Should you upgrade? You're facing a massive depreciation hit, selling your used Taycan will be very difficult, and if you manage to sell it, it will be at a significant loss simply because there is no private market for EVs. The capital allowance you thought was good ends up not being good at all. After dealing with the problems that come with Taycans at a premium price tag, it would be foolish to buy another.
Something you might want to mention in a video is demo cars being classified as new, therefore entitled to a 100% capital allowance. It's a great way to buy any EV car with good specs at a discounted price. E.g. I just bought a Taycan 4S with 30 miles on the clock, full specs, discounted £35k. The HMRC manual (Google - ca23153) states, "even if it has been driven a limited number of miles for the purposes of testing, delivery, test-driven by a potential purchaser, or used as a demonstration car." I contacted the HMRC and was informed that limited miles mean under 500. Note: The demo car has to be registered to the dealership, not to an employee. Get a copy of the logbook and a letter from the dealership stating it's a demo car for test drives, etc for your records. Also, advise people to check with an accountant.@@TABonTV
I just priced a 2024 tacan tourism turbo s with extras £192k WOW do they not know how bad their electric market is. Have you seen Mark Mckan trying to buy a GT3 R/S and being offered £70k for a £172k new delivery mileage Taycan??
Hi there... 😉 ✌️ I just got our Taycan 4S Cross Turismo and the numbers of the facelift are.............impressive amazing! But! Would I change? Surely not. Why? First of all I'm losing about 80k € by selling mine as used one. Then I have to pay about 200k for the new one in same configuration! So over all I have to take another 120k € in my hands to get the new one. Is it worth it? When money 💵 is not your problem and give a damn on paying extra, then it might be OK or you're buying the new one as extra to your garage... 😉 So let's resume it for me. No, my car is fine enough. Sure I could get more range, but do I need it in Germany really? The charging infrastructure is very good now and so I get to a charge with pee pause and a coffee in about 18 minutes every 250 km at full speed... So what? For me it's okay by now. And maybe in 5 years when the new 4S Cross Turismo gets around as used car, I change my mind and the car... 😉 ✌️ Have a nice day and thanks for your stuff! 👍 ❤️ 🙋🏼♂️
Fantastic comment as always Joe. You're correct. It's a lot more financial outlay for probably a very disproportionate reward. Got to go with the head for this one! Take care!
Yes sign me up I just lost 53% and my Tycan so they're first thing I want to do is to jump back into and even more expensive version of the same car that's just financially crippled me
900+BHP & 2.5sec 0-62mph. Will get people killed! Then insurance will go through the roof! Not to mention that the base model is about half the price (£80K) and the new 2024 Turbo "S" will be £160K You could but TWO Teslas for that. Porsche/Ionity have 624 charging point. That is not locations. Mainly Porsche Dealers or high end outlets!
I’m curious to see the face lift in person. I actually don’t like the changes that much, but perhaps I’ll change my mind when I see it in person. In general though, not currently compelled to upgrade - I’m still obsessed with my Turbo. I absolutely love driving that car.
recently got my Taycan. I won’t be buying another one until the new generation comes out. If I do get the 2025 - it will be in 2028!! 👀 I prefer the old generation to the new fecelifted version anyway I love your videos! Keep them coming.
thank you for sharing the video. I'm looking forward to viewing the guidance video for self-employed individuals provided by your company. additionally I'd appreciate if you could include information on available used Porsche options too, highlighting any benefits this choice might offer.
There is some ‘value’ if you drop down a model due to the increase in performance. That is the best way of comparing the price of an old model vs the new one. A normal Turbo is nearly as quick as the old Turbo S, same for Turbo vs 4S etc. The extra range of roughly 340 real-world miles will be a game changer for most people vs the 220 miles of the old car. This will negate the need for fast charging for all but the longest road trips. Also some people will have skipped gen 1 Taycan, waiting for a big jump as with the .2.
