Taycan Depreciation

[Ross]

I have been driving a Taycan since November 2020.

The first one a 4S saloon.
Purchase price £90,000
Sold after 18 months to
Webuyanycar. £96,000

The second one. GTS saloon
May 2022
Purchase price £111,000
Valuation today after 18 months

Bit of a difference.
Up 6
Down 50
Some you win…..

Still owe £75,000 on finance.
But have a Guaranteed Future Value of £71,000 next May 2024.
6 months free motoring!

I think I will be handing it back..?
Assuming the value doesn’t rise from £61,000.

Interestingly if I buy a new Taycan Porsche will settle the finance and give me a discount but with interest rates at 11.9% the same (ish) car will be £2000 a month instead of £1000.
And I will be owning another car that depreciates like it has been pushed off a cliff.
My next car might not be a Porsche.
It will still be electric (I am still of sound mind - just)
It will just cost £20,000 not £110,000!

Sponsored

 

[Dabz]

Seems fairly normal depreciation to me. Your first one was subject to a very strange period of time that’s unlikely to ever be repeated.

110k car worth about half after a few years is about right

 

[Archimedes]

My ‘22 had a sticker of $142.5, but with tax credits, it cost me about $135k. I assumed 17% depreciation for each of the first three years. So, today, at the two year point, I assumed it would be worth $89k. I priced it aggressively to sell at $85k and have a buyer (and 2-3 backups interested). I could probably have gotten $89k if I was more patient, but my time is worth more than a few $k. Taycan depreciation seems pretty normal to me.

 

[FlyingPoint]

.... a very strange period of time that’s unlikely to ever be repeated.

From your mouth to whatever god's ears you follow. I will take depreciation over disease, happily.

 

[pedroleumjelly]

Hmm I’m glad I leased

 

[RKZ]

Seems fairly normal depreciation to me. Your first one was subject to a very strange period of time that’s unlikely to ever be repeated.

110k car worth about half after a few years is about right

Lamentably, correct. I've been on both sides of the coin. Previous Porsche was a CPO Panamera GTS. Benefitted from previous owner who took the depreciation. Ordered and bought a '23 Taycan 4S. Depreciation all on me. Figure on average I'm about right. Huge fan of both cars and will undoubtedly love the next one. And that will mark the big decision. Do I repeat what I did the first time or the second time? It'll be fun to decide.

 

[WasserGKuehlt]

I just can't begin to understand how a person can have an aversion to both keeping a car for a length of time and losing money on it. I have heard "you only pay for your first Ferrari", but never about Porsche (or any other brand) - they just keep making more of these cars every day.

 

[stoneunhenged]

I actually bought a Taycan because of the hyper-depreciation. I found it to be an excellent deal to buy a $210,000 car for $129,000 with 150 miles on the odometer. I'm thrilled with the purchase.

 

[kempez]

The first calculation is wrong on your story, assuming you bought new. Ignoring the first freak sale/period of ridiculous secondhand values which is unlikely to ever happen again...the car you bought had lost 20% of it's value straight away in VAT to our wonderful government. My terrible maths leads me to this being about £91k or something. So 18 months you have lost ~£30k and the market is depreciated at the moment (may well continue to be so, who knows). So it may be a little above normal for all cars. Except it's a hyper-saloon and in the past I've seen these lose 50% easily in the first 3 years. Seems about on course.

Do Porsche do GMFV? I thought the final payment was just that: a final payment?

 

[senwar]

Do Porsche do GMFV? I thought the final payment was just that: a final payment?

I queried this when setting up my finance as it reads exactly as you say.

However I was told it’s the guaranteed value and I have it in writing/email. I specifically asked questions to get the exact answer I was after so have something written down for the future.

 

[West A]

Agree with the above - it’s a fairly normal depreciation curve. I’m in Sydney and unfortunately the Australian market doesn’t really appreciate the Taycan for what it is. In sep 23 I took delivery of my Cross Turismo.
In Nov I tried to trade it against a Gt4. Paid $265k, offered $160 trade after 9 weeks of motoring…
Now that’s depreciation to get upset about!

 

[WuffvonTrips]

I queried this when setting up my finance as it reads exactly as you say.

However I was told it’s the guaranteed value and I have it in writing/email. I specifically asked questions to get the exact answer I was after so have something written down for the future.

Excuse my inexperience of these things, but leaving aside the terminology, is the final amount not just what you have to pay to keep the vehicle?
If it's worth more than that, you can make the payment to own it for less than its value at that time, but you've borrowed- and paid interest on- a larger amount over the repayment term than was necessary (had the final value been predicted correctly).
If it's worth less, then you've borrowed- and paid interest on- a lower amount over the repayment term than should have been necessary, and rather than make the final payment, you could hand the car back and hope you'll get an opportunity to buy it when it's sold at market value.
Although I got quotes myself, I didn't take the finance, so not sure if my understanding is correct.

 

[BigBob]

Agree with the above - it’s a fairly normal depreciation curve. I’m in Sydney and unfortunately the Australian market doesn’t really appreciate the Taycan for what it is. In sep 23 I took delivery of my Cross Turismo.
In Nov I tried to trade it against a Gt4. Paid $265k, offered $160 trade after 9 weeks of motoring…
Now that’s depreciation to get upset about!

I assume they wanted full price for the GT4! Ouch.

 

[West A]

I assume they wanted full price for the GT4! Ouch.

You guessed right BigBob..!

 

[senwar]

Excuse my inexperience of these things, but leaving aside the terminology, is the final amount not just what you have to pay to keep the vehicle?
If it's worth more than that, you can make the payment to own it for less than its value at that time, but you've borrowed- and paid interest on- a larger amount over the repayment term than was necessary (had the final value been predicted correctly).
If it's worth less, then you've borrowed- and paid interest on- a lower amount over the repayment term than should have been necessary, and rather than make the final payment, you could hand the car back and hope you'll get an opportunity to buy it when it's sold at market value.
Although I got quotes myself, I didn't take the finance, so not sure if my understanding is correct.

Yes that’s basically correct. So say final payment 55k and valued at 60k I get 5k collateral but have paid interest on the borrowed amount. If in same scenario it’s only worth 40k I just hand back.

My thought process was I got 15k off purchase and total payment IF I bought it at end was still 3k in my favour. And they carry risk if that makes sense. Only second time I’ve done finance pcp but made sense (altho horrific interest rate hurt)

Sponsored