total EV car sale over the last few quarters have stagnated...if you care to keep an eye on monthly sale figures as opposed to op-eds.I would say your assumptions on the constrained car supply is already showing signs of being very, VERY wrong. New car sales have risen over the past 5 or 6 months as wait times have reduced and with Tesla price drops used EV prices have tanked, knocking many thousands off EV residuals. So in the next 2-3 years or so, expect current EV risiduals to be poor as new cars are back to 2-3 month max wait times or less.
Used electric car prices caught in vicious downward cycle as experts warn of trouble ahead
Plummeting used electric car values are in danger of knocking the wind out of the sails of the new EV market, warn experts. Speaking to Car Dealer,cardealermagazine.co.uk
EV salary sacrifice
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what do you mean benefited from inflationary price?
you mean if i assume my car is of certain milage based on today used car price, is the PCP good value?
based on milage yes, i am easily £15k over the final ballon...surprisingly I can find Enyaq on autotrader with over 30k milage.
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I think you miss the pertinent point. Used EV prices have tanked and aren't going to improve any time soon.
used EV has stopped being more expensive than new EV due to there being some supply. but they have not "tanked" per-se.
tanking means the traditional depreciate of cars ie 25% off new and subsequent 10% yr on yr. that isnt happening atm.
I certainly dont expect used EVs with 10k on the clock to demand the same price as brand new order EV. last 2 years have just been absoluately crazy in terms of car prices.
I think by this time next year, we are more likely to see a long term trend on EV used prices.
Historical EV prices other than Tesla are completely different ball game due to their immature technology. also Teslas hold value quite well so if that is any indication...
to seriously disrupt EV market prices, someone needs to come into the market with a truly affordable family EV or hatch back that seats 4 comfortably with boot spaces that has range over 200miles and cost around £18k mark - dont see that happening.
the cheapest EV on british road is a Quad-bike max speed 28mph with a roof and seats 2 with a range of 60miles - £8k OTR
the cheapest 4 seater EV is the smart forfour max speed 62mph with a range of 70 miles - £18k OTR (getiing close but no cigar for the range or practicality)
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- Compared to last year, used EV prices have tanked and are predicted to drop further. New car prices are up to 10% lower than last year, used are ~20% - 25% lower. Obvioulsy it will vary from model to model.
- Tesla's no longer hold their values like they used to, have you looked at used prices lately after the price drops? New M3 LR is £51k, 1 year old used with less than 15k miles can be had for ~£40k. Or the M3 SR+ is £42k and can be had for less than £30k. Model Y, £53k new, ~£45k for 1 year old and less than 15k miles and thats with the £2k red paint option.
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For those of you posting sal-sac quotes including insurance - is that actually what you will pay? Had to exchange some rather blunt emails with our scheme provider after finding out that the quotes were just "indicative", and that we had to submit full insurance details on a per vehicle basis for an accurate quote - this bumped the costs up significantly for me, as a couple of examples:
Niro EV 3 - originally quoted £460, actual cost including insurance £503, without insurance £431
MG 5 LR Trophy - Original quote £440, actual cost including insurance £482, without insurance £408
MG ZS LR Trophy - Original quote £420, actual cost including insurance £463, without insurance £387
It works out cheaper for me to get my own insurance!
Yup, this is why I'm seriously considering canning my Niro EV order and picking up a 2-3 year old MG5 or eNiro. Sure they are older tech, but anything is going to be a step up over a 14 year old Octavia
MG are certainly moving things in the right direction. Granted the MG4 is still ~£8k over your £18k target, but compared to what was available a couple of years ago is a huge step towards it.
Niro EV 3 - originally quoted £460, actual cost including insurance £503, without insurance £431
MG 5 LR Trophy - Original quote £440, actual cost including insurance £482, without insurance £408
MG ZS LR Trophy - Original quote £420, actual cost including insurance £463, without insurance £387
It works out cheaper for me to get my own insurance!
Yup, this is why I'm seriously considering canning my Niro EV order and picking up a 2-3 year old MG5 or eNiro. Sure they are older tech, but anything is going to be a step up over a 14 year old Octavia
MG are certainly moving things in the right direction. Granted the MG4 is still ~£8k over your £18k target, but compared to what was available a couple of years ago is a huge step towards it.
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I’m not sure where this arbitrary £18k number comes from? One of the most popular and common family ICE cars available is the Ford Focus and it costs £27k new.
Most mid sized family hatch cars come in around £22k - £25k or so. The MG4 is a viable alternative in that price bracket.
Most mid sized family hatch cars come in around £22k - £25k or so. The MG4 is a viable alternative in that price bracket.
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Funny enough 18k was based on the focus I leased a number of years back. Titanium with metallic paint and the price was £18,500…which is where I consider to be the value range for family wagon.
New car prices has seen inflations like all other things.
If we saying a family ICE wagon is starting at £27,000 then EV can’t be depreciating far beyond that price…cheaper to run, lower maintenance cost, full of tech…
Can’t be saying EV are tanking and also saying ICE wagons are going up…
New car prices has seen inflations like all other things.
