Its because you can buy a new model 3 and get the $7500 tax credit, a $1000 referral credit and the other person gets $500....and the prices change constantly.
When looking at many EVs you also have to consider that there is a federal credit and often times a state credit, so resell value will drop because there is less incentive to buy used and lose out on the tax credits a need car offers.
@@yankeesusa1this. Completely missed in the video. Last year the used ev credit wasn’t point of sale, now it is. So it’ll be reflected in the advertised sales price and the recorded. For the non-luxury EVs, this is right around the amount they say the value dropped.
Surprised the Jeep Grand Cherokee 4xe was not on here. I just sold mine today, a 2022 at over 50% lower than MSRP. I've owned 9 Mopar products and that Jeep was the biggest POS I've ever had. I averaged 1.7 trips per month, excluding routine maintenance to the service center because it broke down. I'm a big Mopar fan, but so disappointed.
Yeah but you won't hear TFL cover stories like this, they're waaaay too scared of pissing off any of the OEMs they work with so the most you'll hear is extremely milk toast criticisms about nothing burgers. I've heard countless people say their 4XE was a complete pile of 💩 but you won't hear that on these channels. I would recommend SavageGeese if you want actual reviews with people who don't wear kids gloves
Stay away from US manufacturers if you want stellar reliability. Toyota/Lexus and Mazda are always at or near the top of the most to least reliable list.
Biggest reason EVs are leading in depreciation is simply because they're so overpriced to begin with. The next biggest problem is everyone worrying about battery degradation. Those two things make them virtually worthless to a casual buyer like me. Why would I gamble my money on a complete unknown like a used EV when I can buy a used Honda or Toyota with proven track records? A conventional ICE vehicle from a good brand means I have good odds of it lasting me 20 years relatively trouble-free.
It’s the 7500 tax credit. Car MSRPs for 40k, everyone looks at it and laughs and goes “no, you paid 32.5k” which is 19% depreciation right off the rip. Re-evaluate EV data it’s the tax credit taken off (re-align the MSRP) and it’s a lot more standard. It’s also one of the reasons why the BMW EVs haven’t depreciated as much - they don’t look like EVs and a lot of them don’t sell with tax credits.
@@Charlie_lj tesla suffers from one vendor flooding the market with a lot of one item. If U-Haul flooded the market with 30,000 used pickups (with many of them newer base Chevy Silverados) it would crash the value of pickup trucks fairly quickly, especially if they did it in the fire sale way Hertz did.
Better yet, get a Toyota/Lexus hybrid. With gas prices not going down anytime soon, hybrids are sure to retain their values better than pure ICE that aren't made by Porsche.
@@davepaturno4290 you know, there are still some use cases (such as living in KY, WV, or WY or driving in areas where even getting petrol causes range anxiety the the UP of Michigan or Northern Montana) where I couldn’t argue that a hybrid ICE car is a plausible thing to do.
You'll be disappointed to find out that, despite the claims of the EVangelists, they still require maintenance. And it ain't cheap. EV's still have brakes, HVAC, suspension, tires - all of which are overloaded in an EV compared to an ICE vehicle, and all of which will require maintenance. The only thing you're really saving money on are oil changes, and differential fluid changes every 60k miles. Big whoop.
@@Dankcatvacsactually it is not a bad idea. 8 years ago a friend got a Nissan Leaf for about 5k (i basically told him that he was an idiot), the car could go in a good day no more than 80 miles but he needs to drive only 50 miles daily, the car payed itself probably in the first 3 years, now (8 years later) he is basically making money out of the Nissan
@@nothingtoseaheardammit Anecdotal data point, but I bought my 2020 Model Y Performance back in June 2020, and after 4 years and 101k miles (yes I averaged 25k miles because it's really fun to drive and road trip in), aside from wear items like tires, cabin air filter, washer fluid, and wipers, I've only had to repair a couple of things. The front air louver, which cost $700 due to a piece of wood getting into the grille and knocking out/corroding a wire. But I visit a lot of State and National Parks, so that explains how that likely happened, and the only thing I noticed was the fans would run really loud when I supercharged. I also replaced the 12v battery about 2 months ago. The car didn't give me any warning messages about it, but I replaced it after 4 years just before my 2200 mile trip to Yellowstone as I didn't want to risk having it die out there. That cost around $128, and the Tesla mobile technician replaced it in the parking lot at my workplace. I did have to get the control arms replaced due to squeaking when turning, but that was covered under warranty at 49k miles and it hasn't reoccurred since with the new part. I've also done road trips ranging anywhere from 500 to 6300 miles visiting National Parks such as Yellowstone, Death Valley, Rocky Mountain, Grand Canyon, Great Smoky Mountains. I've also driven on the Tail of the Dragon between North Carolina and Tennessee, along with Pikes Peak in Colorado, and even went around Lake Michigan. Otherwise it's held up pretty great. No need to do oil changes, transmission flushes, head gaskets, clutches, timing belts, alternator, muffler, spark plugs like in my old Honda Civic. The brake pads still have a lot of life left in them thanks to regen braking where the electric motor slows the car down, and regenerates a little bit of electricity back into the battery.
You stated that smaller, entry level premium and luxury cars don't do well and cited the X2 and Range Rovers, but at the same time I consider the X1 and 2 Series BMWs to be pretty much entry level, but ended up on the biggest gainers list.
The depreciation calculation for EVs is flawed because of the subsidy. Who is going to pay $25K for a used Nissan Leaf, if they can get a new one for $20.5K (or $14.5K in CO)?
Tommy you should follow up on the packs. Bolts dont all have new packs gm quit replacing them. GM also just lost a big lawsuit. Would be a worthwild tfl ev video. I still love my bolt btw
I find the Tesla depreciation numbers misleading for two reasons: 1) Tesla MSRP is the actual price there are no dealer markups or extra fees 2) Nearly all other manufacturers had 15-25% dealer markups (sometimes more) during the supply chain constraints of 21-22. So, the MSRP may have been $40k but the actual price was $50k. If you calculate depreciaton based on the actual price versus the fake MSRP price, you get different results 3) $7500 tax credit. You can't just ignore it. There should be a correction factor.
2 หลายเดือนก่อน +4
Tesla fanboy/Bot right on cue to defend the cult leader.
