Do we have a MAJOR PROBLEM with EV depreciation? Case Studies.
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- เผยแพร่เมื่อ 29 ก.ย. 2024
- After my first video proved quite popular, Geoff has some more to add, and some key questions about EV ownership. Will you be getting another one...? And just how bad is the depreciation on some of the most popular EVs?
#ElectricCar #EV #ULEZ #News #Cars #ClassicCars #Tesla
Sell you my Taycan for £85k. 😂 I won't be buying another.
£85k would get me 85 cars, thats my issue really, ha ha.
Isle of Skye Video was good. As for the route, I wonder if the route planner when planning a route from Leeds to Isle of Skye was taking EV charging points into consideration ?. All route planners I have go via Glencoe and Fort William.
So if I buy these knocked down priced EV will I be picking up a bargain or will the price continue to depreciate at the same rate- any stats on this
@@stuartwood5448 problem with ev cars is that its just a trend and nothing else while people are having their bank accounts raped
@@mandismith89It is a fad being forced on us by the government, remember when the government told us that diesel was the future! All ICE cars are to be gone by 2035 and I think private ownership is to be phased out by then. What a shxt show! This is the end of the UK we will be reduced to a third world country
Two things amaze me- how much EV’s lose, and how people have that sort of money to begin with 😂
@@carlcollins6659 When you get a company car you are BANDED, only the top people would get a car worth 40k upward
they cant afford it they'll have to sacrifice other things like holidays and days out with the children cause they were crazy daft with their credit, window shopping online when your drunk, leads to these kinds of problems, its not like buying clothes that you can easily send back LOL
On affordability how much does a tyre cost on EV;s
@@TeaBreak. doing a 'ton of miles' is exactly what an electric WON'T do!
@@John_Wood_ exactly... I had a 1996 that I put over 290,000 miles on. I had it for 22 years. did all my own maintenance and repairs. No EV on the planet right now can claim that kind of longevity for the price I originally paid for it new off the lot at $23K
Great report Geoff, EVs are overpriced and by the sound of it the depreciation is horrendous as most cars are on pcps a crisis is looming.
Will stay with my Duster then get another one.
They’re overpriced AND have depreciated massively? Are you saying that even with massive depreciation they’re still overpriced?
@@kevinpeters5000 yes EVs are not a good buy currently particularly with new technology coming such as vehicle to grid.
It’s simple - don’t buy new cars. It applies to all non collecatble cars. I’ve always gone for 1 year plus vehicles.
The problem is fleets are pushing staff to get into these massively expensive EV’s and with nearly zero BIK it’s a no brainer for many. The silly prices fleet’s are paying for these EV’s don’t translate into the used market. I went for a PHEV & finding it really economical & have no complaints at all.
Not ever getting an EV. I love my Mazda 2 and costs SFA to run.
Dunno Geoff, comparing what dealers or private sellers want for their cars and what they actually realise are two different things. If there are no offers, what happens? How long are EVs on the market before being sold compared to ICE cars?
You can probably buy a top of the range petrol Ford fiesta for about 30k ,even if petrol ceased in 2030 you would still have more money in your pocket at the end lol
First point re public charger is not realistic, they are often two or three times the domestic unit cost, but regardless, since the energy crisis we have seen prices go from 12p a kWh to 50p, so of course this is going to have a huge impact on used prices. You can adapt numbers to suit both arguments, but one thing is often missed is the efficiency of charging, a kWh form the wall doesn't translate to a kWh in the car, you will only get 80% of that.
Perfectly happy with our ID3. No expectation of driving great distances in it. Perfect for short journeys and charging directly from solar at this time of year. Avoided buying outright…would either be superseded by improved technology or would hit a depreciation bump. Fortunately judgement right on this.
So you like built in obsolescence and the huge waste stream which it creates!!!
@@idi0tdetectioninprogress go to London on a summer’s day with high ozone and emissions…attempt to breathe the air and come back with an answer?
@@donhaynes989 Two different subjects. Londons failure has been a quarter of a century in the making.
The built in obsolescence of your EV is a given because it relies on tech. Throwaway vehicles, which is why most of them are leased. There shall never be a vast used market for these things, they'll just end up creating a huge waste stream quicker than a combustion engine which can be maintained and rebuilt.
@@idi0tdetectioninprogress they might be two different subjects but we have to live with the consequences of the lack of investment in a working and affordable public transport system in London. EVs might be “obsolete” but provide a solution in the medium term. Given the human relationship with the planet it’s a bit late to start getting a conscience about the impact of vehicles. The potential of immediate health impact and global warming on our whole viable existence are bigger issues in my book.
@@donhaynes989 You really ought to seperate London's air quality and transport problems from the equation, as they're two completely different things.
As for the rest of the climate change and meltdown rhetoric, that's down to you what you believe. But you are listening to, and being influenced by people who said "two weeks to flatten the curve"!!!!
Even Greta has deleted her dumbass Tweets which didn't age well 🤣
Question is. Why do they depreciate so much in no time ?. Why ?.
I never have & never will burn 60k on a scalelectric 💥
Citroen Ami, Renault Twizzy, Sur-Ron Light Bee.
@@richy69ifyThere not cars there matchboxes
@@nautique1970
60K EVs are living room on wheels. I bet not many here fill the 5 seats in the SUVs more than once every few months.
@@richy69ify none of those are actually cars.
I had to do an airport run last night in the company Peugeot E 208. I started with 121 miles. It was scary losing 15 miles up the hills. At one point I was down to 55 miles and was seriously worried about my range. However I managed to get about 20 miles back on the hills down from Bristol airport . Still I had to drive at 40mph on the 60mph which wasn’t an issue at 3.30 AM. All the same, as nice as the car drives I couldn’t help but think how my D4 Volvo diesel would have done the whole thing with zero anxiety and probably not even lost any range.
Dont look at miles left, look at %. Why do people do this? They never did this in gas cars, because those numbers where also NEVER ACCURATE. But ooh no, NOW its a fucking problem and cause for anxiety?
That’s because you’re fecked, if you run out of miles and your battery goes flat, unlike the diesel or petrol when you can refill at any station.
Just for your interest, I always check mileage left on my diesel as a rough guidance.
Anxiety is something you have when getting an EV but after less than a year I’m not worried at all. You end up knowing the car perfectly fine
As an ICE owner the only time I suffered milage anxiety was during a petrol shortage while on holiday in Yorkshire.
Instead of deluding themselves, perhaps some EV owners should be more honest and say they hate worrying about milage when unable to home charge their cars.
@@davidwatkins5317 It's a nuisance for sure. But for me it's not a big issue and EVs are a way to spare the environment.
The EV thing is very much the same as the jibby jabby controversy . All those who bought into it would never admit that they had got it wrong even now when it has injured (or worse) so many.
You mean like brex$hit?
I'll admit I got it wrong
I got 5 Covid injections and they had zero impact. Everyone I know did the same and they are just fine. After billions of injections if there were any actual significant real-world side effects we would know.
@@jonb5493 You'd never admit it was right to be free of a controlling cabal.
Oughhh that will sting a few - Deniers 😂
Blimey!!!!! As Lee said, "In 10 years there will be ads on TV, 'Were you sold an EV?'......." its VW diesels all over again. IT'S ALL A SCAM.
