We're around 10% now and the infrastructure cannot support them conveniently. Then, in California, the most "green" state, about 50% of the electricity is derived from fossil fuels, so what do you think happens to that number with more and more EV's taxing the grid? Lastly, the examples I used were insanely diverse on purpose to avoid someone saying I cherry picked. I picked a frigging Honda Accord, a Dodge Charger RT, and a Scat Pack widebody since this was about the new Scat Pack EV that is supposed to come out someday. This is a Dodge channel so adding in the Honda was just for you actually, yet you missed the point I guess. Bottom line is that there isn't an EV that doesn't have near catastrophic depreciation in a very very short period. Lastly, as far as battery life...We're just now starting to witness the issues with those as they age, and the variables are important when it comes to what is left after 5,7,10 years, but one thing is absolutely for sure and indisputable, these WILL die sooner than an engine, and they WILL cause the car to be totaled due to battery replacement cost, which is why used EV's are not as desirable as gas cars are, and it's only going to get worse the deeper we get into this EV mandate scam. And just a note, I am likely buying a Tesla for commuting, but I can charge at my home, and it will be used for business which will offset my costs and losses. And I will buy used under warranty and let someone else take that horrible depreciation.
@@ocmotivator I appreciate the discussion. You are making assumptions. I have gas vehicles. I have a Jeep Wranger and most recentsly, had a Mustang GT. You are making assumptions on charging and adpatation of charging. You speak of brainwashing. In a recent video you stated something to the effect of "woke" in reference to vehicles. If have heard that correctly that would also be an assumptoin. You also without asking me, assume that I am in support of 100% adoption for all Amercians. There is a place for ICE vehicles as well as EVs. Just so you know, these lines you speak of, did not exist in most areas. You appear to be redirecting the conversation to validate points. All one can ask is, please try to have an open mind to technology and its corresponding benefit. IF one can charge at home, the cost is incremental to that of a charging station. I will grant you that companies need to NOT start jacking up charging prices to equate to gass fill ups.
Bought my corrola le for 18500 $ in Cali new like 10 miles or less 2021 version now worth 18000$ after barely hitting 30k miles 😂😂 after 3 yrs + edit I'm getting a c7 after seeing and hearing people pay over msrp
Everyone is losing money on EVs. The manufactures are losing money making and selling them. The consumers are losing money buying them. The banks are losing money on the loans on them. The insurance companies are losing money on the EV fires, floods and accidents that are totaling them. Who is making the money that is driving this?
Tesla does. Ev fires are massively less likely to occur than ICE cars, floods and accidents also affect gas cars. Tesla owners love their cars so at least they're blissfully losing money.
Add a HEMI V8 and I would buy a new Charger...I know the Turbo 6 will be very quick but,need a V8 ditto in the RAM 1500...Stellantis screwed this company up 100%..
EV's are the modern-day equivalent of, "cart before the horse."
EV's are the modern day My Pet Rock! 🪨
Yep. Well said
EVs are far superior cars.
@@B0RRAC0 True EVs have high depreciation and so do TRUCKS, they literally have almost the exact same depreciation
@@B0RRAC0also solid state battery factories are being built in the US, right now is a perfect time to invest in EV stocks from Quantumscspe to Samsung and their partners
This is a side effect of cars becoming like phones
@@nitrousexplosion10 this!
Gets me when people buy new cars to save on gas. They end up paying $10k in interest and 4x insurance costs to save $500 a year in gas. New cars hardly ever make sense for gas savings unless you're going from a 14mpg truck to a 40mpg car or ev car.
But I’m saving the planet! 😅
@@dscop442lol you do realize that anyone who buys are car not matter if it’s an EV or ICE vehicle you are going to be paying $10k in interest rates and 4x on insurance right?
Many buy a new car for the reliability vs potential of being stuck on the side of the road with a dead engine or trans.
I won't let my drive something that could leave her stranded. We replace her car every time it hits 100,000 miles.
It's a risk vs cost evaluation.
