Anyone plan to keep their taycan long term (8+ years)?

[rich_r]

In the past, I've owned cars for 10+ years but the past few cars have been leases mostly because a) the lease terms were good b) They weren't cars that I felt strongly enough about to where I wanted to keep them long term c) the projected long term maintenance/repair costs made it such that it didn't really make sense to buy and hold them.

As is typical for Porsche, the lease terms (in the US atleast) are pretty bad. And, I've really fallen for the Taycan. Absolutely love the way it looks, feels and drives. It appears to be put together very well. The design is also quite elegant and timeless. Plus, as an EV it should have lower maintenance/repair costs over the long term (yes, I know there are issues now but i'm sure most of these teething issues will be sorted out during the warranty period). It's also quite expensive (from my perspective), so if I'm going to lose a lot of money in depreciation i'd prefer to amortize that over a longer period.

I'm actually not really a "gadget person", so the prospect of missing out on future tech features (including battery tech) that get introduced over a longer ownership period doesn't really bug me. The only things I can think of that would make me regret such a decision would be a) quirks or comfort issues with the car that eventually drive me nuts b) chronic reliability issues. Of course, those types of things can crop up with any car.

Just wanted to see if anyone else see things similarly and also just write out some thoughts I've been having on the subject. Sorry if this post was a bit rambling

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[kort]

I think what you are getting wrong is the speed of improvements, in my one month of ownership I've seen the RWD model and the tourismo variants come out. there is talk from porsche of a completely new battery tech on the horizon, things change rapidly in the EV world. I agree that the lease terms are far from spectacular for the taycan but porsche has never really offered great leasing schemes. that said when leasing you are shifting the risk that your early taycan will not be made functionally obsolete by newer better features in newer models. I think of EVs as I do IPhones, I never want to be more than a generation from the latest phone being offered. when you commit to long term ownership of a car like a taycan you are assuming a lot of risk for minimal rewards. in 3 years a newer better car will be available and if you own it you will take a massive depreciation hit, if you lease the car porsche takes the hit if it is more than the residual.
it is your money and only you know what is in your comfort zone.

 

[Kingske]

I actually tend to buy my cars outright and keep them for six to eight years before moving to the next one. That is why I bought my 2020 Taycan 4S as well. Yes, in the case of an EV some of the technology may become obsolete faster than with a more mature ICE car, but that is likely to have its main impact on the resale value which is something you really do not overly count on anyway after six to eight years. My only concern would be a dramatic improvement in battery technology already next year or the year thereafter, but I suppose I can then get a mid-life upgrade by swapping out the battery pack. Also, if the ecological aspect of an EV is of any importance to you, you should not treat your car as a disposable appliance.

 

[chrisk]

I would certainly buy a extended warranty if I was to keep Taycan after the original manufacturer warranty. The extended warranty should cover the big and small battery and electrical components like computer modules, converters and charging modules. Keep in mind that Indy shops are unlikely to repair electrical faults for this car and Porsche parts and dealer labor cost an arm and a leg.

I personally leased for 3 years and I will probably use the Porsche early return to return it as soon as 2 years and go for another one which hopefully will have less bugs by then, or wait for 3 years and the go for another brand if Porsche has not address the issues by then.

 

[Reg]

Although I get that batteries will improve a lot in the coming years, what I have now, even with some degradation is more than enough.

So my idea right now is to wait until 2030 or so to see if a hybrid with a solid-state battery 911 comes out.

 

[nicks-taycan]

It's also worth mentioning that the $7,500 tax credit is still valid for Porsches sold in the US, but only if you purchase/finance the vehicle. I've never been able to make the depreciation math work for a lease, so I buy outright and sell when I'm ready to move on.

 

[chrisk]

It's also worth mentioning that the $7,500 tax credit is still valid for Porsches sold in the US, but only if you purchase/finance the vehicle. I've never been able to make the depreciation math work for a lease, so I buy outright and sell when I'm ready to move on.

Even when you lease it is applied as a cap reduction which lowers your payments significantly.

 

[taycantom]

I keep my cars for the long run, preferably 10 years or more, and this will be no different. Technology is inevitably getting better all the time, especially with the industry finally moving to EVs which should spur innovation further. You just have to determine if the state of the technology at the time you buy is worth the money you are paying, and enjoy what you paid for. The driving experience will be just as good today as 5 or 10 years later, with maybe some very minor battery reduction (though maybe not, with the capacity held in reserve). New or better options that come on the market later won't have any effect on how a MY2020/2021 Taycan drives.