A scam including, banks, insurance companies, car manufacturers and governments. In a real world without subsidies these would never have taken ff. When governments work with corporations isn't that Fascism?
10 years? It ain't going to take that long.
Silly. It will be mandated by law. I bought my model x in cash and will drive it until it is dead. Best selling car in the world in May 2023? Model Y. You guys have your heads in the sand and only site worst case scenarios based upon old or current tech. It will only get better. Moore’s Law, Luddites.
@@KentBuchla Odd it has taken over 140 years for EV's just to catch up.
@@KentBuchlaAnd your car looks like a childs toy.
Isn’t this the aim to make reasonable travel by any means inaccessible (or the accepted norm?) to the masses?
Correct. The inconvenience is the exact point. Theres no replacement for the car, and that's on purpose.
Correct and that will include cruises and flying.
@@scudosmyth784 The electric planes in development now are to put everyone off flying.
Yes, yet apparently these politicians work for us... We need to make some seriously big changes to who we elect.
@@djparr4727no, we work for them. Didn't you get the memo?
We all will pay a steep price for this even never ever having an EV myself! People just don't get it yet.
It's one reason supermarkets are putting food prices up so much. They have to cover all the cost of infrastructure and maintenance on their useless chargers that are all out of order in winter due to condensation. They try to entice you with free (at first) and then cheaper electric, but you can never get on one that works and even if you can, they make back the money when you go in the store.
@@ArcanePath360are you all this conspiracy theory crazy here?
@@Lewis_Standing Yes.
We are Already paing the price, as regular ICE car prices are raised to cover the costs of building EV's.
PS: Just give it a few years & watch electricity prices double (at least)
A friend of mine was able to return her EV to VW after 6 months because she threatened to sue them under the trades description act, when it turned out she could only get 80 miles range in the middle of winter. Maybe try that position.
You can reject any cars or motorcycle in the UK under consumer law if it does not match advertised claims or is not of merchandisable quality - that includes car that have continuous warranty problems. Dealers will just give you your money back rather than argue the toss.
@@ggee7391only if what is stated in the ad hasnt got an astrix next to it with small print underneath or the word approx....
That would be a joke in Australia. That’s less than one day’s ordinary driving..kids to school, work, shops..bare minimum.
I don't believe her, because I know a dozen people who want to return their VW EV and are just ignored.
@@virginiaviola5097Where is bare minimum
Great Video, and you are right. They are showing crazy depreciation currently as they were initially overpriced, but all cars depreciate at an alarming rate, especially luxury models; smaller cars and cheaper cars will always hold their value better as there is more demand for them with more buyers in the market pool. I have an old 635D that I bought for no money, and I will keep it as it would only lose a little money over the next few years ( Plus, it drives so well). I have a 2016 A7 that I purchased from a dealer two years ago at 23.5k, and now it's worth 18k, so again, the intelligent thing to do would be to keep it. Also, we need to remember that all cars two years ago were overpriced due to demand out stripping supply; the market in now rebalancing. I like the idea of having an older car and keeping it well-maintained. Not only do they look great if they're mint. I do fancy an AV as a runaround, but you have to charge it at home and use the lower night charging rate; there are many pros and cons. Just be sensible and do the maths. Thanks, happy motoring
If a political party pledged to cancel 2030 they would pick up a lot of motorists votes.
UKIP
one commentator here reckons car prices will rise 10% each year, so that will price me out of a new car
@@richy69ify the prices do not matter as the game of 2030 is to have you out of your car, it is to have you out of your arse and anything else basically
IMO the first political party that dumps this ridiculous net zero tripe wins the next election. Starmer wouldn't even back the London ULEZ expansion today. They've done the research and they've realised people are starting to understand what this net zero religion is going to cost them and how much it's going to curtail their freedoms and they don't like it.
All political parties are bought if you dont realize this after CON19 and J@Bs don't know what to tell you
This will cause a problem in the car finance market as the vehicles come off the PCP & the finance companies aren't getting their money back.
Well spotted.😂
They are between a rock and hard place. If people stop paying their leases and they impound the car no one is going to buy it. They will lose the money that has not been paid
My heart bleeds for them, poor souls. What ate they going to do when there is nothing other than EVs to finance?
@chromiumphotography5138 yes but it's the next person who goes to finance their dream car that will have sky high interest rates... these finance companies always win. The buyer always loses in the long run
@@GFY127 If the depreciation worsens finance companies will go under
Hi Geoff, i think i have the ideal vehicle of the future, my good old fordson dexter tractor 1957, wich i rebuilt during lock down and funded by ferlow, thanks rishi, it just about manages 20mph with a tweek to the injection pump, so perfect with the new speed limits, exempt from ulez, free road tax, no mot, no electrictrnics to piss you off, [ just a starter motor ] got to have some mod cons, got a carry box on the back for the run to tesco's, going up in value all the time, turns alot more heads than the modern dull and ugly generation of crap vehicles on offer today, i can also mow my field go out logging and tow broken down computorised junk away, its the future, you know it makes sense, OH almost forgot its very handy in relocating those stupid plant pots some twat keeps blocking our roads with, love your vids must go for a pint sometime,,,,,,,,,
I love a tractor. If you get a David Brown, you practically own an Aston Martin, lol.
🤣🤣 brilliant, thanks for the laugh.
Perfect reply! Love it 😂 Can we all go for a pint & sort this crazy world out?!
Yeah my 1959 ford is still on the road - paid £350 forty five years ago and now worth £25000. No plastic and no electronics, even the radio is mechanical. It's got this amazing device on the door - you just turn it three times and the window opens. Two leather sofas front and back, clock you can see at a glance. Heater that's really hot, windscreen wipers and lights that you can dip with your foot. No neurotic voice nagging at you and no frecking bleeping every five minutes. Oh, and park in next to the latest 120K range Rover and the crowd will around the Ford.
yes motors of today far far too tec no need for it .they just can charge you more for it ,
Only owned EV's for last 5 years. Not one was leased. Sold each one on to a cash buyer too. Stopped watching when you quoted a Daily Mail article as that's not an example of journalism. I know people who can't use a smartphone - just like the supposed owner of that EV - isn't stopping me wanting one! Just helped a friend buy his 2nd EV (also cash purchase). I wouldn't drive anything else despite being a previous petrol head. There are no reasons to buy a fossil car - obviously ignoring biased propaganda against the idea.
I’m so very grateful I didn’t get caught up in the hype. As soon as I saw the price difference it was a no! Finding out about all the ownership issues just made it worse 😂😂
My Dacia Duster was three years old on a PCP. Chopped it in for another Dacia.
Brought at £17,500 in 2020. added 16,000 miles on it and now its for sale for £17,250 !
Never expected a Dacia to depreciate by that small amount.
how did you find them? I quite like them in orange with steel wheels.
I had a petrol XC40 which was £41k new.
I had it for 2 years before I chopped it in.
It was on the forecourt for less than a week before it sold. (Didn’t need valeting because I’m an avid detailer)
It was up for £40,000.
@@John_Wood_ brilliant cars.
Very undrrated by journalists (The genuine motor journalists rate them).
I am currently on my fourth Dacia.
Had two Dusters and two Sandero Stepways.
They dont handle like a mini or a fiesta but you wont be paying those prices either.