@@MichaelDozier-j1bif you do the basic maintenance and are not hard on the vehicle it will last 300000 miles +. Kinda dumb to just replace a vehicle because of fear of it breaking down. If cared for properly your typical issue in modern vehicles is just a check engine light for a sensor. But you don't seem like someone that understands mechanics
@@ManiacalManiac Shame you had to stoop to insults on OC's channel...he's more civilized then most...including you.
My wife drives 10,000 miles a year and after 10 years the safety and tech features have improved substantially.
Respectfully...driving 300,000 in a single automobile is insane....reliable or not.
Glad I picked up my 2022 Charger R/T Plus for $36k with 8k miles on it back in August. Fully loaded except for sunroof. Put $10k down on it and should be able to keep up with depreciation even if I don’t pay it off early.
Nice 👍 and I operate Civics, Also a great way to not loose your Ass, Sure yours is Cooler 😁
If you're buying a car that's basically new for around $35k or less you're doing good. I bought a 1 owner 2017 Durango Citadel(cooled seats, tow package, AWD,loaded) with 60k miles in 2022 for $26k and that was the cheapest deal I could find for my purposes. Man, the car market has changed!
@@billman32 yeah, it really has. The best thing about my car is that it had exactly the things I wanted in it and none of the things I didn’t want. That’s hard to find in used cars.
No vehicle is an investment. I think the "Last call" and options have shown that in most recent memory
Agreed. If we’re talking strictly domestic, I’d argue a Corvette ZR1 would easily fit that bill. But look at how few will be made, how hard it would be to get one in the first place, etc etc.
No car that the average person can afford is an investment. Most people really can’t afford a new car.
Never bought my widebody shakedown last call manual as investment. I paid cash for it and got 10k off MSRP. I got the car because I enjoy it, not to make a couple bucks off it 20 years in the future. I'm not getting rid of this car. V8, manual, widebody, shaker, what else could I want? My dream car.
I can think of a lot of cars that are investments. You just don't buy anything but basic cars.
I don't own a dodge or any other sportscar,I've been watching the channel because of the honest information and genuine response to his interactions with car dealers. Thanks for the info and content!
Can you just imagine if a hurricane were to ever hit the US and knock out electricity? Oh wait...
I have no intention of buying over MSRP. 👎🏻
But, for those who do, and the salesman pitches you the ‘the vehicle will appreciate in value’ 📈
Have the salesman put in writing. Ask for a price, printed on paper stating what the dealer will buy the vehicle from you in say five years. Of course they won’t do it. Then walk away.
The Last Call was Tim K’s Last Big Scam on the Brotherhood.
A year from now there will be very few happy Dodge Jeep Ram owners
NAILED IT!!!!!!!! I don't understand how people don't understand this, its not rocket science??
The EV cars are not a good investment. Too much depreciation and the charging network is not developed, not to mention they tend to burn up because they are poorly built. I will continue to drive a gas powered car until I die.
But Pete Buttigieg installed seven EV chargers over the last four years. What more could you need?
Not all EVs are created equal, look at Teslas statistics, far safer and less chance of a fire than any internal combustion engine. Not the same for an fpace or bolt. Just like some ice cars are more prone to fires than others. Depreciation will continue to happen because tech continues to advance rapidly just like when the iPhones where first emerging they didn't even have 3g tech, then when the 3gs came out the original was basically worthless same for the 4g and 5g models... This is know as the obsolescence curve. The reason you don't see this in ice cars is they are basically the same tech for the past 100 years with very minor interior charges and minor engine upgrades not huge leaps forward.
@@aureasha you might be correct on that. I have zero interest in electric cars. I will drive gas only
lol who said they are investments?
True EVs have high depreciation and so do TRUCKS, they literally have almost the exact same depreciation
FEVs FJB and FKH!
Funny you said that your saying fuck elon musk n trump to cause musk vehicles is electric n he donated millions to trump to
FDT
OCMotivator Friend thank you for letting people know about the EV'S that they don't tell people !! Your information is very important !!🇺🇸🇺🇸🇺🇸💪💪💪👍👍👍
Those EV prices are absolutely insane, I had no idea.
