COVID + high fuel prices. How much is my car worth?

[Isaac Zachary]

I question whether I really need two cars. I can only drive one. What if I sell one?

What if I'm in an accident and it's not my fault and insurance pays for my car? How much would I get?

I was thinking about the Avalon hybrid and first used Kelly Blue Book to see what they said. According to KBB the car has a trade in value of $9,600 and a private party value of $11,500, give or take a thousand.

But when looking for a similar Avalon, I can't seem to find one for less than $17,000, for similar miles and years, and those are over 500 miles away. Searching closer to home prices are even higher. Carmax has one for $21,000, same year and color, but with lower miles at 75k instead of 115k, only 300 miles away (in NM, which I believe is a cheaper market than Colorado).

I owe $3,000 on it.

I'm tempted to try to sell it.

[redpoint5]

Sell it private party. Doesn't hurt to list it for the amount you'd be happy to get.

[Isaac Zachary]

It looks like there are parts of the country where I could get a Chevy Bolt that costs about the same. I wonder what insurance would be though and if the Bolt would work for us. It's got to be better than the Leaf.

[redpoint5]

See if there's a Bolt on Turo and rent it for a couple days to see if it works for you. Springtime is upon us, so it won't simulate the worst CO can throw at it. Expect about 1/3rd reduced range in winter compared with best range in the spring.

What's your charging situation looking like at home?

[Isaac Zachary]

I couldn't find a Bolt in the entire state of Colorado.

Charging is a 20A 120V outlet, with the possibility of a 40A 240V EVSE again, although I have the suspicion I might move some day somewhere with less of a chance of having a level 2 EVSE. Let's just hope I don't.

But there is a free 4 hour 6kW EVSE station that practically nobody uses in walking distance of my job.

[redpoint5]

Perfecto. Use the free stuff while you can.

That said, your instincts are all wrong. You don't buy a used EV when used car prices are up 40% and everyone wants an EV. You buy an EV when gas prices are 2/gallon and nobody wants them.

Sell the extra car now, throw those funds in the stock market while it's low, and sell when it recovers, and buy when nobody wants an EV.

[Isaac Zachary]

Bolt with 45k for $16,440:

https://www.autotrader.com/cars-for-...ngId=556875777

Avalon hybrid similar miles, same year for $19,990:

https://www.carvana.com/vehicle/2254234

2006 Prius second car, burns oil and needs catalytic converter (OEM California Compliant according to Colorado Law) and possibly HV battery and either pistons or maybe short block (oil burning), although not necessary right now (battery works since I changed a few modules and there is no emissions test).

[Isaac Zachary]

Originally Posted by redpoint5

Perfecto. Use the free stuff while you can.

That said, your instincts are all wrong. You don't buy a used EV when used car prices are up 40% and everyone wants an EV. You buy an EV when gas prices are 2/gallon and nobody wants them.

Sell the extra car now, throw those funds in the stock market while it's low, and sell when it recovers, and buy when nobody wants an EV.

Used Electric Car Prices have Soared.
https://insideevs.com/news/560332/us...prices-soared/

[redpoint5]

I've been tracking used Bolt inventory for over a year. When I started looking, there were 125 in a 200 mile radius. Today, there are 2, and they are way above the new price of a Bolt over a year ago.

You don't profit by doing what everyone else is doing (reacting), you profit by doing the opposite.

[oil pan 4]

Used car prices are soaring. Sell it. Take advantage of the suckers.