Buy EV now or wait for supply increase?
Hi all, I’m located in Orlando, Florida and have been keeping an eye on the used EV Market. I currently drive a 2022 Lexus IS300 (2.0t RWD), it’s paid off and I don’t mind it but I’ve really been wanting to make the move into an EV. I’ve been looking at 22-23 Tesla Model 3 long range’s (want AMD chip), 23 Model Y long range’s (want matrix headlights), and 22-23 BMW I4 edrive40’s.
My question is if you were in my position would you jump on something now if you find an alright deal as gas prices are rising and used EV demand seems to going up some, or would you wait it out till later on this year as many have predicted that prices will drop a bit.
Supply is expected to increase this year (roughly 300k lease returns hitting the market). I’m assuming with the lease returns it will probably impact Tesla’s more than the BMW since Tesla moved more volume on leases back in 2023. I’ve always been someone who tries to get a good deal on my cars and I just feel like if I buy now I may end up upside down if values tank later this year with a supply increase. Any advice or input is much appreciated.
Cheers!