Holy Depression 

"HFV has no HFV. But somehow has 2 motorcycles" (hondasfordsvolvo) 12/01/2016 at 02:33 • Filed to: None

0

24

This 2012 Chevy Volt, with 44,000 miles is only 13,335. I don’t get why though. The only two Volt owners I’ve talked to are loving their cars. The other day one pulled into my gas station and filled up with 6 gallons of Premium. He said the car had to use the gas engine long enough to use half the fuel in the tank, so that he could top it off. It had a warning light that sai fit fuel in the tank was too old. But really though. This plug-in hybrid is only what 30-35% of its original price? I don’t get it out 5 year old Honda Fit was almost 60% of its original price when we bought it with 37,00 miles. So why has this car taken Such a hit?

!!! UNKNOWN CONTENT TYPE !!!

bob and john > HFV has no HFV. But somehow has 2 motorcycles 12/01/2016 at 02:50

1

depreciation, not depression.

Dr. Zoidberg - RIP Oppo > bob and john 12/01/2016 at 03:02

3

Maybe, maybe not.

DC3 LS, will be perpetually replacing cars until the end of time > HFV has no HFV. But somehow has 2 motorcycles 12/01/2016 at 03:03

0

good night oppo. To marrows gonna be a good Day!

slipperysallylikespenguins > HFV has no HFV. But somehow has 2 motorcycles 12/01/2016 at 03:10

2

Four reasons:

1. It was overpriced and unpopular to begin with.

2. Other electric cars seem to be more techy/sophisticated/ stylish/ desirable.

3. People are concerned about the cost of replacing the battery pack. I believe Leafs have this same issue with their resale.

4. More people see electric cars as disposable appliances that quickly get outdated compared to a traditional vehicle. Why buy someone’s used appliance when you can get a big tax rebate on a new one.

bob and john > Dr. Zoidberg - RIP Oppo 12/01/2016 at 03:21

0

this is a good point

Twingo Tamer - About to descend into project car hell. > HFV has no HFV. But somehow has 2 motorcycles 12/01/2016 at 05:15

0

Probably concerns about battery longevity.

VonBootWilly - Likes Toyota, but it's still complicated. > HFV has no HFV. But somehow has 2 motorcycles 12/01/2016 at 05:32

0

I did read that there were nagging GM* like issues with the first years, but not sure how they affected the car itself.

I notice second generation civic hybrid taking a mass hit too. 60+mpg low km hondas for like $5k. Also suffering from old battery replacements kicking in and being a $1400-3000 affair depending on diy vs. shop.

I honestly still think a manual non hybrid ends up getting more distance over the life, which saves the batteries and entire car replacement (and isn’t super slow). When I considered a civic hybrid as dd, I realized how a 100hp small car doesn’t agree with me at all.

random001 > HFV has no HFV. But somehow has 2 motorcycles 12/01/2016 at 06:19

0

Actually, this generation noticed a particularly large drop in used prices once the newer, more capable 2016 hit the streets.

deekster_caddy > VonBootWilly - Likes Toyota, but it's still complicated. 12/01/2016 at 07:15

1

The Volt is not super slow. It’s surprisingly quick off the line and top end acceleration is more than adequate.

VonBootWilly - Likes Toyota, but it's still complicated. > deekster_caddy 12/01/2016 at 07:28

1

I get that, I meant the Civic hybrid, since it has about 83hp without electric. I like the Volt, I want a mpg dd to save money for other cars. My GS430 gets about 25mpg on my commute, and has about 320hp, so far I’m ok with that.

deekster_caddy > HFV has no HFV. But somehow has 2 motorcycles 12/01/2016 at 07:28

3

The math gets fuzzy. It’s hard to compare the prices because purchase price and EV rebates are very different. My 2013 had an MSRP of 41,9 but I bought it for 35,9 plus I got a $7500 tax credit so real world out of pocket was 28,400 (plus tax reg etc). So out the door there’s a $7500 drop in price, plus the initial depreciation hit. Many states then offered their own rebate or tax credit up to an additional $5K. Everybody knows this, so nobody is going to be able to flip the Volt for a wild profit because of the tax rebates and credits... so right away the car’s purchase price goes down to $23.5k for a used one with 200 miles on it just because of tax credit. Now $13,300 is a lot closer to 60% of $23,500 (sorry for not getting out my calculator)

It’s a first gen of EV- so the drive battery life is not proven. This doubt hurts resale value. There is a 8 year 100,000 mile warranty on the electric drive components.