You need your head examined if you buy a New Taycan unless you like burning money. The improvements are brilliant but at a massive price increase. Base Taycan with no options £86,500 and 4S £95,900. Who knows how the batteries will perform over time so you could see big range loss as the batteries degrade. The new exterior sport add on's to the Base and 4S are not worth £732 for some paint. I was looking at buying a 3 year old (nearly 4) 4S with the standard battery but £52,000 was too much for a 30k mile Taycan that might just about do 200 miles and only have 4 year battery warranty left. You can guarantee the government won't extend the company car EV scheme past 2025. There are over 700 Taycan's for sale on auto trader which are dropping £2k a month so enough said. Buy a Panamera or 911.
Vast majority of new cars (apart from limited exclusive models) depreciate - get over it. I personally will wait for the GT model before i upgrade my CT TS and no I don’t need my head examined.
By the time the battery degrades to be a problem petro station has prob go out of business haha, like the old days of film to digital camera transition
Only BMW's have dropped as much in a short space of time. Why are there discounts on registered cars and prices dropping £2k a month on used Taycan's ?@@ScrotieHongKong
In response to your inquiry regarding prices, specifically Porsche's base car priced at £160,000, the explanation lies in the 100% capital allowance tax. Dealerships are capitalising on this tax incentive and maximising its benefits. For instance, if I were to purchase the car new for £160k, a 100% capital allowance would effectively reduce the price to £120k. Currently, the private market for EVs is limited, with most sales geared towards businesses. The depreciation often outweighs the savings from the 100% capital allowance. In such a scenario, it might be more practical to pay oneself more, hitting the 40% tax threshold, and opt for a combustion engine vehicle as a private car. This approach may result in higher tax payments, but it avoids the complications associated with owning an EV.
The range improvement great. The power improvement.... more of a niche market. Hopefully if the range benefit is partly software driven then this will be rolled out to existing owners????!
Have they kept the AC only right hand charging port? Is it standard now to have an 22Kw on board charger or do they still want £4K. For an upgrade? Did you know anyone can unplug the A.C. Charger at anytime providing they press the button in the charging port! If they were on an EMotorbike they could watch you hook up & leave then unplug you & plug themselves in!
@@kevinburke6743 Well perhaps 10 meters are not enough... I would check again and if it really opens, I would report to Porsche. If that would be the case, you are also prone to theft of the charging cable for 11/22KW.
@@AppletreeGreen It wa at least 10Metre & though the house.I will be on to Porsche. I do not carry the 11 or 22Kw charging cables. I always charge on route or at destination. Did know that Home Chargers are not Chargers? they are high amperage extension leads! How mad is that? The Charger is in the car! Mine is only,11Kw. £4K for the upgrade. Just imagine if you had to carry your phone charger with you all the time? & the lead to plug it in?????
I have just purchased a turbo great car only done 4k miles bargain really yes it will lose money same as everything you buy especially cars all EVS are the same right now and petrol would I buy a new one no I’ll wait to get one at a discount not everyone can afford 150k that’s why decent used low mileage will always be worth something. I sold a cayman GTS 4 couldn’t give it away and that was a 73plate high spec I’m really happy with the taycan very quick indeed 😊
Youll lose about ,30k+ Turbo S guys lose the most from 150....to 80+ after 3 years. Used with a heavy discount with dealer needing to move it on. Save a lot. My bro has the 4S with Mission E wheels brand new. Few months ago. Now facelift is out.
Ev's are fine I drive a Tesla model 3 performance, love it to pieces but electric is just another power like diesel and petrol if you charge at home ev is fine and cheap,g but charge anywhere else it's petrol cost, I like the smooth drive and instant acceleration, I did not buy for some ecomental reason I charge at night no sun, generally not windy so thanks coal,gas, for charging my ev.
The ZEV mandate which will cripple car companies that dont make enough EVs and the EV salary sacrifice schemes here in the UK will meam the new tycan will sell pretty well.
Keeping my car. Facelift is 60% more expensive (for the same model with the same options) than my current 4S which i specced new in 2020. The range and looks of the new one is absolutely NOT 60% better.