Had a Duster 1.5Dci - 50Mpg day in day out
Sandero 0.9l - great town car but a little strained on the motorway
Duster 1.3l 150 Bhp - Sh1t of a shovel but fuel economy wasnt great at 36Mpg
Current Sandero stepway - very good motorway cruiser (especially in auto gearbox. nice low revs), if a little slow off the mark.
@@BillyNoMates1974 Does that make James May a genuine motor journalist?
I wouldn't touch them with a barg pole like committing financial suicide.
How much are main dealers reselling used ev's for? Would be a good comparison to see what they are offering to buy them back at and then what they sell for. I smell a scam.
it is a scam buy it cheap then double the price to sell on.
it is fake, people sell due to they have to take any offer so dropping the value.
There was a dealer on the radio last week and he said he had two EVs on his forecourt £2000 less than he paid for them and they're not selling.
Almost all new EV cars are company cars and/or are lease hired, where every 3 or 4 years they just replace the car with a new one.
This situation isn’t going to play out until about 3 or 4 years time when the current lease hire deals expire and the market is flooded with 2nd hand EV cars that they can’t sell.
i wonder how many dealers will be keen on taking in used EV's when lease companies start offloading them once the lease is up?
Then we get to lease companies looking at how the market is going and bumping up monthly lease costs to cover the high depreciation. Those telling us how clever they are because they leased rather than bought their EV so depreciation isn't an issue, are going to look a bit sick once lease companies adjust for the potential losses they are facing if the EV market continues as it is
@@bat33.12 how many deals want you to know what thee mark up is.
not many will tell the truth about what they paid for a car
I've a friend who laid out £57k cash money for a Skoda EV just a couple of months ago.
He already calls it "that bloody thing".
Get his numberplate and mileage, I bet it's £35k now....
That's an expensive mistake
A few years ago if someone said a Skoda would cost £57K you'd buy them a bus ticket to the loony bin.
If you show him this video he slash his wrists 😊
Those Skoda's EVs are crazy money, they do a base spec and then have way too many option packs, which confuses the dealers and second hand market. People are spending 10k+ on options which they loose in value straight away as the second hand markets doesn't value them.
In Canada it makes even less sense to buy an EV, our cold winters decrease the range substantially and the size of Canada makes some commutes a lot longer than in the UK. Our Liberal government has stated that the sale of petrol power vehicles will be banned by 2035, ridiculous date and for of the Canada's northern territories EV's will never be a viable option. When idealistic Liberal government bureaucrats start making rules about things they do not understand it is bad for everyone.
and here is a question? What happens when the EV runs out of juice in an LA or San Diego traffic jam at rush hour? Are the freeways going to be littered with out of charge EV's? I think I will look at investing in tow truck companies.....
EV propaganda can't hide the fact that no one wants them. Thanks for the real world facts
True - poor people like you cant afford them
Autocar - The top 10 best-selling cars in Europe 2023 - at no 2. Tesla Model Y, 21,530 sales, +1838% year on year
I have one and I would never go back to ICE. So you are talking out of your backside. "no one wants them." You had better tell 35000 people who bought them in June.
Sorry, I said 35000 buyers but I was wrong, it was actually over 31000. Do apologise for that.
@@charlessmith2469thats because they are lease or fleet cars not private buyers thanks to the BiK, the lease price will go through the roof as depreciation is so bad.
The ev story is completely falling apart and I'm loving it.
To celebrate I'm going for a drive in my 20 year old V6 MG that's worth more than I paid for it 8 years ago.
I love this comment
Now that's a proper MG not like the crap coming out of China now with MG stuck on the front.
My run around is a 2005 Fiat Van. Had it 9 years, never once let me down, it's in great condition, paid £2500 for it so it owes me less than £300 a year. And as ULEZ approaches, i need to sell it and been offered £1000, so it owes me just over £100 each year I've owned it. Now that's cheap motoring!
I'm driving the sister (Rover) car.
@@joebloggs4191I can vouch from what I have heard from my brother who currently works at a volvo, polestar and MG dealership that the new MG's are built terribly. Saying that the Polestar's aren't that great either reliability wise.
I tried to feel sorry for them but sympathy is between shit and syphillis in the dictionary.
No need to feel sorry. Because EV owners know that most of the EV “ facts “ are just made up by people who listen to Talk TV, and have never owned one.
Losing $$$ on EV resale values are hip, cool and they makes you look so "green".....your skin gets so green that you look like a lizard-person...
Yeah Geoff but my understanding is that before the ink is dry on the sales agreement all new cars lose about 40% regardless of the fuel. So why should overpriced EVs be any different?
Your my hero, Geoff. You will kill the EV market single handed. 🗡🗡
I am trying. I filmed 3 today, the other two get progressively less serious because I couldn't keep it together when reading the articles!
The only thing that will kill him, is being suffocated by the amount of BS he produces.
Oh god🤦🏻♂️🤦🏻♂️🤦🏻♂️
Why would this be a positive thing in your view? Do you like breathing poison?
@@andytunnicliffe7223 No for suffocating amounts of BS that's the "climate change" cranks & zealots
I bought a used EV recently purely for the reason that I have more solar than I can use and I really like it for basically free fuel and pottering around locally, plus its a really nice drive. However, I'm never getting rid of my trusty 2013 508 SW diesel with a 900 mile range full tank. Good vid sir.
For local short trips there is no denying they work. But the way they are being marketed is that they are better than sliced bread and will do exactly the same distances as the petrol and diesel cars will do.
@@bentullett6068 the majority of UK car is is short trips
@@ItsAllJustBollox they are but if you live in a flat or terrace house with on street parking and don't have full access to a charge point your only option is visit a charging point to top up on electricity. Plus if you do require to go longer distances in a EV you will struggle as the cars actual range is less than what is quoted on the Internet or brochure.
@@bentullett6068 for the majority of car use they work well I can speak from experience I do a 50 mile a day commute the majority of car owners do far shorter daily use.
If I was doing hundreds of miles a day all over the country every day I would not have an EV I would have a petrol or diesel car in the same way if I was doing hours on the motorway every day I would not have a tiny city car its not the tool for the job.
People seem to think a car needs 600 miles of fuel range to work yet do 10 miles a day except the one or two times a year where they go further.
Why doesn't everyone drive a big box van instead of a car just in case they need to collect sonething big once a year?
@@ItsAllJustBolloxmy car does not do shirt trips I walk around the city and use it when I have to drive to another city
My snooty neighbour bought a new tesla 6 weeks ago. I've notice he has had a courtesy tesla out about 4 times in 6 weeks. The new motor must be giving serious problems.
They love to virtue signal😂
we can only hope.
Batteries have a limited lifespan. Once they are degraded replacement is prohibitively expensive rendering the vehicle useless. You would have to be insane to buy an older EV as it will just become landfill. This is not to mention the fact that some ferry companies are now refusing to carry EVs due to the self combustion issues and this will only spread to other areas.
I have no problem with ev deprication, I'm sitting here laughing my head off.
Using Nadine Dorres as an example of good judgement is one of the funniest things I've seen all year. Keep up the good work 😆
She is a bit of a milf though.
Sadly Geoff doesn’t always specialise in good judgement 😂
I'm not sure her decision to buy a BEV was good judgement. Poor judgement more like.
I think you missed the point.
Indeed, and in the Mail too!
The `people` moaning about your comparison, are probably the same hippie`s who own them 🤣
The truth hurts.
We can only hope. Let's kick these EV's into the long grass.
