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53 Posts
I should have m
im an idiot and like new toys.
Hard Depreciation
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EV6 Reservation Tracker: Add Yours Here!
61 - 80 of 82 Posts
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1 Posts
Yeah, I thought it was extends to Jan 1st,2023.
Does that mean a vehicle purchased between IRA signing and Jan first is still eligible for the half of the credit that is based on battery, just not the half based on assembly?
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308 Posts
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3 Posts
Since the EV6 was assembled in South Korea, it is no longer eligible for the federal rebate in 2023. Therefore buyers will be paying $7500 more for the vehicle. (That's the new price, I don't know the situation with used.)
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2 Posts
supply and demand
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53 Posts
dealers are offering as low as $32k for less than 1 year old EV6s (vroom,carvana etc..) and want to sell them for $49k+. I think It’s just the dealers trying to take advantage of an awkward stage of the economy. I assure you there is not enough EV6s out there to meet demand.
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I agree! I got lucky to get mine in March when two new ones first came in and didn’t have to wait. I have been happy with my car and and got a very low interest rate. So I will get my tax credit and I have a vehicle that I enjoy!
I'm in the same boat, I bought at MSRP, interest rate is 2% and I will get the full $7,500 tax credit. I will also receive 30% back for my EVSE install. I enjoy the car, and I would buy it again. I was also lucky to get my car within a month because the dealer had one in transit when I called.
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123 Posts
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69 Posts
Used car prices are crashing, but it might not be all bad for EV6s. I hadn't really thought about it, but there still is a short supply of 2020 - 2022 cars because fewer cars were built those years. What was propping up sales of used cars was people couldn't buy new ones. Now it's a realistic market of a bunch of new and used cars sitting on a lot instead of having to pay $5000 market adjustments on everything because they were being bought before they arrived, so everything 5 years old is returning to their normal prices HOWEVER if you think you can just get a car a couple years old for a big discount it isn't as much an option because there simply aren't that many available still. But I'd be happy to sell you a 2016 Tesla 3 with 70,000 miles.
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123 Posts
When gas creeps up to over 4 a gallon for 87 octane this summer (Costco at 2.99 for 87 today), the demand for used EV6's should be better. When the Kia dealer offered my 53K he said the EV's are not selling as well and I said you don't even have any to sell. They are sold before they hit the lot...
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63 Posts
Vroom offered me $25k for my EV6 Light with 2500 miles on it...... AutoNation offered me $38k on it and carvana was $34.5k. Tesla claims $36.5-40.5k. Drivetime was $33k but claims they could do better after a "virtual inspection". KBB instant trade in was $33k, another scam given KBB's own trade in estimated said $39k absolute minimum.
Vroom is most certainly trying to take advantage of folks, even Carvana too, they would list it for $45k+ based on other EV6 Light ive seen there. One such EV6 light has almost exactly the same miles as mine and the same premium paint option (Snow white pearl metallic) and Carvana wants $46,500 for it. They are most certainly taking advantage of all the folks trying to dump non tesla EV's. In a kind of way I get it, Tesla has these huge price cuts and are suddenly eligible for the $7500 tax credit so the algorithms at these online dealerships see a deluge of trades and adjust accordingly. But for Carvana or Vroom to send offers as low as they are, its a bad faith practice given what they are selling for currently.
Tesla and Autonation are about the only ones who have given me any sort of "fair" trade in value. Ive thought a lot about trading for a Model 3 long range, but id be losing 800 volt battery architecture (means much slower charging on certain chargers capable of 400/800 volts) , front radar, blind spot and parking sensors along with V2L functionality and Apple carplay. In many ways it would feel like regressing backwards.
