Rising used car prices is good news for Slate!

[Doctors Do Little]

I keep thinking that it would be a hoot to be a mobile installer of Slate accessories for those less mechanically inclined. Sort of like the dudes who drive around putting together IKEA furniture for the city folk without basic tools (or experience)? I would imagine that would be a fun YouTube channel to create…just gotta figure out a one-year sabbatical plan and get a killer Slate-wrapped trailer?

 

[Letas]

Another factor is ease of personalization.

Don't like the color? Wrap it in a color you prefer.

Wish it had (door pockets | upgraded bumper | different ride height | yadda yadda)? Buy the used truck and make it the way you want it.

Edit: And you don't need to do the mods right away. That's kinda nice.

Yea, takes away a lot of the challenge of finding the “perfect” used model. That being said…. I won’t expect to get return on the addons I choose, like modded jeeps

 

[AZFox]

Yea, takes away a lot of the challenge of finding the “perfect” used model. That being said…. I won’t expect to get return on the addons I choose, like modded jeeps

I have an example. Just something I noticed recently.

I just priced out a used pickup truck for someone and the value of a Bed Extender added a whopping $7.

 

[Letas]

I have an example. Just something I noticed recently.

I just priced out a used pickup truck for someone and the value of a Bed Extender added a whopping $7.

Yep. Dealers love to tell you they don’t add value to trade in, but they’ll do everything they can to mark it up on sale!

Id imagine used Slates will sell for 19-22k a year or two after release, assuming normal mileage and condition

 

[1yeliab_sufur1]

Yep. Dealers love to tell you they don’t add value to trade in, but they’ll do everything they can to mark it up on sale!

Id imagine used Slates will sell for 19-22k a year or two after release, assuming normal mileage and condition

true and that could be there best selling point for some I bet maybe it’s a long game there playing especially if they have a lot of used In House that way it’s basically free money on the used I bet

 

[sodamo]

I’m thinking the accessory partner will be a primary player, those 2500 nationwide players. Your used Slate gets refurbed and the latest made available to trick out. At some point that would also be latest battery upgrade. Blank Slate has a core value depending on age/mileage.
Whereas current dealerships are competing against their newst offerings, Slate will be basically expanding their base. They could milk 10 years or more from the Blank Slate model before a major upgrade while still doing a portfolio upgrade.

 

[Doctors Do Little]

In the bougie world of $25K golf carts that get tricked out and then traded or sold for $12K, there is an allegory. This is just a stronger golf cart with more safety features to them. The bougie won’t care. The rest of us might look carefully at each mod? YOLO vs future retirement calculations….

 

[B1050]

I'm older but I remember when $300 would get a used car that "runs". Now I drive past a used car lot that brags about how many cars they have under $15,000. I see people post on social media looking for a reliable vehicle for around 3 or 4 thousand dollars and I'm like good luck with that.

 

[Doctors Do Little]

I'm older but I remember when $300 would get a used car that "runs". Now I drive past a used car lot that brags about how many cars they have under $15,000. I see people post on social media looking for a reliable vehicle for around 3 or 4 thousand dollars and I'm like good luck with that.

I drove a 1983 Ford Escort in 1991 for a semester. It had been wrecked and sort of rebuilt by my dad - $350! It leaked and 3rd gear didn’t work. It was a step up from a ten-speed bike in the Atlanta heat though….

 

[Trace26]

The reason for this is three fold.
1. Since 1975 inflation, according to the federal government numbers, has gone up almost 500%. Many believe the true numbers are higher.
2. During the same time period emission/MPG regulations became more and more strict, leading to higher prices.
3. Cash for Clunkers program in 2009, it removed an entire generation of used cars. Especially cheaper used cars.

I'm sure there's more reasons than just this, but it's the main driver's of the price increase.

I'm older but I remember when $300 would get a used car that "runs". Now I drive past a used car lot that brags about how many cars they have under $15,000. I see people post on social media looking for a reliable vehicle for around 3 or 4 thousand dollars and I'm like good luck with that.

 

[metroshot]

Noticed my current EV used valuation has gone up, but not the amount I'd expect since ICE / Hybrids are still fetching more $$.

Remember, buying an EV usually means a very serious hit in depreciation the first year so don't compare numbers with an ICE/Hybrid.