I’m sure by now you are aware of the horrendous depreciation on Taycan, there are over 700 on Autotrader, if you do manage to bail out of your current car buy the next one using lease or guaranteed buy back (PCP), good luck 👍
The depreciation will make it impossible to PCP in future, the monthly payments will reflect the beating finance companies are taking on these cars right now.
I think you’d be mad to buy a Taycan with your own money. The outlay for what is basically the road going equivalent of a washing machine, is nuts. They only sell because people buy them new as company cars - there is no market for used, private Taycans and that’s why the depreciation on these cars is horrific. A second-hand Fly-mo probably holds its value better. A 911 on the other hand is a completely different proposition but only for a private purchase - benefit in kind tax on a 911 as company car is outrageous. Horses for courses, I guess.
No one in their right mind would buy this car. The tax breaks do not compensate for the horrendous depreciation. I have one , which I did purchase through my company - seemed a good idea at the time 😢😢😢. The car has irritating faults - hugely exaggerated range - the charging network lets it down with chargers either broken or operating at much reduced capacity. Wish I had bought a 911…
I was considering purchasing a Taycan, and sincerely searching for positives, but I can't seem to find any. As you mentioned, the depreciation outweighs the benefits of the capital allowance. Moreover, I'm concerned that selling these cars in the private market would be quite challenging unless you're willing to incur further losses. The EV market doesn't seem ready, and in my opinion, may never be. Just as I always suspected from the beginning, anything battery-operated is a pain in the rear.
Lol… porsche removed the tear drop on the base car and made it exclusive to the higher models… so if you don’t spend another extra 50 grand, enjoy your hyundai looking brick raised 5 feet off the ground.
Price. They will not replicate 150k sales in my oppinion. But we will see, in my oppinion 2024-2025 is peak EV craze, market will slow down the trend to EV will be slower now. The US is now in EV crysis and it will come to Europe in some extent, how much nobody can say for sure. We can say there are bumps ahead for EV forcing.
Upgrading ? Hell no..new taycan is overpriced..fast and better but why would be pay so much money to normal car because it is porsche ? Basic taycan is thr slowest electric car in the market with $125.000k price tag with options...come on porsche !!! With that old exterior design style eith 130k price tag why would i pay you !!!
Just lower the volume on your phone or computer. Volume just right to me. As to his excitement with the Taycan, good for him for all Taycans are great vehicle.
Should you upgrade? You're facing a massive depreciation hit, selling your used Taycan will be very difficult, and if you manage to sell it, it will be at a significant loss simply because there is no private market for EVs. The capital allowance you thought was good ends up not being good at all. After dealing with the problems that come with Taycans at a premium price tag, it would be foolish to buy another.
I'll be closely following things as the facelift begins to get in to the wild
Simple rule to live by for Porsches:
2 door Porsche - Buy
4 door Porsche - Lease
@@YumboYack2521 Makes sense. I wonder if the Cayman EV will change that...
Something you might want to mention in a video is demo cars being classified as new, therefore entitled to a 100% capital allowance. It's a great way to buy any EV car with good specs at a discounted price. E.g. I just bought a Taycan 4S with 30 miles on the clock, full specs, discounted £35k. The HMRC manual (Google - ca23153) states, "even if it has been driven a limited number of miles for the purposes of testing, delivery, test-driven by a potential purchaser, or used as a demonstration car." I contacted the HMRC and was informed that limited miles mean under 500. Note: The demo car has to be registered to the dealership, not to an employee. Get a copy of the logbook and a letter from the dealership stating it's a demo car for test drives, etc for your records. Also, advise people to check with an accountant.@@TABonTV
@@YumboYack2521that rule is for ICE vehicles!
I just priced a 2024 tacan tourism turbo s with extras £192k WOW do they not know how bad their electric market is. Have you seen Mark Mckan trying to buy a GT3 R/S and being offered £70k for a £172k new delivery mileage Taycan??
There's no escaping it. They've completely tanked.
