[[email protected]]

I don't typically look at used cars on the market, but with the i-pace being on sale for only a year is 40 a lot considering its only a year and they've only sold a few thousand? According to autotrader the least amount of miles is 10? How can that be a used car? The car with the highest mileage is 10,471. The cheapest car is $64,899 for a HSE with 5087 miles and most expensive is $93k. There is one private seller asking $71k. He/She really must want to get rid of it.


There is one used 2020 for sale.


For comparison there are only five used 2019 Tesla Model S listed for sale, four Model X and 44 Audi E-Trons

 

[kkemp]

Nearly half of those (18 of 40) are from the same seller and are very basic listings with no photos. Makes me wonder if those listings represent actual cars they have on their lot or if there is something else going on.

 

[Dantrium]

I don't typically look at used cars on the market, but with the i-pace being on sale for only a year is 40 a lot considering its only a year and they've only sold a few thousand? According to autotrader the least amount of miles is 10? How can that be a used car? The car with the highest mileage is 10,471. The cheapest car is $64,899 for a HSE with 5087 miles and most expensive is $93k. There is one private seller asking $71k. He/She really must want to get rid of it.


There is one used 2020 for sale.


For comparison there are only five used 2019 Tesla Model S listed for sale, four Model X and 44 Audi E-Trons

The one listed with 10471 is my old car & they have it listed at $74555. The same dealer has another Photon Red FE with only 469 miles listed for $10000 less! Not sure how that pricing works...

I would guess a fair number of the cars are, like mine, corporate buybacks. It just occurred to me that is another incentive for JLR to do the voluntary buyback over a forced lemon law buyback. The can avoid having a negative CarFax on the car.

 

[dtgsrq]

I'm sure my 2019 FE with 5k miles is out there somewhere "on the market"... only thing wrong with it was that the heated windshield caught me by surprise - HATED the distortion. JLR refused to allow dealer to change out the windshield so dealer architected a "trade-in".

I'm most surprised by your mention of 44 Audi e-trons... those have only been out a handful of months??

 

[SeanM1]

If you want to see a lot of tesla go to swap a lease site. Sometimes there is a huge inventory of people who just want out.

 

[jsimon7777]

Oh man. P100D for $2,111.57 a month, and that's after they do a huge incentive. Almost 500 miles left a month! Meanwhile a new lease is much, much less. And the 91k end of lease buyout. Sigh.

Don't get me wrong. Our car doesn't have the greatest residual. But a P100D that sold for 150k 2 years ago? That's a car with a crap residual.

 

[nath_h]

I just bought a 2nd I Pace, so spent a lot of time looking at various options. The one I bought was a dealer demo w/ 2,200 miles and never titled. It was new, but somehow they applied the CPO warranty and it was listed under "used". So maybe some of those cars fall in a weird category that are not quite new and not quite used. I think there are enough 2019's on lots that dealers are getting creative regarding how to clear them out w/ 2020's already coming.

I don't typically look at used cars on the market, but with the i-pace being on sale for only a year is 40 a lot considering its only a year and they've only sold a few thousand? According to autotrader the least amount of miles is 10? How can that be a used car? The car with the highest mileage is 10,471. The cheapest car is $64,899 for a HSE with 5087 miles and most expensive is $93k. There is one private seller asking $71k. He/She really must want to get rid of it.


There is one used 2020 for sale.


For comparison there are only five used 2019 Tesla Model S listed for sale, four Model X and 44 Audi E-Trons

 

[PS702]

If you want to see a lot of tesla go to swap a lease site. Sometimes there is a huge inventory of people who just want out.

Teslas are at the Manheim and Adesa Auctions
Tesla controls the flow of the cars to the public and their resale values are atrocious.
The lease residual values are not inductive of the true market values.

Tesla resale values are so poor that they couldn't even create a lease program with a financial institution for the Model 3.

 

[NerdUno]

We happen to have one in mint condition that we plan to sell locally (Charleston, SC) because we need a car for traveling and the infrastructure just isn't there yet in S.E. United States. If anyone is interested, we'll consider any reasonable offer. Loaded 2019 FE with 7K miles.

 

[[email protected]]

The one listed with 10471 is my old car & they have it listed at $74555. The same dealer has another Photon Red FE with only 469 miles listed for $10000 less! Not sure how that pricing works...

I would guess a fair number of the cars are, like mine, corporate buybacks. It just occurred to me that is another incentive for JLR to do the voluntary buyback over a forced lemon law buyback. The can avoid having a negative CarFax on the car.

My corporate buyback is also listed for sale at overflow $73k, not sure they’re gonna get anything over $70k when you can buy new for less with the tax credit. Buyback is better than writing off a lemon

 

[PS702]

The one listed with 10471 is my old car & they have it listed at $74555. The same dealer has another Photon Red FE with only 469 miles listed for $10000 less! Not sure how that pricing works...

I would guess a fair number of the cars are, like mine, corporate buybacks. It just occurred to me that is another incentive for JLR to do the voluntary buyback over a forced lemon law buyback. The can avoid having a negative CarFax on the car.

My corporate buyback is also listed for sale at overflow $73k, not sure they’re gonna get anything over $70k when you can buy new for less with the tax credit. Buyback is better than writing off a lemon

HSE with a lot of options, 1600 miles, flawless condition, just sold for $55,750 at auction.

 

[Dantrium]

HSE with a lot of options, 1600 miles, flawless condition, just sold for $55,750 at auction.

