I was looking at used Evs and I keep seeing 1 or 2 yr old VW id4s with very little miles for like $25-30k. Is there a reason why they lose their value so quickly? I even saw a 2022 Pro S with 2k miles for $28k. Someone basically lost $20k driving it off the lot 😓
Pre 2020 depreciation was insane and I think we are getting back to that norm now that stimulus money is gone and inventory is back to normal. As a reference point, the last ICE car I bought (right before Covid) was 2.5 years old and less than 30k miles. Sticker was $44k when new and I got it used for $17k flat and they even replaced the tires on it as part of the deal.