kbb estimates I can get between $51-59k for my leased car for a private sale, $48-55k on trade in. Its payoff amount is currently $57k.
I'm 17/39 the way through the lease, presumably just past the steep initial portion of the depreciation curve. At this rate, I'll be pretty close to having some positive equity in the car for whenever the P*3 or EX90 comes in that I might trade it in (or sell on private market) for.
In either case, Polestar Financial isn't taking a bath on my lease, at least not yet.
These numbers seem pretty well in line with usual car value trends. It just isn't in line with the insanely outlying used car depreciation curves that we saw during the pandemic.
Edit: Meanwhile, over in Tesla-land, talk about some depreciation now....
Tesla has cut prices on its top-selling electric vehicles in the United States and Germany, the automaker's website showed, extending a new strategy of aggressive discounting after missing Wall Street estimates for fourth quarter deliveries.www.reuters.com
Given your background do you see this as something particular to Polestars or across other brands as well? I'm also wondering if the federal rebate changes have had an influence broadly across the EV used car market?I've spent a good portion of my career in vehicle valuation analysis/residual development. KBB, while having high consumer name recognition, is almost always far off in terms of its trade in values to what dealers might actually give you.
I highly doubt you can get a trade in value anywhere close to even $48K currently. Would be surprised if you can get significantly above $40K right now.