AAA Warns Buyers That Owning An EV Can Be A VERY Expensive Proposition

AAA made a really positive press release on its latest survey about EV ownership. Anyway – and regardless of what the association decided to focus on, we had to cover the most critical info that it brought.

As you already know, the survey revealed it is more expensive to own an electric vehicle than a regular car – even with tax credits. We asked them for the full data, and depreciation came up as the bad guy for this to happen – by a large margin.
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USNA1999 - 1/24/2020 2:05:09 PM

+3 Boost

I thought TESLAS don't depreciate, only appreciate.

atc98092 - 1/24/2020 6:17:17 PM

+1 Boost

Check out used Tesla prices. They really don't have much depreciation. Far better than other EVs. I was thinking I could snag a not too old Model S, but they're still almost $50,000 minimum. A quick check on cars.com shows only 4 within 100 miles of me with under 40,000 miles, and the lowest priced one is $49,000. Same on Tesla's web store. Only four listed there, including one with 54,000 miles for $43,500 but only RWD.

SanJoseDriver - 1/24/2020 10:13:01 PM

+2 Boost

I doubt they surveyed many if any Tesla owners, probably on purpose. You can hardly find a used Model 3 anywhere right now and used Model S/X still retain value quite well.

Foncool - 1/26/2020 6:26:47 AM

0 Boost

Really 148 for sale via Manheim right now.

SanJoseDriver - 1/27/2020 3:40:09 AM

+1 Boost

Which site? I know a few people looking for a cheaper Tesla, that might be a good option. I saw two on the Tesla website yesterday but they were $49k, same price as a new 3 AWD but with all options. 20% depreciation in 2 years, not bad at all.

jeffgall - 1/24/2020 5:12:25 PM

0 Boost

I thought independent agencies are not allowed to survey Tesla owners?

TomM - 1/24/2020 5:35:05 PM

+2 Boost

While Tesla itself does not provide the information about its customers - there could not be a law preventing a polling company form talking to their owners

MDarringer - 1/24/2020 6:13:46 PM

+2 Boost

EVs will depreciate far faster than ICE because EVs now are like PCs back in the day when each new generation was a leap rendering the previous generation worthless.

SanJoseDriver - 1/24/2020 10:13:59 PM

+1 Boost

Any non-collectible ICE is going to plummet in value over the next 5-10 years when EVs become commonplace.

Section_31_JTK - 1/24/2020 8:44:29 PM

+1 Boost

Even Teslas depreciate. And because they're like PC's, they rapidly get outdated. If you paid $120k for a Model X, and can now get a better more updated vehicle brand new for less than $90k, you're not too happy.

SanJoseDriver - 1/24/2020 10:14:58 PM

+2 Boost

S/X owners did take a beating with price drops, but software updates keeps cars going back to 2012 relevant.

SanJoseDriver - 1/24/2020 10:16:22 PM

+4 Boost

How does AAA make money again? Oh yeah, they help when your car breaks down.

Why would they want to promote something that would reduce their business? I've had AAA for the past 15 years and used it 0 times on an EV.

MDarringer - 1/25/2020 10:11:16 AM

0 Boost

Teslas are notoriously unreliable. Get AAA.

Foncool - 1/26/2020 6:25:25 AM

0 Boost

Really 148 for sale via Manheim right now.

valhallakey - 1/25/2020 12:58:56 AM

+2 Boost

Interesting, they say that depreciation is bad as shown in the scoring... Unless you include Tesla. They don't give the figure either for Tesla alone or Tesla included in calculation of the depreciation number

SanJoseDriver - 1/27/2020 3:41:47 AM

+1 Boost

Well that answers that...

"When we check the methodology AAA followed, we see the association did not include a single Tesla"