Brad I was talking to a guy today who has a last call super Bee like mine and plum crazy ipage sticker as I told you I paid a $66,163 he paid $115,000 Plus for his car great video keep up the work
It’s worth $40k now.
You can install a honda 6500 watt generator to run your tesla once the batteries give out. 😂😂
You’re looking at retail prices, so the depreciation is worse for someone trying to unload one of these things.
Yep! I did mention that briefly towards the end. It’s much worse for sure. 👍
100% BRAD!!! Incompetence!! People who overpaid are crazy !!!!!
Thank you for speaking the Truth. We think the Auto Market is going to get become more regulated after all these defaults happen.
It is already out ... Porche dealers do not want back their own sold EVs from their own customer which want to buy something new from them (in one year depreciation was 70%)
Amazing comparison video ❤
If they ever come out, I wonder what the "First Call" Chargers will be worth after 1 year 🤔🤔 We shall see. I would bet not holding price like a Hellcat would.
It is so funny people that buy EVS like throwing their money away on a throwaway car it makes sense to them😅 they deserve it 100%😊
Bravo! More people need to hear this
The depreciation on EV'S are horrible ,and unless your going to keep it !! At the expense of battery replacement, that is the downside of EV'S !! And not to mention all the other electronics that will fail in a EV of wear and tear !! That's what they don't tell people !!!
Resale prices sound reminiscent of any other household appliances such as refrigerators and washing machines after you use them once, half price.
exactly!
Why do people who dislike something always have the most to say about the thimg they dislike...and with so much disinformation. Fun Fact: ISEECARS study shows that, in general, cars are holding value better now than cars in 2019. In 2019, depreciation was 50% over five years, and now it’s down to 39%. However, electric cars, the fastest-depreciating segment, still hover around that 50% depreciation point. So basically, EVs depreciation remained historically steadily, while gas cars depreciation slowed a bit. However, factoring maintenance and gas. The minimumal difference becomes irevlovent.
All this is a mess, I have been holding on to purchase a jeep gladiator. Prices are way too high and if the wrangler 4xe are getting recalls then I guess I'll wait and just keep holding on my challenger shaker
Hold a lil longer I think big big incentives are coming
Totally agree with you. I do just want to point out it's not JUST ev's. Bought a decently optioned 22 ram 1500 laramie G/T w/ just under 60k miles. Msrp is over 65k. Bought it for 37k. Thats a huge hit for the original owner. Manufacturer date 12/21 sold a few months later.
Ya but that’s the nature of CDJR - they have the worst quality in the world.
This is my first time checking out your channel. And I like that you keep in your real. I've been new e. B's was a scam. I've been doing, but everybody get caught app and oh, I'm not gonna have to go to the pump. I'm not gonna have to pay. Yeah, but look at all the other expenses. You're gonna have to pay battery cost. 2030 thouson, the 2022 Ford Mustang. 5.0, if my battery go out what I'm looking at $3400. I'm back rolling. I aint got no 20000 I don't know 30000.0 EV battery. I'm not Going Out like that. That's crazy.
There’s a good opportunity to buy secondhand EV‘s that are only two years old and have relatively low mileage. The risk of battery issues is relatively low, so if you buy it used most of the battery issues occur within the first year at least from a manufacturer perspective.
If someone wants to trade in their $120K Mercedes every two years, perhaps they should consider leasing. "I bought the ugliest Mercedes ever and lost $70K in a year and a half" sounds like a Hoovie's Garage video. Ohhhhh, that's terrible!
Great, I'll buy a two year old badly depreciated Tesla, drive it for five or six years instead of two, then let it go for whatever someone wants to pay while it still has.a year or two on the battery & drive unit warranty and do it again.
Yep. Leasing is the only way to go but then the math makes no sense to pay $1500+ month for an electric Mercedes that you can buy 2 years old for $35k still under warranty. I looked at 2 year old teslas for $25k and decided that’s the way to go if I ever got one of those. At least I’d get my moneys worth.
