Mind-blowing values/depreciation

[tophamn]

Hiring a car is never a great idea.
You'll still loose tons of money AND you don't have a car after three years...

The advantage of leasing is you know up-front what the limit of your liability (loss) will be. Buying outright means you're gambling on the future value, assuming you intend to sell at some point.

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[cheeg]

Hiring a car is never a great idea.
You'll still loose tons of money AND you don't have a car after three years...

I’ve done both. I think leasing is ok when you have a steady salary, want a smaller monthly payment, and want to be in the newest cars every few years. It’s probably not the best pure financial decision but it does avoid many of the hassles of ownership. It also potentially allows you to get into a nicer car than you’d otherwise afford.

But to me this Taycan depreciation is borderline surreal. These cars seem far better value than anything else in the $40-60K range.

Maintenance costs are obviously much higher and there’s the worry about battery and tech issues, but even then the depreciation is so high I think it more than makes up for this stuff.

It almost seems too good to be true, like I’m missing some obvious issue that is keeping everyone in the BMW Merc Audi price range from buying a Taycan instead…

I mean even new Hondas/Fords/Toyotas get up to that price these days. Strange.

 

[Dee]

assuming you intend to sell at some point.

As long as you don't sell it, you won't have any depreciation.
So I don't sell it.
Frankly, I really don't know what to buy next, it's such a great car, already 5 years and still, when I walk away, I turn around to look at it.

What depreciation? ?

 

[tgreen7163]

Just signed up to say I’ve been watching these prices come down and I’ve loved the car since the release. Today I just purchased for this 22’ Taycan with 3k miles! For 62k, sticker was 111k. Just couldn’t resist especially with 10 months of factory warranty left

 

[Fish Fingers]

50% is broadly where Panameras are here. Maybe a bit more.

6-figure, non-limited edition sports saloons are all impacted heavily one way or another. Regardless of drive train.

Taycans were impacted hard due to other double whammies due to their timing of release...new shiny demand ramp up, supply issues due to Covid and Ukraine, Porsche then not managing the supply side thinking the demand side over that period was different to what it actually was etc.

That depreciation curve will flatten out massively IMO. Though ultimately I don't care... I usually keep cars a while. Don't see this being any different.

Allegedly they are getting it under control for J1.2. Not entirely convinced, but we'll see.

They also have to contend with "all but recessions" in key markets now. The market for 6-figure sports saloons is tight. They are being helped by tax incentives here (that should never have been available)... They will dry up soon and I think Porsche will struggle again. Not "because EV"... "because expensive sports saloon".

There is also the difficulty and ridiculous time waits getting a Taycan into the dealers for (frequent) service work in the UK.

 

[BjörnfromHamburg]

Just signed up to say I’ve been watching these prices come down and I’ve loved the car since the release. Today I just purchased for this 22’ Taycan with 3k miles! For 62k, sticker was 111k. Just couldn’t resist especially with 10 months of factory warranty left

Congrats to the car!
Definitely think about Porsche warranty afterwards.
Technical issues hit hard.
Remember to get warranty in time, otherwise you'd have to have a new check-up by Porsche.

 

[Throb]

Hiring a car is never a great idea.
You'll still loose tons of money AND you don't have a car after three years...

If I pay cash for a car then sell it 36 months later, I still lose tons of money, and I still don't have a car after three years.

 

[Murph7355]

There is also the difficulty and ridiculous time waits getting a Taycan into the dealers for (frequent) service work in the UK.

Certainly doesn't help.

I've been fortunate... Great dealer who coordinated visits to ensure a few recalls got done at once. Appreciate others have had nightmares.

 

[whitex]

Oh well, it was very expensive and full of options Is probably don't need.

Nobody NEEDS a Taycan. People buy them because they WANT them. Same goes for options. Buy the car you want with options you want which fits in your budget. Nothing spoils car ownership more than spending more than you can afford on it. If you're looking for lowest depreciation, research cars with lowest depreciation, but I can tell you up front that Porsche is not the brand famous for low depreciation - most of the time 4 year depreciation on a Porsche will be greater than a full price of some new cars (which will not depreciate 100% in 4 years either).

 

[whitex]

Depends on the Porsche lease details. Monthly rates may be offered such that Porsche pre-eats some expected depreciation in order to move more metal.

Leases also have higher interest rates than purchase, so an additional cost both on depreciation and residual value (since you pay interest on both). If there are subsidized residuals (Porsche gives you a higher residual than they believe it will be worth) or lease interests are subsidized, you can come ahead, but that happens very rarely. I always compared lease vs. buy for all cars I've bought over the years, lease turned out to be overall cheaper very few times. That included when I used to swap cars every 2 years, or today, where I keep them 4-8 years. The only times lease won out was when there was a subsidized residual or subsidized interest rate, with no equivalent discount for purchase available. Oh, and also when there were government incentives in the US only available for leasing EV's - I leased a car and paid it off less than a month later in order to capture such incentive once.

 

[Fish Fingers]

So, from a different angle........

Are we seeing the bottom of the used EV market?

The new EV market sales (exc Tesla whose are woeful) in Europe are really impressive:

Feb 25 (Reuters) - Sales of fully electric car sales In Europe were up 37.3% in January, industry data showed on Tuesday, although the sharp rise was not enough to compensate for a drop in petrol and diesel vehicles, leaving overall sales down by 2.1%.

That means more new buyers are being won over by the EV argument.
Surely it stands to reason that the used market will follow suit, as more people become familiar with them and aren't frightened of buying one?

The crash should never happened in the first place imo.
Mostly propaganda from the oil companies we hear spouted day in, day out.
The used market is bargain basement currently.

 

[Cappo]

Just signed up to say I’ve been watching these prices come down and I’ve loved the car since the release. Today I just purchased for this 22’ Taycan with 3k miles! For 62k, sticker was 111k. Just couldn’t resist especially with 10 months of factory warranty left

Congrats buddy. Great move. Looks awesome

 

[tophamn]

There is also the difficulty and ridiculous time waits getting a Taycan into the dealers for (frequent) service work in the UK.

It seems to me that this issue is very much dealer dependent. My local OPC has been brilliant and always has a Porsche loan car available.

 

[4sCT21]

As long as you don't sell it, you won't have any depreciation.
So I don't sell it.
Frankly, I really don't know what to buy next, it's such a great car, already 5 years and still, when I walk away, I turn around to look at it.

What depreciation? ?

My word that is sexy ?

 

[Dee]

If I pay cash for a car then sell it 36 months later, I still lose tons of money, and I still don't have a car after three years.

Like I said before: don't sell it then. ?

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