I read several articles about how cheap EVs were. Jalopnik was saying the Fiat 500e was going for low $4k at auction. It got me thinking now is the time to return to the EV market (embarrassingly, I owned a Zap!...less so, I also owned a Brammo MC). Well those days are gone! Auction prices on the 2014 500e are now averaging over $8k! The same holds true for price rebounds in all other EVs. It got me wondering why. I think I have the answer.
Every year, when the CAFE sales metrics reset, manufactures have to pump EVs into the market to meet fleet standards. When attractive lease options are available, that places downward pressure on the used market. Why buy and own the risk when you can lease and simply give it back. Once they've placed enough to meet the yearly goal, through lease or sales, the screamin' deal leases evaporate and used prices climb.
To add insult to injury, fuel prices typically rise in the winter. EV prices follow gas prices in lockstep.
That all leads me to conclude that right now is actually a terrible time to buy a used EV unless you fall into an extraordinary deal and that better deals should come back in late winter/spring when leases return and fuel prices begin to drop back down.