Thursday, June 11, 2015

Used EV Market Value

The used EV market is upon us and it has been taken advantage of from the DIY guys and the wrecked and mangled EV's have been stripped of the EV components and are being sold off to anyone who wants them. It has been said that the used EV situation will harm the EV movement because of the Used Value on the used vehicle market. If it happens to be true and the manufacturers fail to open a market to buy new battery packs for their used EVs on the market then the EV movement will die, again. I do know that Nissan will sell you a new pack for $5200 but not including install. Still if I find a great condition lease vehicle on the market that is in need of a new battery I could buy it for a real low price and then put in a new pack and still sell it for a very good price and allow a person to get into electric vehicle for far less than new. Just like today in the used car business. A used car is not worth much if the engine is OLD and in need of replacement. With a great engine it will sell at a much higher resale price bringing up the value to reasonable level. With the EV it will mean having a great new pack installed for a reasonable price. If it happens that I can buy a Leaf in excellent condition but needing a New Pack I think it might just work. I may actually try it out with a Leaf. Buy one cheap and put in a New Pack and sell it for $18k. Still in a good used car price for a 2 to 3 years old vehicle and with a new pack. Not used. That makes it very attractive to a possible buyer. Bringing electric closer to every day prices. Even Tesla is seeing that. A used S model at a $50k price sure beats the full $120k price of new. It allows folks like me to reconsider a Tesla. Creating an excellent buyer market for used EV's. No, I'm afraid the EV movement will not die after all. There will be a huge aftermarket for the used components that it will be nothing to find a great used drive line and stuff it to another with a bad power plant. Go get a new battery and your good to go. Low miles and a new battery. Im going to do that once my Lease on the current Leaf is up. Turn it in and go find a good used EV where I can purchase a new pack and be on my way for another 5 years or so.