Let’s talk about depreciation (UK)!

[simcity]

Gosh it’s such a depressing topic at the best of times. Let alone now. It’s a bear market out there for used EVs of any badge.

I’ll leave you guys to it….and live in blissful ignorance. For the time being anyway

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[tez1]

I’m not sweating it. Prices will also settle down too. I can’t see anything that is going to depreciate the cars by a massive amount until at least 2026+, given current battery lifecycles and development. I am enjoying the car very much though!

my car has dropped by £44,850 its seven months old and 2,500 miles

 

[WuffvonTrips]

my car has dropped by £44,850 its seven months old and 2,500 miles

What's the current valuation?

 

[kempez]

my car has dropped by £44,850 its seven months old and 2,500 miles

now is not the time to sell it. I shall not be looking until I am actually gonna sell it. Not sure where you got the valuation, but Webuyanycar is also not the place to value your car the market was a huge bubble. That’s popped and so selling now would be very silly

 

[Gnasher]

I was offered £94k on my £110k 4S when i got the GTS allocation - 6 month old car with 3000 miles on it…i obviously declined the allocation and I’ll keep my car for a few years now at least. A few months previously i think i would have got closer to what i paid for it.

It’s definitely not the time to sell an EV Especially with falling fuel prices.

 

[f1eng]

There is more and more information that announces life of battery are much higher than those announced.

This seems to be the case in general.
My daughter still runs a 2005 Prius which still has its original traction battery, though it has had several 12`v lead-acid auxiliary batteries.
The Porsche battery pack also looks like it was designed for service, so cells can be changed thereby retaining the expensive mechanical and structural parts of the pack.

 

[simcity]

The Porsche battery pack also looks like it was designed for service, so cells can be changed thereby retaining the expensive mechanical and structural parts of the pack.

I hope never to have to test that , though it sounds like a more serviceable option than something like Tesla's 'monolithic' pack design - though again to be fair my experience with a coming up to 6 year old pack is minimal long term battery degradation around 6.8% loss since new with around 85K miles.

Battery tech and packaging certainly getting better and better.

 

[tez1]

now is not the time to sell it. I shall not be looking until I am actually gonna sell it. Not sure where you got the valuation, but Webuyanycar is also not the place to value your car the market was a huge bubble. That’s popped and so selling now would be very silly

Is it not the case that the longer you wait the more it drops? Most cars of this price are bought new by company directors for tax breaks etc, not sure where the market is in this country for used £100,000+ electric cars.

 

[tez1]

What's the current valuation?

£82,500

 

[WuffvonTrips]

£82,500

I might be wrong as I'm not aware of a comparable figure for a lightly optioned 4S, but I think the large loss you are seeing is primarily due to you having what I deduce is around £40k of options (assuming you didn't buy used when dealers were demanding a large premium), which sadly do not generally add much to resale value once you drive it away from the dealers.
If that is the case, then £82,500 isn't bad compared with the current £86.500 base for a 4S.
The only good news is that the longer you keep it, the less of a % impact they'll have on eventual resale.

 

[tez1]

No dealers are taking used high-end electric cars, try calling any of them for a valuation—zero interest.

 

[f1eng]

If I like a car I keep it at least 6 years.
By then if I get much for it at all it seems like a win!

 

[tez1]

If I like a car I keep it at least 6 years.
By then if I get much for it at all it seems like a win!

What if you don't like it after its constant fails?

 

[f1eng]

What if you don't like it after its constant fails?

I take the hit and get rid of it, life is too short for money to be that important.

Luckily for me I haven't yet owned an unreliable car in the almost 50 years since I bought my first new car.
The only car I got rid of, and took the hit, I just couldn't get comfortable in.
The sporty seat looked wonderful but gave me backache if I went more than 50 miles and the climate control had been programmed by somebody with very different taste to mine - I never found a setting which gave fresh air to my head whilst keeping the windscreen clear in winter.

As a car it was fine, good even, and reliable but intolerable for me to to travel in.

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