Depreciation shock! Revealing the electric cars that take the biggest hit

[David48atTD]

EV's are taking a HUGE hit in resale values (time to buy gents).

E.G ... the Benz EQC ... down almost 40% IN 1 YEAR!

The top 10 cars dying in resale value after 1 year and 10K miles on the clock.

Worth a watch ... oh, BTW, the female presenter, for me, is annoying as shite

[S Landreth]

Still upset you cannot afford one?

__________


Do electric cars have good resale value?

Yes, as interest in these vehicles has grown and the age of all-electric creeps closer, value is set to stay steady. In 2020 alone more electric cars sold from January to September than in the whole of the previous year, it was also reported that EVs are becoming the most affordable type of car.

Brands including Jaguar, Mercedes-Benz, Fiat, and Volvo all plan to have done away with non-electric cars by 2035. At the moment, electric cars are thought to retain about 48% of their original value after three years, which puts them marginally ahead of the combustion engine counterparts.

There is also the argument that what electric vehicles may lose to depreciation, they make up for in what they save you in running costs like petrol, as well as making owners exempt from other fees and tax.

[David48atTD]

From the same mob ...

[Edmond]

Saw a crashed BYD on a Thai website today, the front was completely smashed in but the airbags weren't deployed. The Thais were all laughing about how shit it is.

A big no thanks on the flood of Chinese ones here nowadays.

[taxexile]

As far as taxation goes, governments will soon realise how much tax revenue they are losing by offering tax incentives ( e.g. lower yearly license fees, loss of petrol tax,) they will soon start taxing recharge fees and increasing license fees.

The batteries of electric cars, that are usually situated in the floopan, form a structural component of the vehicle and if even slightly damaged in a collision are virtually irrepairable. They need to be replaced at huge cost. A relatively minor collision can write off the vehicle. Damaged batteries are also a huge fire risk, and the fires that result from a lithium battery are explosive and impossible to extinguish. Storage of damaged electric cars present a huge problem and insurance companies are charging huge premiums to owners as a result of these downsides.

Electric cars are extremely heavy, the structure of a multi storey car park built for lighter cars would not be able to cope if full with cars that weight double the amount, and due to their weight they eat up tyres at an alarming rate, filling the air with mico particles of the poisonous compounds used in the making of tyres these days.

Until battery tech improves, costs come down, future tax rates are confirmed, electric cars are not the eco miracle they are promoted as by the increasingly annoying and deluded eco brigade.

Modern petrol cars are cheaper to buy, cleaner to run and supported by an already present infrastructure compared to the electic car, that needs rare minerals and metals dug from the earth by slave labour, the rewiring of the power supply of whole countries in order to provide enough charging points and the means to produce this electricity. Wind power alone cannot do it.

The tech, and the means to do this is decades away, and countries that think they can ban petrol cars within the next 15 years will have backed the wrong horse.

[BLD]

Thanks mate. My ditch digging career is assured. I've gotta agree with your crusty ass on this occasion. Mining pays the bills.

[Topper]

Saw a crashed BYD on a Thai website today

I have a student who owns one, I wonder if it was her. She did say the suspension is basically non-existent. She has the mid-range model.

[Joe 90]

Electric cars are the reason why everyone's insurance has doubled this year.


I watch this YouTuber who's Electric Porshe is now in negative equity, worth a watch.

Yeah we talk a bit like that oop here..

[Joe 90]

Still upset you cannot afford one?

__________


Do electric cars have good resale value?

Yes, as interest in these vehicles has grown and the age of all-electric creeps closer, value is set to stay steady. In 2020 alone more electric cars sold from January to September than in the whole of the previous year, it was also reported that EVs are becoming the most affordable type of car.

Brands including Jaguar, Mercedes-Benz, Fiat, and Volvo all plan to have done away with non-electric cars by 2035. At the moment, electric cars are thought to retain about 48% of their original value after three years, which puts them marginally ahead of the combustion engine counterparts.

