Used GV60

[G-533860]

Thank you EVSquatch. I really am a bit disappointed by the reduction in warranty coverage. Has this become common in the industry? I can't recall ever seeing factory warranty reduced for 2nd owner except for the 2008-2010 fad of "lifetime powertrain" that some of the OEMs were doing. It almost makes me uneasy about the resale value of these vehicles. If we are hesitant to buy used, then so might others be hesitant and therefore resale value is impacted. Hmmm

It is disappointing. Had the battery and powertrain warranty been preserved for the second owner then buying used might be feasible but I have dealt with the pain of buying used electric (BMW i3) in the past and it was a nightmare. It was an out of state purchase and I had to deal with that hassle including doing a separate inspection and then in short order I started having issues (it was the first model year). Some we’re covered others not. The biggest issue was they didn’t know how to fix the issues because it was the first model year and service wasn’t fully trained.

I ended up selling at a $15K loss and said never again.

I work in technology development and I can say with confidence that battery technology is advancing rapidly. What you purchase today will be obsolete in 2 years. We are moving to solid state batteries that have much higher densities, are safer because they have almost no risk for runaway thermal events like liquid electrolyte batteries and provide much more range (500 miles plus) and much shorter charging time.

Until we move to the next phase of battery advancement (solid state) I would strongly recommend only leasing to protect you from severe depreciation and obsolete technology in the areas that matter most for EVs: range, charging time, degredation.

 

[EVsquatch]

Also, as a general rule, buying a luxury vehicle at a dealership not of the same brand is usually a red flag. The fact that this isn’t being sold at Koons Genesis speaks volumes.

It means it can’t be certified to Genesis standards for certified previously owned. They would be able to list it for much more so they would be incentivized. It could be that there was too much tire or brake ware or other issues.

The price was attractive but when I started thinking about the math and all the potential pitfalls and hassles it just didn’t work.

 

[EVsquatch]

It is disappointing. Had the battery and powertrain warranty been preserved for the second owner then buying used might be feasible but I have dealt with the pain of buying used electric (BMW i3) in the past and it was a nightmare. It was an out of state purchase and I had to deal with that hassle including doing a separate inspection and then in short order I started having issues (it was the first model year). Some we’re covered others not. The biggest issue was they didn’t know how to fix the issues because it was the first model year and service wasn’t fully trained.

I ended up selling at a $15K loss and said never again.

I work in technology development and I can say with confidence that battery technology is advancing rapidly. What you purchase today will be obsolete in 2 years. We are moving to solid state batteries that have much higher densities, are safer because they have almost no risk for runaway thermal events like liquid electrolyte batteries and provide much more range (500 miles plus) and much shorter charging time.

Until we move to the next phase of battery advancement (solid state) I would strongly recommend only leasing to protect you from severe depreciation and obsolete technology in the areas that matter most for EVs: range, charging time, degradation.

 

[ljnelson109]

First of all, thanks to everyone for your input here. This has given me good data for our efforts today.

We don't need a vehicle today. We do, however need to make a decision. We have a Corsair GT (PHEV) that we custom ordered 11 month ago sitting on the dealer lot waiting for our decision. During that time, my itchy feet, led me to start looking at EVs. Ironically, the Corsair has features that even the GV60 Performance doesn't offer. But, clearly is not a full EV. So, we first need to decide if we are ready to take the EV plunge. If we are, then we need to figure out what makes the most sense for us.

 

[ljnelson109]

I bought mine from Chantilly VA. Advanced, Black with Ash interior

How much of a hassle was tags and title with an out of state purchase?

 

[EVsquatch]

First of all, thanks to everyone for your input here. This has given me good data for our efforts today.

We don't need a vehicle today. We do, however need to make a decision. We have a Corsair GT (PHEV) that we custom ordered 11 month ago sitting on the dealer lot waiting for our decision. During that time, my itchy feet, led me to start looking at EVs. Ironically, the Corsair has features that even the GV60 Performance doesn't offer. But, clearly is not a full EV. So, we first need to decide if we are ready to take the EV plunge. If we are, then we need to figure out what makes the most sense for us.

Good luck ljnelson.

I really like the Corsair GT PHEV and the great thing about a PHEV is you get the best of both worlds. You have the advantage of going electric for short trips and better mileage for longer trips where you have zero worry about charging.

You also get to park in EV spots at grocery stores and what not, just like a full EV.

Plug in Hybrids also have much better depreciation. We have two in our stable and I am a big fan. There is a lot of hesitancy for EVs in the general public and rightfully so. I am of the personal belief that everyone should be buying a hybrid. Plug in versions are icing on the cake.

