00:00 Speaker A
And as we see consumers maybe become a bit more choosy about the types of cars that they’re purchasing for both gas-powered cars along with EVs. What’s the used car market been like? And and how does that compare to some of these newer vehicles on the market?
00:20 Brian
Well, one thing we know is that electric cars tend to depreciate very rapidly. So whenever you see analysis of the cost to own, factor in initial purchase price and depreciation. The good news for consumers is that if you’re looking for an electric car, a used electric car will be an amazing bargain. Like they are really competitive in terms of pricing. But at the same time, you get lots of compelling features and you get lots of cool safety equipment. So it can work out for consumers if they’re looking for a good used electric car.
00:53 Speaker A
And finally, for shoppers looking to buy or trade in, end of year is usually that time that we see the most deals, the more the most tax incentives. Is that still the case this time around or did that playbook change a bit with the expiration of these tax credits?
01:14 Brian
I I think there’s a there’s several things putting pressure on that. Of course, you’re going to see a little bit of that. It’s going to be model by model, not brand by brand. But the two things that we’re seeing is the expiration of the incentives plus tariffs. All of those things could have the potential to make the 2026 cars more expensive so that you may be able to get a discount on the 2025, but that’s probably it. Going forward, not every automaker can afford to absorb the tariffs as many are doing right now.
01:46 Speaker A
All right, Brian, a lot to think about as we head towards the end of the year. Appreciate it. Thanks so much.
01:52 Brian
Thanks.
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