When are you going fully electric?

throwaway4372 said:
yea, but that's not super nuts once you compare it to depreciation, cars are expensive.
Click to expand...

I guess as I come from always owning a car I struggle with the high monthly figure for what is (from my perspective) burning money.

Genuinely thought you paid back the value of the car over time. But yeah I get that with depreciation it probably isn't much difference if you want an always new/nearly new car.
 
Last edited:
The outlay tends to work out the same either way when you look at depreciation, or worse in my case when I "owned" my cars When you trade "your" car in after 3,4, 5 or whatever years how much has it depreciated before you start all over again?

Leasing or "owning" is all one big cycle of payments.

The only way to "own" a car that is cheaper is to buy at £10k or less and run it into the ground. If you are happy doing that ever 5-6+ years keep doing it.

Salary Sacrifice leasing works out cheaper for me now, despite the loss of some pension longer term.
 
Last edited:
ICDP said:
The outlay tends to work out the same either way when you look at depreciation. When you trade "your" car in after 3,4, 5 or whatever years how much has it depreciated before you start all over again?

Leasing or "owning" is all one big cycle of payments.
Click to expand...

I guess as I've always had old cars with little or no (or even appreciation) it's alien to me.

I see the cost of my car now. I see the cost of a year of "renting". And my head goes....
"In one year I'll have paid more than my cars worth and it's maintenence combined.. And I won't own anything."
 
Last edited:
413x said:
I guess as I've always had old cars with little or no (or even appreciation) it's alien to me.

I see the cost of my car now. I see the cost of a year of "renting". And my head goes....
"In one year I'll have paid more than my cars worth and it's maintenence combined.. And I won't own anything."
Click to expand...

I used to be the same when I did maybe 4,000 miles PA. But when I started doing 15,000 miles I wanted a nice car to be stuck in. So I started buying 1-2 year old cars for £20k to £25k and selling on after 3 years and it became excessive. I went Salary Sacrifice and it does save me hundreds of pounds each month but I am doing 4,000 miles PA again due to working from home 4 days a week.

I will look at cheaper runabouts again. Even if they are ICE.
 
Last edited:
ICDP said:
I used to be the same when I did maybe 4,000 miles PA. But when I started doing 15,000 miles I wanted a nice car to be stuck in. So I started buyin looking at 1-2 year old cars for £20k to £25k and selling on after 3 years and it became excessive. I went Salary Sacrifice and it does ave me hundred of pounds each month but I am doing 4,000 miles PA again due to working from home 4 days a week.

I will look at cheaper runabouts again. Even if they are ICE.
Click to expand...

Yeah that's what I do.
A few massive trips. Or weekend trips to the beach. So car gets full of sand.

Thought it was worth a look as thought I'd save a lot on an electric. But didn't realise it was geared to higher miles.
Comes with no other costs so can definitely see the peace of mind of paying a fixed amount per month.
 
I'm in my 30's, so my next car will likely by inefficient and quite fast..
before we get taxed furthermore on fossil fuel emitting combustion engines..

I could be swayed into hybrid route thereafter but could be a while before i go full electric, despite having a decent sized driveway
 
Salary sacrifice only works as an alternative to buying new(ish) cars.

Once you are down into buying used cars that have already lost half their value, it’s not really competitive on a purely cost basis.

New cars are rarely ’value for money’ compared to a used one.
 
b0rn2sk8 said:
Salary sacrifice only works as an alternative to buying new(ish) cars.

Once you are down into buying used cars that have already lost half their value, it’s not really competitive on a purely cost basis.

New cars are rarely ’value for money’ compared to a used one.
Click to expand...

Agreed
 
b0rn2sk8 said:
Salary sacrifice only works as an alternative to buying new(ish) cars.

Once you are down into buying used cars that have already lost half their value, it’s not really competitive on a purely cost basis.

New cars are rarely ’value for money’ compared to a used one.
Click to expand...
Not disagreeing, but imperative you overlay financing into the equation. Salary sacrifice is inherently 0%/the financing costs are buried. If you need a 9% bank loan to cover your used car, plus deposit - something to consider.
 
Classic Blue Theme said:
Not disagreeing, but imperative you overlay financing into the equation. Salary sacrifice is inherently 0%/the financing costs are buried. If you need a 9% bank loan to cover your used car, plus deposit - something to consider.
Click to expand...
Equally you need to factor in any lost pension contributions into the equation…

I’d suggest for the vast majority the loss of future pension hugely outweighs the tax benefit
 
It's normal for a car to depreciate anything between 40% to 60% in the first 3 years. It's model dependent and generally speaking a cheap basic car is at the lower end and a the more expensive mainstream cars are at the upper end.
 
NeoVo said:
I'm in my 30's, so my next car will likely by inefficient and quite fast..
before we get taxed furthermore on fossil fuel emitting combustion engines..

I could be swayed into hybrid route thereafter but could be a while before i go full electric, despite having a decent sized driveway
Click to expand...
I went electric because the Tesla model 3 Performance has insane response, speed and acceleration for the money. Also weighs around the same amount as a BMW M3 xdrive.

That said a smaller car would be more fun.
 
depreciation, Yes there seem to be some good value 2nd hand ev bargains at the moment, considering percentage degradation from RRP, if, you assume those drops don't persist as a second hand owner.

[
Watched bites from new bbc series about ev ownership this evening - their message
ev motors 50KG versus 600KG in the ferrari they chose - didn't mention the battery weight
interesting interview with gridserve boss, principally complaining about lack of grid connections enabling charging stations to be placed optimally
all told an ambiguous message
]
 
413x said:
Omg.
If that's typical depreciation you're paying 22k on a 36k car to have it 'new'. That is a crazy amount of money!
Click to expand...
LOL yep - hence why ....

I'm sticking in my works company car scheme - albeit they need to up the budgets to match current market rates per my previous posts
My wife drives a 2008 Freelander that's just a bashed up workhorse now approaching 100k miles - and still going strong :D
 
[YG]Bug-Eyed said:
My wife drives a 2008 Freelander that's just a bashed up workhorse now approaching 100k miles - and still going strong :D
Click to expand...

I'd normally say you'd expect easily that from a 15 year old vehicle doing under 7k miles per year, but it is JLR so surprised it hasn't been stuck in a workshop for at least half its life. :p
 
You must log in or register to reply here.
Back
Top Bottom