While I have no regrets, I was shocked at how much the value dropped. My fully-loaded '22 Lariat with 20k miles is now worth $41k. I financed for a year, paid it off, and recently went window-shopping for a Silverado and Hummer pickup. The depreciation hit me hard.
That sounds about right. EV trade-in values are scary across the board. Drive it until it’s done. If you think your Lariat’s bad, check out Hummer EV trade-ins—yikes.
Vale said:
That sounds about right. EV trade-in values are scary across the board. Drive it until it’s done. If you think your Lariat’s bad, check out Hummer EV trade-ins—yikes.
Trucks usually hold value better than cars, even with EVs.
@Harper
EV value depends heavily on battery health and warranty. Once the warranty’s gone, the value tanks fast.
Seen the Benz EQS? It dropped from $120k to $40k in two years.
Buy vehicles for enjoyment, not as investments.
Weston said:
Buy vehicles for enjoyment, not as investments.
True, but minimizing depreciation is still a valid concern.
I wish I waited. Prices are half now. Love the truck, but the depreciation hurts. Planning to keep it for 10 years to avoid big losses.
Was $41k the trade-in offer? Sounds like the market is adjusting since Ford started discounting new trucks.
What’s the battery warranty like? Any info on replacement costs? I’m curious if these are good for long-term, high-mileage ownership.
Dez said:
What’s the battery warranty like? Any info on replacement costs? I’m curious if these are good for long-term, high-mileage ownership.
8 years or 100k miles. Batteries should last 250k+ miles, but extended warranties don’t cover them.
As an early adopter, I knew the risks. It’s a tool for my life, not an investment. The value it’s brought me is worth the depreciation.
Overproduction might be a factor. I got a new Lariat last month for $59k with incentives, so $41k for a three-year-old one makes sense.