We needed a second car and loved our Tesla model 3 2022 be bought new. So we picked up a used 2022 model 3 identical spec from Tesla with extended warranty and FSD. The kicker, it was almost half the price of our 2 year old model 3. Incredible value.
Ford has been having a bad month with all these Ecoboost issues. This stuff could have been remedied extremely early to save the company the losses and its reputation.
I've been looking far and wide for a used Model Y but unfortunately they are NOT depreciating very quickly AT ALL. Maybe they will fall more by next year when I get serious about buying.
Many EV's are skewed by the tax credit. Out the gate today's Model 3 LR MSRP is $43k but most get it for $36k, if not less with a state rebate. This hits the resale market quite noticably. It affects the "non-tax credit" base model too as those sellers compete with the more upscale version.
I thought for sure the Hummer EV would be #1. I love it, but it’s worth $60k the second you buy it. That is exactly why I don’t have one. Also good to see Jeep on the appreciation list. Please do a story on Jeep vs Bronco today. I think it would be a good watch.
I compared the brand-new prices v. KBB used car estimates for the 2023 models of the Kia Niro, the Niro PHEV, and the Niro EV. In their first year of ownership, Niro would have lost 17%, Niro PHEV 28%, and Niro EV 35%. And that takes into account the $6,500 bonus cash Kia offers for the EV. I realize my numbers are very rough, but they tell me to either buy a used EV, lease a new EV, or just settle for a plain hybrid. Or maybe buy a new EV and enjoy it, and forget about the depreciation. It's the same for any new, fast-improving tech devices (like PCs way back when they were the shiny new things to buy) - early adopters always lose their shirts.
If you can get a Nissan Leaf for $14.5K, or $9pm lease, then there is an immediate 50% depreciation over the sticker price. While the subsidy isn't as great in other states, unless you factor in the subsidy, the depreciation calculation is flawed for many EVs.
Roman, you criticize Elon for giving CA the middle finger, I applaud him for it. Nice to FINALLY see someone of significance tell that state of insanity to kiss off.
@@freddybell8328 History is written by the winners, so if INSANITY prevails and the pinkos get their way he will be portrayed as the 21st century stalin/h**ler/Mao/PolPot, hmm what do three of those monsters have in common with the average lune in CA? COMMIES!
IMO the long term economy of EVs is pretty bad and people are waking up to it. The total lifespan of an EV is the life of the original battery and, if you're lucky, a warranty replacement battery. After that, it's headed to a wrecking yard or toxic waste disposal site because a replacement battery is worth more than the resale value of the car...assuming you can even get one. I'm not a hater, I like the idea of an electric vehicle, but the batteries aren't ready for prime time, nor is the infrastructure.
I agree, but the same could be said of a gas engine. Once the engine hits its limit, the vehicle is typically destined for recycling. So, if a battery can go for 200k-300k life time miles and then be recycled, isn’t it kinda the same? (I have no idea the life time miles for batteries)
Lithium Iron Phosphate batteries will last much longer, likely longer than most people keep cars for. Most people start getting rid of their cars when they hit 200k+ miles. Some will make it to 300k miles but statistically very few make it past 300k miles without the piston rings being shot or a bad head gasket. Typically costing more to fix than it’s worth as well. Long Long term though, petroleum will get harder to find, so they’ll need to frack further and deeper, adding to cost. Gasoline will become more and more expensive. 20-30 years from now you’ll be glad there an EV infrasrtucture to support and alternative to gasoline.
@@christian_esquivelthe big difference is that no matter how well you take care of that battery, it will degrade. You take care of a gas engine and it will go much further than a battery. Plus engine rebuilds are a thing that can prolong the life of a gas car. EVs don't have that option in most cases. This means that EVs are disposable cars by nature.
@@Sal3600 Battery capacity has direct impact to maximum current charging and discharging, meaning less power, and for most EVs with puny brake pads relying on regenerative braking, longer braking distance
Yes it's a good deal, I'd try to get a few more off. But low miles and low wear you'll be good to go. Just know your resale value will be very tough to swallow. 😊 ENJOY LIFE IS SHORT,
Love my used 2023 Volvo C40 Recharge for $28K, which is a 50% drop from the new price. I bought it from Hertz, which is liquidating its EV fleet. It's a below average EV but very nice car at a great price.
I live in Beijing, where the EV market dominates. There are far too many models competing for market share, so few EV makers are actually profitable. By N American standards, though, prices are really low. Legacy automakers are all bleeding red ink; most are cutting back or leaving the Chinese market. This trend of more afordable EVs is spreading & resulting in dramatic auto market shifts in Thailand, Malaysia & elsewhere.
So a used model 3 was over $33000 last year? Insane. You can get a new refreshed Model 3 for $35,000. The refreshed Model 3 is amazing. I think this has a lot more to do with the reduction in used Model 3 prices than anything Musk is doing or saying.
@@TFLcar They also require off-street parking and a costly charger installed in the home. They require long wait times to "refill" (anything more than 5 minutes is too long). They will all suffer from battery degredation (chemistry - can't avoid it no matter how fancy your thermal control is). They are sensitive to weather conditions (can't be too hot, or too cold in order to optimize range). They cannot haul heavy loads, or pull trailers without suffering performance and range degradation. They wear through tires faster. They cause homeowners insurance rates to go up if you charge it at home. When they do catch on fire (And South Korea's insurance companies have determined that EV's catch on fire more frequently than ICE cars do now) they are much, much harder to put out and cause much more damage (again - according to insurance data published in South Korea). So you save a couple bucks on oil changes. Congrats. That - by no means - makes up for the hideous inconvenience and downright danger of owning an EV.
Yeah right Roman, no thoughts given to apartment towers that will never let tenants charge at home. Keep encouraging EVs, one day the poor will come for ya. It'll be like Stalingrad, you'll be out of ammo and they'll still keep coming. GNR had a good song about civil wars.....
5:52 I would also argue that their cars are just overpriced from the jump and that hurts resale because the market just adjusts to what the true value of the car is. and I don't mean "overpriced" like everyone is today. I mean "overpriced" like it was before covid, and now it's just silly in some cases. See the i-pace.
