As Fisker inches closer to the financial abyss, prices for used Karmas have tumbled to less than $50,000 which is nearly half of what they originally sold for.
The news is doubly painful for some Karma owners as a handful of them were early investors who poured millions of dollars into the company. As dealer Bill Michlin explained, some investors are dumping their cars because it reminds them they lost "a hell of a lot of money" by betting on Fisker.
Even new Karmas are being discounted as Suburban Exotic Motor Cars of Michigan has about five models in stock that are priced between $89,900 and $94,900. While this is still relatively expensive, some of the cars originally had an MSRP of $107,850.