Electric Cars May Depreciate More Than Expected

According to a study by Mitsubishi, which surprisingly is getting ready to launch its own electric car, high purchase price and rapid depreciation are what may make electric cars uncompetitive financially.
All new-car buyers take a hit on depreciation, as much as 20 percent the minute it's driven off the dealer lot.
With an EV, the battery pack often accounts for a much larger percentage of the car's original value. The problem is that no one knows how long the EV's battery will retain a charge.
Nissan has said that the Leaf battery might only hold 80 or 70 percent of its original charge after ten years. This makes the car worth considerably less.
But there are other benefits to going gasoline free - like no tailpipe emissions.
Considering other EV tradeoffs, such as range and infrastructure, depreciation is another thing EV buyers will have to take into account before purchasing.
3 Steps Every Car Buyer Needs to Take to Save Maximum Money
The key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:Step 1 Get Prices From My Trusted Network
Select the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).Step 2 Get Prices From TrueCar / CarsDirect
TrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.Step 3 Complete my Checklist
Follow this up with my checklist to make sure you squeeze out every last bit of savings.- Gregg Fidan

Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid
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