Never owned an EV. What causes depreciation in these vehicles? Will range degrade due to battery degradation? Seeing used Tesla Model S from around 2020 with mileage ~50k under $40k. Is this a good deal? How’s the reliability of this model?
Depreciation is mostly due to price cuts from inflated COVID time pricing and release of new tech and range in newer models. I have a 10yr old ev. Battery degradation is <15 percent.
Never buy used ev. You have no idea what the battery state/degredation is and you might get saddled with servicing
Especially the model 3/Y owned mostly by poorer folks with no homes to charge at and exclusively use supercharger, battery would be in a horrible state after few years.
Range degrades. Battery warranty over in 10 years 100k miles. After that replacing battery could cost more than car.
When cars become more like appliances they will also depreciate more like appliances.