Why do you think that would be a good idea?
@@jimjones-bk2is because they're shit, and their carbon footprint is horrendous.
@@jimjones-bk2isbecause they're shit. Did you even watch the video?
@jimjones-bk2is so the climate nazis accept , their not good or ideal for everyone and people should have the FREEDOM of CHOICE to decide , NOT be FORCED by the said Nazis !
How about we let free market decide. O yes we don't have free market
Had an iPace for 3 years on a lease as I was a little worried about longevity. Loved the car but decided to replace with a Tesla Model Y which I bought outright - plan to keep it a minimum of 10 years as I’ve retired. I’m not an EV evangelist as such - I love my petrol bikes and am looking for a classic V8, but do love EV as a practical daily.
Sadly your battery won’t last 10 years without significant loss of efficiency and eventually failing completely. Don’t hang on to it for too long as older EVs with failing batteries will be worthless just landfill
@@chrissmith4022 Nonesense scaremongering. Plenty of 10 year old Teslas out there already with batteries still at 85-90%.
@@chrissmith4022nonsense. The vast bulk of Nissan Leafs are still on the road & the early ones are 12 years old now.
@@chrissmith4022that’s utter rubbish. ICE cars also lose performance across 10 years too. Do some research and stop pedalling myths created by the oil industry funded media.
Looking on the bright side ....you won't need to buy a coffin of pay for cremation, it comes free with your EV 😜
My diesel Volkswagen bought it 22 years ago I think for about $21,000 I was offered $8000.06 months ago. Of course I said no because it’s irreplaceable now.
I really enjoy your videos Geoff.. so I’m a ex trader in used vehicles, in the overall sale price figure, vat will be needed to be removed at 16.6% yes vat is charged at 20% but in the total it’s the 16.6%. As I said earlier on I’m a ex vehicle trader, I stopped trading in late 2019 as I could see this F@&kery coming in back then. I enjoy your straight talking and explanations in to what’s going off in the world 🙌🙌
Thanks Harry!
Apologies if this is mentioned Geoff - I haven't watched the video yet but yes! Renault Zoe's can be bought with less than 15k miles for about £12,000. That's 10 year old Golf levels! My mum recently tried to trade hers in, and despite being less than 3 years old, she was £2,000 in the red on her finance deal. Crazy!
Wow…. And she won’t be alone, as you can see from the video!!
Tbh I work in car finance. Many cars irrelevant of motive power can be ‘in the red’ When traded in with finance. People keep tacking ‘end of loan balloon payments’ on which makes the load more affordable but you do not repay enough to keep ahead of depreciation.
So the secret with EVs is buy a used one not a new one. 😉
Just watched your videos for the first time. LOVE IT. I only drive old luxury petrol cars and if you look after them they are reliable, lovely to drive and either hold their value or tick up. Perfect!
Same here 👍🏻
I bought a 19 year old Mercedes E320d one year ago for £1950. Spent a grand bringing it up to spec. Just passed mot with no issues. Great mile muncher and super comfortable. 5:33
Yup me too picked up a 08 bmw 540i v8 with only 21000kms for NZD 16k (£8000) in Mar 2022 at peak EV craze. Its amazing! So reliable. Only issue so far after 25k kms is rubber boots replaced on suspension . Does average 700km per full tank . ( 80% rural driving) . It’s so luxurious AC superb in our 80% 28 deg c humidity here and looks awesome compared to most modern cars IMO . I honestly like it more the longer I own it. Great feeling too knowing your saving $10s of thousands p.a compared to all the EVs here in my city Auckland. There everywhere now .
It's not just the purchase cost, inconvenience of trying to find a charger, hoping it works or isn't busy when you eventually find it (because they're not always where the maps say they are), worrying if you're going to have enough charge to get there, have to plan your journey to make sure you do find one, then have to wait for it to charge, put up with service station crap at top prices while you're waiting, sit in their plastic cafe or sit in the car while it's charging if it's freezing or raining, and so on.
But that's all you ever get from EV fans, "you're wrong", no matter what the facts say, no matter what the experience is, no matter what the stats say. Heads stuck in the sand whilst wearing their rose tinted glasses.
You are so right, bro.
I think the disconnect is that people expect to use an EV just like they have always used ICE cars. If you're the kind of person who drives to 30-60 miles a day to work or wherever and you get home and just plug in your EV every night, then an EV works just fine. But if you want to drive from full to empty then go to a charging station to recharge like you're going to a gas station, or you drive over 60 miles per day or you like to go on long road trips, then you're probably going to be disappointed with an EV. EVs work great for people who have a lifestyle that is compatible with them. For other people ICE vehicles are a better choice.
@@rreagan007 Yes, almost certainly that's the issue for many people but it's more than that. What people cannot accept is that we're in the 21st century and don't expect to go backwards in any way, like having to plan your long trip for charging purposes, or spend a lot of time charging your car and at double the price that you normally pay for your fuel on the odd occasion that you do go away from home.
Days like bank holidays must be an absolute nightmare. I saw half a dozen Teslas queueing in a not particularly busy motorway service area last bank holiday Sunday, and that was only 10 a.m. Now Tesla have opened up their charging points to other brands - and make no mistake they have done it for profit, not for the befit of mankind - it's likely to get worse rather than better, as Tesla chargers will now be much busier and the powers that be are likely to feel less pressure to improve the network quickly, which I don't think they should be doing at taxpayers expense anyway.
But I think the main opposition rises rom the fact that they're being forced upon us whether we want them or not. That is not how a democracy is supposed to work and many people, myself included, see it being more about control as our states become less of a nanny state and closer to a police state. The EV brigade don't help with their attitude which seems to be something like "These are the future so you'd better get used to the idea whether you like them or not", and that is not how it should be. If they were that good there should be no need to push them, they should sell themselves.
@@mikebreen2890 There are so many issues with your statement that I don't know where to begin, but here goes. Of the few people that are buying these - and it is a small percentage of the overall new car buying public, despite the incentives and huge price drops - there will always be those who don't want to be outdone by their neighbours, as they see it, but that doesn't mean EVs are any better. The "naysayers", as you call them, are in the vast majority at the moment, the sales figures prove it, in fact the ratio of ICE cars sold to EVs is so big that it's not even a debate. If that's what people prefer that doesn't make them look stupid, in fact it makes you look stupid for even suggesting it. You must remember that this about CHOICE, and if you're trying to take that choice away from people then you're a lot worse than stupid.
"There are still issues with public charger reliability, availability and ease of use". Correct.
"Unfortunately, EV take up is outpacing charger installation". Correct. Now try putting two and two together and see what you come up with. I'll tell you - your second point makes a complete mockery of the rest of your statement relating to public charging, because it means that the situation is getting WORSE, not better. More cars per charger means more difficulty charging, so no, the issues are not being tackled, they're being ignored. There is no evidence whatsoever that there will eventually be enough chargers for everybody, all we hear from you lot is "it will get better in the future" but that's no good to us now and there's nothing currently happening at a fast enough pace to suggest it will get any better - you admitted it yourself!
Let's continue shall we?
"Availability is an issue" - Correct.
