what is the depreciation on clarity

  • Thread starter Thread starter JKroll
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Hedgefundie said:
Vroom just quoted me $18.5 for my 2020 base with 6k miles that I paid $23.5k for after all incentives only 6 months back.

Very disappointing
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Vroom is selling a 2019 Base with 2,563 miles for $23,730, so it looks like you got a good deal 6 months back. I believe resellers take the incentives into account when quoting prices even if the people selling their cars weren't able to take advantage of the incentives. So someone who paid $34,355 for a base 2020 Clarity Plug-In Hybrid with 6K miles would also be offered $18.5K.
 
Hedgefundie said:
Vroom just quoted me $18.5 for my 2020 base with 6k miles that I paid $23.5k for after all incentives only 6 months back
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Which state? If you are in California, $23.5K with all incentives is kinda high, it should be around 20K.
With all incentives, I paid 19.7
So, if Vroom offers me 18.5, am happy :)
 
insightman said:
Vroom is selling a 2019 Base with 2,563 miles for $23,730, so it looks like you got a good deal 6 months back. I believe resellers take the incentives into account when quoting prices even if the people selling their cars weren't able to take advantage of the incentives. So someone who paid $34,355 for a base 2020 Clarity Plug-In Hybrid with 6K miles would also be offered $18.5K.
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This makes perfect sense. The price of a used car is largely determined by the price of the same car when purchased new.

The Vroom price actually seems high for a 2019 base, even with low miles. The Fed credit and a small dealer discount and/or state incentives would bring the price of a new car down to that price, or lower. It’s actually more than our net cost for a new 2019 Touring.
 
Vroom probably undersells what you could actually get on the open market or even for a trade-in. After all, it is a quick reselling service, correct? So I'm sure they bake a healthy margin in there and try to flip cars ASAP. I'd assume at least a couple thousand more even if you traded it in.
 
Jimmy Vo said:
Which state? If you are in California, $23.5K with all incentives is kinda high, it should be around 20K.
With all incentives, I paid 19.7
So, if Vroom offers me 18.5, am happy :)
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31.9 OTD
-7.5 Fed
-0.8 PG&E

I make too much to qualify for CVRP


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Landshark said:
What were you expecting to get for the used car if a new one can be had for $22.5-23.5K?
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The whole point of buying a Clarity is to buy new, drive for one year, then sell for the same price you bought it for. Rinse and repeat.

Didn’t work for me


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Hedgefundie said:
The whole point of buying a Clarity is to buy new, drive for one year, then sell for the same price you bought it for. Rinse and repeat.

Didn’t work for me


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I didn’t realize that was the whole point.

So, we’re you expecting to get $23.5K?
 
Electra said:
The problem was you bought it when it wasn't that low. Plus the Clarity took a beating in resale compared other used cars. Just blame it on bad timing.
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You hit the nail on the head. I have learned my lesson.

I am now waiting for the 2021s to drop to rock bottom pricing and hoping the 2020 depreciation slows down a bit.


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Hedgefundie said:
I am now waiting for the 2021s to drop to rock bottom pricing and hoping the 2020 depreciation slows down a bit.
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You’d need to sell when certain market conditions exist, for example, little or no dealer discounts being offered, and buy when different market conditions exist, large dealer discounts being offered, for example. It’s similar to market timing, which doesn’t always go as planned.

The lesson being, when new cars are heavily discounted, a used version of the same car will be worth less than the new one.
 
Hedgefundie said:
The whole point of buying a Clarity is to buy new, drive for one year, then sell for the same price you bought it for. Rinse and repeat.

Didn’t work for me


Sent from my iPhone using Inside EVs
Click to expand...

Great news! Used car prices are soaring again.

Just got a quote from AutoNation for $22.5k, still $1k less than what I paid OTD six months ago . Will continue waiting to see if it rises more.
 
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