That it happens with the EQS is one thing. Right now, the cheapest 2 year old S Class is about half of what a new one costs. It had neither a ton of miles or a branded (salvage, lemon) title.
I bought a a twenty three Jeep Grand Cherokee Summit Reserve L High Alt. in Feb 23. Stickered at 75.5 with $1000 rebate. I traded in my two thousand eighteen Jeep Cherokee Overland(paid33.5 afte rebates emp disc) for 22k & owed 12.6k. I got 9400 more than I owed & rolled it on the new Jeep. About 17k off. Now 21 months later my trade in on a GW at 20k off is 44k to 47k with a loss of 47k in less than 2 years. Lucky I only paid 59k 63k with taxes inc. Hell no I am not buying a new vehicle. No problems with my 23 & all these rebates are not a good deal when you consider the low ball trade ins.
My fiance has a Prius from '08. She bought it new. We've had to replace the battery once. Thankfully. We live in Texas where it's legal to have a third party replace the battery, but if we hadn't gone through Toyota it was the cost of an engine replacement and it was a hybrid. It's not a full electric version. It's just a hybrid so $10,000 was the cost that was quoted. Meanwhile I find the guy that does the whole thing for $995
That one EV with 131,000 miles must have an extension cord to put that many miles in a year and a half when he spent a year charging it
Also, EV wear out tires and brakes quicker then ICE vehicles so maintenance costs are ridiculous. Great video OC keep preaching
What are you on about? I’ve driven wifes tesla many times and never even had to touch the brake.
@@borisb2367 Stop running stop signs!
@@lennardlennard414 Another one just blabbering..
Wrong, wrong, wrong. EVs use single pedal driving and barely use 5-10% of the brakes. Tire usage is similar to ICE performance cars. My AMG and RS5 had to get tires replaced at 10k miles. EVs have better performance than most ICE cars.
@@jjohur An AMG and RS5 are not supposed to be economical. Sure I replace the tires on my Shelby GT350 every 15k miles, but my Civic's last 100k. The brake thing is false though to be fair, heck the volkswagen EVs use drum brakes on the rear because regen is so strong.
Great breakdown of the reality of buying an EV.
Batteries in Thermal Runaway is spectacular 😮
Thank you Brad!
Brad you want to talk about some technology Porsche is working on a six-stroke motor and they only work with odd numbers cylinders as far as optimization show me got a 3 6 9 cylinder motors 50% better gas mileage on 50 more horsepower
The EQS was supposed to be the “electric S-class”.
They built it too small.
The other issue is that demographic: older men- road trip their cars. They are not trying to “charge a car”.
My aunt has an EQS 580 and a W222 S580.
She’s fickle about cars.
EVs need to sell at 50% the price of a comparable ice vehicle to account for the fact EVs are worse in every way. A Tesla model 3 should be half the cost of a Corolla.
I still think my buy was the smartest a couple months back I got My Challenger GT Blacktop for 28.500 it had 10k miles on it and was/is in Showroom condition...I saved at a Minimum of 20k...for a engine I wouldn't be really able to open up without getting a huge ticket in my area...and I still get to drive a badass challenger....
Last year 2023 I was going to buiy a model 3, cancelled the order and instead, got a 2016 Ford Fiesta, I save $400 a month in gas, spent $12k on the Fiesta, no payments. If I bought the Tesla, I would have to lay out $20K and have payments of $388 a month with a higher electric bill. I think I made the right choice, yea a Fiesta ain't no Model Y but I'm happy.
I'm not saying it will make up the depreciation figures you have, but over a longer ownership term, you have to include the gas savings, oil changes and other fluids, brakes... Caredge has the cost of ownership off to a great start. Compare cost of ownership off an EV to a stellantis product and factor today in.
I purchased a Chevy Bolt about a year ago from my local Chevy dealer, 12k with over a year of warranty left, no bad history. The asking price was 24k. I looked him in the eye and stated I will give you 16k right now. I purchased the vehicle at that price. Due to the low value I was able to obtain low cost insurance. Least expensive car I have ever purchased from a Dealer accept one.
