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People likely wouldn't do it for resale purposes, but value encompasses much more than simple resale. Unless you expect to be able to buy a new 200 mile range EV for 10k in eight years it would still be a good deal. The motor will still have hundreds of thousands of miles left on it. Unless there are other issues with the car, 10k to get another 100-150k miles is pretty cheap any way you cut it. People make this same mistake all the time with ICE vehicles. If you have a car that is otherwise in good condition, a replacement that is more than the value of the car is still worth doing if you plan on continuing to drive the car. Spending 5k to get another 10 years out of a car is cheaper than spending 20-30k on a new car. Now, if the car is in a state where there will be cascading failures, then the total of the repairs may very well suggest buying a new (or slightly used) vehicle.
People likely wouldn't do it for resale purposes, but value encompasses much more than simple resale. Unless you expect to be able to buy a new 200 mile range EV for 10k in eight years it would still be a good deal. The motor will still have hundreds of thousands of miles left on it. Unless there are other issues with the car, 10k to get another 100-150k miles is pretty cheap any way you cut it.
People make this same mistake all the time with ICE vehicles. If you have a car that is otherwise in good condition, a replacement that is more than the value of the car is still worth doing if you plan on continuing to drive the car. Spending 5k to get another 10 years out of a car is cheaper than spending 20-30k on a new car. Now, if the car is in a state where there will be cascading failures, then the total of the repairs may very well suggest buying a new (or slightly used) vehicle.
