You know that a new car will begin to decline in value or depreciate as soon as it leaves a dealership. It's just a fact of life. What about EV Volkswagen vehicles though? Do these all-electric models depreciate at the same rate, or do they retain their value better?
We’ve looked over the data here at Patrick Volkswagen and we're ready to give you an honest assessment of electric vehicles and how they hold their value. Here's what green car drivers should know.
How Fast Do EVs Depreciate?
Unfortunately, it looks like many electric vehicles don't just depreciate like gasoline-powered cars do. They can actually depreciate faster than their more conventional competitors. There are a few big reasons for this, including:
- Range: EVs have evolved rapidly, which means that one from a few years ago could have a dramatically lower range than a brand-new EV. That's not acceptable to some drivers.
- Incentives: There are tax incentives and other rebates for new electric vehicles. There are fewer outside incentives for pre-owned EVs. This encourages a lot of people to buy new.
- Early Adopters: The type of driver who gravitates towards an EV is usually an early adopter type. They want something new and are less interested in a pre-owned model as a result.
The used EV market is still new, so things can change. There are also still many other benefits to buying an EV. So, if the rate of depreciation bothers you, think about your carbon footprint and no longer needing to be at the mercy of volatile gasoline prices.
Find a Green VW Car Today!
If you're interested in a new green car of your own, visit our VW dealership serving Westborough, MA. Whether you have questions about electric cars or our latest Volkswagen financing options, we're ready to assist you!