Correct, so you dodged the 25-35% cost of driving out of the lot, but unless its so old the resale value is like 5-10% of the og cost, depreciation is still going to be your greatest loss, likely 10-20% per year. Thats a few thousand dollars.
That assumes I’m going to sell it for more than scrap value. When I’m done with it, it should be worthless. Its not an investment, it’s a tool, I’m not worried about the resale value on it any more than I’m worried about the resale value of my socket set.
Edit: You did catch that it’s a used EV, right? I bought it for something like 1/4 it’s original sale price. This isnt a two year old Honda Accord.
Have you looked at a depreciation curve? For newish vehicles, the biggest “expense” is depreciation. Its higher for luxury cars and EVs than trucks.
Yeah, but I didn’t buy a new ev…
Correct, so you dodged the 25-35% cost of driving out of the lot, but unless its so old the resale value is like 5-10% of the og cost, depreciation is still going to be your greatest loss, likely 10-20% per year. Thats a few thousand dollars.
That assumes I’m going to sell it for more than scrap value. When I’m done with it, it should be worthless. Its not an investment, it’s a tool, I’m not worried about the resale value on it any more than I’m worried about the resale value of my socket set.
Edit: You did catch that it’s a used EV, right? I bought it for something like 1/4 it’s original sale price. This isnt a two year old Honda Accord.