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 😓
because unlike a gas car it has a battery that degrades over time. It also can’t compete with the newer ones in terms of range so the value will always depreciate quicker until innovation slows down