"EV's are becoming so popular... " - Incorrect. VW, Mercedes and others have had to pull back production because people are not buying them in the numbers expected. Even the supposedly popular Tesla even had to cut prices by 20% at the beginning of the year to boost sales, the highest discount EVER given by ANY motor manufacturer in the entire history of motoring. Had they been as popular as you claim then those discounts would have been made by ICE car manufacturers because they couldn't shift them, NOT an EV manufacturer.
Depreciation and affordability - Yes, they are becoming more affordable on the used market BECAUSE of depreciation. That's not a good thing for those who bought new or those tied into an expensive leasing contract. Heavy depreciation is a bad thing, not a good one and is one of the main reasons that most people are not buying EVs. Your argument is now beginning to look really silly, we're three-quarters of the way through dissecting your post and you haven't come up with a single good point that would make anybody want to buy yet.
Whether you want to call them rich people's toys or not is up to you, I've never heard anybody use that as an argument against them. They are more expensive than ICE cars for an equivalent specification and size without a doubt, and insurance and tyres are generally more expensive. Even the Tesla Model 3 is the top insurance group, in a far higher group than my Jaguar and the tyres, although smaller, are more than double the price for the same brand of tyre. So given that buying a car is expensive, especially in the UK, it's obvious why most people don't want to pay even more for something that's more hassle, because you can argue as long as you like but until you can fill up and go in 5 minutes from just about anywhere in the country they're less convenient, and I and many other people do not want that, simple as. As for servicing, the cheapest price I've heard of is £200 from Tesla and that seems expensive to me on a car that apparently has nothing that needs to be serviced. You'll currently have to use a main dealer, which are top price, whereas you can get car serving done anywhere now very reasonably. New car buyers are generally not that bothered anyway as it's generally covered in the lease price.
Finally, you keep telling us about "the benefits of EV's" but apart from cheaper home charging, which is no good to half the country because they can't charge from home, you haven't managed to name a single one in this or any other of your countless posts. Carry on trying to convince yourself, because you're not fooling anybody else.
@@mikebreen2890 Sorry, but you don't get to write as much EV nonsesne as you want then decide how long a reply should be. You either want to debate your case or you don't. I assume therefore that you don't. I don't care either way, I have better things to do anyway.
See “macmasters last videos…… when asked why dont you get rid of your car…….. would cost him £10k to hand it back….depreciated to the point of negative equity………hahahahaha
Gave the poor guy a heart attack :( - EVs are really bad for your health it seems!
Love it! Glad I bought my 2016 diesel in 2020, it's worth roughly the same now as what I payed for it then 😊
I had a diesel Audi I bought in 2021. 2012, 40k miles. Sold it a few months back for £70 more than I paid for it with an extra 21k on the clock. A very good deal I’d say 😂
I think the sensible thing to do is to buy a really good quality used vehicle in top condition and keep it until this EV madness runs it’s course.
@@davidarter6271 or buy something you like in reasonable condition and repair/maintain it. Parts are often cheaper on older models and also you have more choice in the aftermarket. Too many people scrap perfectly serviceable cars for the slightest issue.
It really isn't though. That's just inflation.
@@varmastiko2908 why can't the same generally be said for electric variants of the same make/models?
If EV's were meant to be a real solution to anything they would have had swappable batteries in different sizes. They would not have sold the batteries with the cars. you lease them afterwards. You swap or recharge them. You own the car not the fuel. The batteries stay in a manufactures recycling and rebuilding loop. Car bodies always update the batteries. Standardized plugs.
The batteries are a hard depreciation in EVs. Making it so the customer has to buy the batteries, and subsequently pay to replace them etc, was always the hallmark of a scam. What happens when a battery model is no longer in production due to technology moving forward? Twenty years from now, your car is just totaled because the battery went kaput? One of the defining things about regular engine powered cars is that you can always just replace anything in the engine, including the entire thing. You can pop whatever engine you want in whatever car you want, and are only limited by the size of the engine bay. The engine bay which you can modify the chassis around in order to make as big as necessary, including even chopping up the interior of the vehicle to stick it elsewhere.
You can't do any serious modification to EVs. Any serious modification efforts would require the entire car to be rebuilt effectively from scratch, since everything is hardwired and precision engineered together. You can't just take an EV motor system out of a Tesla and pop it into a Honda EV. The entire concept relies on "this technology is functionally complete in design", when cars have literally never been at that point and gas-powered cars are just now only reaching that level of "as good as it is going to get".
Why would anyone want to modify something that works? 3rd party battery replacement for Nissan Leaf is here
@@gwilymselwood and how long are those third parties going to make the compatible model? EVs will run into the same problem that anyone that owned a Pontiac experienced when the company went under. As soon as there isn't anyone making the replacement part, a minor break will total the entire vehicle.
@@gwilymselwood I enquired at a 3rd party NZ company, and an old Leaf battery is considered not fit for purpose once it has degraded to 65% of its original capacity. They wanted $7800 NZD to trade in the 65% battery and replace it with a second hand battery with 80% of its original capacity. So around £3800 for what equates to 1/7 of a battery.🤔
Very good point!
I suggest that you keep hold of your electric cars because you are only adding to the mounting negative’s on EVs Don’t forget why you bought the car in the first place I have a Citroen E-c4 and the cost per mile is about a fifth of my previous Evoque and it’s a lovely car to drive so smooth 😊
The top 10 depreciating cars for July were all electric Ev's. The biggest faller over 12 months was the Tesla model x that lost 29%, also in the top 10 was the Aidi e tron,, Jaguar I pace,, bme i3,, cheers Mark
As expected with expensive cars to begin with. The biggest faller though was a Vauxhall Mokka E - but it's more expensive than a Tesla 3...
So I live in South Australia and I was curious about the possibility of owning an ev because they are trying to push it here too.
My daily round trip is 90km on roads at either 60 or 110km/h. First issue was that the “range” of an ev is actually city travel not highways, so it’s generally you get about 2/3 of the claimed range on highways because they actually do better the slower you drive. The second issue is that the range drops fast in the first 2 years then is a slow descent until it just dies one day.
What this means is that most of the market becomes worthless very quickly for long distances (and that’s not even looking at the occasional drive from Adelaide to Melbourne which is the closest next city on but is 800km away).
MG ZS Ev with big 72kWh battery will get you covered. Question is is your electricity cheap so it makes economical sense too
I wouldn’t worry about the range. First of all, if the car’s range is specified according to WLTP, your actual range will not be too far off, whether you’re on the highway or in city traffic. Most decent EVs do 400+km on a charge, so factor in some battery degradation and extra power for heating / aircon and you’ll still be able to do your commute with power to spare.
As for the batteries: most of them will likely outlast the rest of the car; they are certainly good for 300,000km, and will not degrade that far over their lifetime. The problem, especially with second hand cars, is that word “most”. Any second hand car comes with risk of something breaking, but with an IC the cost of repairs will be worth it if the car is still relatively low mileage. But if the battery in your EV breaks, the car is essentially worthless. Given the extremely low failure rates of these batteries, auto manufacturers will likely offer increasingly good warranties on them. Some brands have a 7 year / 200,000km transferable warranty on them, but once they have better stats on them (and are interested in a good 2nd hand market), they could double that.
I drive from Sydney to the Gold Coast twice a year, no issues. Have had my EV 2 years, no range drop. The savings add up very quickly, never going back to gas.
