- You can get a great deal on a 2023 Subaru Solterra through Hertz right now.
- Some examples are going for less than $20,000.
- There's a lot to like about the Solterra, but some may find its range and charging performance lacking.
Rental car giant Hertz’s big bet on electric vehicles hasn’t quite gone to plan. For a number of reasons, including worse-than-expected depreciation of its electric fleet, the company has been selling off EVs like mad.
Plummeting resale values are very bad for a company like Hertz, which has huge amounts of capital tied up in depreciating assets: its cars. But that same depreciation can be a boon for anybody in the market for a used EV. New electric cars are expensive, by and large. But if you’re down to buy secondhand, Hertz’s loss can easily become your gain.
We’ve highlighted a number of screaming deals on former Hertz EVs in the past, including Tesla Model 3s, Volvo C40 Recharge crossovers and, most recently, Chevy Silverado EV pickups. Another one has caught our eye: the Subaru Solterra, a crossover that’s the brand’s sole EV offering.
The Hertz Car Sales website shows 27 Solterras from the 2023 model year for sale across the country, with many listed for less than half of their new MSRP.
Now, the Solterra is not the most exciting or impressive EV you can buy—more on that below—but it’s a compelling option at the right price. And some of these deals are just too good to ignore.
As of this writing, the cheapest one is a $16,837 entry-trim Solterra Premium with 51,636 miles on it. Five are listed for around $20,000 or less. Granted, those all have a decent amount of mileage, especially for vehicles that are at most a couple of years old.
Many are listed in the low-to-mid-$20,000 range. There’s one for $21,584 with just 14,682 miles. There’s a Solterra Limited, the middle of the three trims, for $23,553 with 34,048 miles. Extend your budget just a bit higher, and the deals get even juicier. There’s a Solterra Limited with just over 7,000 miles on the odometer listed for $27,000 in Oklahoma City.
Just compare that to what a new Solterra would cost you, including destination fees:
- Solterra Premium: $46,340
- Solterra Limited: $49,840
Brand-new, the Solterra is pricier than some more popular, well-rounded rivals, like the Hyundai Ioniq 5 ($43,195), Ford Mustang Mach-E ($41,990) and Kia EV6 ($43,975). However, the Solterra does come standard with all-wheel drive, which is optional on those cars. And getting roughly 50% off through Hertz totally changes the equation.
Why Are EVs Depreciating So Quickly?
There are many factors likely at play here driving down the prices of used EVs. The rapid-fire price cuts Tesla implemented throughout 2023 had a trickle-down impact on used Teslas and on the rest of the EV market. Electric car demand overall simply isn’t as fierce as it once was, given the public’s concerns around charging and range. Attractive leasing deals and prices on new cars—due to generous manufacturer incentives and the federal EV tax credit—may also be depressing used prices.
Meanwhile, research has shown that EVs with higher range tend to hold value better than lower-range models.
Should You Buy A Used Solterra From Hertz?
And that brings us to the Solterra itself. I tested one recently and think it can be a good choice, particularly at these fire-sale prices. But you should know the pros and cons before taking the plunge.
Much like the Toyota bZ4X it shares almost everything with, the Solterra isn’t the most high-tech or thoughtful EV on the market. Its specs are fine, but not great. All-important range comes in at an EPA-estimated 222 or 228 miles for 2023 models, which is near the lower end of what you can find. Many these days offer 300 miles and up.
DC fast charging takes roughly an hour from a low charge to 80% on 2023 models, due in part to the Solterra’s lackluster max charge rate of 100 kW. (For 2024 models, Subaru has sped things up and now claims 10%-80% in 35 minutes.) Compare that to something like a Hyundai Ioniq 5, which can do that in 18 minutes and offers more range.
There’s no shortcut to searching for charging stations in the navigation, which many EVs have. When you route somewhere, the car doesn’t indicate the range or state of charge you’ll have upon arrival, which is another missed opportunity. Its digital user experience lags behind the industry leaders.
Still, I enjoyed the 2024 Solterra for the competent, no-frills EV it is. It’s a nice size. It’s comfortable. It even came with a hands-free driver-assist feature for heavy traffic.
I like the design of the interior, too. There are plenty of physical buttons, which are becoming a rarity. Its digital gauge cluster may be low-res and limited compared to some flashier EVs. But its positioning—up above the steering wheel and pushed back toward the windshield—means that you have a refreshingly clear view of it. Plus, the Solterra is said to offer some off-road capability, but I didn't get to try that out for myself.
And, despite the range and charging deficiencies, if you charge at home and drive like the typical American (that is, only a few dozen miles a day) the Solterra could fit your lifestyle quite nicely. Especially when you factor in a screaming deal like the ones on offer from Hertz right now. Whether the price is right is up to you.
Contact the author: tim.levin@insideevs.com