They are rampant in the comments on most of the channels I watch. I don't understand what their game is. I guess they just want to be interacted with so the human scammers will know they have an idiot on the hook.
Many homes need to upgrade their electrical system to charge an EV…. The cost of installing a 240v level 2 charger at home can be in the thousands…That drags down the used value of EVs too.
How and where did you lease a Leaf for $9 per month (9:45)? "Cheap lease" is an understatement at that price. I haven't seen the car, but I'll take it at that price for as long a term as possible.
"For some mysterious reason??!?!?!?!?! REALLY ROMAN? REALLY?! I mean he communicated the reasons Tesla left CA pretty clearly. The COVID lockdowns, hostile business environment and the targeting of his company due to his personal political beliefs (what is this, East Germany?) caused him to move Tesla out of California. Call them "reason" but not "mysterious reasons".
Elon Musk famously telling gullible fanboys that their used Teslas will increase in value while at the same time continuously dropping the price of the newer cars has to go down as one of the dumbest things I've heard in the auto industry in my life.
Roman, have you priced a similarly equipped Yukon to an X7? The Yukon is larger but that's the only thing it's better at than the X7. Yukon's are stupid money for what you get compared to an X7. I cross shopped both and it was an easy decision to get the X7.
good cars aren't cheap, cheap cars aren't good. the days of the 5k 300=k mile reliable car are long dead and gone, if its cheap its either a diamond in the rough or a shitbox.
Not only did Elon Musk give buyers the middle finger, he gave anyone hitting a charger the middle finger, firing the entire charger engineering group plus opening the chargers to a bunch of other brands. So now, instead of driving right up to a supercharger and getting that charge while you get lunch, you'll pull up like we did to gas stations in the 70's and wait for an hour to get to a charger, then get to charge.
@@aussie2uGAyeah i was thinking 2017+ model 3. an ev fits my lifestyle very well , just something i was considering but know very little about their reliability.
@@plutodestroyer12 2018 model 3 here with 125k miles, only seen Costco for tires. I know several approaching 200k without issue too. It’s been the most reliable car I’ve owned, including my tundra.
Stay away from model S and Xs, according to Consumer Reports magazine. Model Ys and 3s have had poor quality of build with uneven panel gaps and paint issues.
Unfortunately and fortunately sports cars seem to hold their value. Unfortunately because I’m having a hard time fining a good NC Miata at a fair price with decent mileage on it. And Fortunately because when I buy a Miata and decide I don’t drive it enough to justify the cost I’ll likely get most of my money back.
I bought a salvage title 2008 MX5 PRHT in 2012 for a tad over $10k. It had 42,000 miles on it. Today, it has 66,000 miles on it and is worth $10k. I don't drive it as much since I retired, but added a new Supra. I like both for different reasons.
You had any issues with your mechanical roof? Rattling/top not going up or down smoothly, etc? I was initially thinking of getting a PRHT but the ones I’ve looked at didn’t seem to work 100% and it wound have really bugged me. Looking now more at the soft tops, which have their own issues but at least less mechanical issues to deal with.
@treeskier802 The Mazda forum I peruse often includes a folder specifically about PRHTs. Apparently, a particular silver screw can come loose and cause issues but it is easily tightened. Occasionally a switch will fail, but I've found that the vast majority of PRHTs have been extremely reliable. In the 12 years I've owned my MX5 PRHT, the top has never failed. I installed a Smartop module, many years ago. It allows opening and closing of the top with one press of the button, at speeds of up to 30 mph. ...never any rattling, but it never gets near freezing where I live.
Is Elon on vacation? What happened to Tesla?? They missed the mark in 2020 when they were pushing financing over leasing. Great vehicles, but could have easily exported end of lease vehicles abroad, and thus keep production sales flowing nationally here in the US. (retention for roll-over purchases would have grown so much example Ford).
It’s no wonder these cars crater as used cars and trucks, after the warranty expires these vehicles will drain your bank account and leave you broke and homeless because of their expensive maintenance costs.
Did you include your tax credit and CO EV incentive in your M3P cost? Yeah, you lose that money instantly selling it used because you got that as a discount off your purchase price. “The car itself has a starting price of $40,240 (plus $1,640 of obligatory costs), but recently it became eligible for the full $7,500 federal tax credit, which brings the effective cost to $34,380. That's the starting point on the federal level. When deducting the new $5,000 tax credit in Colorado, the base Tesla Model 3 RWD should be effectively available for $29,380.” The new Performance would be $9k more.
I am sorry but the Range Rover Sport, Range Rover Velar, and Range Rover evoque are not the same car they are built on different platforms. Plus the Range Rover Sport which start at $85K is not entry level when its the 2nd most expensive Land Rover Product after the Range Rover.
The problem with EV sales is innovation and they’re still ramping in volume. EV’s are still in their infancy. People want the latest and greatest. Manufacturing for most brands haven’t hit their stride. So prices of EV’s will continue to drop as battery manufacturing in north america ramps up.
@@nothingtoseaheardammit Battery production is not just about EV's. It's about not being crippled by China if we get into a trade or world war. China controls most of the battery production in the world. We need to have some way of producing batteries in North America, in good volume. As of July 2024 from a techcrunch article, the latest tracking shows that most of the factories are under construction and slated to start production in 2026 and 2027. There are literally billions invested in many of these factories, they aren't going to just stop construction. So after the ramp up in production and hit their stride, say 2029 or so, batteries prices will be much cheaper. We'll have a full closed loop supply chain in North America, from mining to the cell factories.
You only have one chance to make a first impression... However, your company's CEO has his whole life to drive away half of your customers with his deranged behavior and polarizing politics.
So when you get the TAX CREDITS do you actually think losing 16k on a model 3 is warranted when you got up to 12k in credits?? Only a dummy would think dealers would not take that into consideration especially after only one year of ownership. Let's be real about how tax credits negatively impact the resale of cars hence the reason ELON does not care for them nor need them to sell cars!!!!! Make a video about that!!!
hmm. cant agree that the amg gt is “going against the 911”. well at least it shouldnt be. have owned both. the 911 sounds like absolute garbage in every iteration be it NA or the newer turbo’d ones. NO excitement driving them whatsoever. amg gt with its gbarly v8 is in a different league. it even sounded way better than a GT3 i owned, the whole marque is overrated.