I live in country Western Australia and an EV makes no sense here in my view owing to the distances we travel, the lack of charging infrastructure and the cost of electricity. If you are seriously considering an EV, you really have to do your due diligence. Any motor vehicle is just a tool that provides personal transport. One of the huge benefits of owning your own vehicle is convenience. You can decide to hop into at any time and transport yourself somewhere quickly. The beauty of a liquid fuelled vehicle is that service stations are prolific and abundant. Refuelling is also very quick. I can drive 600 km in my vehicle and refuel it in five minutes to get a further 600 km of range. Very convenient.
How the individual actually uses the vehicle has to be considered. South Australia is also a very large place. So range is a factor. From just a convenience point of view, the first thing to do is to keep a logbook over a three month period recording how you actually use your vehicle. Reset your trip meter every time you fill your car and record where, when and how long it took you to fill up, plus the cost of each refill. Are you a well organised person who fills up every week/fortnight or do you wait until the fuel warning light is on before you fill up? Do you have off street parking, so you can charge up over night? Do you own your own home or are you renting? Charging an EV using a conventional 10 amp power point at home is slow. Can you get a fast charging transformer installed and at what cost? Where are the charging points along your route of travel? Are they in places where you are happy to spend an hour or so waiting for your car to charge? Is there a queue for them? An EV isnt like a liquid fuelled car. You cant put a jerrycan in the car on a country trip to top the car up to get you to the next fuel station. So you need to be well organised and patient.
The point of these questions is to just alert you to the fact you need to do YOUR due diligence. Not someone else’s. When people tell you how great an EV is and how they can do a b or c in it, that’s all well and good. But they haven’t given full disclosure. They may be perfectly happy to live with the drawbacks of an EV as they gain so much satisfaction from the other attributes. All power to them I say. But you aren’t them, and they aren’t you. In my life experience if we are going to make choices we are really happy with, they need to be fully informed ones based upon an objective analysis of our (not anybody else’s) needs. Most of us evangelise our own choices because we like affirmation, so take with a grain of salt anything I or anyone else tells you about what decision to make. Especially if they haven’t taken the time to go into detail with you about what your needs are. An EV may be a great choice, it may be a poor one. Only a clear headed objective analysis will tell you.
@@bruiser6479 I agree. If long range is a factor, waiting for the technology to supersede the range of ICE vehicles would be better.
Deep Green mining is where they dredge the ocean floor for rocks that contain metals needed for electric batteries. Very environmentally friendly!
@@mikebreen2890 what's bull about it?
@@syddog44hes got to be woke because they dont like the truth
@@mikebreen2890 There going to start mining for Lithium in cornwall
How about oil production, transport, refining, waste and pollution? Not to mention low efficiency and air pollution. Look properly at all the facts on both sides.
Wouldn't buy one
My brother paid £22,000 cash for a 22reg Hyundai ionic in august this year [don`t ask me why ] same dealer offered him £15,000 in november. he`s covered less than 1,000 miles [now showing 22k on clock] KEEP AWAY FROM EV`S
That one guys EV had a max distance of 140 miles fully charged..... I used to own an early 90"s Harley Sportster with a 1.5 gallon tank and it would go 120 miles before needing filled. My current ICE car, 2018 Kia Soul, gets nearly 400 miles on just 12 gallons of petrol. Here in the USA I can fill that Kia for around $45, in about 5 minutes at the pump. Easy Peasy, lemon squeezy. I can't understand how EV owners settle for such low ranges on these new cars, knowing they will have to spend an extravagant amount of their time waiting while charging. It just doesn't make any sense. Why on earth would someone spend a bunch of money for more inconvenience?
Been there, done it!
Had a Jaguar I Pace on lease. Only had it because of the tax benefits.
After my EV experience with public charging, I've now bought a petrol car.
Yes public charging sucks and is expensive
Home charger is the way to go. Public chargers are unreliable yeah, but numbers are increasing. Due to unforeseen circumstances, I drive an I pace, scarily exspensive but its a bloody good car. So far.
@@PatLadsChan99 Without home charging I wouldn't own electric car. I do it because its cheaper than fossil but recen electricity prices make it not so nice.
@@PatLadsChan99 I agree, I had my I Pace for 3 years, it was an amazing car to drive and perfect for anything up to a 180 mile round trip but anything over that spoiled my driving experience because I'd spend the whole journey worrying about charging. Only had one issue with the car, I put it on a fast charger when it was already at 80% and it overheated the battery.
I remember the inconvenience of remote control car with flat battery as a child and the dred of knowing it required 8 hours to charge...
I have built electric mini bikes for the grandkids and use lead acid batteries the last replacement cost $200 I worked out that the bike had done about 200km max I can fill my Ford Falcon ute twice with $200 and get 1300km range
They've come along way since then.. 😂
Hi Geoff, I have and eight month old Dacia Sandero Bi Fuel, I paid £13500 for it, but according to parkers the garage price is worth £14,500, how crazy is that
You should have brought them,,,,its simply,,,,you learn by your mistakes,,,,had my disel vw,,,3 years,,,,its worth more now than i payed fir it,,,,,,,its simple,,
12 months ago, when I had my BMW i4, Porsche Taycan's were worth more used than new, because you couldn't get one. I actually ordered a Taycan in November 2021, and was quoted a year to get one, and as i couldn't really afford it (it was just fun to order) I cancelled and ordered an i4 instead. I still had to wait 7months for the i4, but again, the used value was higher than the new, so wheyhey!!!! Finally going to make money out of a car. How wrong. Firstly, my three months of ev ownership were a nightmare to the point my wife refused to go in it anywhere but local Tescos. Claimed 3330 mile range, actual as low as 160 miles, half of what was claimed. To cut a long story short, I gave up and swapped the car for a BMW 530e, the hybrid which is very good, and took the financial hit, although being early in the depreciation cycle, i only lost £10k. From the point (Christmas Eve) that I asked to change my car, to the point of completing the deal (Jan 7th) Arnold Clark went from refusing to take any Tesla as a PX, to refusing to take any ev they had not sold, as a part ex. In my three months of ownership, the waiting time to get a new i4 went from 8 months, to stock we can't get rid of. As a mass selling product the folly of ev's has been found out.
There is a saying, the fool and there money are soon parted. The big con. Electric cars.
I have a friend who earns good money, he currently has a 5.7l dodge challenger but said he would like an electric car next. I told him to lease one instead of buying, simply because ownership would be a financial nightmare.
Lease companies are now seeing EVs as a massive risk as they have lost lots of money recently, you pay for that risk lol
Electric cars are a joke, ! Peugeot e-2008. We were told 240 mpc. I drove it extremely careful with everything off, heating, or air con, sat nav screen, eco switch on, avoiding sport & normal modes, and we got around 80 mpc.!! We waited 11 months for the car, & struggled on with it for eight months, very very inconvenient time of our lives, it was a constant worry, and very disappointing, swapped it for a diesel rifter, adblue, euro 6.2. 😃👍❤️. Life is now back to normal, no stress, no hassle, can do long journeys again, fill up just about anywhere, and in minutes we are underway again. 😃 brilliant. A big shout out to motability & allied mobility. After doing lots of research on Ev’s we now lean that electric cars are actually much worse for the planet, and there are so many bursting into flames, I’m so glad it’s gone, my wife is severely disabled, and to try and get her out of a burning car, in an emergency, would be a total nightmare, and possibly fatal. Even worse on a so called, SMART ! Motorways ! In a live lane !! ☠️☠️
Not happy! “Bought” my Q4 etron for £53k with only projected 20 delivery miles. Ran this through we buy any car (minimum miles put through allowed 200) has valued it at £35k. I haven’t even sat in it and lost £18k after 20 delivery miles 😢
Whilst my PCP Audi a3 saloon (petrol) I’m selling has appreciated; GFV £10,000, we buy any car quoted £13.5k
My dad got a brand new Honda Accord mk7 executive with cruise control, sunroof, heated electric seats back in 2003 for £18,000. I was born in 2002 so the car is almost my age, last year I passed my driving test and now I own and daily it. Mileage is at 90k and the value is still £3000. Definitely a car that will outlast my driving years.