We haven't all done it. I have never rolled negative equity into the next car.
So, I am interested in seeing how the Ramcharger control system works for charging the onboard hybrid battery. From an engineering perspective I’d like to see if they can reach the peak efficiency on the engine while charging under normal driving, while keeping it dynamic enough to adapt to changing loads/driving. Then from a user perspective on how that info is relayed to the driver, and how the driver can adjust different control states. I would also like to see maybe a dynamic intelligence control algorithm to fit in and account for decay variables for the battery and motors overtime. If you could do a test drive when the vehicle comes out, as well as discuss how you feel about the vehicle control dynamics from a fresh perspective that would be cool. No need to get into the control dynamics from an efficiency perspective or dynamics control systems intelligence. Just talking would be great.
On the tesla, they got a lot of incentive when they bought it so their depreciation was not that bad. And if you know what you were doing you would just keep the car because you knew your cars so it shouldn't be that bad. This car I like stock prices you only lose value if you sell them at a loss.
EVs have accelerated depreciation with time unlike ice cars. No one wants an old EV with very questionable battery life and recharging capabilities. A 7 year EV is almost completely worthless.
@@JA-zh5xi hahaha 😝. There’s plenty of old Tesla out there that’s running great.
The good thing is Dodge doesn't have any EV yet, so there's no real depreciation.
Most only care about how much per month and can they afford the payment. Does not seem like they care about getting educated in deprecation. Customers just have to have the latest and greatest to impress everyone or did not even need a new car. I just can not feel bad and only hope they learned.
Glad I got my RT this year 😃 at 37k with only 200 miles
I knew years ago that EV’s wouldn’t hold value as the expensive battery ages. However I was seriously shocked watching this video how much people are underwater.
I can’t wait to drive a Charger EV or WAGONEER S. I want to see what they have accomplished compared to GM.
Fast depreciation of EV will PROLIFERATE EV on the used car market. Most of these 2nd and 3rd hand buyers will appreciate them.
to be fair; in the 90's and 00's the only cars guaranteed to have you upside down in your loan if you bought it new were Chrysler and Korean cars. The Viper and Ram might have been the exception; but your true cost of a car is not what you buy it for but the difference between what you sell it for down the road and what you buy it for. A used $45K Lexus might still be worth $40K after 2 or even 3 years.
"Like cockroaches." 😂😂😂
53,000 miles in less than two years and Valley Stream NY? Yeah, that's NYC/Long Island Uber trash. Most go for far higher, like $25,000 at local dealers.
I think (?) it's common knowledge that depreciation on EVs is horrendous. Of course dealers don't highlight that feature LOL.
Pretty sure banks now take that into consideration....have to have a deposit that covers the bank in case you default.
New ads showing EV driving themselves doesn’t really help if it’s not affordable!
I'm sure some of those used EV's are lease returns.
That plus all the rental car fleets dumping them I'm sure
The EQS losing 70% in two years doesn’t really make me feel too great about my ‘22 Charger WBSP losing ~40% in the same amount of time. I put down 10% with got 4.94 APR and am STILL upside down around $4K, even having made payments $150 over on principal. I can’t imagine how upside down the average new car buyer has been in recent times. Though the V8 mopars are all essentially used now, you’d still be better off buying a used *anything* as clearly owner #1 has taken the massive initial depreciation hit. Truth be told average buyers also simply don’t have cashiers checks for 30% down lying around, let alone for weekend toys… and lack of that means lack of negotiating and buying power. And I make $135K a year - the average person doesn’t - with only $10K credit debt and a $1000 mortgage - so what kind of a position do average buyers find themselves in???
