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Discussion Starter · #1 ·
I tried to trade our car over the weekend with a high-end franchised dealer. They worked their butts off trying to find a whole-buyer; at any price. None could be found. Even the dealer who sold us the car, and is still a Fisker dealer, was not willing to write a check for the car---at any price.

They were not able to buy the car themselves because their business insurance company said they could not insure a Fisker on their showroom/lot. They called their bank and they said they will not floor plan it. They called their preferred lender and they said they will not write a consumer loan on the Fisker's.

So.... good luck selling these!

That's the final straw for me.

Bill
 

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I tried to trade our car over the weekend with a high-end franchised dealer. They worked their butts off trying to find a whole-buyer; at any price. None could be found. Even the dealer who sold us the car, and is still a Fisker dealer, was not willing to write a check for the car---at any price.

They were not able to buy the car themselves because their business insurance company said they could not insure a Fisker on their showroom/lot. They called their bank and they said they will not floor plan it. They called their preferred lender and they said they will not write a consumer loan on the Fisker's.
I guess you are referring to a lack of market for wholesalers at any price, there are certainly consumer customers (though that market is in the $50s). As of 2 weeks ago, Progressive insurance gave me a consumer policy, and Wells Fargo gave me a consumer loan. If wholesalers are in a different boat it would explain the fire sale of inventory.

Is this a situation like in "It's a Wonderful Life" where your car is worth more dead (as an insurance claim) then alive?
 

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I guess you are referring to a lack of market for wholesalers at any price, there are certainly consumer customers (though that market is in the $50s). As of 2 weeks ago, Progressive insurance gave me a consumer policy, and Wells Fargo gave me a consumer loan. If wholesalers are in a different boat it would explain the fire sale of inventory.

Is this a situation like in "It's a Wonderful Life" where your car is worth more dead (as an insurance claim) then alive?
The car is probably worth considerably more as a collection of spare parts than a working car. Maybe you can do a deal with Hybrid Support or Lormax to sell it as a donor car.
 

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Bill,

That sounds like a nightmare scenario. I traded in my Karma on March 30 and the dealer was able to find a wholesaler to purchase it...I guess the ensuing 12 weeks have eliminated that option, too. Perhaps you try another dealer.

Buck
 

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I tried to trade our car over the weekend with a high-end franchised dealer. They worked their butts off trying to find a whole-buyer; at any price. None could be found. Even the dealer who sold us the car, and is still a Fisker dealer, was not willing to write a check for the car---at any price.

They were not able to buy the car themselves because their business insurance company said they could not insure a Fisker on their showroom/lot. They called their bank and they said they will not floor plan it. They called their preferred lender and they said they will not write a consumer loan on the Fisker's.

So.... good luck selling these!

That's the final straw for me.

Bill
Bill

Where are you located? I can offer you a cash bid - PM me the details of your Karma.
 

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Call Frank Kent Fisker in Ft. Worth, Texas. They are still dealing Karmas. Maybe they will take it off your hands. BTW, when you say "at any price" what do you mean. I'm sure somebody would write you a check for say $20K today.
 

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Wow, we did what the dealer couldn't do. Two firm offers in the high twenties within 20 minutes. I have a feeling you can sell your car today.
 

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Discussion Starter · #10 ·
We're not selling at "any price".

That's just what the dealer reported back.

I've found a wholesaler who will pay $55k. Still too low for me sell.

Bill
 

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Discussion Starter · #11 · (Edited)
On a similar note, owners of Rolls Royce are getting hammered too. The dealer is offering $80,000 rebates, plus selling at invoice. Buying a $460k car for $350k new.

The dealer has a 2012 that he took on trade and paid $185k. What a deal.

Bill
 

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I just refi-ed my Karma after a year for $70k for 48 months. Dropped my payment from $1772 to $1510 a month and I will save a couple of hundred in interest over the life of the loan. Went from 2.49% to 1.74%. My insurance has seen no significant rise for the Karma, roughly $667 every six months for a 42 yr old, single male, with an excellent driving record in Huntsville, Alabama.
 

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Karma Financing Option

Have a less than desirable rate on your EV loan? Call Jon K. at USAlliance FCU. They are offering 1.39% APR for terms up to 60-months and 1.89% for 72 and 84-month terms. These rates are good for a purchase or refinance of a new or used EV. You can email him at [email protected].
 
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