Sethodine
Elio Addict
I think anybody who buys a "new" car is a fool, regardless of the sticker price.
Okay, maybe that is a bit harsh. But certainly the people who buy new cars either can't do math, or have enough money not to worry about the math. I think the Elio is probably the one exception to that rule; not because it is cheap, but because I believe they will not depreciate as dramatically as other new cars. Even the truely affordable Nissan Versa (base model) at just over $12,000, is much more affordable if you get one just a few years old (around $7-8000 for a 2013 model with over 35k miles, or about the price of a new Elio).
I'll take that bet I admit I'm basing my assessment on my own purchase experience. When the 2012 Nissan Leaf came out, it was about $35,000 before tax incentives. When we bought ours in May of 2015, it was only $14,000. And this exemplifies a strange phenomenon with EVs: sold new, you pay for the premium price of the batteries, but sold used the market treats them like any other equivilant car. Thus they depreciate at a much greater rate than ICE cars.
Okay, maybe that is a bit harsh. But certainly the people who buy new cars either can't do math, or have enough money not to worry about the math. I think the Elio is probably the one exception to that rule; not because it is cheap, but because I believe they will not depreciate as dramatically as other new cars. Even the truely affordable Nissan Versa (base model) at just over $12,000, is much more affordable if you get one just a few years old (around $7-8000 for a 2013 model with over 35k miles, or about the price of a new Elio).
I respect your opinion Seth, I get what you're saying , but I'll make a bet with you for an adult beverage: in 2020, if there is a glut of long-range 3+ yr-old EVs hitting the market, they won't be affordable. Not to the point where people are buying them because the price is low. I just don't see the basic supply/demand principle taking affect in that situation.
I'll take that bet I admit I'm basing my assessment on my own purchase experience. When the 2012 Nissan Leaf came out, it was about $35,000 before tax incentives. When we bought ours in May of 2015, it was only $14,000. And this exemplifies a strange phenomenon with EVs: sold new, you pay for the premium price of the batteries, but sold used the market treats them like any other equivilant car. Thus they depreciate at a much greater rate than ICE cars.