Excellent! Great story and super relevant to EV depreciation.
I commented on Lee's video the other day the evangelists will never admit they've fell for the great con EV is the way. It's the way to financial ruin
Can someone try and expain how buiding millions of car with batteries are good for the enviroment,or scrapping perfectly good cars tha could be converted !! i have an old car that COULD IF I WANTED converted, remove the engine/gearbox etc but all the firms i email have said the car is NOT A CLASSIC wtf so they cant/wont do it,i bet if i offered a lot of money they would find a way,on FULLYCHARGED they looked at a french startup dealing with EV kits but dont know whats happening with them.
I purchased a new Porsche Macan in Nov 2019 for approximately £52000. I have just sold it to We Buy Any Car with 27,800 miles on the clock for just £37800. Thats a percentage drop over four years of 27% say approximately 7% for each year. Just awaiting arrival of my new Macan which will be my third. Never in a million years would I every bit EV
Thank god they are depreciating. Give me a great chance to get a cheap runabout and save money with Octopus 8p /KWhr hour rather than the rip off public chargers 53p/KWhr. That's £1000 saving each year over a petrol. Within 18 months I'll have recovered costs on a petrol Zoe equivalent and it has better performance. After that saving £1000 per year over petrol.
All these Tesla owners are standing out like a sore thumb, every time we see one we burst out laughing but genuinely feel sorry for them at the same time. “Tesla Turd” is the call out 😂
We are on holiday. We drove 300 miles to the hotel and have driven around all week and have not plugged once. We are in our Hyundai i10 with 100 miles left in the tank
Agree entirely Geoff but EV's do have a place.
1. You don't do a lot of miles (
This is a scenario where an EV makes some sense. You really need someone else to have taken a huge depreciation hit before buying one. If you are doing a lot of short, stop start trips where an ICE never really gets to its optimal operating temperature, an electric engine is better suited to that pattern of use. But there are a lot of caveats. As you say you really need your own home charger and most of your distances traveled in a day would need to be reasonably short. To work out if the economics stack up, you would still need to compare it to buying a budget priced second hand ICE vehicle.
@bruiser6479 ...plus the fact it's different, quirky and fun.
I'm a confirmed petrol head - I've built modified cars, kit cars, bikes, classics, regular trackdays etc but our little EV still makes me giggle when I drive it for sheer novelty value.
Variety is the spice of life so they say!
@@catfrab I totally agree. I drove a friends Tesla, and it was an absolute hoot. I really see the appeal of an EV as a driving experience. Obviously in your situation an EV really works. My Harley isn’t a practical transport choice, but I wouldn’t be without it.
My objection isn’t to EV’s, it’s to politicians stupidly seeking to force all of us to get one. Even though they just won’t work here in Western Australia if you want to to travel long distances in the country, and/or tow anything any sort of distance. I definitely think they have there place, but people should be left alone to make their own choice.
Well said
I’ve been looking at 2020 Nissan leafs
With like 15k miles on them
For 14 grand
Last year a 3 year old leaf was 20k plus
( think they are about 32 new)
This huge price drop is great for sensible folk to buy one after some goon has lots 20 k in a few years
@boyasaka Yep, there are a few bargains out there if you look. Have a browse at the eGolfs too. Just like a GTi but electric. You can pick up a nice one for 10-12k.
A couple of points which are true. firstly, yes, it is more environmentally friendly to continue to drive an old car than buy any new car, EV included. Sadly, that's not in the interest of the car industry. Hence, they build cars to have a shelf life and encourage a throwaway-get something new lifestyle. Secondly, this big depreciation just illustrates how overpriced the cars are/were when they were sold.
I bought, on PCP, in 2020 a new VW ID3. I absolutely love it, but it was well beyond my wallet. Back then, several things happened. The government had a £3000 discount on all EVs. Then, because of the EU (who we were still in at the time) putting in place stricter emission rules, VW were desperate to sell their new car, so offered with another £3000 discount......AND....on top of that, the dealership I bought mine from worked out it was better to sell the car than face a fine for failing to hit their emissions target on cars sold, so put another £3000 discount. This £9000 off the list price meant I could afford it. So I put £5000 down as a deposit and am 2.5 years in to a 4 year PCP deal.
List price £39000. Actual price £30000. Deposit £5000. Currently on webuyanycar, my valuation is £19000. That's not too bad, but I'm certain my position is rare and the vast number of people buying EVs are not getting anything close to a deal like that, because EVs are overpriced.
Y'all GOT PLAYED! MY 2020 CHEVY PICKUP IS WORTH AROUND 15K MORE THAN I PAID FOR IT 😂😂😂
I'll stick to my diesel thanks..
The AA’s analysis of its own used car sales website shows it’s possible to buy a Hyundai Ioniq Premium, which has a £43,445 new cost but can be bought secondhand for £17,500 at only a year old.
That is insane
Have you a link to that ?
Making depreciation great again
I bought a new Skoda Enyaq in December 2022. It cost £41K. I have covered 2,000 miles. We buy any car has offered me £24K. Never again will I go down the EV route. It’s not just the depreciation but the lack of working chargers on a less than good infrastructure seals the deal to go back to petrol or diesel.
My Brother owns Mitzy Shogun EV/Petrol 4X4 the drivers handbook "indicates" the max range on Battery is 180Miles best he has got is 133Miles before low power warning if he no engine he would be stranded WTF!!!!!
EV purchase remains utter madness. Massive and accelerating (excuse the pun!) depreciation, enormous and expensive hassle of charging (unless its the same journey daily back to your house to charge overnight say), uncertainty of range dependant on weather etc
Depends hugely on the choice of EV
@@djtaylorutube What he said is appilicable to ALL EVs. Even TESLA performs poorly in Canada's winter. There is no exception.
@@AkiraNakamoto I don't live in Canada thus don't care about Canadian winter :)
@@djtaylorutube You need to be more openminded to understand analogy. By the example of "Canada's winter", I really meant low temperature, which also occurs in any high-altitude mountain regions, for example, even in Southern California when people want to go to Big Bear Lake for skiing during Christmas.
@@AkiraNakamoto UK doesn't have high altitude either. :) I did enjoy piloting up to Big Bear though when I did my PPL in Socal, that's a good altitude and really demonstrates high altitude engine effects too. 50 feet per minute climb out rate over the lake not so much fun! :)
i was surprised to see a few Jaguar i-paces for around £25k when they are over £60k to start with so yes there would appear to be a problem with getting people interested in used ev's
They arent worth 25k once the batteries are knackerd thats it 6 years is the life time if the i pace is say 3 years old your going to lose £8,330 per year and then your car is scrap
Wtf are you wittering on about? The batteries don’t just magically stop working. There may be a very slow degradation over a number of years but “your” talking complete nonsense.