I looked at trading mine in this past May and was offered <$60k, so when JLR offered to do the buyback, I couldn't say 'yes' fast enough. I feel bad for folks that have found they can't keep the car long enough to soften the blow of the crazy depreciation. Losing 30-40% in less than a year sucks! I have zero regrets about not having an I-Pace, but if the prices keep falling like this, within a year maybe I can get back in one for ~$35k or so.

 

[epirali]

Cars like this take a large initial hit but I don’t think you’ll see depreciation curve continue like that. A lot of it is between tax credits and discounts on new ones. Should be more linear going forward.

I for one never but cars to “hold value,” I look at function, what I want, and how long am I willing to keep it. The pricier has more “different” the car the more chance of big hit in resale. Just look at a 2015 i8 used price, doesn’t mean it wasn’t worth having one.

 

[Dantrium]

“I don’t think you’ll see depreciation curve continue like that. Should be more linear going forward.”

Very likely - one would hope so anyway

“I for one never but cars to “hold value,”

If you are buying a new car solely for that, you have a huge opportunity for disappointment.

If you are buying the car expecting it to have a 40% drop in 12 months, you will likely never be disappointed. But it still sucks

 

[PS702]

“I don’t think you’ll see depreciation curve continue like that. Should be more linear going forward.”

Very likely - one would hope so anyway

“I for one never but cars to “hold value,”

If you are buying a new car solely for that, you have a huge opportunity for disappointment.

If you are buying the car expecting it to have a 40% drop in 12 months, you will likely never be disappointed. But it still sucks

This why leasing is the only options for me, but the residuals are horrible (45%) which makes the lease not look too hot.



In terms of the curve, EVs take a greater hit than ICE. Ive seen $130k Tesla S go in the 40s after a few years.

 

[epirali]

In terms of the curve, EVs take a greater hit than ICE. Ive seen $130k Tesla S go in the 40s after a few years.

This was definitely true as the basic battery technology and capacity was rapidly changing. It will be interesting to see what happens now that we are settled in the 240 mile range. First there will be slower incremental increases and second 240 mile range opens a much larger used market buyer than say 100 miles. Ive noticed Chevy Bolts coming off lease are holding around 20-24K in my area with 40K miles. That is not bad after 2 years and if you take away the tax credits buyers got.

As for Tesla, well I argue it wasn’t worth $130K to start, and with the flood of Model 3s that are superior in a lot of ways to those Teslas at much lower price I am not at all surprised. Tesla was artificially propping up used Tesla prices by buying them up (I am sure at a cost to investors) to maintain a fake “high resale value” story. I believe that stopped a couple of years ago.

 

[PS702]

In terms of the curve, EVs take a greater hit than ICE. Ive seen $130k Tesla S go in the 40s after a few years.

This was definitely true as the basic battery technology and capacity was rapidly changing. It will be interesting to see what happens now that we are settled in the 240 mile range. First there will be slower incremental increases and second 240 mile range opens a much larger used market buyer than say 100 miles. Ive noticed Chevy Bolts coming off lease are holding around 20-24K in my area with 40K miles. That is not bad after 2 years and if you take away the tax credits buyers got.

As for Tesla, well I argue it wasn’t worth $130K to start, and with the flood of Model 3s that are superior in a lot of ways to those Teslas at much lower price I am not at all surprised. Tesla was artificially propping up used Tesla prices by buying them up (I am sure at a cost to investors) to maintain a fake “high resale value” story. I believe that stopped a couple of years ago.

I agree with everything you said

With most cars, including EVs, they fall to a baseline price.

Model S all fall to the low $30s and stay there, no matter the options or miles.

The market at @ $20-$24k is the sweet spot for EVs buyers so the Bolt should stay there for a while

 

[Time2Roll]

I will let my future self worry about resale in another 10 years.

 

[LOLTSLA]

We happen to have one in mint condition that we plan to sell locally (Charleston, SC) because we need a car for traveling and the infrastructure just isn't there yet in S.E. United States.

Well this is a bit of a surprise to hear. Can you go into any details on your experiences with the charging infrastructure? Electrify America is very quickly building out a massive charging infrastructure, and I already see chargers surrounding Charleston along all the major freeways. That's not slowing down any time soon.

Is it just that there aren't charging locations along the routes where you travel? Or are the chargers too unreliable? Does it take too long to charge when you're traveling?

Personally, we're a two-car household. One is the I-PACE, which we use for trips that require no rapid charging, or maybe just one charge along the way if we can time it to coincide with lunch or dinner. The other is an XC90 T8 (PHEV), which we use for trips that are less than 20 miles and for longer road trips that would ordinarily require several long stops to charge in the I-PACE.

When just sticking around town and doing the occasional 100-to-200 mile trip in the region, between the BEV and the PHEV we only have to buy gas maybe 6 or 7 times a year, which is close enough to 0 to give us the "wake up every morning with a full tank" benefit. And when on the longer road trips, instead of getting only something like 20 miles of range in 5 minutes of "refueling" from sparsely provisioned (and often unreliable) chargers, with gasoline I get more like 400 miles of range in 5 minutes pretty much wherever and whenever we want. And we don't have to be complete and total slaves to the limitations of the charging infrastructure.

So basically what I'm saying is that PHEV is the only thing that makes sense to me right now if you're going to be doing regular longer road trips in the United States.