I can tell you that here in Canada I have not seen one dealer willing to negotiate on their prices. In fact I had a dealer here put additional fees. One dealer even asked for additional $1500 to their advertised price if you are paying cash. I was in the market for a new vehicle but I have decided to sit this out until some sanity comes back.
EVs losing value is overblown especially Teslas. All vehicle prices ballooned and dropped since post-covid. Further, part of the inflated depreciation of EVs is specifically because of the $7500 rebate. If it’s $54k it only cost you $46.5k, so the fact it went down in “value” by an extra $7500 is meaningless bc that was money you never invested in it. I’ll make it even more obvious for people: if a car is valued at $100 million and you pay a dollar for it, and then the value drops to $10 million tomorrow, losing 90% of its value, is it still a good investment to spend a dollar and end up with a $10 million dollar car? “But it depreciated in value by 90% in less than a year!” Right?And when you look at the difference in depreciation between new ICE and EVs, what do you see? The difference in depreciation is majority from rebate. People don’t understand this very obvious and clear fact. This is especially foolish to show Teslas as an example because Teslas have proven to hold their value much higher than any other EVs on the market. They depreciate at like half the rate which probably means when you factor the rebate they actually hold a higher value than many ICE vehicles.
Your title is misleading! I'm being nice because I like ideal car strategies. The video, as usual, has good information but doesn't show even one example of a 70% price drop, or how much the car market has collapsed!
If you can’t afford the loans, you sure as shit can’t afford to lease. Leasing only makes sense when you have a high income and cycling through vehicles as a convenience of avoiding repairs because you want to replace your vehicle every two or three years.
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What do you think of the car market right now? Is it a good time to buy?
I can tell you that here in Canada I have not seen one dealer willing to negotiate on their prices. In fact I had a dealer here put additional fees. One dealer even asked for additional $1500 to their advertised price if you are paying cash. I was in the market for a new vehicle but I have decided to sit this out until some sanity comes back.
Carmax is still asking 19k for 9 year old cars that were 25k new 😅
It’s because they’re buying over
EVs losing value is overblown especially Teslas. All vehicle prices ballooned and dropped since post-covid. Further, part of the inflated depreciation of EVs is specifically because of the $7500 rebate. If it’s $54k it only cost you $46.5k, so the fact it went down in “value” by an extra $7500 is meaningless bc that was money you never invested in it. I’ll make it even more obvious for people: if a car is valued at $100 million and you pay a dollar for it, and then the value drops to $10 million tomorrow, losing 90% of its value, is it still a good investment to spend a dollar and end up with a $10 million dollar car? “But it depreciated in value by 90% in less than a year!” Right?And when you look at the difference in depreciation between new ICE and EVs, what do you see? The difference in depreciation is majority from rebate. People don’t understand this very obvious and clear fact. This is especially foolish to show Teslas as an example because Teslas have proven to hold their value much higher than any other EVs on the market. They depreciate at like half the rate which probably means when you factor the rebate they actually hold a higher value than many ICE vehicles.
I'm still waiting for car prices to go back to normal. As in a camry with 100k miles doesn't cost 12k all in.
Still ridiculously high
Your title is misleading! I'm being nice because I like ideal car strategies. The video, as usual, has good information but doesn't show even one example of a 70% price drop, or how much the car market has collapsed!
If you can’t afford the loans, you sure as shit can’t afford to lease. Leasing only makes sense when you have a high income and cycling through vehicles as a convenience of avoiding repairs because you want to replace your vehicle every two or three years.
Brother doesn’t know that the AI in the FSD can self drive and even act as an Uber… BRO!