13:54 C'mon Roman, Elon being vocal about problems that California is facing (or causing) isn't "mysterious" as you so ignorantly put it. I appreciate TFL being fairly non-political, so that was a weird and untimely take in an overall fairly interesting video.
We can always rely on Roman to input how he feels in a video. He should start his own channel to voice them and keep TFL videos opinion free. No one comes to TFL to get a personal opinion. Keep it about the cars!
Every SUV is trash if you care about highway range. Leaf is however 15 years behind. Today we have Model 3 and Ioniq 6 that blow leaf out of the water in absolutely every aspect.
With an EV, theres little to none, repair facilites for them. Most will loose 50% of their value, every year. So if its a 20,000 dollar used, it's probably going to be worth 10k, in a year.
@@marcg.3830I decided he was an entitled bratt before 2020 when he decided to have a man child meltdown over a rescue diver telling him his submarine was a waste of time. Never understood what everyone saw in him.
Ev cars are like phones or any other electronic. New tech comes out and the used car becomes a stone. Evs arent worth it new. You have to drive a lot to make it worth it.
The greedy car dealers who wanted $5,000, $10,000, $15,000 and more over list are now seeing them sell for that much and more under! What about a Gladiator, which recently you could get a new old stock one for 1/2 off! Then on the flip side are the fools who paid it!
Really surprised Fisker wasn’t number 1… they’re like 75% cheaper than new right now.
Probably a minimum amount of sales to be included on the list?
@@jimshepardson that would make sense, hard to buy a used vehicle no one is buying new.
More like 100% cheaper hahahaha
1 in 1000 people know what a Fisker is
@@2rightsmakeauturn only because of the recent car troubles and bankruptcy does that 1 in 1000 know lol
Prices aren't cratering...the market is returning to normal...🤷🏾♂️
Its because you can buy a new model 3 and get the $7500 tax credit, a $1000 referral credit and the other person gets $500....and the prices change constantly.
When looking at many EVs you also have to consider that there is a federal credit and often times a state credit, so resell value will drop because there is less incentive to buy used and lose out on the tax credits a need car offers.
They now have a used ev credit of $4,000 but i don't think that will help ev depreciation because of battery wear and tear.
So many people forget this!
@@yankeesusa1this. Completely missed in the video. Last year the used ev credit wasn’t point of sale, now it is. So it’ll be reflected in the advertised sales price and the recorded. For the non-luxury EVs, this is right around the amount they say the value dropped.
Surprised the Jeep Grand Cherokee 4xe was not on here. I just sold mine today, a 2022 at over 50% lower than MSRP. I've owned 9 Mopar products and that Jeep was the biggest POS I've ever had. I averaged 1.7 trips per month, excluding routine maintenance to the service center because it broke down.
I'm a big Mopar fan, but so disappointed.
Edmunds just turned their 4xe GC in and they had similar Stellantis lack of quality issues.
Yeah but you won't hear TFL cover stories like this, they're waaaay too scared of pissing off any of the OEMs they work with so the most you'll hear is extremely milk toast criticisms about nothing burgers.
I've heard countless people say their 4XE was a complete pile of 💩 but you won't hear that on these channels. I would recommend SavageGeese if you want actual reviews with people who don't wear kids gloves
Stay away from US manufacturers if you want stellar reliability. Toyota/Lexus and Mazda are always at or near the top of the most to least reliable list.
Biggest reason EVs are leading in depreciation is simply because they're so overpriced to begin with. The next biggest problem is everyone worrying about battery degradation. Those two things make them virtually worthless to a casual buyer like me. Why would I gamble my money on a complete unknown like a used EV when I can buy a used Honda or Toyota with proven track records? A conventional ICE vehicle from a good brand means I have good odds of it lasting me 20 years relatively trouble-free.
It’s the 7500 tax credit. Car MSRPs for 40k, everyone looks at it and laughs and goes “no, you paid 32.5k” which is 19% depreciation right off the rip. Re-evaluate EV data it’s the tax credit taken off (re-align the MSRP) and it’s a lot more standard.
It’s also one of the reasons why the BMW EVs haven’t depreciated as much - they don’t look like EVs and a lot of them don’t sell with tax credits.
Most ev Leases now have the $7500 discount even for foreign made ones. That will depreciate those cars similar to Tesla
@@Charlie_lj tesla suffers from one vendor flooding the market with a lot of one item. If U-Haul flooded the market with 30,000 used pickups (with many of them newer base Chevy Silverados) it would crash the value of pickup trucks fairly quickly, especially if they did it in the fire sale way Hertz did.
Better yet, get a Toyota/Lexus hybrid. With gas prices not going down anytime soon, hybrids are sure to retain their values better than pure ICE that aren't made by Porsche.
@@davepaturno4290 you know, there are still some use cases (such as living in KY, WV, or WY or driving in areas where even getting petrol causes range anxiety the the UP of Michigan or Northern Montana) where I couldn’t argue that a hybrid ICE car is a plausible thing to do.
It looks like these two were rushed out of bed to make this video😂. Stay healthy boys
Well they are in Colorado, so there is that
Ahhh, Colorado... my stupid, stoned, moronically-Leftist state, on display for all to make fun of.
Holy smokes, I gotta move back to the U.S.!
Love this. I need a cheap EV that I can just beat the sh*t out of and not do any maintenance.
You'll be disappointed to find out that, despite the claims of the EVangelists, they still require maintenance. And it ain't cheap. EV's still have brakes, HVAC, suspension, tires - all of which are overloaded in an EV compared to an ICE vehicle, and all of which will require maintenance. The only thing you're really saving money on are oil changes, and differential fluid changes every 60k miles. Big whoop.
Just buy good cheap car and take care of it. Good luck holding a value with an ev
@@Dankcatvacsactually it is not a bad idea.
8 years ago a friend got a Nissan Leaf for about 5k (i basically told him that he was an idiot), the car could go in a good day no more than 80 miles but he needs to drive only 50 miles daily, the car payed itself probably in the first 3 years, now (8 years later) he is basically making money out of the Nissan
@@nothingtoseaheardammit Anecdotal data point, but I bought my 2020 Model Y Performance back in June 2020, and after 4 years and 101k miles (yes I averaged 25k miles because it's really fun to drive and road trip in), aside from wear items like tires, cabin air filter, washer fluid, and wipers, I've only had to repair a couple of things.
