Many new EV buyers may lease as a form of financial risk transference, but lessors are more aware of poor residual value and lease costs could rise.
The poor residual value of EVs could contribute to lower or slower overall adoption. That's no surprise, especially since consumers have become hyper-aware of used EVs rapidly dropping in value over their first few years of ownership. And while buyers are the most hurt by depreciation, it turns out that lessees aren't exactly free from the pain either. The newest study comes from J.D.
Monthly payment is a huge factor when buying a new car, and if residual values keep dropping, the monthly payment could rise. This isn't the first time poor resale value has threatened EV adoption. A recent study by ISeeCars revealed that the average price of a used EV fell 31.8% year-over-year, a huge delta compared to the average combustion-powered car dropping just 3.6%. Karl Brauer, executive analyst at iSeeCars, says residual value loss could dissuade shoppers from buying a new EV.
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