Electric cars Depreciation

SilentProf said:
Chargers are popping up all over the place. It won’t be long before you’ll think it’s unusual not to see a few in even small car parks outside shops.
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This is defo the future to aim for. Destination charging should be everywhere. The dream is whe you fill up at the place you're going to anyway
 
ThatFragranceGuy said:
I suppose that depends if you want to sell it after 3 years. If I bought a car brand new I probably would not want to sell it in 2-3 years because that is where depreciation gets you as any car will lose value the second you get it. I'd want to get decent use out of it.

My last car is a 2008 ford focus and I've been driving it since it was a year old. My partner just took out a lease on a jaguar which doesn't cost a huge sum of money compared to any other option. We could have bought one for about 23k but it wouldn't have been as high spec, and then we'd have to insure it, maintain it, be on the hook for repairs etc. It's brand new, includes insurance and servicing. Knowing its pretty much thought free is fairly chill. The car's RRP is £78k at that spec and we'd never be spending that on a car, but if we were to finance a £23k car the payments would be the same.

As it stands, its hard for me to get in the focus now - with the cost to "fill up" often being a few pounds instead of giving change from £100, plus a much nicer drive.
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A few points here. Firstly, if you're talking about beating depreciation - don't buy a new car. Buy one a few years old.

Secondly if the car retails for £78k and you can get one for £23k, it might worth setting up a dealership.

With regards to the Focus, if it's running good and has been looked after, £23k would buy a lot of fuel. You also haven't stated how much it is to lease the car.
Andy_W said:
I'm still well up, massively.

The recent value drop has delayed my thoughts on changing cars again mind, but not as much as as not wonting to move onto a new finance rate twice as high. Now I'm thinking I might as well just wait a year until the PCP ends then I can hand it back at 40% depreciation at most, which is a typical 3 year depreciation value.
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What's the TCO over 3 years including insurance?

If the desperation is 40% - what's that on a Taycan? Must be at least £30k. That was my original point a couple of years ago. You've spent all that money and will come out with nothing.
 
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These threads are fun, like eubank v Ben rematches. I don't quite understand people criticising early adopters of the technology. They pay a premium in every new field that allows the producers to develop the tech and upscale production, reducing costs for the more cautious buyers. If manufacturers waited for the masses we would stagnate.

Everybody wins.

For the record I don't like ev's and suspect we will move from electric to hydrogen, and I am not sure I will like those either😁.
 
Laughing said:
These threads are fun, like eubank v Ben rematches. I don't quite understand people criticising early adopters of the technology. They pay a premium in every new field that allows the producers to develop the tech and upscale production, reducing costs for the more cautious buyers. If manufacturers waited for the masses we would stagnate.

Everybody wins.

For the record I don't like ev's and suspect we will move from electric to hydrogen, and I am not sure I will like those either😁.
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I genuinely don't understand the "move to hydrogen thing" It's jsut so woefully inefficient compared to BEV. I may be wrong, and it may be the future but I can't make it make sense at all. Not even slighlty.

I storngly susepct that the push for hydrogen come from two things:
1. People simply don't want to adapt how they refuel their car so think that hydrogen "filling up" is the same as what they do now. They don't yet realise how convenient EV charging is.
2. Big Oil are pushing this because you can commoditise hydrogen. BP and Shell can still make their obscene profits by controlling supply. You can't commodotise "electricity"
 
SmallTown said:
This is defo the future to aim for. Destination charging should be everywhere. The dream is whe you fill up at the place you're going to anyway
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Or battery swapping stations? These are starting up now with a target time of 5 minutes - looking for equivalence with petrol filling stations.
 
It can work out financially but, guess I’m in a minority.
Got the Enyaq 80 18 months ago as a company car.

Got it given to me when I left so will just pay tax on the benefit in kind👍
 
speckyget said:
Or battery swapping stations? These are starting up now with a target time of 5 minutes - looking for equivalence with petrol filling stations.
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Yeah and I totally disagree with this. It's going the wrong way. Battery swap stations are to appease people who refuse to understand how EV are refuelled.

They have their uses (such as for long motorway trips) but as soon as you use an EV you know the destination charging is what you need. The great advantage of EV is you can fill up at your destination, normally at home. I know ICE drivers won't understand this but it seems such a backwards step to make a specific journey to a refuelling station just to refuel. Destination charging is FAR more useful and convenient.
 
SmallTown said:
99% of all car journeys in the UK are under 100 miles. Which every new EV can do!
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Do the batteries hold their charge if the car is standing unused, e.g. left in an airport carpark for a couple of weeks?
Or would you have to make sure there was at least a minimum amount of charge remaining before you parked up?
 
Rofesleg said:
Do the batteries hold their charge if the car is standing unused, e.g. left in an airport carpark for a couple of weeks?
Or would you have to make sure there was at least a minimum amount of charge remaining before you parked up?
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"How much charge can your electric car lose when it’s parked?
This depends on what is causing vampire drain on your battery power and how your electric car is being affected.

