It will be interesting to see what electric cars do to the used car market. On a gasoline powered car, the most expensive items you can expect to replace would probably be engine and transmission. All cars are different but for most cars, you can get a new or rebuilt option for both for $1500-2000. I've only heard one first-hand story of one person having to replace the electric batteries in a car and this person said it cost them $8000. I've read that in various cars, it can cost anywhere from $5K-29K.

Most Americans don't keep $5K in reserves just in case their car breaks down. If someone has an electric car, the batteries give out, and they don't have the money to repair it, then they have to try to sell a car that doesn't work. Ever try to sell a car that needs a new engine? Resell value goes down far below what is needed just to do the repair. Unless something changes drastically, then it looks like many of these electric cars are basically meant to be disposable cars or that there will be some screaming deals on used ones when people don't have the money to replace batteries.

For example, it costs around $8,500 to replace the 24Kwh battery in a Nissan LEAF. If the vehicle is 7 years old or older then it costs you more to replace the batteries than the car is worth. That's a problem.

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"The government who robs Peter to pay Paul can always depend on the support of Paul," - George Bernard Shaw

“Don’t underestimate Joe’s ability to f—k things up.” - Barack Obama

“End of quote. Repeat the line.” - wise words from Joe Biden

Edited: 11/11/2019 at 11:22 AM by Sniper