The front air louver, which cost $700 due to a piece of wood getting into the grille and knocking out/corroding a wire. But I visit a lot of State and National Parks, so that explains how that likely happened, and the only thing I noticed was the fans would run really loud when I supercharged.
I also replaced the 12v battery about 2 months ago. The car didn't give me any warning messages about it, but I replaced it after 4 years just before my 2200 mile trip to Yellowstone as I didn't want to risk having it die out there. That cost around $128, and the Tesla mobile technician replaced it in the parking lot at my workplace.
I did have to get the control arms replaced due to squeaking when turning, but that was covered under warranty at 49k miles and it hasn't reoccurred since with the new part. I've also done road trips ranging anywhere from 500 to 6300 miles visiting National Parks such as Yellowstone, Death Valley, Rocky Mountain, Grand Canyon, Great Smoky Mountains. I've also driven on the Tail of the Dragon between North Carolina and Tennessee, along with Pikes Peak in Colorado, and even went around Lake Michigan.
Otherwise it's held up pretty great. No need to do oil changes, transmission flushes, head gaskets, clutches, timing belts, alternator, muffler, spark plugs like in my old Honda Civic. The brake pads still have a lot of life left in them thanks to regen braking where the electric motor slows the car down, and regenerates a little bit of electricity back into the battery.
Knock yourself out- JD Power surveys rate EV’s the most unreliable vehicles available.
You stated that smaller, entry level premium and luxury cars don't do well and cited the X2 and Range Rovers, but at the same time I consider the X1 and 2 Series BMWs to be pretty much entry level, but ended up on the biggest gainers list.
EV's leading the depreciating pack, as expected.
But yet our wonderful government, that says this is the best economy ever, wants everyone to pay for this ev garbage
Rapid improvement for new models and electric fud combined with transitioning to a different charging standard will do that.
The depreciation calculation for EVs is flawed because of the subsidy. Who is going to pay $25K for a used Nissan Leaf, if they can get a new one for $20.5K (or $14.5K in CO)?
Yep, I bought a 2021 Niro EV brand new for $58k, CAN. Got 25K as trade in 2 months ago.
That hurt.
Paying that much for a niro is a crime
I never trade in. By selling the vehicle, myself, I save at least a couple of thousand $ on a 10 year old vehicle.
Tommy you should follow up on the packs. Bolts dont all have new packs gm quit replacing them. GM also just lost a big lawsuit. Would be a worthwild tfl ev video. I still love my bolt btw
One SUV having a big drop in Canada is GV70. It drop 8/9k each year after new. If you want to buy, you should buy used! (except EV version)
I find the Tesla depreciation numbers misleading for two reasons: 1) Tesla MSRP is the actual price there are no dealer markups or extra fees 2) Nearly all other manufacturers had 15-25% dealer markups (sometimes more) during the supply chain constraints of 21-22. So, the MSRP may have been $40k but the actual price was $50k. If you calculate depreciaton based on the actual price versus the fake MSRP price, you get different results 3) $7500 tax credit. You can't just ignore it. There should be a correction factor.
Tesla fanboy/Bot right on cue to defend the cult leader.
You can't factor in what everyone decided to pay for a car. MSRP is the only way to do the calculation fairly
Should MSRP include the $7500 tax credits because of the instant discount at purchase? 🤔
These guys aren't statisticians unfortunately. It's okay the market decides in the end and it's looking good for Tesla.
Not really... I just hate that folks use the fake MSRP as the basis for depreciation. You and I both know that is not the real price.
I feel like Tommy's uncle or something. I have watched him grow up right before my eyes over the last five years or so.
feel free to send him B-Day and X-mas gifts, uncle. 🎉
You are forgetting that the Model 3 went through a redesign which hurt the value of the older models.
Yeah, it looks so completely different, lol
teslas interiors need a ground up redo.
They did when they were new. They've aged like open wine.
Nah mate. Best interiors in the game. The rest are useless and ugly af.
Exterior too!
@@Sal3600You've obviously never seen a Lexus interior or driven an ES300h.
@@steveg7149Nope less is more. Simple designs age better and the interiors are easy to use and clutter free.
We needed a second car and loved our Tesla model 3 2022 be bought new. So we picked up a used 2022 model 3 identical spec from Tesla with extended warranty and FSD. The kicker, it was almost half the price of our 2 year old model 3. Incredible value.
Fantastic values on cars that will strand me in the middle of nowhere. Thanks for the tip, guys!
I bought a 2020 Bolt last year for $15k. Seems like they increased the price since the rebate can be done at POS now.
was this with the 4k rebate on used EV's?
@@Psmitty97 before rebate
Ford has been having a bad month with all these Ecoboost issues. This stuff could have been remedied extremely early to save the company the losses and its reputation.
They need to ditch the Ecoturd and go back to n/a engines.
That would require ford to actually give a shit about quality
I've been looking far and wide for a used Model Y but unfortunately they are NOT depreciating very quickly AT ALL. Maybe they will fall more by next year when I get serious about buying.
They are still not recommended by Consumer Reports magazine, due to poor quality of build and less than average reliability.
Many EV's are skewed by the tax credit. Out the gate today's Model 3 LR MSRP is $43k but most get it for $36k, if not less with a state rebate. This hits the resale market quite noticably. It affects the "non-tax credit" base model too as those sellers compete with the more upscale version.
I thought for sure the Hummer EV would be #1. I love it, but it’s worth $60k the second you buy it. That is exactly why I don’t have one.
Also good to see Jeep on the appreciation list. Please do a story on Jeep vs Bronco today. I think it would be a good watch.
I compared the brand-new prices v. KBB used car estimates for the 2023 models of the Kia Niro, the Niro PHEV, and the Niro EV. In their first year of ownership, Niro would have lost 17%, Niro PHEV 28%, and Niro EV 35%. And that takes into account the $6,500 bonus cash Kia offers for the EV. I realize my numbers are very rough, but they tell me to either buy a used EV, lease a new EV, or just settle for a plain hybrid. Or maybe buy a new EV and enjoy it, and forget about the depreciation. It's the same for any new, fast-improving tech devices (like PCs way back when they were the shiny new things to buy) - early adopters always lose their shirts.
