The Expert Podcast

 In this episode, we discuss the importance of evaluating the health of an electric vehicle (EV) battery when buying a used EV.

Key Highlights:

• A case where a customer bought a used EV, only to find out shortly after that it needed a new battery costing $26,000.
• Additional costs for labor and taxes brought the total repair cost to approximately $30,000.
• The car in question had 70,000 miles on it, but the battery warranty had expired since the vehicle was a 2014 model, well past the 8-year or 100,000-mile warranty period.

Important Questions Raised:

• With used EVs, what happens when the battery needs replacing, especially after the warranty expires?
• Will electric vehicles follow a trend similar to cell phones, where you just replace the whole device instead of repairing it?
• Will this shift in EV repair costs affect the used car market and the way people buy and sell cars?
• Will it add a new financial burden for people who buy cars to keep long-term and lower their automotive expenses?

Discussion Prompt:

• We’d love to hear your thoughts! How do you think the future of used electric vehicles will unfold? Will it become more expensive, or will there be better solutions in the future?
• Let us know in the comments!

Topic: Exploring Electric Vehicle Incentives

• Resource: JD Power and Associates guide on electric vehicle incentives (link below)
• Key Points:
  • Incentives Overview: New Build Back Better law signed, offering numerous incentives for electric vehicles, including used models.
  • Eligibility Criteria:
    • Income requirements
    • Vehicle value requirements
    • Manufacturer requirements
  • Types of Incentives:
    • Federal Tax Credits: Federal incentives available for electric vehicles.
    • State and Local Incentives: Every state offers some type of incentive for electric vehicles.
    • Utility Company Incentives: Many utility companies provide incentives, including rebates for home chargers.
    • Employer Incentives: Some employers offer incentives for electric vehicle purchases.
    • Dealerships: Dealers may provide incentives, but they may not be aware of all available options.
  • JD Power Guide: A comprehensive guide to help you find and access all available incentives to offset the cost of new or used electric vehicles.

 Understanding Electric Vehicle Battery Warranty Exclusions and Exceptions

• Electric vehicles (EVs) are becoming more common, and if you don’t own one yet, you'll likely have to soon. Here’s important info about EV battery warranties and the exclusions to keep in mind.

Common Warranty Exclusions for EV Batteries

• Non-standard charging: Avoid using improper plugs or charging methods.
• Installing non-approved parts: Adding fancy wheels, upgraded radios, or changing the vehicle’s computer may void your warranty.
• Using the battery as a stationary power source: Some EVs allow battery reverse flow to power homes—check if this voids your warranty.
• Opening the battery coolant reservoir: Tampering with the coolant may impact your warranty.
• Failing to install software updates: Just like your phone, ignoring updates may affect the battery warranty.
• Repairs by non-certified technicians: Always have your EV serviced by certified professionals to maintain the warranty.
• Improper lifting of the vehicle: Lifting the vehicle from the wrong points can damage the battery.
• Failure to make repairs: Ignoring warning lights or postponing repairs could void the warranty.
• Towing limits: EVs are sensitive to towing; check for towing guidelines to avoid damage.
• General abuse or neglect: Any damage due to neglect can void your warranty.

Owner's Manual Insights

• Battery usage: Overuse of rapid charging (e.g., charging quickly multiple times in a row) can void the warranty.
• DC fast charging: Manufacturers like Kia advise keeping fast charging to a minimum to extend the battery life. Be aware of these limitations to avoid potential issues.

Key Takeaway

• Know the terms of your EV battery warranty to avoid voiding it. Regularly check the manufacturer's guidelines to ensure your battery remains covered and protected.

 Ford's Huge Investment: Ford is building the largest manufacturing facility ever in Tennessee, specifically for electric trucks. This new plant is dedicated solely to electric trucks, marking a major step in Ford's EV future.

• Chrysler’s Bold EV Commitment: Chrysler announces plans to go all-electric by 2028, making it one of the most ambitious goals in the industry. In just five years, they will stop producing gas-powered vehicles. Consider the implications if you’re buying a car with a 5-6 year loan right now – by the time your loan ends, Chrysler may only offer electric vehicles.
• General Motors’ EV Shift: GM is investing $750 million to transition an Ohio plant to produce EV parts, including electric vehicle transmissions, signaling a significant shift toward EV production.
• Hertz and BP Partnership: Hertz teams up with BP to install thousands of EV chargers across the U.S., with plans to add hundreds of thousands of EVs to their fleet. This collaboration will make EV charging more accessible, especially in high-traffic locations open to the public.
• The Future is Electric: With all three major U.S. automakers, rental car companies, and oil companies diving into the electric vehicle industry, the future of gasoline cars is looking uncertain. In just a few years, gasoline vehicles might feel like a thing of the past.
• Planning for the Future: As the shift to electric vehicles accelerates, it’s time to start planning ahead. Consider installing an EV charger in your garage today while prices are still lower. Think about where you want to live, taking into account access to charging stations and EV-friendly infrastructure.
• Join the Conversation: Share your thoughts with us in the comments!

