Posted on 03/19/2025 6:23:22 AM PDT by V_TWIN
Tesla drivers are being slapped with eye-watering extra charges to park their cars in private garages across NYC with “luxury” or “exotic” surcharges for certain models, sources told The Post.
The biggest parking garage management companies in the Big Apple charge drivers hundreds of dollars for monthly parking — but those who drive luxury, electric or oversized cars are increasingly subject to surcharges that can cost them up to an additional $1,000 per month.
And that doesn’t even include charging the batteries!
Wynne Parking President Kyle Halperin told The Post that the surcharge was really about covering insurance costs and described it as part of “a risk analysis”.
According to him, that’s why it is applied to some non-luxury cars, such as Teslas.
“There’s an industry wide standard for multiple garage management companies where [applying the surcharge] is based on things that affect insurance such as the value and weight — Tesla batteries weigh more,” than ordinary car batteries, he said.
“The luxury expense for a parking garage is focused on insurance costs and the amount of space that is required to protect a vehicle from any kind of significant or insignificant damage.
“So if a parking garage is paying additional insurance because it regularly houses a car worth $500k, the threshold for insurance is greater than it is if insuring a $50k car.”
(Excerpt) Read more at nypost.com ...
I am 63 and I simply not buying a new car anymore. I can’t pay cash and I don’t want to make $800+ payments for 7 or more years...
In the 1930’s it got to the point where you could buy a car for pocket change. It won’t get quite that bad, but I expect the prices to go VERY low. There are literally thousands of cars in repo lots waiting for the banks to let them go for whatever they’ll bring. The banks don’t want to write down the loss so it’s just sitting there, and the cars are deteriorating.
A repo lot opened in January near my gym. This morning it looked full.
Right now, I have never seen used cars at such a high price. I bought plenty of very used cars till I was over 40 at $200-$500 running.
I know there has been inflation but used cars when you are buying are way higher than I would ever pay.
But try to sell an older used car and they offer you next to nothing. My 2005 Saturn Vue was valued at less than $2000.
I’ll keep it forever then.
All the money in the world is called the M2. Obama double it and then doubled it again. Then they added 87 billion of quantitative easing each month for his whole presidency. It took long time for that money to appear at our level, where we buy groceries and used cars. As I mentioned banks are holding their inventory of seized vehicles off the market because if they sell them, the book value goes from loan value to real value, which is nothing.
Also, cars built in the last decade are virtually unrepairable. The pick and pull near my house has several rows of high-end cars so it looks like a Mercedes used car lot. They look fantastic. This one needs an engine at $15,000. That one needs a transmission at $12,000. All of them need a computer or two or three. Those run about two grand. They’re used and you don’t get your money back if they don’t work, or the diagnosis now goes one step further and calls for yet another computer.
A cheap used car of yesteryear could be repaired. Today, the cost and availability of parts mean they can’t be repaired.
When I was 20, my good car died and I need a car. My parents had bought me the good car and I didn’t have the money or credit to but even a $1000 car.
I bought one for $200 cash. It was a piece of crap and looks like $hit but it got me to and from work. The average car payment back then was $200-$350. They thought I was stupid for my cheap car. I thought they were stupid with 3 years of car payments.
Then I found around car for $200. Two years later I had 6 cars and the most expensive was $350. None of them were good for long trips but they got me to work and running around the city. I knew I would always have at least one that was working.
This lasted till I got married at 26 and scaled down to 3 cars, then to 2 cars. After I passed 40 years old, I finally got a decent car as I wanted something more reliable.
People made fun of me, but you never heard me say I couldn’t get to work because of car trouble. And if one of them died, I called the junkyard and they paid me $75 and towed it off (after I took the good battery out and swapped with a dead battery).
These were all the same model, so you could swap the plate and insurance? I did know someone who did that. (I want to say it was some tiny Italian car that came in either a twelve-horse model or a supercharged beast, but they all looked alike.) I do have several cars but to have them all licensed and insured would be ruinous.
No they were all different and I didn’t have insurance. I was young and stupid about that then.
I bet they are really old parking structures. Maintenance is expensive.
But they are cash cows.
The Super Walmart parking lot near me looks like a luxury car lot.
I haven’t been to a Walmart lately, but when times got tough I remember seeing plenty of luxury cars in the big box store parking lots. I don’t see many now because a COSTCO recently opened up..
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