 

[ljnelson109]

Good luck ljnelson.

I really like the Corsair GT PHEV and the great thing about a PHEV is you get the best of both worlds. You have the advantage of going electric for short trips and better mileage for longer trips where you have zero worry about charging.

You also get to park in EV spots at grocery stores and what not, just like a full EV.

Plug in Hybrids also have much better depreciation. We have two in our stable and I am a big fan. There is a lot of hesitancy for EVs in the general public and rightfully so. I am of the personal belief that everyone should be buying a hybrid. Plug in versions are icing on the cake.

My primary vehicle is also PHEV (has been for 6 years, 2 vans and over 125K miles). I am a huge fan of the tech. The Corsair is nice, but honestly doesn't do anything for me. The Revel Audio system is downright lame (top of their line). But I like that it has an OEM (factory installed) hitch which I need occasionally. I am very unhappy that Genesis rates the GV60 for towing but doesn't offer a hitch.

 

[EVsquatch]

My primary vehicle is also PHEV (has been for 6 years, 2 vans and over 125K miles). I am a huge fan of the tech. The Corsair is nice, but honestly doesn't do anything for me. The Revel Audio system is downright lame (top of their line). But I like that it has an OEM (factory installed) hitch which I need occasionally. I am very unhappy that Genesis rates the GV60 for towing but doesn't offer a hitch.

I am with you on the hitch, I am in the same situation. We had to have our hitch installed after the fact and it isn’ t as good as the factory option and it sticks out so it’s noticeable.

I saw the Corsair around town and liked the styling but haven’t been in one.

Have you looked at the Volvo XC60?

 

[steveinarizona]

I already looked at this exact GV60 a few weeks back and it was a hard pass.

The dealer was extremely pushy and something just felt off. After doing extensive research I decided that the risk of a significantly used EV (24K in 10 months is a lot of wear) was too great given the reduction in powertrain and battery warranty to only 5 years. In this case it’s 4 years but only 36,000 miles. Also, how did the previous owner charge? If they were putting that many miles on the vehicle they likely fast charged a fair bit and that adds a lot of wear on the battery.

There are a lot of very expensive components in this vehicle and there is almost no reliability data because it is first year production. Also, depreciation is severe and continues to drop significantly. The range will be a factor in two years when most OEMS will have vehicles on the road with 300-500 miles of usable range.

I would lease or buy a new one. You wil get the full 10 year warranty on battery, powertrain, roadside assistance, maintenance, valet service, and free three years of charging. New ones are sitting on dealer lots and aging and now is the time to bargain.

My suggestion is to not fall into the used EV trap. You, at a minimum want to be covered for the battery degradation and powertrain for as long as possible with a new production vehicle.

I think it depends upon the buyer profile. If the buyer is someone who likes to keep a car a long time, then a new car with the longer warranty makes sense; on the other hand, if the buyer is someone who frequently turns over her vehicle, then a used vehicle makes more sense as the longer warranty doesn't matter.

 

[steveinarizona]

First of all, thanks to everyone for your input here. This has given me good data for our efforts today.

We don't need a vehicle today. We do, however need to make a decision. We have a Corsair GT (PHEV) that we custom ordered 11 month ago sitting on the dealer lot waiting for our decision. During that time, my itchy feet, led me to start looking at EVs. Ironically, the Corsair has features that even the GV60 Performance doesn't offer. But, clearly is not a full EV. So, we first need to decide if we are ready to take the EV plunge. If we are, then we need to figure out what makes the most sense for us.

I drove a PHEV for five years before getting the GV60. It was a 2018 530e. I did like it but the EV only range was very limited (they increased the battery pack a few years later by about 33%). I am not familiar with the corsair GT so I can't specifically address it. But my PHEV did have a phone app with features similar to the Genesis app and I was able to order it so I got it with nappa leather, adaptive dampers, etc.

The only negative thing I can think of (leaving dealership issues aside) is the range on the GV60. For me, that has not been an issue. Driving like I hate it and not trying to save range, I can still fit all my daily driving into the 20-80 battery state of charge by simply charging overnight. I am a devoted Costco buyer and I love driving by the fuel pump lines as I head directly to the store.

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[G-608886]

I think it depends upon the buyer profile. If the buyer is someone who likes to keep a car a long time, then a new car with the longer warranty makes sense; on the other hand, if the buyer is someone who frequently turns over her vehicle, then a used vehicle makes more sense as the longer warranty doesn't matter.

But depreciation does matter. Look at the depreciation curve on the GV60. This lost $15K+ of value in 10 months.

EVs not named Tesla depreciate much faster than ICE vehicles.

