Why are used 500e so cheap? - Page 3

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Thread: Why are used 500e so cheap?

  1. #21
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    Probably the same reason that all electric cars have terrible resale value except for the Tesla. They are practically obsolete once you drive them off the lot. Newer electric cars will keep offering better tech, batteries and driving range. Since I can't get a leased 500e in Canada, I would probably be happy to buy one for $5,000. But even at that price it would be a risk. No warranty service here in Canada (and presumably most states). And just getting one to you if the car isn't local would be either very costly or very time consuming.
    May 29th Ordered: 2012 500c Lounge 5 spd Manual, Verde Chiaro, brown leather interior, ivory trim, beige roof. Spare tire & Navigation.
    Status: Yippee. Mine all mine!

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  3. #22
    Senior Member smark's Avatar
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    One thing nice about the new Chevy Bolt EV. Is it's driving range. Price, performance, features etc.
    There are wall to wall Chevy dealers across the country for sales, and service.

    Fiat can't sell ICE 500's. More less EV's. The market, is flooded with use ones.

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  5. #23
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    Quote Originally Posted by Tedolph View Post
    Sergio will eventually put them all in the crusher. Just like GM did with the EV-1.
    That would make you so happy, but Sergio doesn't want them back.

    The EV-1 was lease-only and they all went back to GM at end of lease. Fiat actually sells the 500e, and the ones that were leased have been going into the used car market after return. Same as the Leaf, BTW.

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    Simple math folks - FCA/Chrysler/Dodge needs to get a cr*pload of clean cars on the roads in Ca in order to sell gas hungry Hellcats, big trucks, etc so they created a pretty decent car, leased it for dirt cheap and continue to do so to balance their high profit gas cars. Even with the loss the profits on those others make it worth it..

    Even with the now low-end of the range spectrum (Bolt, Tesla easy over 200 now) these are great little commuter cars for a lot of folks. A ton of off-lease cars helps those that might be looking for a near-free commuter car; don't knock it till you try it...

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    OP- I also am lucky enough to have access to Manheim auctions as well and since the jalopnik article I've been watching values. Since the articles about the wholesale prices it bumped values on the 500e. You're still getting a deal IMO. I couldn't justify not getting one. Owners give them great reviews. Fiat farms out EV items so build quality on the inverter, battery pack, and motor is solid. The 8/100k battery warranty sealed the deal for me. I pirchased a 2013 w/ 20k miles for under $5k yesterday. Just waiting on vehicle transport from SoCal to Michigan. I believe I'll have the first 500e in Michigan outside of the manufacturer plated cars. 4 of coworkers are using me as a Guinea pig and they will likely all be buying a 500e as well.

    Theres going to be a lot of mom and pop used car dealers selling them in the coming months.

    If you're still considering buying one first step would be calling your nearest Fiat dealer to confirm that they have one or more techs certified for servicing the 500e.

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  10. #26
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    Quote Originally Posted by rkw View Post
    That would make you so happy, but Sergio doesn't want them back.

    The EV-1 was lease-only and they all went back to GM at end of lease. Fiat actually sells the 500e, and the ones that were leased have been going into the used car market after return. Same as the Leaf, BTW.
    Once everybody starts suing Sergio because they can't get their used 500e's serviced he will buy them all back and put them in the crusher.

    tEdo0ph

  11. #27
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    Quote Originally Posted by Charrigan View Post
    OP- I also am lucky enough to have access to Manheim auctions as well and since the jalopnik article I've been watching values. Since the articles about the wholesale prices it bumped values on the 500e. You're still getting a deal IMO. I couldn't justify not getting one. Owners give them great reviews. Fiat farms out EV items so build quality on the inverter, battery pack, and motor is solid. The 8/100k battery warranty sealed the deal for me. I pirchased a 2013 w/ 20k miles for under $5k yesterday. Just waiting on vehicle transport from SoCal to Michigan. I believe I'll have the first 500e in Michigan outside of the manufacturer plated cars. 4 of coworkers are using me as a Guinea pig and they will likely all be buying a 500e as well.

    Theres going to be a lot of mom and pop used car dealers selling them in the coming months.

    If you're still considering buying one first step would be calling your nearest Fiat dealer to confirm that they have one or more techs certified for servicing the 500e.
    So what are you going to do when the inverter fails.

    Get out your soldering iron?

    Tedolph

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    Quote Originally Posted by Tedolph View Post
    So what are you going to do when the inverter fails.

    Get out your soldering iron?

    Tedolph
    Buy another EV for $5,500. Most the 292 used 500's are still under factory warranty.

    What are you going to do, when you engine fail. A new engine transplant is worth more then a 2012 ICE vehicle.

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  14. #29
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    1) It's a Fiat. The resale on any Fiat isn't exactly stellar. Between being an Italian brand that really doesn't have much of a foothold in the US and the lousy quality reputation not many people want to take a shot at one. Combine that with the perception that if it's selling that cheap with so few miles/years that there must be something wrong with it and you get a downward spiral in what people are willing to pay.

    2) Short range. Cars with this range are a hard sell even brand new and being used doesn't make that any easier.

    3) Standard EV issues like battery longevity worries. We know they're lasting way longer than expected and have that 8 year / 100k mile warranty but most people don't. They think buying a used EV is guaranteed to cost them an extra several thousand in just a few years or leave them saddled with a worthless car.

    4) Lease prices are so absurdly low that it costs less to lease one for 3 years than to make payments on a 3 year $6,000 loan. Combine that with the widely accepted perception that current EVs are virtually disposable because of battery life and it's a no-brainer to lease a new one instead.

    5) Rapid improvement in BEVs. People are often reluctant to buy new phones because the next faster, better, shinier model could come out any day and that's only a few hundred dollar purchase. Spending a few thousand on a car when you keep hearing about how the next one will have twice the range doesn't exactly make buying one that's already a few years old very appealing.

    6) Lack of high-speed charging. Too many other EVs offer this for the 500e to not stand out with the absence.

    7) It doesn't look like an EV. Lots of people that want an EV and can only afford a used one don't want to be stealthy about it. They'd rather spend a bit more on a Leaf and at least get the green cred from people recognizing it as an EV.

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    Quote Originally Posted by Tedolph View Post
    So what are you going to do when the inverter fails.

    Get out your soldering iron?

    Tedolph

    Are you able to provide one instance of a complete failure of an inverter or motor?

    Worst case Poor condition 500e's are selling for low $2,000's. I already know the cheapest solution for a battery pack is $8000 refurbished from fiat. I could make money off the car in selling the battery pack alone.

    These cars weren't designed to be throw away cars. My boss was head of engineering for Fisker and they long term tested major components to beyond 200k miles. I would assume the contracted builders of the motor, inverter, and battery pack had a design requirement well beyond 100k miles.

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