He was offered £70k loss not price on the Taycans, so £100k each, but yes still very bad!
@@andrewhurstcarsthey're simply not priced right at list
@@TABonTV yes that’s why Porsche are discounting some cars now, which they never used to.
Hi there... 😉 ✌️
I just got our Taycan 4S Cross Turismo and the numbers of the facelift are.............impressive amazing!
But!
Would I change?
Surely not.
Why?
First of all I'm losing about 80k € by selling mine as used one. Then I have to pay about 200k for the new one in same configuration!
So over all I have to take another 120k € in my hands to get the new one.
Is it worth it?
When money 💵 is not your problem and give a damn on paying extra, then it might be OK or you're buying the new one as extra to your garage... 😉
So let's resume it for me.
No, my car is fine enough. Sure I could get more range, but do I need it in Germany really? The charging infrastructure is very good now and so I get to a charge with pee pause and a coffee in about 18 minutes every 250 km at full speed... So what?
For me it's okay by now. And maybe in 5 years when the new 4S Cross Turismo gets around as used car, I change my mind and the car... 😉 ✌️
Have a nice day and thanks for your stuff! 👍 ❤️
🙋🏼♂️
Fantastic comment as always Joe. You're correct. It's a lot more financial outlay for probably a very disproportionate reward.
Got to go with the head for this one! Take care!
Yes sign me up I just lost 53% and my Tycan so they're first thing I want to do is to jump back into and even more expensive version of the same car that's just financially crippled me
The amount of depreciation is criminal
How has it crippled you? You’re probably paying a pcp and will hand the car back at the end. If you paid cash for a new car, more fool you
Lmao ur just a moron. Everyone knows EVs depreciate way more then gas cars. Trust me it's not just the taycan.
People should not worry about depression unless you plan on selling your car.
Depreciation*
@@andre_hu no, you read that right, Depression. Depreciation = Depression 😂
900+BHP & 2.5sec 0-62mph. Will get people killed! Then insurance will go through the roof! Not to mention that the base model is about half the price (£80K) and the new 2024 Turbo "S" will be £160K You could but TWO Teslas for that. Porsche/Ionity have 624 charging point. That is not locations. Mainly Porsche Dealers or high end outlets!
I’m curious to see the face lift in person. I actually don’t like the changes that much, but perhaps I’ll change my mind when I see it in person. In general though, not currently compelled to upgrade - I’m still obsessed with my Turbo. I absolutely love driving that car.
They are fantastic. The new one ups the bar even more... Tempting but also very costly!
recently got my Taycan. I won’t be buying another one until the new generation comes out. If I do get the 2025 - it will be in 2028!! 👀 I prefer the old generation to the new fecelifted version anyway
I love your videos! Keep them coming.
Thanks for the comment! A lot will have happened in the market by the time we get to 2028. Exciting times!
Does the new Taycan have over the air software updates like the Tesla models?!
I'll need to find out on this. My guess is not, much like the current version.
The older Taycans have over the air software updates after first visit to the shop :)
Nope
thank you for sharing the video. I'm looking forward to viewing the guidance video for self-employed individuals provided by your company. additionally I'd appreciate if you could include information on available used Porsche options too, highlighting any benefits this choice might offer.
Thanks for the comment, that video is in the works! 👍🏻
Waiting for the GT2RS in 2026 put down payment $300,000 at a dealership
There is some ‘value’ if you drop down a model due to the increase in performance. That is the best way of comparing the price of an old model vs the new one. A normal Turbo is nearly as quick as the old Turbo S, same for Turbo vs 4S etc. The extra range of roughly 340 real-world miles will be a game changer for most people vs the 220 miles of the old car. This will negate the need for fast charging for all but the longest road trips. Also some people will have skipped gen 1 Taycan, waiting for a big jump as with the .2.
