The $69,000 Fisker Ocean has dropped 69 percent in value in just two months

picture: Fisker

When you buy a new car, you buy it knowing that its value will depreciate. At least as long as it's a relatively normal car and it's not Something like a Porsche 911 R. However, it's not as bad as many financial influencers who say “never buy a new car for any reason.” You probably won't get every penny back if you try to sell a new car the next day, but you won't actually lose 30 percent the minute you drive off the lot. Unless you're Edmunds And recently bought Fisker ocean For testing, that is.

Last January, Edmunds purchased a Fisker Ocean to add to its long-term test fleet. The 2023 Fisker Ocean Extreme port cost $69,012 (nice!) and was about as loaded as an Ocean can get without all the promised over-the-air updates. Last Friday, after only two months of testing, I published an article entitled β€œDon't buy a Fisker Ocean,” which we have to agree is great advice. Fisker's impending bankruptcy and software that still needs improvement make it difficult to justify Spend up to $24,999 on a new surround now.

The biggest shock came when Edmunds took our Ocean in for evaluation at a local CarMax. When the appraisal came back, CarMax told Edmunds that her two-month-old car with only 4,220 miles on it (oh, so close!) was worth just $21,000. If you do some quick math, that means Fisker Ocean lost 69 percent (not good!) of its value in the same amount of time it takes Netflix to stream one season of the series. love is blind.

Using Edmunds' own calculations, if a new car typically loses 20 percent of its value in the first year and 15 percent annually after that, that translates to something like five years of depreciation in two months. This is just ridiculous. Even if you're okay with the fact that you'll probably never get the features Fisker originally promised, with a drop like this, you'd be foolish to buy a new Ocean now.

However, if any Fisker dealer is reading this and wants to do a direct trade, I'll probably be convinced to part with my 2008 Subaru Forester that needs an engine rebuild and a new transmission. It's not worth much, but neither are your oceans, so in fact, you might end up owing me money. Just don't expect me to agree to wait until next month to cash that check. I may not be very smart, but at least I'm smarter than that.

See also  IMF chief: An additional 20% drop in US stocks is 'definitely possible'

Leave a Reply

Your email address will not be published. Required fields are marked *