Topic: Southern Oregon Electric Vehicle Dealership Goes Solar Powered

• Overview: A Chevrolet dealership in Southern Oregon is leading the way in promoting electric vehicle (EV) technology by making its operations solar-powered.
• Key Points:
  • The dealership is the largest Electric Vehicle Dealer in Southern Oregon.
  • They have installed large solar trackers on their roof, which follow the sun’s movement to maximize energy generation.
  • The solar power generated is used to run the dealership and charge electric vehicles on-site.
  • This initiative aligns the dealership's operations with its promotion of electric vehicles, creating a more sustainable business model.
  • The dealership’s use of solar energy reinforces their commitment to the electric vehicle market and supports their eco-friendly sales pitch.

Takeaway: By integrating solar power into their operations, this dealership not only promotes electric vehicles but also demonstrates a full commitment to sustainable energy practices. 

 Topic: Understanding Electric Vehicle Battery Life and Preservation Tips

• Guest: AutoWeek Editor

Key Points:

• Battery degradation in electric vehicles (EVs) is similar to mobile devices and laptops: batteries naturally degrade over time.
• EVs depend heavily on their batteries since they lack traditional engines like internal combustion vehicles.
• Extreme temperatures (hot and cold) mimic battery degradation by reducing range and slowing charging speeds.
• Preservation Tips:
  • Park EVs away from extreme temperatures or in a garage to protect the battery from temperature extremes.
  • Avoid fully charging the battery every time—keeping the charge between 20-80% is optimal for battery longevity.
  • Don't let the battery discharge completely; try to plan trips with a buffer to prevent draining to 0%.
  • Avoid using fast chargers too frequently as it causes wear and tear on the battery, leading to premature failure.
  • Repeated use of launch controls or high-speed driving can damage the battery and degrade its capacity faster.
• Battery Life Expectancy:
  • Most EV batteries last around 100,000 miles before showing noticeable signs of degradation.
  • Manufacturer warranties typically cover up to 70% capacity, so even if the battery loses 20-30% of its range, it may not be considered a warranty issue.
• Charging Concerns:
  • Access to chargers isn’t as critical as the time it takes to charge. Charging can take 1.5-2 hours, which can be as long as driving to the next charging station.
  • Fast charging, when used too often, can void warranties from some manufacturers.
• Tips for Buying Used EVs:
  • Always test the battery condition beforehand to ensure the battery is not already near the end of its life.

Conclusion:

• Maintaining an EV battery requires mindful charging, driving habits, and climate considerations. Regular monitoring and care will help preserve battery life and ensure optimal performance.

Introduction:

• Car buying has become incredibly difficult with limited inventory and high markups at dealerships. But there’s a strategy you can use to get the best deal on the car you want.
• Today, we’ll show you how to navigate this tricky landscape using a real-life example: the Chrysler Pacifica.

Step 1: Use the Chrysler Search Tool

• We selected the Chrysler Pacifica AWD model and input a 250-mile radius around a zip code north of Dallas.
• Tip: Always select the largest radius allowed to expand your search options.
• Make sure to filter for vehicles "on dealer lot" first to see what’s available immediately.

Step 2: Understand What’s Available

• In our search, we found 57 "near matches" and just one exact match. Many of the cars available were Pinnacle and Touring models, which are higher-end and lower-end trims.
• Price difference: Pinnacle models were priced around $58,000, while Touring models were priced around $42,000.

Step 3: Investigate “In Transit” Inventory

• Switching to the "in transit" filter, we observed more Limited models coming soon, but still fewer than Pinnacle and Touring models.
• Takeaway: Limited models will be more difficult to find, and likely won’t be discounted heavily.

Step 4: Learn About the Pipeline

• Knowing what’s coming into dealer inventories can help you plan.
• If you’re looking for a particular model, such as the Limited, you’ll see it’s in short supply compared to other models.
• Dealers will have more of certain models, and this insight can help you negotiate better.

Step 5: Check Models Being Built

• By examining the “being built” inventory, you can predict future availability.
• High-end and low-end models are being prioritized, while mid-tier models are in short supply.
• If you can be flexible, you may get a good deal on a Touring or Pinnacle model that’s heavily discounted.