You need your head examined if you buy a New Taycan unless you like burning money. The improvements are brilliant but at a massive price increase. Base Taycan with no options £86,500 and 4S £95,900. Who knows how the batteries will perform over time so you could see big range loss as the batteries degrade. The new exterior sport add on's to the Base and 4S are not worth £732 for some paint. I was looking at buying a 3 year old (nearly 4) 4S with the standard battery but £52,000 was too much for a 30k mile Taycan that might just about do 200 miles and only have 4 year battery warranty left. You can guarantee the government won't extend the company car EV scheme past 2025. There are over 700 Taycan's for sale on auto trader which are dropping £2k a month so enough said. Buy a Panamera or 911.
My bro bought 4S and now facelift is here lol. He,ll lose 20k to 25k but not as bad as Turbo S guys
Vast majority of new cars (apart from limited exclusive models) depreciate - get over it. I personally will wait for the GT model before i upgrade my CT TS and no I don’t need my head examined.
By the time the battery degrades to be a problem petro station has prob go out of business haha, like the old days of film to digital camera transition
No mate if you rapid charge a lot you could see 30% degradation within 8 years. That would be 100 miles of range. @@williamchen5832
Only BMW's have dropped as much in a short space of time. Why are there discounts on registered cars and prices dropping £2k a month on used Taycan's ?@@ScrotieHongKong
In response to your inquiry regarding prices, specifically Porsche's base car priced at £160,000, the explanation lies in the 100% capital allowance tax. Dealerships are capitalising on this tax incentive and maximising its benefits. For instance, if I were to purchase the car new for £160k, a 100% capital allowance would effectively reduce the price to £120k.
Currently, the private market for EVs is limited, with most sales geared towards businesses. The depreciation often outweighs the savings from the 100% capital allowance. In such a scenario, it might be more practical to pay oneself more, hitting the 40% tax threshold, and opt for a combustion engine vehicle as a private car. This approach may result in higher tax payments, but it avoids the complications associated with owning an EV.
Exactly, I touched on this towards the end but it's a topic probably worthy of its own video.
The range improvement great. The power improvement.... more of a niche market. Hopefully if the range benefit is partly software driven then this will be rolled out to existing owners????!
I hope so too also!
15% of the 21% increase in the RWD range is down to the larger battery
I think a lot of the range benefit is with the battery / motors unfortunately (my guess).
Great breakdown
Have they kept the AC only right hand charging port? Is it standard now to have an 22Kw on board charger or do they still want £4K. For an upgrade? Did you know anyone can unplug the A.C. Charger at anytime providing they press the button in the charging port! If they were on an EMotorbike they could watch you hook up & leave then unplug you & plug themselves in!
Not true. As long as the vehicle itself is locked, you cannot unlock the charging port by simply pressing the button.
@@AppletreeGreen I can on mine! I've let the key fob well out of range (10Metres) & the button changes colour & releases. I'll have to get it checked?
@@kevinburke6743 Well perhaps 10 meters are not enough... I would check again and if it really opens, I would report to Porsche. If that would be the case, you are also prone to theft of the charging cable for 11/22KW.
@@AppletreeGreen It wa at least 10Metre & though the house.I will be on to Porsche. I do not carry the 11 or 22Kw charging cables. I always charge on route or at destination. Did know that Home Chargers are not Chargers? they are high amperage extension leads! How mad is that? The Charger is in the car! Mine is only,11Kw. £4K for the upgrade. Just imagine if you had to carry your phone charger with you all the time? & the lead to plug it in?????
22kw on-board charger will be available as option later this year.
Thumbnail, very good! 👏🏼
Cheers, shame about the content 😂😂
Can I drive it 250mi+ at 80mph in any weather?
You can try! (Safely 😉)
I have just purchased a turbo great car only done 4k miles bargain really yes it will lose money same as everything you buy especially cars all EVS are the same right now and petrol would I buy a new one no I’ll wait to get one at a discount not everyone can afford 150k that’s why decent used low mileage will always be worth something. I sold a cayman GTS 4 couldn’t give it away and that was a 73plate high spec I’m really happy with the taycan very quick indeed 😊
Youll lose about ,30k+ Turbo S guys lose the most from 150....to 80+ after 3 years. Used with a heavy discount with dealer needing to move it on. Save a lot. My bro has the 4S with Mission E wheels brand new. Few months ago. Now facelift is out.
