25% of EV owners in America are underwater $10,000 USD on their loan

25% of EV owners in America are underwater $10,000 USD on their loan

I'll be at the Melbourne Electric SUV EXPO from 9-11 Aug 2024. Here's a link offering $10 off tickets (they're super cheap):
You can catch up with me at the show on August 10 and that night after the show. Looking forward to seeing you there!

👇👇 Buy something and support The Electric Viking Store 👇👇

Size guide and other help for the store 👇

Join as a member in The Electric Viking YouTube►

Members-only videos (see videos before anyone else)►

👇 Please donate here for Shanna (Viking's wife) if you can 👇

See what happened to Shanna:

The Electric Viking on other platforms:

👇 See more about me 👇
👇 My Bali trip 👇
👇 Video about My Skateboard 👇

👇 Subscribe to my kids channel 👇

See more videos:
Hydrogen car owners sue Toyota: "Hydrogen cars made our lives hell!"

GM sales in China have crashed in 2024 - experts predict extinction

GM posts record EV sales in America - offsetting big losses in China

Ford overtakes GM in America as Electric Car sales climb 72%

GM launches $6 billion share buyback plan after $10 billion wasn't enough...

Why GM is intentionally selling a LOT less EVs even than it could...

GM's NEW Axial Flux motor improves efficiency in small EVs

People are getting scammed - How to spot Tesla scammers on social media

Elon Musk says Tesla won't launch NEW Model Y 'Juniper' this year, but...

GM wants to make the new Chevy Camaro an EV starting at $35,000

GM and LG reach $150 million settlement for Chevrolet Bolt EV battery fires

2024 GMC Sierra EV Denali Edition 1 with 440 Mile range discounted $9K

GMC Sierra EV Denali revealed with tyres nearly touching the guards...

Tesla’s California virtual power plant transforms the grid and makes millions

Tesla Launches Model Y 50 mile Range Boost Upgrade for existing owners

Tesla makes the same profit selling ONLY 1 Megapack battery as 100 EVs

Tesla launches new Model 3 Long Range Rear-Wheel Drive for bargain price

Tesla stock continues stratospheric rise after Elon revealed Optimus 2.0 robot

EU officials respond after Tesla gets higher tax in Europe than BYD

Tesla Cybertruck range and reliability boosted with new motors

The REAL reason Tesla stock skyrocketed 47% in the last 25 days

Renault says new Teslalike structural batteries & LFP cells cut costs 40%

#america #loan #evnews #electricvehicle #evsales

👇Reference to the news/charts & videos used in this video:

This channel may use some copyrighted materials without specific authorization of the owner; but content used here falls under the “Fair Use” Copyright Disclaimer under Section 107 of the Copyright Act 1976.

Allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use.

Contact us for any copyright issues. If you want a credit of any footage we are using, please let us know.

[murat]

Every new car owner is 10K underwater the day they buy their cars.

[billbayer]

Only underwater if you want to sell/trade your car. Solution: keep your car!

[metrotrujillo]

Buy the car for 10 years then dont worry about it.
the people who replace cars ever 2 years are wealthy, they do not care what happens with resale value

[wydryfly]

If you pay cash, you’re never underwater. The problem is the majority of consumers can’t afford a car. They can only afford a payment.

[superbear]

In the USA, I have seen very high depreciation on my used EV (2020 Kia Niro). Sticker price was $47K (I doubt anyone actually paid that, but...). I bought it used in November, 2023, for $28K, which was a competitive price at the time. So, that was about 60% depreciation in 3 years. Now, just 8 months later, I see the same car, same miles, for sale for $22K. That's a further 25% depreciation (roughly) in less than a year. I believe this may be because EV buyers tend to want the latest technology, and older cars are in much less demand. I really like my EV, and I have no plans to sell or trade. I just wish I had waited 6 more months!! :))

[Ray-iztv]

Depreciation is one of the largest expense for a car.

[Harrythehun]

Any new car is a luxury product. Many people round the world can't even afford even a used car.

[doubleclutchonline]

Because two years ago the demand for EVs was insane and they were absurdly priced.

[HectorGarcia-nbld]

I got a Tesla but any car is the worst investment in the world. But I still love my Tesla . You can’t take any money with you when you die

[mikemorgan]

I am an old guy, my whole life it has been true that when you drive off the dealer's lot the value of your new vehicle drops like a dead pigeon. I like new cars or other vehicles. A history of bad luck with used vehicles. Our current vehicles, 1991 Chevy long bed extended cab C2500 70k bought new, 2008 Buick Lucerne, bought new 120k, 2019 Buick Cascada bought new 18k. My Cascada cost over 32k, now worth maybe 16k, I don't care, I tend to keep vehicles for a long time.

[jdqc]

With new technology, the price goes down faster than years of ICE cars. It was the same for all technologies devices like TV and others. A new HD TV 40 inches back in 1992 was $7000. Today a new 8K HD TV 52 inches is $700....

[paulmarc-aurele]

I bought a new to me 2020 Bolt LT WITH 26K a new battery, and tires. It was a buyback so it also has a 12/12 full warranty. Because of state and federal incentives my OTD price was 6.5K. Used EV’s are a bargain.

[ferfromla]

Anyone buying a new car should know that it will always become a depreciating asset. Truthfully, the most rational thing to do is to buy a used car in excellent condition. A new car is an indulgence that is done for the enjoyment of driving the latest and greatest.

[offgridwanabe]

Pay cash it can be done requires some planning. If you can pay $1000 a month for a new truck and never pay it off before it is wore out you can afford to pay cash.

[Michael-yimc]

It’s called keeping up with the Jones.

[Ranbo]

Paid 54K for my m3 back in 2020. Be lucky to get half that today. Fortunately, I plan to keep the car until one of us dies!

[finned]

High interest rates. It’s even worst with overpriced gas trucks like the Ford F150 that costs over $80K.

[whowantstoknow]

The same thing happened with smartphones when they first came out. I remember people who bought the model 1 & 2 iPhones going through similar experiences. It's what always happens with the first releases of an innovative technology.

[jimgraham]

Around where I live the EV market is about five years old. There are lots of EVs on the road, but depreciation is very small because it seems owners are not yet prepared to sell. You do see the odd second hand EV but they arent yet bargains.

[jeffmichaels]

I paid CASH for my 2023 Tesla Model Y Longe AWD on June 23, 2023 here in Los Angeles and the cost was $57, 219.00 - I don't care if the value drops 95% tomorrow because it was never going to be an investment like buying GOLD which I have done over the past 3 years and have only gained from my investments. I fully enjoy my Tesla especially when I'm driving on the freeway at 115+ mph when it's safe and what a rush better then sex!