 

[struther]

I plan to keep for many years. I have had my GTR for 11 years and still love driving that every day. Sure, the internal technology is out of date but it is still a blast to drive. I expect the same from the Taycan even though other versions may have more advanced technology. By the way, GTR is now sold and the new owner picks it up Saturday. I will probably shed a tear or two.

 

[J0EL]

For resale value, would the charging log history from your charger connect or app be a part of resale value?
Someone who uses DC charge regularly
compared to someone who charges level 2 at home a few times a week

 

[rich_r]

Thanks for all the perspectives! Helps me to further flesh out my thinking on this.

I guess i'm not that worried about the "FOMO" of future tech that might appear within the next 7-10 years. Like some of you, I look at it from the perspective of "am I happy with the features, performance, comfort and looks" of the car as it stands today. Honestly, I dont think anything that comes out will be game changing or shocking within that time period. There will obviously be: ever larger/faster/higher resolution screens, augmented reality, better voice recognition, better driver assistance features, longer range batteries, and faster acceleration. I just don't care that much about any of those things to the point where I'd feel a burning need to trade-in my 3-5 year old car for the latest/greatest. After that point, the car has depreciated so much that you might as well just keep it. Would I be willing to pay ~$50k more for a longer range battery and some cooler tech in 3 years? No.

With some brands (BMW being the one that comes to mind), they heavily subsidize leases with artififcially high residuals and low interest rates. Combined with the fact that BMWs are very expensive to maintain and repair post-warranty it almost always makes sense to just lease. Porsche doesn't do that- and in fact, does the opposite (higher than market interest rates with leases), so I feel like I might as well just buy it. And if I'm buying it, I'm not going to throw away ~50% of the purchase price in 3 or 4 years by trading it in at that point. Might as well keep it unless it's super annoying. Plus, overall, Porsche has one of the best reputations for quality in the industry.

And, looking back at my previous car purchases it's the stuff that I could've purchased at the time but cheaped out on that I later regretted. With cars I considered but didn't buy it was due to lacking features that I wanted. At one point, I considered buying a Tesla Model S in 2013. At the time, the quality issues weren't well known but my issue was that the car just didn't have some of the features that I wanted at that price- adaptive cruise control was one of them. As it stands now, the Taycan is available with the features I care about so I think i'll be fine. And if I had bought a later Model S (let's say 2015) that adaptive cruise, it wouldn't have been the subsequent "improvements" that would've made me want to trade it in. If anything, it would've been poor quality, comfort and customer service. But, if I continue to enjoy the driving experience of the car and it's not becoming a nightmare to repair/maintain I'd just keep it.

Lastly, even Porsches that weren't well liked and are outdated by modern performance and tech standards seem to still be worth a surprising amount. As an example, a 2011 base Panamera still goes for mid-teens to low 20s. I'd be quite happy if my Taycan was worth that in 10 years. It's hard to imagine a Taycan being less desirable in 10 years than a 10 year old base Panamera is today. Overall there's less complexity and fewer moving parts in an EV so I do think they'll be cheaper/less trouble prone over the long term (after the initial kinks are worked out). There are plenty of Tesla Model S that have made it well past 100k (some well beyond that), and Tesla is not exactly known for their quality. Porsche will do much better.

 

[jimithing]

Thanks for all the perspectives! Helps me to further flesh out my thinking on this.

I guess i'm not that worried about the "FOMO" of future tech that might appear within the next 7-10 years. Like some of you, I look at it from the perspective of "am I happy with the features, performance, comfort and looks" of the car as it stands today. Honestly, I dont think anything that comes out will be game changing or shocking within that time period. There will obviously be: ever larger/faster/higher resolution screens, augmented reality, better voice recognition, better driver assistance features, longer range batteries, and faster acceleration. I just don't care that much about any of those things to the point where I'd feel a burning need to trade-in my 3-5 year old car for the latest/greatest. After that point, the car has depreciated so much that you might as well just keep it. Would I be willing to pay ~$50k more for a longer range battery and some cooler tech in 3 years? No.

With some brands (BMW being the one that comes to mind), they heavily subsidize leases with artififcially high residuals and low interest rates. Combined with the fact that BMWs are very expensive to maintain and repair post-warranty it almost always makes sense to just lease. Porsche doesn't do that- and in fact, does the opposite (higher than market interest rates with leases), so I feel like I might as well just buy it. And if I'm buying it, I'm not going to throw away ~50% of the purchase price in 3 or 4 years by trading it in at that point. Might as well keep it unless it's super annoying. Plus, overall, Porsche has one of the best reputations for quality in the industry.

