I know what you're saying but the facelift is a much nicer car internally so I think its worth it.
Thinking of getting an EV
- Thread starter danlightbulb
- Start date
Soldato
If you find value in that £9k spent that's cool, personally I'd suck it up and only keep the car two years then get something you really like then. Also you'd have understood the benefits and pitfalls of the car, what if you buy the £18k car and you hate it, after two years it's likely going to have lost £9k, where as the £9k car will have likely lost £3k at worst.
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Yeah this is another annoyance with buying off Autotrader. None of the cars around the price point im looking at are anywhere near me, so trapesing round the country again...
I won't buy anything further than 50miles from me, partly why I've been looking for 4 months - and it's getting boring (too many threads on long distance relationships)
Those rails you can get on some mg5 roofs would be pretty useful, ladders, diy (recent 4m ladder inside 3 touring was fun)
Those rails you can get on some mg5 roofs would be pretty useful, ladders, diy (recent 4m ladder inside 3 touring was fun)
Yeah Im also not seeing as many £18-19k cars as I thought I was yesterday, a lot seem to be more around the £21-22k mark now. Not sure what's happened.
The lease is totally dead money.
The loan at least leaves you with an asset you can sell/use.
yeah completely understand that, but the closer it gets to parity the less it matters.
If Im paying 3k on interest on the loan, and the car value might be lower in 5 years if the EV market has changed and older EVs (these cars are being used as taxi's remember - could be a lot of them hitting the used market), then all things considered I might not be losing out that much compared to the lease.
We've already seen I cant get much lower than £400 a month for my motoring no matter what I run, so the lease is only a bit above that figure. it does completely derisk everything and take away any hassle other than what to do in 4 years time.
Im not disagreeing that youre right in principle, but the lease is very easy and not too far off cost wise.
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Question on 1 year old cars on 8k miles. Why would someone trade these in? Does it suggest an issue with the car?
No need to single out interest. The difference on the lease is at the end of 3 years you'll have no car. On the loan you'll still have a car.
Can be a variety of reasons and sources for such cars - ex demonstrator, dealership staff car, manufacturer short term lease programmes, rental cars, cancelled leases/company cars... even down to some people may have just concluded an EV wasn't for them and traded in
Associate
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- 19 May 2010
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20 pages and 390 posts. Does Dan have a car yet…?
Its a lot of money, I think Im right to be cautious about it.
I dont have anyone else to discuss these sorts of things with really. I needed to go through a process in my mind to come to the right decision.
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We just need future Dan to tell current Dan what is what…
Your budget is £20k
There are plenty choices in the used car sector - a quick search shows there are 345 teslas for 20k or under. Teslas are known to be decent and you can get battery test report out of them fairly easily. They get constant software updates so won’t be “obsolete” anytime soon. They also keep residual pretty darn well considering the first gen M3 base was 30k and if they still able to fetch 15k-20k after 10yrs that’s better depreciation than any ICE car baring collectables.
it’s a no brainer really.
If you are worried have a watch of this series of video covering a high mileage MS
youtu.be
There are plenty choices in the used car sector - a quick search shows there are 345 teslas for 20k or under. Teslas are known to be decent and you can get battery test report out of them fairly easily. They get constant software updates so won’t be “obsolete” anytime soon. They also keep residual pretty darn well considering the first gen M3 base was 30k and if they still able to fetch 15k-20k after 10yrs that’s better depreciation than any ICE car baring collectables.
it’s a no brainer really.
If you are worried have a watch of this series of video covering a high mileage MS
Tesla Taxi FULL HEALTH CHECK: Is The Battery RUINED After 430,000 Miles? [Episode 4]
Rory enlists the help of an expert to give our high mileage Tesla taxi a full health check.Drive brand new for less than you might expect with Auto Trader le...
youtu.be
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Soldato
2.75 year old MG5, £9k, little to no chance of depreciation beyond fuel savings being made, easy to move if it is hated, no big loan around your neck (£6k, £267 per month on a 24 month loan, only £400 interest to pay at 6.5% over the term) and easy to refinance if required, less to insure as lower replacement value, still under warranty. Seems to me like a decision is being made with the heart and not the head, but all the posts are about finances and keeping the costs down, and risk etc. aren't really being considering just written and ignored by the author.
Man of Honour
He doesn't want a Tesla.Your budget is £20k
There are plenty choices in the used car sector - a quick search shows there are 345 teslas for 20k or under. Teslas are known to be decent and you can get battery test report out of them fairly easily. They get constant software updates so won’t be “obsolete” anytime soon. They also keep residual pretty darn well considering the first gen M3 base was 30k and if they still able to fetch 15k-20k after 10yrs that’s better depreciation than any ICE car baring collectables.
it’s a no brainer really.
If you are worried have a watch of this series of video covering a high mileage MS
Tesla Taxi FULL HEALTH CHECK: Is The Battery RUINED After 430,000 Miles? [Episode 4]
Rory enlists the help of an expert to give our high mileage Tesla taxi a full health check.Drive brand new for less than you might expect with Auto Trader le...
I just don't think a 10 year old Tesla is the right choice really, considering everything Ive been discussing.
I can definitely see what you are saying and I need to think about it some more. I think the one you've picked for £9k is also at the low end though as well, they are more typically around £12-13k for the pre-facelift model. The size of the loan to buy a £20k car is certainly on my mind and that's one of the reasons Im favouring the lease still. Some reasons are pulling towards lease and some reasons are pulling toward loan.
Are you at risk of job loss/change in the next 4 years? That'll end the lease if it's salsac.
Never say never but I don't think so. Ive been there 24 years.