I remember seeing that 22 Mach e for 60s high
Here is an angle that most people don’t think about-and more relevant to EVs because they tend to be more expensive. Spending $75k on an EV, say the Charger Scat Pack, vs a two or three year old ICE scat pack for, say, $40k. If you’re 30, 35 years old for example, that $35k difference would be around $200k if invested otherwise, with even a modest return after 30 years. So even allowing for gas savings be cost to charge, it’s not in any way a wise investment-and they’ll both be likely very close in value in just a couple of years.
I can hear the put options now.... SELL 30 APRIL AT 142!!!! Wilson get back in there and sell sell sell!!! Where's Beeks?
paid 36 for 2020 dodge caravan. after the 2 hurricanes. (ALOT of Scratches on paint. lucky I get 10. with 16500 miles.
The fact I can find classic cars for less than 40,000. I think that’s enough said about the whole investments in these Dodge cars.
Oh no! The FACTS! 😂
Banks are already wising up; they are only lending 80% of MSRP!! It's over!!!!
People don't know how to negotiate or are not in a position to negotiate . Then add in greedy dealers , then add in greedy insurance. Instant gratification society.......Folks don't stand a chance anymore . ❤
Better lease.your new EV Charger......my guess is Stellantis wont offer any leases cause the depreciation will be 50% on these within 3 years easy......if the brand doesn't go under entirely first.
Upside down craziness!
Reminds me of my gym ev
Credit has blinded the American consumer. People think living within their means refers to their credit limit. I can't understand how finance managers at dealerships haven't done the math to see this is where this was heading its so obvious.
Using credit is dumb but you need the score for a mortage
Porsche makes some of the best EVs in the world, they can’t give them away
I daily drive a 2005 Honda still, If it were EV I wouldn't be driving it without replacing the EV battery at least once, I say HELL NO, The future my ass.
Get a manual 5.0
Sheesh EV cars are the worst purchase!!! Thanks for opening people’s eye
If they could figure out a decent way to do an in road charging system. I could see evs being practical. Until then.....nope.
If you are into Panther Pink, an electric Muscle Car will do, I guess.
They're 40K now, but you can still lose half you money, in a year. There's no repairing them, when they're out of warranty. They will continue to dive into the ground, as there's no let up, on EV depreciation. They're electric appliances, so they'll depreciate like a laptops, and cell phones. If it catches fire, you'll wish your battery failed.
Tree hugger loaded folks got the wheels in motion to where we are today !!
And the bad news just keeps coming not just, MOPAR!
I disagree on a few points relative to EVs. First, one can charge at home for a fraction of the cost at say Electrify America or Tesla. Additionally, many of the EV makers now have partnership agreements, where they can not only charge on the J1778 fast charging networks, but also the Tesla stations. I cannot deny that Electrify America has had station issues, that I have personally experienced as an EV user. As far as degradation, the battery will degrade at a corresponding rate to that of an ICE vehicle. At approximately 7 years or use, your battery will hold approximately 85% of the charge from when it was new. Also, cost, if one goes and looks at the new Equinox EV, it is starting out at $35K. That is not a drop in the bucket, but as vehicles rise in cost, the cost of this vehicle is lower than one can normally expect. While I appreciate the EV example of the Mercedes EQS, this is a high-end example of being overpriced, compared to the average buyer. Additionally, with all due respect, it appears that based on your selections for Dodge vehicles, you cherry picked certain specs to generate your numbers. I understand you do not care for EVs, but please make the prices comparison, apples to apples.
