Cars

Having your driver’s license in the 1970’s was the coolest time. All the muscle cars were available. Chevy SS, GTO, Camaro, Vets, Mustang and Firebird. All the GMC cars during this time had similar bodies. I guess my favorite was the Camaro. I remember when friends came back from Viet Nam, the Camaro was the car of choice. My first car was a 1964 Olds 44, a monster car, it cost me used $400 in 1971 and the Insurance $440 a year. Still I always dreamed of the Camaro.

As kids we worked on cars ourselves never going to a mechanic. We went to the auto store on 14th Stret and Avenue C in New York. One time my friend had a broken ball joint and his car sat in front of my building for weeks until we figured out how to fix it. I still dreamed of my Camaro.

Years passed and I never owned a Camaro, until one day at an airport I decided to rent a Camaro. I thought I was in heaven, finally I can drive the car of my dreams. There was one problem. The years that past added weight to my belly and I could not bend over easy enough to get in! I returned the Camaro with tears in my eyes and rented a mini van which was more suitable.

Is there such a thing as an odometer stopper? Does an odometer stopper roll back the odometer of your car? Is an odometer stopper illegal? How does an odometer stopper work? Is it a crime to install an odometer stopper on your vehicle?

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Lamborghini Huracan With A Mileage BLOCKER 🤦‍♂️ | Lamborghini Huracan With A Mileage BLOCKER 🤦‍♂️ | By Super SpeedersFacebook

Lamborghini Huracan With A Mileage BLOCKER 🤦‍♂️

Here’s a great 👍 informative video clip from VINWiki about car Depreciation the minute you drive it off the auto dealership. Electric cars, like all vehicles, experience depreciation, but there are specific factors that influence the rate at which they lose value. Here’s an overview of how electric cars depreciate and the factors affecting their depreciation rates:

Factors Influencing Depreciation of Electric Cars

1. Battery Life and Technology:

   • Battery Degradation: The lifespan and efficiency of the battery are critical. Over time, batteries lose their ability to hold a full charge, which can decrease the car’s range and performance.
   • Technological Advances: Rapid advancements in battery technology and electric vehicle (EV) features can make older models obsolete faster than traditional vehicles.

2. Government Incentives:

   • Tax Credits and Rebates: Federal and state incentives for new electric car purchases can reduce the initial cost, but these incentives don’t apply to used cars, which can affect resale values.
   • Policy Changes: Changes in government policies regarding incentives can also impact the depreciation rates.

3. Brand and Model Perception:

   • Brand Reputation: Brands with a strong reputation for quality and reliability tend to depreciate more slowly.
   • Model Popularity: Highly popular models with good reviews and strong market demand retain their value better.

4. Market Demand:

   • Consumer Preferences: As consumer interest in EVs grows, demand for used electric cars can help stabilize depreciation rates.
   • Resale Market: A well-established resale market can positively impact depreciation rates.

5. Mileage and Usage:

   • Lower Running Costs: EVs typically have lower running costs, which can make them more appealing on the used market.
   • Usage Patterns: How the car has been used (e.g., city vs. highway driving) and overall mileage will affect its resale value.

Depreciation Rates Comparison

Electric vs. Gasoline Cars:

• Higher Initial Depreciation: Electric cars generally depreciate faster initially compared to gasoline cars. This is partly due to the high cost of the battery and rapid technological advancements.
• Long-term Trends: Over time, as the market for electric vehicles matures and battery technology stabilizes, depreciation rates for EVs may become more comparable to those of traditional vehicles.

Examples and Data

Tesla:

• Model S and Model 3: Tesla vehicles, particularly the Model S and Model 3, have shown better-than-average resale values compared to other electric cars. This is attributed to Tesla’s strong brand reputation, continuous software updates, and high consumer demand .

Nissan Leaf:

• Rapid Depreciation: The Nissan Leaf, one of the earlier mainstream electric cars, has experienced rapid depreciation. Factors include its older battery technology and the availability of newer, more advanced EV models .

Conclusion

Electric cars depreciate due to factors such as battery life, technological advancements, government incentives, brand reputation, and market demand. While they may depreciate faster initially compared to gasoline cars, certain models, like those from Tesla, tend to retain their value better. As the market for electric vehicles continues to evolve, these depreciation trends may change.

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• This discussion was modified 8 months ago by  Gustan Cho.

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Market Insights on the Values of High-End EVs! | Market Insights on the Values of High-End EVs! | By VINwikiFacebook

Market Insights on the Values of High-End EVs!