Electric cars Depreciation

H

hobblewobble

Well-known member
Some of you must be feeling this now ,all that money you have saved in petrol/diesel costs has evaporated with the price at 2 years, 3 years old.
Jaguar,Fiat, Citroen, Vauxhall,Mazda and others.
I would have bought one but cannot have a home charger.
 
I don't have one, don't drive even but I work with a guy who spent £30000 + on one 2 years ago, I honestly don't think he cares about the deprecation, for him it's more about what his principles are about.
 
Not really, I bought mine second hand, less than a year old with less than 2000 miles on the clock for less than a second hand ICE equivalent vehicle with higher mileage. I expect we will keep it for 3/4 years before we look to replace it. It's currently costing me £4 for a 220 mile range and VED free, whats not to like?
 
I suppose that depends if you want to sell it after 3 years. If I bought a car brand new I probably would not want to sell it in 2-3 years because that is where depreciation gets you as any car will lose value the second you get it. I'd want to get decent use out of it.

My last car is a 2008 ford focus and I've been driving it since it was a year old. My partner just took out a lease on a jaguar which doesn't cost a huge sum of money compared to any other option. We could have bought one for about 23k but it wouldn't have been as high spec, and then we'd have to insure it, maintain it, be on the hook for repairs etc. It's brand new, includes insurance and servicing. Knowing its pretty much thought free is fairly chill. The car's RRP is £78k at that spec and we'd never be spending that on a car, but if we were to finance a £23k car the payments would be the same - of course we would then own the car, but again...be liable for everything with it - this also allows us to see how battery tech ages and more models come to market etc. Similar to the focus I'd probably drive any car we bought until it stops being cost effective to do so.

As it stands, its hard for me to get in the focus now - with the cost to "fill up" often being a few pounds instead of giving change from £100, plus a much nicer drive.

Anyways, anyone paying full price for brand new cars that are £50-90k probably doesn't care about depreciation too much, and the rest are probably lease cars. I'll potentially look at something like a Kia EV6 when my focus eventually conks out.
 
Bought my Tesla through my business. Depreciate at 10K/year over 5 years. Offsets as a business cost against tax. Barely any benefit in kind tax as it’s fully electric. So the depreciating value of the vehicle really doesn’t bother me
 
SmallTown said:
Cars depreciate? Well blow me, I expected it to be an investment :ROFLMAO::ROFLMAO::ROFLMAO:
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Nobody was expecting them to drop by as much as they have you can have a Mokka e a year old for £15500 that's a hefty loss not seen on ice cars.
If you can afford that and laugh you have too much money.
 
hobblewobble said:
Nobody was expecting them to drop by as much as they have you can have a Mokka e a year old for £15500 that's a hefty loss not seen on ice cars.
If you can afford that and laugh you have too much money.
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Supply and demand, the costs of new will decrease relative to ice and the depreciation will reduce and normalise
 
hobblewobble said:
Nobody was expecting them to drop by as much as they have you can have a Mokka e a year old for £15500 that's a hefty loss not seen on ice cars.
If you can afford that and laugh you have too much money.
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If you can afford a new car you have you much money.
Jsut to counter the misinformation: my last ICE car depreciated by more than that in a year.

This is one pf the new lines of anti EV misinformation we have to cope with. People using "negatives" that's also apply to ICE cars but ignoring that
 
It is one that amuses me though. The same people who use the "EV are too expensive" line also use the "check put the deprecation" line.

Meaning used EV are too cheap?

Only in the anti EV fud world can something be simultaneously top expensive and too cheap 🤣🤣🤣
 
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I'm sure this has been mentioned on here before by someone else but for EV cars to become more widespread across society you need a healthy 2nd hand market, this will be the way, you are more likely to see now more widespread support services( charging areas etc), the OP is probably having a dig but funnily enough this is the way EV use becomes more of a norm.
 
exeterboro said:
I'm sure this has been mentioned on here before by someone else but for EV cars to become more widespread across society you need a healthy 2nd hand market, this will be the way, you are more likely to see now more widespread support services( charging areas etc), the OP is probably having a dig but funnily enough this is the way EV use becomes more of a norm.
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Exactly. It isn't the "Gotcha" he thinks it is.
 
I have one it's on salary sacrifice so the depreciation doesn't bother me. It was listed at £43k new 16 months ago. Out of interest I got a WBAC valuation £20,750 yet to buy one on Autotrader is £29k that's a hell of a markup. I think the motor industry is trying it on somewhere. Not sure if it clawing back money or trying to influence pricing. It's a bit of a closed shop now with BCA dictating prices.
 
Block_4_Eastender said:
I have one it's on salary sacrifice so the depreciation doesn't bother me. It was listed at £43k new 16 months ago. Out of interest I got a WBAC valuation £20,750 yet to buy one on Autotrader is £29k that's a hell of a markup. I think the motor industry is trying it on somewhere. Not sure if it clawing back money or trying to influence pricing. It's a bit of a closed shop now with BCA dictating prices.
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I imagine with the two biggest EV makers, BYD and Tesla feeling the worldwide slump in New vehicle sales (not just EV) there will soon be a price war. Good
 
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