And, looking back at my previous car purchases it's the stuff that I could've purchased at the time but cheaped out on that I later regretted. With cars I considered but didn't buy it was due to lacking features that I wanted. At one point, I considered buying a Tesla Model S in 2013. At the time, the quality issues weren't well known but my issue was that the car just didn't have some of the features that I wanted at that price- adaptive cruise control was one of them. As it stands now, the Taycan is available with the features I care about so I think i'll be fine. And if I had bought a later Model S (let's say 2015) that adaptive cruise, it wouldn't have been the subsequent "improvements" that would've made me want to trade it in. If anything, it would've been poor quality, comfort and customer service. But, if I continue to enjoy the driving experience of the car and it's not becoming a nightmare to repair/maintain I'd just keep it.

Lastly, even Porsches that weren't well liked and are outdated by modern performance and tech standards seem to still be worth a surprising amount. As an example, a 2011 base Panamera still goes for mid-teens to low 20s. I'd be quite happy if my Taycan was worth that in 10 years. It's hard to imagine a Taycan being less desirable in 10 years than a 10 year old base Panamera is today. Overall there's less complexity and fewer moving parts in an EV so I do think they'll be cheaper/less trouble prone over the long term (after the initial kinks are worked out). There are plenty of Tesla Model S that have made it well past 100k (some well beyond that), and Tesla is not exactly known for their quality. Porsche will do much better.

I'm planning on a soul-crushing level of depreciation based on the horrible lease residuals and my lack of restraint with the options list. Making peace with it now & won't worry about it after delivery. If you're talking 10+ years out, it's possible the Taycan will become desirable as Porsche's first modern electric car but I'm not counting on it. Fretting about future battery tech is a bit silly. Solid state battery tech has been "two years away" for over 30 years. I'm not even convinced that BEVs are the long-term technology winner. I'm buying a Taycan because the Taycan is awesome & that's all it needs to be for me.

My dealer called today and said they're hoping to have it Saturday (currently at the port, which is only 20 miles from the dealer).

 

[faroutinNM]

I'm planning on a soul-crushing level of depreciation based on the horrible lease residuals and my lack of restraint with the options list. Making peace with it now & won't worry about it after delivery. If you're talking 10+ years out, it's possible the Taycan will become desirable as Porsche's first modern electric car but I'm not counting on it. Fretting about future battery tech is a bit silly. Solid state battery tech has been "two years away" for over 30 years. I'm not even convinced that BEVs are the long-term technology winner. I'm buying a Taycan because the Taycan is awesome & that's all it needs to be for me.

My dealer called today and said they're hoping to have it Saturday (currently at the port, which is only 20 miles from the dealer).

That's all pretty much where I'm at with this purchase. I'm fully prepared to part with the whole amount in the end.

Mine's on the good ship Goodwood, anchored off Jacksonville, getting ready to go around the Florida peninsula, across the Gulf to Houston, and finally across the "Whole 'Nuther Country" of Texas to Albuquerque Porsche. So, probably at least 2 April before I see it.

Cheers.

 

[Taycan24]

When I bought my 2013 P85+ Model S Cert Pre-Owned 4 years ago I thought I would have it 10+ years easy. Then TWO battery failures later (Yes, two) I knew I had to let it go before the 8-year battery warranty was up.

Luckily, the base Taycan came around at perfect timing, and while I do not take delivery for a few months, I fully expect battery anxiety will kick in around year 7 (or if I begin to approach 100k miles) and I will sell before the warranty expires.

Looking forward to (hopefully) a smooth next 7ish years, though!

 

[Yves_0016]

I tend to agree with most people in this topic. At some point enough is enough. And that point has come now for me. At 47 years old and with the purchase of ly first new Porsche I'm stopping the money slurping changing cars every 24 months or so. I'm sticking with this car for 6 to 8 years.

The car is great and works for me. It will also still be a beautifull looking and fast car in 5 years time. And yes, EV tech will evolve, but let's not exagerate, it's not because Elon tweets something to raise Tesla stock value before his yearly bonus calculation that "half the weight, double the capacity" batteries are just around the corner.

The Taycan will remain a creat car and who knows, might indeed become desirable as the first car of a new era.

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