Dont forget about the ev insurance. Many carriers refuse to insure them or charge a huge amount.
Disaster for anyone who bought an ev instead of just leasing it like they should have.
If you can get a Nissan Leaf for $14.5K, or $9pm lease, then there is an immediate 50% depreciation over the sticker price. While the subsidy isn't as great in other states, unless you factor in the subsidy, the depreciation calculation is flawed for many EVs.
Roman, you criticize Elon for giving CA the middle finger, I applaud him for it. Nice to FINALLY see someone of significance tell that state of insanity to kiss off.
Yeah people hate on Elon now but the history books won't.
@@freddybell8328 History is written by the winners, so if INSANITY prevails and the pinkos get their way he will be portrayed as the 21st century stalin/h**ler/Mao/PolPot, hmm what do three of those monsters have in common with the average lune in CA? COMMIES!
Those are very expensive cars, I normally pick the BMW X7. The BMW X2 looks nice as well.
So the Tesla Model S is pretty comparable to high end sedans (BMW and Mercedes for example). This is a list that might be better compared by segment.
IMO the long term economy of EVs is pretty bad and people are waking up to it. The total lifespan of an EV is the life of the original battery and, if you're lucky, a warranty replacement battery. After that, it's headed to a wrecking yard or toxic waste disposal site because a replacement battery is worth more than the resale value of the car...assuming you can even get one. I'm not a hater, I like the idea of an electric vehicle, but the batteries aren't ready for prime time, nor is the infrastructure.
I agree, but the same could be said of a gas engine. Once the engine hits its limit, the vehicle is typically destined for recycling. So, if a battery can go for 200k-300k life time miles and then be recycled, isn’t it kinda the same? (I have no idea the life time miles for batteries)
Lithium Iron Phosphate batteries will last much longer, likely longer than most people keep cars for. Most people start getting rid of their cars when they hit 200k+ miles. Some will make it to 300k miles but statistically very few make it past 300k miles without the piston rings being shot or a bad head gasket. Typically costing more to fix than it’s worth as well. Long Long term though, petroleum will get harder to find, so they’ll need to frack further and deeper, adding to cost. Gasoline will become more and more expensive. 20-30 years from now you’ll be glad there an EV infrasrtucture to support and alternative to gasoline.
@@christian_esquivelthe big difference is that no matter how well you take care of that battery, it will degrade. You take care of a gas engine and it will go much further than a battery. Plus engine rebuilds are a thing that can prolong the life of a gas car. EVs don't have that option in most cases. This means that EVs are disposable cars by nature.
Batteries can last up to 20 years. 10 years point is 30% loss of capacity.
@@Sal3600 Battery capacity has direct impact to maximum current charging and discharging, meaning less power, and for most EVs with puny brake pads relying on regenerative braking, longer braking distance
I lost my ass on a tesla model 3. I’m on my second tesla now, will go back to ICE next time.
Hybrids (especially those made by Toyota/Lexus) are the best sellers for good reasons.
1 owner 22 blue white int model 3 long range awd with acceleration boost for $28,820 Good deal? 24.5k miles.
Nah get new
@@Sal3600 new is like another 17-19k if I factor in the same options
You PAID that much money to be saddled with an electric car? Or did someone pay you $28k? The only way it makes sense is the latter.
@@nothingtoseaheardammit ok? I didn’t buy. I’m asking for opinions and it’s clear where yours is lol.
Yes it's a good deal, I'd try to get a few more off. But low miles and low wear you'll be good to go. Just know your resale value will be very tough to swallow. 😊 ENJOY LIFE IS SHORT,
Love my used 2023 Volvo C40 Recharge for $28K, which is a 50% drop from the new price. I bought it from Hertz, which is liquidating its EV fleet. It's a below average EV but very nice car at a great price.
Unfortunately, their reliability is below average.
Kia Niro EV - The car that makes your neighbors wonder why you don’t get it fixed & painted after the accident.
Tesla is like an IPhone, if you have an iPhone 12, do you really need iPhone 15?
I live in Beijing, where the EV market dominates. There are far too many models competing for market share, so few EV makers are actually profitable. By N American standards, though, prices are really low. Legacy automakers are all bleeding red ink; most are cutting back or leaving the Chinese market. This trend of more afordable EVs is spreading & resulting in dramatic auto market shifts in Thailand, Malaysia & elsewhere.
I just see way too many teslas on the side of the road. Maybe more than any other car.
So a used model 3 was over $33000 last year? Insane. You can get a new refreshed Model 3 for $35,000. The refreshed Model 3 is amazing. I think this has a lot more to do with the reduction in used Model 3 prices than anything Musk is doing or saying.
Roman is pretty pro EV these days
Yes, they are fast and cheap to operate without the need for almost any type of maintenance.
@@TFLcar They also require off-street parking and a costly charger installed in the home. They require long wait times to "refill" (anything more than 5 minutes is too long). They will all suffer from battery degredation (chemistry - can't avoid it no matter how fancy your thermal control is). They are sensitive to weather conditions (can't be too hot, or too cold in order to optimize range). They cannot haul heavy loads, or pull trailers without suffering performance and range degradation. They wear through tires faster. They cause homeowners insurance rates to go up if you charge it at home. When they do catch on fire (And South Korea's insurance companies have determined that EV's catch on fire more frequently than ICE cars do now) they are much, much harder to put out and cause much more damage (again - according to insurance data published in South Korea). So you save a couple bucks on oil changes. Congrats. That - by no means - makes up for the hideous inconvenience and downright danger of owning an EV.
@@nothingtoseaheardammit 100%
Yeah right Roman, no thoughts given to apartment towers that will never let tenants charge at home. Keep encouraging EVs, one day the poor will come for ya. It'll be like Stalingrad, you'll be out of ammo and they'll still keep coming. GNR had a good song about civil wars.....
@@jacquesc3166 an actual crazy person. please seek therapy. you're a danger to your co-humans
5:52 I would also argue that their cars are just overpriced from the jump and that hurts resale because the market just adjusts to what the true value of the car is.
and I don't mean "overpriced" like everyone is today. I mean "overpriced" like it was before covid, and now it's just silly in some cases. See the i-pace.