If the car is left with only essential systems active, then the loss of charge will be minimal.

It is suggested that an electric car will only lose around 2-3% of its charge a month whilst parked without being driven. So if you have an EV with a 200-mile range, you would expect to lose approximately 4 to 6 miles over the duration of a month."

 
sherlock1969 said:
"How much charge can your electric car lose when it’s parked?
This depends on what is causing vampire drain on your battery power and how your electric car is being affected.

If the car is left with only essential systems active, then the loss of charge will be minimal.

It is suggested that an electric car will only lose around 2-3% of its charge a month whilst parked without being driven. So if you have an EV with a 200-mile range, you would expect to lose approximately 4 to 6 miles over the duration of a month."

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yes, you need to turn off sentry mode on your tesla for example, so it isn't killing the battery monitoring and recording any car that drives past, etc. Temperature will impact how much it loses too, some cars like tesla will warm the batteries at night to keep them optimum
 
How much do you normally pay for charging away from your home? I usually charge for free at work but drove up for the game a few weeks ago, parked at the Hill St shopping centre and charged on the rapid charger there. For 45 mins and topping up 150 miles I was charged £30.

I'm going over to France this year, planning on driving but that cost may alter my plans.
 
The_Tiler said:
How much do you normally pay for charging away from your home? I usually charge for free at work but drove up for the game a few weeks ago, parked at the Hill St shopping centre and charged on the rapid charger there. For 45 mins and topping up 150 miles I was charged £30.

I'm going over to France this year, planning on driving but that cost may alter my plans.
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Rapid charging is expensive. Probably more expensive than petrol for the equivalent miles. If that is the only form of charging you do then owning an EV is expensive. I rapid charge only when I'm on long journeys so my average charge cost is still really low despite the high rapid charge costs when used.
 
SmallTown said:
You can do that for me, you're still replying. Nice to know I'm in your head!


The infrastructure is actually better than you think. I was surprised how many chargers I could find in Stockton. But yes it is still a work in progress
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I do 12k miles a year in mine, all on motorways and I live in a block of flats so dont have a home charger - its a great car and I love driving it, but the public fast charging infrastructure is still terrible, especially on motorways. Im regularly pulling into tesla superchargers and waiting 30-60 mins just to get on a charger. I appreciate this is all about my own circumstances but sadly I will be going back to petrol when my lease deal ends in a years time.
 
Ironops said:
Theyre still better for the environment over the course of their lifetimes than ICEs
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There's no single measure of this, so it's difficult to quantify.

Many, many years ago JD Power did some research on the environmental impact per vehicle and assessed it on the whole life cycle of a car and found that cars with a longer lifespan had a smaller environmental impact than newer cars although each individual vehicle put out more 'pollution' when running. I think the old Jeep Wrangler was shown to be the 'cleanest'.
 
JustTheGent said:
What's the TCO over 3 years including insurance?

If the desperation is 40% - what's that on a Taycan? Must be at least £30k. That was my original point a couple of years ago. You've spent all that money and will come out with nothing.
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Not sure exactly on insurance, it's part of a fleet, but I just checked on compare the market and it is about £1200 personal so fleet would be about 3/4 of that maybe, not bad for the purchase price/ level of car. I had my details in for my old 4 series petrol and that was showing as 1k, for a 30k car, 3 years older, so not much in it.

Yeah, still the Taycan, was 99k I think, and cars my spec are going for around 75k after 2 years and 68k after 3. But there's only really one within 200 miles in the country similar to my spec. To be honest I don't see that going down much or anything by the time I come to sell or hand it back in, but I also don't think there's much to gain selling an overly price corrected car at a bad time, when prices are low and used demand is high, history says that won't last long. Like I said though, I can get out after 3 years on 40% at worst but that's 40k!.

Not looked at the figures recently but it's something like this for 3 years, assuming 30% depreciation:
30k depreciation, 3k insurance, <1k fuel (for 30k miles in a 4 second 0-60 car), so about 34k for 36k months ex finance, so maybe about 1k per month, would be about 1.2k for 40% depreciation. I would be more than happy with that for the level of the car, as a personal owner if I was looking at cars that level/ age. I bought it through my company though, so next to no company car tax/ BIK, no personal tax, and corp tax deductible too. I wouldn't be surprised if I hadn't saved another 30-40% off that which was also in my consideration when buying, wouldn't have spent as much otherwise.

The Panamera is probably the closest equivalent car in ICE form (I would never buy on of those mind), and they're doing worse, and obviously would not have the same company car tax benefits and the fuel would be 10k more too. I couldn't think what else to compare it too, but M5's and A6 Avants have lost way more too. The whole market for that type/ performance car has dropped, probably mostly due to interest rates going through the roof.

Like I've said before, I budget about 1k per month, and overall, all things considered will come in well under that. If I was budgeting £500 I would have probably got the i4 or a model 3.
 
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