See, this is exactly what I'd expect to see from the "believers". You've been so brainwashed that nothing anyone says or even shows you can be processed through your mind. You only see your personal situation and apply it to everyone. YOU have a home with the ability to charge from it, yet millions of people do not and cannot. Your side ignores the apartment dwellers, vertical living, rural, those who cannot afford solar, those in places like California where the governor tells us we cannot charge in the summer due to the grid collapsing, electric peak pricing affects, the parents of 2 kids who share one car in the home and have no time or ability to sit at chargers, etc etc. You also forget that before the tesla partnership agreements there have been lines around the supercharging stations and now they just add tens of thousands of other cars to be able to use that network and think that won't clog those up more? EV's are for about 10-15% of our society, that's it. We're around 10% now and the infrastructure cannot support them conveniently. Then, in California, the most "green" state, about 50% of the electricity is derived from fossil fuels, so what do you think happens to that number with more and more EV's taxing the grid? Lastly, the examples I used were insanely diverse on purpose to avoid someone saying I cherry picked. I picked a frigging Honda Accord, a Dodge Charger RT, and a Scat Pack widebody since this was about the new Scat Pack EV that is supposed to come out someday. This is a Dodge channel so adding in the Honda was just for you actually, yet you missed the point I guess. Bottom line is that there isn't an EV that doesn't have near catastrophic depreciation in a very very short period. Lastly, as far as battery life...We're just now starting to witness the issues with those as they age, and the variables are important when it comes to what is left after 5,7,10 years, but one thing is absolutely for sure and indisputable, these WILL die sooner than an engine, and they WILL cause the car to be totaled due to battery replacement cost, which is why used EV's are not as desirable as gas cars are, and it's only going to get worse the deeper we get into this EV mandate scam. And just a note, I am likely buying a Tesla for commuting, but I can charge at my home, and it will be used for business which will offset my costs and losses. And I will buy used under warranty and let someone else take that horrible depreciation.
@@ocmotivator I appreciate the discussion. You are making assumptions. I have gas vehicles. I have a Jeep Wranger and most recentsly, had a Mustang GT. You are making assumptions on charging and adpatation of charging. You speak of brainwashing. In a recent video you stated something to the effect of "woke" in reference to vehicles. If have heard that correctly that would also be an assumptoin. You also without asking me, assume that I am in support of 100% adoption for all Amercians. There is a place for ICE vehicles as well as EVs. Just so you know, these lines you speak of, did not exist in most areas. You appear to be redirecting the conversation to validate points. All one can ask is, please try to have an open mind to technology and its corresponding benefit. IF one can charge at home, the cost is incremental to that of a charging station. I will grant you that companies need to NOT start jacking up charging prices to equate to gass fill ups.
This isn't anything new; most luxury cars don't hold their value. Most people with EVs tend to lease and know the cost of ownership.
The main reason Tesla prices dropped was because the manufacturer lowered prices for new models.
True EVs have high depreciation and so do TRUCKS, they literally have almost the exact same depreciation
Good video alot of people are going to lose their ass
Nobody is taking about the Ford Lighting EVs they literally couldn’t sell them. I’ve seen rows and rows of them at an auto auction that nobody wants.
Bought my corrola le for 18500 $ in Cali new like 10 miles or less 2021 version now worth 18000$ after barely hitting 30k miles 😂😂 after 3 yrs + edit I'm getting a c7 after seeing and hearing people pay over msrp
I'm glad EV's exist, but I don't want one.
Would you be interested in Chevy since the newest dodge models are possibly sub par and now out dated
Everyone is losing money on EVs. The manufactures are losing money making and selling them. The consumers are losing money buying them. The banks are losing money on the loans on them. The insurance companies are losing money on the EV fires, floods and accidents that are totaling them. Who is making the money that is driving this?
Hey you forgot the insurance co
Stop the FUD.
China on the batteries.
Tesla does. Ev fires are massively less likely to occur than ICE cars, floods and accidents also affect gas cars. Tesla owners love their cars so at least they're blissfully losing money.
Wow. Used EVs are actually a decent buy now.
Add a HEMI V8 and I would buy a new Charger...I know the Turbo 6 will be very quick but,need a V8 ditto in the RAM 1500...Stellantis screwed this company up 100%..
selling a car for 100k is not logical when its only worth 30-40
But the EV owners are saving on gas! That's what they say, meanwhile their car has lost 50 percent or more of its value in a year
junks and stellantis is going bankrupt how they can give CT all that loot on his way out is beyond insane'!!
They deserve what they got!! What did they think was going to happen? Stupid!!!
You keep in it's all real about the hollow e. V.Thing bye thanks I'll bunch of people can learn from you
Battery degradation isn’t a thing. 😂