8:18 it would be on my short list, if I just had a place to plug it in.
Wow, the bots are none stop...
Just reported a bunch of them it’s nuts
Yep crazy fast
They are rampant in the comments on most of the channels I watch. I don't understand what their game is. I guess they just want to be interacted with so the human scammers will know they have an idiot on the hook.
Bots…is that your term for someone you disagree with?
Many homes need to upgrade their electrical system to charge an EV…. The cost of installing a 240v level 2 charger at home can be in the thousands…That drags down the used value of EVs too.
Paid $200 for my 60A install
How and where did you lease a Leaf for $9 per month (9:45)? "Cheap lease" is an understatement at that price. I haven't seen the car, but I'll take it at that price for as long a term as possible.
10k down tho
I'm seeing Tesla's drop 30k in one year in Australia 😅
"For some mysterious reason??!?!?!?!?! REALLY ROMAN? REALLY?! I mean he communicated the reasons Tesla left CA pretty clearly. The COVID lockdowns, hostile business environment and the targeting of his company due to his personal political beliefs (what is this, East Germany?) caused him to move Tesla out of California.
Call them "reason" but not "mysterious reasons".
Mixing politics and business is a great way to fail at both!🤔
@@TFLcar Eat your own words tfl
I can't believe the Porsche Taycan didn't make your list
I’ll look at buying opportunity. I’m looking at getting a used model X to replace my model S.
Consumer Reports magazine does not recommend model Xs, due to their worse than average reliability.
Elon Musk famously telling gullible fanboys that their used Teslas will increase in value while at the same time continuously dropping the price of the newer cars has to go down as one of the dumbest things I've heard in the auto industry in my life.
Anyone who believes Musk needs to have their head examined.
Roman, have you priced a similarly equipped Yukon to an X7? The Yukon is larger but that's the only thing it's better at than the X7. Yukon's are stupid money for what you get compared to an X7. I cross shopped both and it was an easy decision to get the X7.
good cars aren't cheap, cheap cars aren't good. the days of the 5k 300=k mile reliable car are long dead and gone, if its cheap its either a diamond in the rough or a shitbox.
It's hilarious that Ev's are in the same value category as a Massa... an all worse than Landrover.... hahaha
Not only did Elon Musk give buyers the middle finger, he gave anyone hitting a charger the middle finger, firing the entire charger engineering group plus opening the chargers to a bunch of other brands. So now, instead of driving right up to a supercharger and getting that charge while you get lunch, you'll pull up like we did to gas stations in the 70's and wait for an hour to get to a charger, then get to charge.
Is depreciation based on msrp or average selling price?
So I looked. It took some time to find, but it is based on msrp. That makes this list and any like it nearly useless.
How come all the vehicles that people HATE Tommy wants you to buy? No thanks
Interesting on the Model 3, in 2020 owners were quick to brag their car had the best resale. The pitfalls of having such a vocal CEO.
If only that was the reason.
Tesla dropped the new car prices substantially which in return killed the resale value.
The CEO being vocal doesn't drop the cars resale.
Just say you hate Elon’s politics. It would be much more honest.
Elon opens up Twitter from government agendas/censorship and the MSNBC crowd goes nuts.
You couldn't GIVE me an EV!
Smart
is buying a used tesla a good idea?
Never, unless it’s under warranty
Depends on which one. Older S&X I'd say no. The Model 3 and Y are proving to be near indestructible, even with very high miles.
@@aussie2uGAyeah i was thinking 2017+ model 3. an ev fits my lifestyle very well , just something i was considering but know very little about their reliability.
@@plutodestroyer12 2018 model 3 here with 125k miles, only seen Costco for tires. I know several approaching 200k without issue too. It’s been the most reliable car I’ve owned, including my tundra.
Stay away from model S and Xs, according to Consumer Reports magazine. Model Ys and 3s have had poor quality of build with uneven panel gaps and paint issues.
Cars are a waste of money. Just buy a reliable, low mileage, low tech car.
Tesla. Hahahaha. Elmo strikes again. Total crap.
Unfortunately and fortunately sports cars seem to hold their value. Unfortunately because I’m having a hard time fining a good NC Miata at a fair price with decent mileage on it. And Fortunately because when I buy a Miata and decide I don’t drive it enough to justify the cost I’ll likely get most of my money back.
I bought a salvage title 2008 MX5 PRHT in 2012 for a tad over $10k. It had 42,000 miles on it. Today, it has 66,000 miles on it and is worth $10k. I don't drive it as much since I retired, but added a new Supra. I like both for different reasons.
@@davepaturno4290 Congrats on the Supra. Cool car.
@@treeskier802 Thanks!
You had any issues with your mechanical roof? Rattling/top not going up or down smoothly, etc? I was initially thinking of getting a PRHT but the ones I’ve looked at didn’t seem to work 100% and it wound have really bugged me. Looking now more at the soft tops, which have their own issues but at least less mechanical issues to deal with.
@treeskier802 The Mazda forum I peruse often includes a folder specifically about PRHTs. Apparently, a particular silver screw can come loose and cause issues but it is easily tightened. Occasionally a switch will fail, but I've found that the vast majority of PRHTs have been extremely reliable. In the 12 years I've owned my MX5 PRHT, the top has never failed. I installed a Smartop module, many years ago. It allows opening and closing of the top with one press of the button, at speeds of up to 30 mph.
...never any rattling, but it never gets near freezing where I live.
Wait, "for some reason"??? Can you say taxes and crazy policies?
Is Elon on vacation? What happened to Tesla?? They missed the mark in 2020 when they were pushing financing over leasing. Great vehicles, but could have easily exported end of lease vehicles abroad, and thus keep production sales flowing nationally here in the US. (retention for roll-over purchases would have grown so much example Ford).
It’s no wonder these cars crater as used cars and trucks, after the warranty expires these vehicles will drain your bank account and leave you broke and homeless because of their expensive maintenance costs.
New cars prices must drop as oversupply occurs.
Wait for it.
All I hear is a lot of excuses for Evs being mostly a rich persons feel good purchase. Every time the government subsidizes something....it sucks
You don't differentiate between first and 2nd get leafs. You show a second generation, but you are talking about a first generation battery pack.