The center stack was a turnoff to a lot of people and makes them harder to sell IMO.

They were bargains at $28,000 and they are bargains at $13,000.

OpposResidentLexusGuy - USE20, XF20, XU30 and Press Cars > VonBootWilly - Likes Toyota, but it's still complicated. 12/01/2016 at 07:30

0

The Honda battery’s are notoriously bad. We’ve seen people go 25k miles from new on an entire battery. Meanwhile Prius are 10x that.

deekster_caddy > slipperysallylikespenguins 12/01/2016 at 08:36

0

They weren’t overpriced when you fogure out the actual costs though. Mine had an MSRP of 41,900 but I negotiated down to 35,900. Then there is the federal $7500 EV tax credits, and many states offer additional rebates, some as much as $5000. So the initial purchase price could be as low as $23,400. The car itself has a very nice interior, compare it to more like an Acura TLX and it’s price point.

HFV has no HFV. But somehow has 2 motorcycles > slipperysallylikespenguins 12/01/2016 at 09:01

2

I think a lot of those are misconceptions though, for example electric drivetrain components have an 8 year 100,000 mile warrenty. So if you’re lucky it’ll wear out in that time, and be good for another 80,000 miles. Either way with this used one you’d still be set for 4 years or 60,000 miles, which is longer than most people keep their cars anyway.

HFV has no HFV. But somehow has 2 motorcycles > bob and john 12/01/2016 at 09:02

0

Auto correct failed me.

HFV has no HFV. But somehow has 2 motorcycles > random001 12/01/2016 at 09:03

0

I’d still rather have the old one just because I think it looks better.

nermal > HFV has no HFV. But somehow has 2 motorcycles 12/01/2016 at 09:29

0

You think that’s bad? Check out prices on 2014 BMW i3s in your area.

Most of them had an MSRP of ~$50k, and are selling for ~$20k with very low miles.

random001 > HFV has no HFV. But somehow has 2 motorcycles 12/01/2016 at 09:30

0

BUY IT!!!

HFV has no HFV. But somehow has 2 motorcycles > random001 12/01/2016 at 10:49

0

I’m short about 13,000 bucks. We’re about to buy our first home so I won’t be making any car purchases for awhile.

random001 > HFV has no HFV. But somehow has 2 motorcycles 12/01/2016 at 11:22

2

I somehow got suckered into redoing our kitchen, so my whole project car budget evaporated. Again.

slipperysallylikespenguins > deekster_caddy 12/01/2016 at 21:52

1

I meant its overpriced going by the original MSRP, as a 42K dollar car it really wasn’t competitive. The depreciation isn’t that bad if you look at what people actually paid though.

slipperysallylikespenguins > HFV has no HFV. But somehow has 2 motorcycles 12/01/2016 at 21:56

1

I’m kind of curious to see how many warranty claims are going to be made by the time the first year of cars hits 8 years or 100k miles. Did GM actually believe it would make it or were they just willing to take a hit on claims? I wonder that because of the issues with Leafs and Civics.

deekster_caddy > slipperysallylikespenguins 12/01/2016 at 21:57

1

(Edited heavily, I misread the reply) If you look at the vehicle itself, it compares to other cars in the size and price range, the TSX is the example that comes to mind but think small BMWs or something. The interior is well made and loaded with tech (besides the awful UI that is the center stack), the drivetrain is far more expensive. It handles very much like a sports car with some aggresive tires, so those are valid comparisons.

HFV has no HFV. But somehow has 2 motorcycles > slipperysallylikespenguins 12/02/2016 at 09:05

0

That would be something to consider. 100,000 miles warranty doesn’t mean much if they tend to crap out at 105,