There is also the argument that what electric vehicles may lose to depreciation, they make up for in what they save you in running costs like petrol, as well as making owners exempt from other fees and tax.

Are you on drugs?

[Joe 90]

Benz EQC

Took one for a test drive a few years ago.

The acceleration is earth shattering quick!

But no way would I own a EV!!!

[Neverna]

double post

[Neverna]

Harry's Garage:
Why I've gone back to driving a diesel after 2 years with an EV and then 2.5 years driving a PHEV as our family car. What needs to change to get me to go back to EV?

[Troy]

A couple of years ago, I had a trip in an Audi e-tron. It was a nice car and driver was very enthusiastic. Car was quiet and acceleration was super for an SUV. We travelled on the autobahn to France and cruising at 200km/h was a beeeze.

However, we had to charge it up twice on a trip my diesel could do on half a tank. Cost of fast charging was also far more expensive than I expected. I didn't see a cost advantage compared to diesel. Then there's the expensive tyres to take the load and torque.

It will take more to convince me to switch from my diesel.

[Switch]

Still upset you cannot afford one?

__________


Do electric cars have good resale value?

Yes, as interest in these vehicles has grown and the age of all-electric creeps closer, value is set to stay steady. In 2020 alone more electric cars sold from January to September than in the whole of the previous year, it was also reported that EVs are becoming the most affordable type of car.

Brands including Jaguar, Mercedes-Benz, Fiat, and Volvo all plan to have done away with non-electric cars by 2035. At the moment, electric cars are thought to retain about 48% of their original value after three years, which puts them marginally ahead of the combustion engine counterparts.

There is also the argument that what electric vehicles may lose to depreciation, they make up for in what they save you in running costs like petrol, as well as making owners exempt from other fees and tax.

Yet another exercise in confirmation bias, and ignoring the obvious. Well done!

[Switch]

From the same mob ...

Surprised our local bore isn’t all over this. Probably didn’t bother wathing it?

[Edmond]

our local bore

A further clue, please.


Hazza or Slandy the Pervert?

[DrWilly]

A couple of years ago, I had a trip in an Audi e-tron. It was a nice car and driver was very enthusiastic. Car was quiet and acceleration was super for an SUV. We travelled on the autobahn to France and cruising at 200km/h was a beeeze.

However, we had to charge it up twice on a trip my diesel could do on half a tank. Cost of fast charging was also far more expensive than I expected. I didn't see a cost advantage compared to diesel. Then there's the expensive tyres to take the load and torque.

It will take more to convince me to switch from my diesel.

I drive a diesel, range and power are superb.

[Switch]

I drive a diesel, range and power are superb.

Cant disagree with that statement, but ….
If you lived here you would spend most of time with the engine idling in traffic.

[DrWilly]

Cant disagree with that statement, but ….
If you lived here you would spend most of time with the engine idling in traffic.

Fair point, more likely just use grab instead. Bali traffic is horrible.

[BLD]

Electric vehicles= battery Minerals good for d ditch diggers eh tax? Greenies will moan. But it's a fact. Everything is mined. Your knife and fork made from metal that was mined , even your plate got mined from clay. Your car? Made from iron ore mining. The list goes on and on but if ev becomes a huge thing? Then we gotta keep mining battery minerals,

[Switch]

Electric vehicles= battery Minerals good for d ditch diggers eh tax? Greenies will moan. But it's a fact. Everything is mined. Your knife and fork made from metal that was mined , even your plate got mined from clay. Your car? Made from iron ore mining. The list goes on and on but if ev becomes a huge thing? Then we gotta keep mining battery minerals,

It’s a balancing act for mining to remain profitable. Spoil waste from mining accounts for 90% of anything extracted. With rare earth materials, this is likely to be more.

As global reserves of these minerals are held by China, I have some reservations about profitability, because the Chinese don't.