That's it for me , I'm out.

[Drago]

True - but we bought our EV so have the fuel savings that you would get and maintenance is a service each year for <£200.

Even if the car was worth nothing now (and it's not) then its cheaper for me to buy second hand now and I'm pretty confident that the car will do us at least another 4 years or more.

You can't ignore the cost of the purchase when doing the maths.

 

[cyberknight]

We

Where did you get the data?
Could you do a 2022 Hyundai Kona vs a 2012 Skoda fabia estate?

Google car sized

Where did you get the data?
Could you do a 2022 Hyundai Kona vs a 2012 Skoda fabia estate?

https://www.carsized.com/en/

 

[Emanresu]

You can't ignore the cost of the purchase when doing the maths.

Seems that the variable in any calculation will be for how long you want to hold onto the car. There is the 'bathtub curve' with any engineered product so buy after 3 years and sell before 12 and you should be OK on the running costs. Depreciation will be over a longer period so appears to cost less.

But if you want or need a new car every three years then PCP would seem a better bet as you are getting efficiency upgrades / lack of repair cost compared to taking the risk yourself.

So maths are whatever you want to make it.

 

[Drago]

PCP is about the most expensive means of acquiring a car, and on top of that you're still saddled with maintenance and repair costs for a car you don't even own.

 

[cougie uk]

You can't ignore the cost of the purchase when doing the maths.

And I didn't.

 

[Drago]

And I didn't.

That's why I the remark wasn't in response to you. It was for another fellow and I quoted you in error.

 

[Ming the Merciless]

Some folk are happy to pay £500-£700 a month on a lease to 'get to work'.

Then leave it depreciating and clogging the roads and land 99% of the time.

 

[tyred]

I've never seen the point of buying a new car, but guess someone has to to take the hit to provide me with cheap cars. I've paid cash for every car I've owned. I put 170,000 on a 205 that I paid €360 for without any real issues.

Thank you, to all who buy new.

 

[stephec]

I've had company cars since 1998, the last car I bought with my own money was my Capri for £650 in 1996.

When the tax was based on mileage I was no worse off compared to owning private, the gradually the changes to CO2 made it slightly worse, until now when I look at what people pay on PCP instead of running a car for ten years or so.

I've currently got a Mondeo 2.0D ST which was chosen as it had the lowest retail value compared to the others on my list of a similar spec, I'm paying tax on the 2021 price which was just over £28000, not sure exactly how much but somewhere between £100 to £140 a month, and as it needed a new engine at 90000 I'm glad it's not mine.

 

[stephec]

I live in Lincoln my partner in Liverpool, I will not be getting rid of the car in the near future that is for sure.

Knowing what's happened not so long ago I don't know if your partner is business or private related, but either way good luck, and hopefully they bring you happiness.

 

[Dogtrousers]

Out of interest will the devaluation of electric cars work differently? I'm thinking particularly about the battery and how it deteriorates over time and the effect that might have.

If I want to buy a car in a few years time and apply the approach I've taken in the past of going for a second hand vehicle will there be greater risk than for an ICE vehicle? Or will there be a market for used vehicles with new batteries?

Or will battery devaluation just be the same as gaskets and bearings and things wearing out in an ICE car?

Just wondering how things will go.

 

[mikeIow]

EVs won’t be massively different to regular ICE cars, I suspect.
Fewer things to go wrong, & components like brakes & pads last much longer with EVs, most of which would use a regen feature far more than pads for actually slowing cars.

We had a Kona for over 5 years & found it was valued around £11k after a list sale price of £36k. An expected depreciation compared with other cars.
Traded up to an ex-demo 3 month old one that’s was (surprise surprise) over 35% off original list price….

There are Tesla’s out there with over half a million miles on.
Batteries degrade, but the feeling is it is only around 1-2% per year, so if you have a 250-300 mile range to start, after 10 years you should still have over 200 🤷‍♂️

The main issue right now is that EVs are still at least 10-20% more than an equivalent ICE car from new…..but Chinese cars are coming in to sweep the market - companies like BYD, who have taken over a bunch of dealerships to establish a presence, and have lowered prices.

If (when) there is the next leap in battery tech, that could impact prices, but the broad 2nd hand market is fairly established.

A more interesting question (IMHO) is how Musks political views are impacting the Tesla brand. Several reports suggest he is putting a third of buyers off, which must be hurting sales. You couldn’t get a barge pole long enough to tempt me into one, but secondhand prices appear to be fairly sharp for them.

 

[Alex321]

Out of interest will the devaluation of electric cars work differently? I'm thinking particularly about the battery and how it deteriorates over time and the effect that might have.

If I want to buy a car in a few years time and apply the approach I've taken in the past of going for a second hand vehicle will there be greater risk than for an ICE vehicle? Or will there be a market for used vehicles with new batteries?

Or will battery devaluation just be the same as gaskets and bearings and things wearing out in an ICE car?

Just wondering how things will go.

I think the battery life issue has been blown out of all proportion.

Most will last in excess of 10 years, some quite a lot in excess of that.

If you normally buy 10 year old cars, then it may be an issue. If you normally buy 3-5 year old cars and keep them for 4-5 years, it really won't be an issue.

 

[Drago]

Out of interest will the devaluation of electric cars work differently? I'm thinking particularly about the battery and how it deteriorates over time and the effect that might have.

If I want to buy a car in a few years time and apply the approach I've taken in the past of going for a second hand vehicle will there be greater risk than for an ICE vehicle? Or will there be a market for used vehicles with new batteries?

Or will battery devaluation just be the same as gaskets and bearings and things wearing out in an ICE car?

Just wondering how things will go.

Research just last week shows they average leccy car has the same lifespan in years as a petrol car, and a higher lifetime mileage.

Depreciation for the most part down to market forces. The plummeting used values of the last 18 months are due to oversupply and are recovering fairly strongly.

 

[screenman]

Knowing what's happened not so long ago I don't know if your partner is business or private related, but either way good luck, and hopefully they bring you happiness.

Romantic involvement, I never expected it to happen again.