You risk accelerated depreciation where you are under water on the loan with a used EV. You can't assume you have already gotten past most of the depreciation.

 

[EVsquatch]

I think it depends upon the buyer profile. If the buyer is someone who likes to keep a car a long time, then a new car with the longer warranty makes sense; on the other hand, if the buyer is someone who frequently turns over her vehicle, then a used vehicle makes more sense as the longer warranty doesn't matter.

But depreciation does matter. This GV60 depreciated 15K in 10 months. EVs have much higher depreciation than ICE vehicles and the depreciation is accelerating as we move into more advanced battery technology.

Also, driving like you hate it will result in a not so nice surprise. EVs eat tires because they are so much heavier and have much higher torque. You will be lucky to get 20K before having to spend $$ to replace them. I know from experience.

 

[steveinarizona]

But depreciation does matter. This GV60 depreciated 15K in 10 months. EVs have much higher depreciation than ICE vehicles and the depreciation is accelerating as we move into more advanced battery technology.

Also, driving like you hate it will result in a not so nice surprise. EVs eat tires because they are so much heavier and have much higher torque. You will be lucky to get 20K before having to spend $$ to replace them. I know from experience.

If someone is going to keep his car for ten years, I would argue that depreciation doesn't matter. But if he is going to swap it after three years for the newest and brightest, then it definitely matters and that is what I said.

While I drive it like I hate it, that is within reason. I am prepared for the OEM tires to wear out and I plan to replace them with Micheliln 4S tires when I do (living in the Scottsdale area I don't really need all season tires).

 

[EVsquatch]

If someone is going to keep his car for ten years, I would argue that depreciation doesn't matter. But if he is going to swap it after three years for the newest and brightest, then it definitely matters and that is what I said.

While I drive it like I hate it, that is within reason. I am prepared for the OEM tires to wear out and I plan to replace them with Micheliln 4S tires when I do (living in the Scottsdale area I don't really need all season tires).

OK but without a powertrain or battery warranty you are on the hook for very expensive repairs in just a few years or sooner since this vehicle already has 24K on it.

The fact that the battery and powertrain warranty doesn’t transfer makes a used EV a terrible financial liability.

 

[Grayson]

It is disappointing. Had the battery and powertrain warranty been preserved for the second owner then buying used might be feasible but I have dealt with the pain of buying used electric (BMW i3) in the past and it was a nightmare. It was an out of state purchase and I had to deal with that hassle including doing a separate inspection and then in short order I started having issues (it was the first model year). Some we’re covered others not. The biggest issue was they didn’t know how to fix the issues because it was the first model year and service wasn’t fully trained.

I ended up selling at a $15K loss and said never again.

I work in technology development and I can say with confidence that battery technology is advancing rapidly. What you purchase today will be obsolete in 2 years. We are moving to solid state batteries that have much higher densities, are safer because they have almost no risk for runaway thermal events like liquid electrolyte batteries and provide much more range (500 miles plus) and much shorter charging time.

Until we move to the next phase of battery advancement (solid state) I would strongly recommend only leasing to protect you from severe depreciation and obsolete technology in the areas that matter most for EVs: range, charging time, degredation.

I was ok with buying the GV60 because I plan to keep it for 15 years and buying saves me money in the long run. The range and charging speed will be sufficient even 15 years from now. Maybe we have more tolerance for outdated technologies. The car we had prior to the GV60 was a 2006 Honda Pilot which didn't have any cameras nor sensors

 

[pippa]

I was ok with buying the GV60 because I plan to keep it for 15 years and buying saves me money in the long run. The range and charging speed will be sufficient even 15 years from now. Maybe we have more tolerance for outdated technologies. The car we had prior to the GV60 was a 2006 Honda Pilot which didn't have any cameras nor sensors

man after my own heart!

I sold my 2008 lexus hybrid yesterday. (talk about eating tires...sheesh.) it's been THRILLING to experience the new and new-to-me technology in the gv60. I was literally squealing with joy yesterday trying out the highway driving features. duuuude. very exciting.

 

[EVsquatch]

I was ok with buying the GV60 because I plan to keep it for 15 years and buying saves me money in the long run. The range and charging speed will be sufficient even 15 years from now. Maybe we have more tolerance for outdated technologies. The car we had prior to the GV60 was a 2006 Honda Pilot which didn't have any cameras nor sensors

As long as the range of the GV60 suits your needs, then more power to you. Especially if you bought new (which I think you mentioned you did) and you are covered for the full 10 years 100,000 miles. Depreciation only matters if you need to get out of the vehicle (either because the range didn't suit your needs or you wanted to stay within warranty).

I hope that you get many trouble free and enjoyable miles out of your GV60.