Step 6: Leverage Discounts and Rebates

• Dealers may already have discounts on some models. For example, the difference between a Limited ($56,057) and a Pinnacle ($58,435) could be as low as $1,000 after applying discounts.
• Look for dealer ads that show rebates and special offers to make the deal even better.

Conclusion:

• You don’t need to buy blindly or settle for a high markup. Understanding the pipeline and inventory will give you an edge when negotiating.
• Stay informed, know what’s coming, and you’ll be in a better position to strike a deal on your next car purchase.

Final Tip:

• This strategy works for almost any brand of car you’re interested in. Keep exploring, and happy car shopping!

Episode Description:

• California plans to ban the sale of new gasoline-powered cars by 2035, which is still over a decade away, but the shift to electric vehicles (EVs) is already underway.
• Recently, California experienced power grid strain due to extreme heat, leading utility operators to ask residents to avoid charging their electric vehicles to prevent blackouts.
• Currently, electric vehicles make up about 5% of the vehicles on the road in California. With the transition to 100% electric vehicles, the need for new charging infrastructure connected to the power grid will grow significantly.
• On top of the increased demand from EVs, California is also banning new hookups for propane or gas appliances in households, adding pressure on the power grid with the shift to electric alternatives in appliances like water heaters, stoves, and dryers.
• The question remains: By 2035, will there be enough grid capacity to support the increase in electric vehicles, appliances, and overall household energy demand? Or will there be times when people can't even charge their EVs at home?
• What do you think? Is this a game of chicken or an accident waiting to happen? Do the regulatory agencies and power grid operators have a solid plan, or are they in over their heads? Are you concerned about owning an electric vehicle and the potential difficulty in charging it at home? Let us know your thoughts!

Key Topics Covered in This Episode:

• Electric Vehicle (EV) Sales Slowdown
  • Increasing sales backlog for electric vehicles.
  • New EV reservations suggest the "shortage" may persist long-term.
• Changing Vehicle Purchasing Norms
  • Traditional dealership model shifting away from speculative inventory.
  • Manufacturers producing fewer cars to avoid overstock and discounts.
  • Future outlook: Waiting for vehicle orders might become the standard process.
• The Rise of Used EVs
  • Bloomberg reports 5% of new car sales in the U.S. are EVs, marking a tipping point.
  • Factors driving interest in used EVs:
    • High gas prices and inflation.
    • Maturation of the used EV market.
  • Shift in buyer behavior:
    • In 2021, only 50% of EV shoppers considered used EVs.
    • By 2022, this figure rose to 80%.
• Used EV Market Trends
  • Increasing demand leads to the establishment of dedicated EV departments in dealerships.
  • Challenges to consider, like battery condition and long-term maintenance.
• Electric Vehicle Pricing Trends
  • Both new and used EV prices are rising steadily.
  • Shortage contributing to price inflation:
    • Buyers flipping new EVs for profit.
    • Elevated competition in the used EV market.

Takeaway:
The electric vehicle industry is undergoing rapid transformation, with changing norms in purchasing, rising interest in used EVs, and shifting market dynamics making it essential to stay informed.

Description:
In this episode, we dive into the challenges that aspiring homeowners face in today’s real estate market. Whether you’re a millennial or anyone looking to buy a home, these obstacles can feel insurmountable. Here are the key points discussed:

• Limited Inventory of Quality Homes:
  • Many homes on the market lack curb appeal, good locations, or updated designs.
  • New home construction has been slow due to economic factors like the 2008 financial crisis, supply chain issues, and rising interest rates.
  • Older homes often have outdated layouts and designs.
• Homeowners Holding Onto Great Homes:
  • If someone has a desirable home, they are less likely to sell due to limited options for upgrading.
  • Extra homes are often rented out or used as vacation properties instead of being sold.
• Skyrocketing Prices:
  • Homes with desirable features such as good locations, upgrades, and large yards are in high demand.
  • Competitive bidding drives up prices, making it harder for buyers to secure these homes.
• High Interest Rates:
  • Current homeowners with low-interest rates are hesitant to sell and take on higher rates for a new home.
  • This leads to fewer quality homes entering the market.
• Long-Term Challenges:
  • Builders are reluctant to invest in speculative projects due to economic uncertainties.
  • Even if construction picks up, it will take years for new homes to impact the market.

Key Takeaway:
The combination of limited inventory, high prices, and economic pressures means that finding a good home will remain a significant challenge for at least the next five to ten years.

Tune in for insights and strategies to navigate these obstacles in your home-buying journey!