Roman went full meat head in this one.
Did you include your tax credit and CO EV incentive in your M3P cost? Yeah, you lose that money instantly selling it used because you got that as a discount off your purchase price.
“The car itself has a starting price of $40,240 (plus $1,640 of obligatory costs), but recently it became eligible for the full $7,500 federal tax credit, which brings the effective cost to $34,380.
That's the starting point on the federal level. When deducting the new $5,000 tax credit in Colorado, the base Tesla Model 3 RWD should be effectively available for $29,380.” The new Performance would be $9k more.
Nobody has tried to force me to buy an EV.
Go Ford Go. USA
You showed the new Mercedes amg GT, not the old model.
I am sorry but the Range Rover Sport, Range Rover Velar, and Range Rover evoque are not the same car they are built on different platforms. Plus the Range Rover Sport which start at $85K is not entry level when its the 2nd most expensive Land Rover Product after the Range Rover.
The problem with EV sales is innovation and they’re still ramping in volume. EV’s are still in their infancy. People want the latest and greatest. Manufacturing for most brands haven’t hit their stride. So prices of EV’s will continue to drop as battery manufacturing in north america ramps up.
Battery manufacturing in North America will not ramp up if the EV market here collapses. Which is it. Catastrophically.
@@nothingtoseaheardammit How is it collapsing? Show your work. Other than Tesla everyone is seeing good growth yoy.
@@nothingtoseaheardammit Battery production is not just about EV's. It's about not being crippled by China if we get into a trade or world war. China controls most of the battery production in the world. We need to have some way of producing batteries in North America, in good volume. As of July 2024 from a techcrunch article, the latest tracking shows that most of the factories are under construction and slated to start production in 2026 and 2027. There are literally billions invested in many of these factories, they aren't going to just stop construction. So after the ramp up in production and hit their stride, say 2029 or so, batteries prices will be much cheaper. We'll have a full closed loop supply chain in North America, from mining to the cell factories.
You only have one chance to make a first impression... However, your company's CEO has his whole life to drive away half of your customers with his deranged behavior and polarizing politics.
lol, Elon spent $44billion to open up twitter from government censorship. Turn off MSNBC
Haha, Cayman did better than our 401k’s bahaha
So when you get the TAX CREDITS do you actually think losing 16k on a model 3 is warranted when you got up to 12k in credits?? Only a dummy would think dealers would not take that into consideration especially after only one year of ownership. Let's be real about how tax credits negatively impact the resale of cars hence the reason ELON does not care for them nor need them to sell cars!!!!! Make a video about that!!!
hmm. cant agree that the amg gt is “going against the 911”. well at least it shouldnt be. have owned both. the 911 sounds like absolute garbage in every iteration be it NA or the newer turbo’d ones. NO excitement driving them whatsoever. amg gt with its gbarly v8 is in a different league. it even sounded way better than a GT3 i owned, the whole marque is overrated.
Sadly, Mercedes is ranked near the bottom of Consumer Reports magazine's most to least reliable vehicle manufacturers. Porsche is ranked much higher.
Seems every Model 3 I see is an Uber
13:54 C'mon Roman, Elon being vocal about problems that California is facing (or causing) isn't "mysterious" as you so ignorantly put it.
I appreciate TFL being fairly non-political, so that was a weird and untimely take in an overall fairly interesting video.
Musk is a conman with a cult following.
We can always rely on Roman to input how he feels in a video. He should start his own channel to voice them and keep TFL videos opinion free. No one comes to TFL to get a personal opinion. Keep it about the cars!
Tesla knob-gobblers have entered this comment section.
Roman is anything but non-political.
Whatever weird nerd. Elon still won't notice you.
Per year drop is? Poor
Disaster cause i bought one new.
You act like uconnect is a bad thing.
Tommy will go to his grave defending Land Rover
Tesla Model 3 had a fantastic update as well to hurt the used market.
Ev , lol
Leaf is the beset EV, kona is trash and volt with junk LG batteries too
Yes, Leaf is beset with crappy passive battery cooling.
@@ThisGuyRides Nice. 😂😂😂
Leaf is literally the worst.
Maybe better if you run it in cold climates and only charge it slowly with the 120v cord, otherwise their batteries suck.
Tesla is the best objectively are you a bot account?
Every SUV is trash if you care about highway range. Leaf is however 15 years behind. Today we have Model 3 and Ioniq 6 that blow leaf out of the water in absolutely every aspect.
Why would you even talk about any EV or use a picture of one. What a disgrace for this planet.
Some mysterious reason….. lmao have you been to Cali lately?!?!
You people on this channel and other referring to trucks and SUV’s as “cars” consistently. SMH.
With an EV, theres little to none, repair facilites for them. Most will loose 50% of their value, every year. So if its a 20,000 dollar used, it's probably going to be worth 10k, in a year.
We all know why Musk left California
Apolitical TFL, clueless that Musk’s lunacy is tanking Tesla.
Tesla value is tanking because their CEO value is tanking.
Elon himself is a negative incentive, end of story
You loved him b4 2020 Im sure
Poll proved otherwise. Tesla is nothing without him.
Absolutely.
@@marcg.3830I decided he was an entitled bratt before 2020 when he decided to have a man child meltdown over a rescue diver telling him his submarine was a waste of time. Never understood what everyone saw in him.
Elon is amazing. Even more so now. Keep crying.
Ev cars are like phones or any other electronic. New tech comes out and the used car becomes a stone. Evs arent worth it new. You have to drive a lot to make it worth it.
why do people not understand that prices N E E D to drop if we want more EV adoption???
@@elektroauto4599 ahh, well now that YOU have stated that prices N E E D to drop, I’m sure it will start happening IMMEDIATELY.
Thanks very much! 🤣
@ascgazz you're good at posting emojis aren't ya 😂😂😂
@@elektroauto4599 you’re better at sarcastic compliments than furthering the cause of electric vehicles.
We can’t all be what we want to be, eh?
😉
Your son has zero sense of humor. Needs more personality.
The greedy car dealers who wanted $5,000, $10,000, $15,000 and more over list are now seeing them sell for that much and more under! What about a Gladiator, which recently you could get a new old stock one for 1/2 off! Then on the flip side are the fools who paid it!