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EV prices are falling while the average new car tops $50K (electrek.co)
submitted 1 day ago by to c/electricvehicles@slrpnk.net
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[–] 4 points 23 hours ago (2 children)

What a weird and useless metric to think of when buying a new car. They will pay you just less then the cost of a replacement, so why does buying a car with a higher book value mean anything? Like are you just picturing yourself in an crash when looking at cars?

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  • [–] -1 points 8 hours ago* (last edited 8 hours ago) (1 child)

    This is like asking whether you would like more money and saying no. It's also troubling some people have already forgotten the lessons of the 2008 financial crisis.

    Cars crash; 6 million crash annually in the United States. They get sold. If you finance a vehicle, it may not be on your schedule. Loans are based on income, not residuals. Lose the income and the residuals are all that prevent negative equity. Crash the car and you may end up with a loan but no car.

    If you are so high income or wealthy it doesn't matter, congratulations. Otherwise, naivete is not a great financial strategy with tens of thousands of dollars.

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  • [–] 1 point 1 hour ago*

    This is like asking whether you would like more money and saying no.

    Its like spending more money on a depreciating asset with the assumption of crashing it and needing the value to be high. Its the weirdest financial choice since the 2008 financial crisis. Hell like the 2008 crisis this is borrowing in such a stupid way that you are expecting failure.

    People can not afford new cars, at all. Financing a car is always a losing proposition. And buying a car based off its potential payout in the future is very very odd. Even at 6 million crashed a year in the us, there are 297.5 million registered vehicles there as well. That is a 1/50 chance to have your car in a crash if you are average, and since I know of people who are crashing every year or two the mean driver should be above that. Are you crashing a car more? We are talking about a expected 20ish year lifespan of a car with those numbers, why are you acting like people are naive for not buying into this odd view?

    If you are not a car salesman, maybe you should talk to less of them in your life? Since this sounds a lot like the sort of crazy koolade passed out at a consumer cult.

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