If we saying a family ICE wagon is starting at £27,000 then EV can’t be depreciating far beyond that price…cheaper to run, lower maintenance cost, full of tech…
Can’t be saying EV are tanking and also saying ICE wagons are going up…
Last year the used market was a stupid LOL price bubble, due to new supply being unavailable for years. It got to the state where 3 year old cars with 30k+ miles cost more than a brand new equivalent.
Used prices now have reset to what they should be. Has the used market ‘tanked‘ compared to this bubble, yes.
Is there anything not normal with the used prices now - no.
-> A new Model Y, or any new car which cost £53k new, which is now £45k used after a year - this is normal used pricing.
The used market is just resetting back to the correct prices before the bubble - Nothing unusual here !
There aren’t many new £18k ICE cars - Even a base, poverty spec Fiesta or Corsa with 75bhp is £18k. Also, these probably dont meet your mentioned space requirements.
An EV providing a real world range of 200 miles realistically needs a WLTP of 250+ miles. This range will require a large(ish) battery, which increases the cost and requiring a larger platform to house the battery. Hence why there are no EV cars, small or otherwise for £18k
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Pretty much, normally for an ICE car that’s in the 50K margin the 1yr old used price would be significantly more than the 20% off new prices.
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Yes, the quoted price is the price paid - it doesn’t change.
The provider doesnt request to see any previous insurance documents, just your driving license.
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Yes true, but I still think there is more to drop. Anyone who bought new or used last year will have a lot more than the usual yearly depreciation. New cars have dropped up to 10% in price and some used cars are still overpriced. The Enyaq 80 is a perfect example. New is £42k, used is £44k for base models because there are still significant waiting lists. That is joke pricing and is unsustainable.
You can pick up a similar aged and mileage M3 LR for £5k less. Or get a MY LR for the same price. Or if you prefer a more premium and sporty EV, an I-Pace for £5k less. Or a Polestar 2 dual motor for less than a Skoda Enyaq.
So I don’t feel used EV prices have returned to normal, in some cases they are worse than “normal” and in others a reset is very imminent.
I was using inflationary as a euphemism for the cross-board shortage of new vehicles(chips/covid) leading to used+new car prices increases,
if your ownership was across that period, then despite recent dip in ev prices, having the option to buy the asset with it's equity (effectively part ownership courtesy of the £12k deposit)
puts you in a better situation than a lease, where you don't see that index linking.
Soldato
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another thing, once you're on a salary sacrifice it's difficult to ever come out of one lol
vs PCP
vs PCP
Indeed, if someone bought or ordered prior to the price hikes for new and used, then they would not be affected by any loss in residuals (compared to original price). If you bought new at the up to 10% higher costs, or used at the 25% inflated prices then, your residual trade in price has indeed "tanked".
another thing, once you're on a salary sacrifice it's difficult to ever come out of one lol
vs PCP
Had an Audi E-Tron 50 on salary sacrifice for 12k miles per anum and it cost me £320 per month. It was actually cheaper than an E-Niro or a Kona and while it did a lot less range, it rapid charged a lot faster and was a hell of a lot better to drive than both. Never once did the 175 summer miles and 140 winter miles cause me a problem. I learned how to get over charger anxiety* in that thing
Most people call it range anxiety, the reality is it's the lack of working useable chargers that causes the problem. Even an E-Tron at 175 miles of range would drive for almost 3 hours at typical motorway speed.
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Soldato
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Had an Audi E-Tron 50 on salary sacrifice for 12k miles per anum and it cost me £320 per month. It was actually cheaper than an E-Niro or a Kona and while it did a lot less range, it rapid charged a lot faster and was a hell of a lot better to drive than both. Never once did the 175 summer miles and 140 winter miles cause me a problem. I learned how to get over charger anxiety* in that thing
Most people call it range anxiety, the reality is it's the lack of working useable chargers that causes the problem. Even an E-Tron at 175 miles of range would drive for almost 3 hours at typical motorway speed.
Yeah the infrastructure is really bad. I went to leicester services a few weeks ago, and whilst I could just about manage the round trip I'd have felt a bit easier doing a quick top up, but the three chargers (three!!! joke in itself) weren't working lol
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got a bit trip to north wales in a couple of weeks time.
Would be interesting to see what the charging hubs like. Planning on stopping only at places with 4 or more charging stations ie 8 chargers.
I think there is one near rugby which is near enough to half way point for me so I will be looking to stop there for lunch and get the car to 80%+
Would be interesting to see what the charging hubs like. Planning on stopping only at places with 4 or more charging stations ie 8 chargers.
I think there is one near rugby which is near enough to half way point for me so I will be looking to stop there for lunch and get the car to 80%+
Soldato
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Why are the etrons so cheap then, that seems similar to something like a corsa. I'd also be impressed if you could get 3 hours at motorway speed in one, I'd be worried about mine and that's got 250 miles range at 90, although I guess it depends what you class as motorway speed 
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