Good stuff, look beyond the depreciation and enjoy it. Might as well whilst you own it!
Ev's are fine I drive a Tesla model 3 performance, love it to pieces but electric is just another power like diesel and petrol if you charge at home ev is fine and cheap,g but charge anywhere else it's petrol cost, I like the smooth drive and instant acceleration, I did not buy for some ecomental reason I charge at night no sun, generally not windy so thanks coal,gas, for charging my ev.
The ZEV mandate which will cripple car companies that dont make enough EVs and the EV salary sacrifice schemes here in the UK will meam the new tycan will sell pretty well.
Keeping my car. Facelift is 60% more expensive (for the same model with the same options) than my current 4S which i specced new in 2020. The range and looks of the new one is absolutely NOT 60% better.
Yep, this sounds like head screwed on logic to me 👍🏻
I’m sure by now you are aware of the horrendous depreciation on Taycan, there are over 700 on Autotrader, if you do manage to bail out of your current car buy the next one using lease or guaranteed buy back (PCP), good luck 👍
Yes, I'm on PCP (and glad I am!)
The depreciation will make it impossible to PCP in future, the monthly payments will reflect the beating finance companies are taking on these cars right now.
I think there will be a GT, above the Turbo S.
The numbers could be insane!
The first version looks far more better
That seems to be the one people prefer!
I think you’d be mad to buy a Taycan with your own money. The outlay for what is basically the road going equivalent of a washing machine, is nuts. They only sell because people buy them new as company cars - there is no market for used, private Taycans and that’s why the depreciation on these cars is horrific. A second-hand Fly-mo probably holds its value better.
A 911 on the other hand is a completely different proposition but only for a private purchase - benefit in kind tax on a 911 as company car is outrageous.
Horses for courses, I guess.
No one in their right mind would buy this car. The tax breaks do not compensate for the horrendous depreciation. I have one , which I did purchase through my company - seemed a good idea at the time 😢😢😢. The car has irritating faults - hugely exaggerated range - the charging network lets it down with chargers either broken or operating at much reduced capacity. Wish I had bought a 911…
I was considering purchasing a Taycan, and sincerely searching for positives, but I can't seem to find any. As you mentioned, the depreciation outweighs the benefits of the capital allowance. Moreover, I'm concerned that selling these cars in the private market would be quite challenging unless you're willing to incur further losses. The EV market doesn't seem ready, and in my opinion, may never be. Just as I always suspected from the beginning, anything battery-operated is a pain in the rear.
Lol… porsche removed the tear drop on the base car and made it exclusive to the higher models… so if you don’t spend another extra 50 grand, enjoy your hyundai looking brick raised 5 feet off the ground.
Just get the Xiaomi su7
100 miles extra range, normal miles or special EV 'pretend miles' :)
Real world needs to be seen...
Price. They will not replicate 150k sales in my oppinion. But we will see, in my oppinion 2024-2025 is peak EV craze, market will slow down the trend to EV will be slower now. The US is now in EV crysis and it will come to Europe in some extent, how much nobody can say for sure. We can say there are bumps ahead for EV forcing.
We'll have to see what comes!
Don’t get me wrong I love the brand had 4 Porsche’s so far and think the Taycan is brilliant
Upgrading ? Hell no..new taycan is overpriced..fast and better but why would be pay so much money to normal car because it is porsche ? Basic taycan is thr slowest electric car in the market with $125.000k price tag with options...come on porsche !!! With that old exterior design style eith 130k price tag why would i pay you !!!
why are u screaming?
Just lower the volume on your phone or computer. Volume just right to me. As to his excitement with the Taycan, good for him for all Taycans are great vehicle.
Tesla s plad is faster and 2 times cheaper 😂
Handles like a golf cart
I’ll wait till they have the NACS Tesla charger in 2030