They are super ugly and cheap inside.
Noting like the German premium car
@@dantebg100 if you think the interior is cheap then I’m guessing you’ve never sat in one. The exterior appearance is very much personal preference, personally I think they look great, but you are of course entitled to your opinion.
Bought a Suzuki Celerio in 2019 on a 16 plate for £3800 doubled the mileage and sold it
January 2022 for £4000 and I let it go cheap.
Love The Smell Of Petrol In The Morning.
Electric or IC buying a new car privately is the worst decision you can make. You might as well drop the money down the drain. The only justification is the "I want the status of it parked on my drive so my friends and neighbours can see it" syndrome - and I've met loads of those. This viewpoint applies to both private and company cars by the way. Good condition and well maintained older IC vehicles win all round for me.
Surely all new vehicles depreciate. Have you done a comparison on New petrol and diesel cars as well. You probably won’t be that shocked because it’s the reason you like old cars. But be honest how much have you lost on that Volvo since you bought it including what you spent to keep it on the road. To what it’s worth on the same website. If you’re happy buying old banger’s be happy. But if some people don’t buy new cars you won’t be able to get their old ones either. Personally I like buying new. tried second hand in the past but I’m no mechanic and it has cost me in the long run and still lost money. The only way not to lose money on any vehicle is not to have one in the first place. Then what.??My last diesel car was a BMW 420D coupe, 2018 cost new £39950 Sold it in March 2023 £18600. Now got a Tesla not on lease but it was cheaper than getting another BM Running costs are lower and it’s nice not putting £120 a month in diesel anymore. Good Rant video and reminds me of my old neighbour that would never buy a new car, but did spend his weekends in scrap yards sourcing parts for his car. He would have loved eBay. Cheers.
I’m happy with my 162k diesel 2017 Passat and 1992 Sierra XR4x4. The latter isn’t loosing any money and drives perfectly fine. Just that CAZ and ULEZ zones would mean I’ll have to use the Passat more
My father had an XR4x4 estate of that vintage. I drove it once, great car to drive, he only parted with it because of the abundance of speed bumps in his area, he kept hitting the exhaust on the ground and breaking the exhaust manifold bolts.
@@6581punk fortunately mine clears the speed bumps locally to myself. I think as it’s a later car with the 15” wheels on it helps. I would imagine if it was an earlier car with the 14” wheels it would catch everything
I got rid of my electric a year ago even though it was only 2 years old. The supposed 196 miles dropped down to under 70 miles when the temperature dropped under 5 degrees.
I am on my 4th leased EV but won't get another because the car I have now, Nissan Leaf, which I purchased 11 months ago, has dropped 7K in value. Keep up the great work.
If they depreciate so much then the obvious thing to do next time is to buy one 1 or 2 years old and not lease.
Depreciation isn't just something on paper.
There is a reason for the acceleration of EV depreciation, that is how fast an EV goes from a functional vehicle into a piece of waste.
Hyundai Kona bought it 2019 for £36,000. It’s worth roughly £15,700.0 4 years old 30,000 on the clock and recently a few months ago had a complete new battery. Overall brand-new batteries fitted because they were setting on fire and I was told not to charge my car anywhere near my house which would’ve cost me a lot of money. I took no notice of their advice and carried on charging it’s cheap for me to go to work and back but I have long range anxiety like a lot of EV drivers slept in the car The first night I bought it from Leeds down to Birmingham because I could not charge the car on the motorway would not accept the car kept saying Internet down I put it on a slow charger slept in it with a wife for four hours to get it home. 😢
Hi Geoff, I'm not rich and I've owned my EV since July 2019, I've just decided to look at selling it and I will be buying another EV.
I bought an ID3 Family edition with alloys for £29k over 2 years ago. 2 year old family edition models are now selling on autotrader for £25k. So I guess it depends on which EV you buy. ps I'm not selling it as its better than any ice car I've owned.
I remember watching "Who killed the electric car?" some years ago and they had a three year lease. Worth watching if you can still find it.
Didn't GM have to do a hasty retreat and say there was a big flaw with the GM EV1's they had sold on lease, to get them scrapped off?
Not sure about the "Big" flaw but the people who couldn't renew the lease were not happy and were refused to buy outright. The vast majority were then scrapped in a coordinated operation. Interesting, compared to what's happening now.
Not an EV but here you go. 2014 Passat estate, 2.0l SEL I bought it for £12,500 at 1 year old, it’s now valued at £12,000. Depreciation of £62 / year or £5.2 / month.
Great example.
@@GeoffBuysCarsI’ll see how much it goes UP in the few months. 😂
Good buy
I've got a 14 month old Kia EV6. It's a good car, drives nice and plenty quick enough plus through the summer I can charge it for almost nothing as I have a large solar array. I won't be getting another when it goes back because come winter time the max range drops to less than 180 miles (and that's driving it like a nun). EV's are NOT the way forward.
My experience was completely different. My 2013 New model S I bought, sold 2 years later for the same amount I actually paid after the government rebate. At the time there was a huge waitlist. Just now we traded in our almost 3 year old budget EV and got 90% of what we paid new for it (after the rebate and sales promos at the time). Reason is our EV now is wayyyyyy cheaper that the other new EV's in the market and many do still have insane waitlists.
He doesn’t want to hear this, gets good clicks from petrolheads by playing to their prejudice
@@jsanders100 No point talking to EVangelists they know it all
Happy to subsidise your waste of money and resources. You’re welcome.
Government rebate means other people are taxed so that you can buy a car. How does that make economic sense?
Good to hear that it all costs in based on getting govenment (us that is) handouts/subsidies. So if we all have one we all pay our own subsidy and then the numbers can work. No, I thought not.
Got rid of my electric mokka last September just before this madness , luckily I managed to get £29,500 against new petrol Nissan, I didn’t lose too much as mokka was heavily discounted ,just made the 9 pcp payments. I count myself lucky ,just valued it after seeing this video on we buy any car, assuming it’s done average mileage now worth 15k . Wow !
Bought a 2018 Golf station 4M 150 Tdi 19 months ago, 44000km on it, now 50700km(don't drive much...). Though it might be a depreciation black hole since the EV sales really started to rocket shortly after. But encouraged by this video I had a look on the number 1 site for used cars Aaand there was only ONE car on sale with the same spec as mine and it hade 69000km on it for the SAME price as I bought mine for 19 months ago! 0 Depreciation over 19 months, not in my wildest dreams! Go Diesel!😊
Why did I choose diesel when I drive so little? I'm planning on keeping it for a while so I thought I'd be prepared if long commutes to work might lie in the future...
Every car you buy be it ice or ev will loose 20% vat. So a 40k car will loose 8k. I leased a Tesla model 3 and was the best car I have had. In 3 years the only thing went with it was a camera in the indicator. I remember all what went on with diesel vs petrol. On charge mine is home charged at 10p a kWh so that’s 70p a hour. So 5 hours £3.50 which gets me around 170 to 180 miles. In a car that’s goes from 0-60 in under 5 seconds with top speed of 140 mph. All cars loose money especially new ones.
You can cherry pick cost of running. I can charge a 100kwh battery for £7 and it’ll do about 280 miles. £15-16 for 600 miles. Just don’t buy new!