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20 Posts
Then again, there's literally a dozen new EV6s for 74 - 100 off MSRP with Corporate Perks by me in the Bay Area, CA. The Tesla sale and fed rebate appears to have ended "Market Adjustment" pricing on the EV6. It shouldn't be surprising that the used ones aren't getting MSRP any more or that the dealers don't want to pay anything close to that in fear of being left holding the bag if used EV6s drop sharply in prices and/or Kia cuts the new price back to 2022 pricing in the coming months. The EV6 is really, really cool but there's too many other cars in the same neighborhood that are getting $7500 off. "It's less than a year old, why are you selling it?" "To get a GT!" "Wow, good idea! Maybe I will too or maybe one of those Tesla machines for 20% off"
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423 Posts
In all my years it has been my understanding that automobile manufacturers, new and used auto dealers, finance companies, banks, mechanics, auctioneers, after market parts manufacturers, the states and local government and maybe others all profit from personal transportation. The auto owner practically never makes a profit on their purchase except in rare instances of a vehicle becoming a collectible or due to the luck of the market. For the auto owner (individual or business), the value of the vehicle can be as just a transportation tool and or as a status symbol or emotional enjoyment. I view vehicles as a tool. I want a comfortable, reliable ride that gives me the space I need and reliability I can depend on. I try to calculate the cost of ownership per mile of my use and then all other things being equal, I buy the lower cost vehicle.
As for buying a new car, I never would pay above sticker price. Period. I would fix my old car first. And, I like to try and gain knowledge of the dealer invoice, and the dealer manufacturer incentives and holdbacks. Then if I have that information, I don't mind the dealer making a little money on me to stay open. Of course, Tesla doesn't work that way.
And for a used car value, the only thing that matters is what the car sold for at the auto auction. The black book valuation is the up to date record of auction sales and provides the real market value of the vehicle. Based on that value, the dealership prices an offer for your used vehicle. They will never directly pay more than they can purchase the same vehicle for at the auction. Why would they? The banks also use the auction to determine how much to loan to finance the vehicle. Auctions get their vehicles from dealers who took in the car in trade but don't want to keep it in their inventory as well as rental car companies and manufacturer lease terminations which offer large write downs for tax purposes.
The best way to purchase a used car would be to locate a person who is willing to purchase the vehicle you want at an auction for a very small markup and you arrange delivery or pick it up.
All of this operates on supply and demand and the auctions are filled with new and used dealers looking to stock their lots and sell service plans, financing, etc.
Unless you are in the actual business somehow, one should never expect to make a profit on a vehicle or lament the market price they paid at the time they paid it. That's the system. Enjoy the vehicle while it serves your purposes and when it no longer makes sense to operate it, find another one. The value the owner receives is in the mobility of personal transportation at the time they need and want it.
As for buying a new car, I never would pay above sticker price. Period. I would fix my old car first. And, I like to try and gain knowledge of the dealer invoice, and the dealer manufacturer incentives and holdbacks. Then if I have that information, I don't mind the dealer making a little money on me to stay open. Of course, Tesla doesn't work that way.
And for a used car value, the only thing that matters is what the car sold for at the auto auction. The black book valuation is the up to date record of auction sales and provides the real market value of the vehicle. Based on that value, the dealership prices an offer for your used vehicle. They will never directly pay more than they can purchase the same vehicle for at the auction. Why would they? The banks also use the auction to determine how much to loan to finance the vehicle. Auctions get their vehicles from dealers who took in the car in trade but don't want to keep it in their inventory as well as rental car companies and manufacturer lease terminations which offer large write downs for tax purposes.
The best way to purchase a used car would be to locate a person who is willing to purchase the vehicle you want at an auction for a very small markup and you arrange delivery or pick it up.
All of this operates on supply and demand and the auctions are filled with new and used dealers looking to stock their lots and sell service plans, financing, etc.
Unless you are in the actual business somehow, one should never expect to make a profit on a vehicle or lament the market price they paid at the time they paid it. That's the system. Enjoy the vehicle while it serves your purposes and when it no longer makes sense to operate it, find another one. The value the owner receives is in the mobility of personal transportation at the time they need and want it.
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69 Posts
But are they? The Light was MSRP $42,695. Some people got $7500 and $2000 State rebates on it. I'd argue any car used for a year dropping in trade value a little over 8 grand sounds about right in a normal market. I'd bet by the end of the year they all look a lot more like Vroom than Autonation.
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