Core Insights - Electric vehicles (EVs) depreciate significantly faster than gas-powered cars, with an average depreciation of 58.8% over five years compared to 45.6% for all vehicles [1][4] - The Honda Prologue, an electric SUV, has a projected depreciation of 49% after three years, with a resale value of approximately $29,701 [5][6] - The depreciation rates for various EV models vary, with the Jaguar I-PACE experiencing the highest average depreciation rate at 72.2% [5] Depreciation Factors - Rapid technological advancements in EVs, particularly in battery technology, contribute to faster depreciation as older models become outdated [6] - Concerns regarding battery life may also affect resale values, despite federal warranties of eight years or 100,000 miles for EVs [6] Financial Implications - The financial burden of car loans can lead to significant debt, as illustrated by a case where a couple owes $110,000 in car debt alone, alongside $62,000 in credit card debt [3][10] - Financial advisors recommend that monthly car expenses should not exceed 10% of monthly income to avoid becoming "car poor" [7][8] Recommendations for EV Buyers - Potential EV buyers should explore local or state incentives, as well as rebates from automakers, to mitigate costs [9] - Consideration of home charging installation costs and the availability of charging stations is crucial for prospective EV owners [10]

Core Points - Nissan is recalling over 19,000 vehicles in the US due to a potential fire risk associated with lithium-ion batteries during rapid charging [1][3] - The recall specifically affects certain 2021-2022 LEAF SUVs equipped with a "Level 3" quick-charge port, with an estimated 1% of the recalled vehicles, or 191 LEAFs, having the defect [1][3] - The lithium-ion batteries may have excessive lithium deposits, leading to increased electrical resistance and rapid heating, which poses a fire risk [3] Company Actions - Nissan advises owners to refrain from using the "Level 3" quick charge function until the vehicles can be serviced at a dealer, where battery software updates will be provided at no cost [4] - Notifications to vehicle owners regarding the safety risk are expected to be mailed on October 24, with follow-up communications once the fix is available [5] - The defective batteries were manufactured in Smyrna, Tennessee [5]