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Your next car will be:

  • New

    Votes: 7 14.3%
  • Used

    Votes: 14 28.6%
  • Leased, Rented, Subscription, etc.

    Votes: 28 57.1%
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Discussion Starter · #1 ·
Our Zoe is our first new car in over 20 years. Between then and the Zoe we've mainly bought 2-3 year old cars with a bit of warranty left and run them until the repair bills started to creep up. Most of the cars we kept until they were 8-10 years old.

We decided to get a new Zoe because it was our first electric car and we wanted the comfort of knowing we would have a good chance of getting any initial problems sorted so were prepared to take the hit on the extra depreciation a new car brings with it.

One of the "Ice Breaker" threads last week got me looking at second hand EVs for the first time and I was quite encouraged to see cars around 0-2 years old with enough WLTP range to meet our needs.

We don't expect to buy another car for 4 years or so, to replace the ICE that's done pretty much nothing over lockdown and I'm hopeful that by then cars like the Ioniq 5 and EV 6 will be available in good nick and in that age range so we can avoid the depreciation on the new ones. In other words a step back towards cheaper motoring!

I'm curious to know where other people are on their EV journey, so here's a poll to see what your plans are for your next EV.
 

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Nissan Leaf 24 Tekna '64 reg
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Remember EV's are a relatively new thing, most people sign up to forums to research and then discuss their vehicle. So the stats here may be skewed towards new or leased cars.

For me personally, I'll always want to buy used. But same as your Zoe, I may buy a new Model Y, depend on how well our long range dirty diesel lasts. It's 8 years old now, I also tend to replace at around 10 years old. So I need MY to come out this year in order for enough second hands to come out of lease when I'm due a replacement. Being diesel and living in greater London, local policy will also play a role in my decision.
 

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If I were in the market for another car now it would be an EV but on lease - I believe that there is a significant risk of price falls in the secondhand market over the next few years.
 

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for the last good few years I've done PCPs and dropped them at the VT mark or at the end of the term. Basically leased but with the option to buy at the end (which I never do). With the model 3 I've bought outright (loan). Perhaps with the speed of technology I should have done one more round of leasing and aimed to buy outright in 3 years? But should be fine.
 

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If I were in the market for another car now it would be an EV but on lease - I believe that there is a significant risk of price falls in the secondhand market over the next few years.
We've just sold our Kona 64 SE and gone for a leased Ioniq 38 SE.... partly because we don't need to range anymore and partly because we felt the equity in the Kona (approx. £20k) would fall quite quickly over the next 3 years with so many new EVs coming online and technology moving forwards.
 

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I choose the “no idea” option 😂 could be another Jazz, could be another EV, maybe some gas guzzling BMW, perhaps a GT-R or old Z3... who knows what mood I’ll be in from one week to the next
 
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I think buying outright is quite a risk with the speed at which the technology is improving.

It’s not like buying a new car 20 years ago when one generation of car was pretty much the same as the next bar a few styling tweaks, maybe a standard sunroof etc, a few more mpg and another 10hp.

In the not too distant future many of the EVs around now are going to seem quite quaint - that’s not to say they won’t still have a use, but I think there is a risk that values decrease quite markedly as the volume of more capable and desirable EVs available to buy brand new for less money rapidly increases.
 

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Discussion Starter · #9 ·
I think buying outright is quite a risk with the speed at which the technology is improving.

It’s not like buying a new car 20 years ago when one generation of car was pretty much the same as the next bar a few styling tweaks, maybe a standard sunroof etc, a few more mpg and another 10hp.

In the not too distant future many of the EVs around now are going to seem quite quaint - that’s not to say they won’t still have a use, but I think there is a risk that values decrease quite markedly as the volume of more capable and desirable EVs available to buy brand new for less money rapidly increases.
Yes, this is part of what I'm interested in. I plan/hope to keep the Zoe at least 9-10 years so I shouldn't be too worried about depreciation, but you're right. There's a lot of good EVs coming to the market now and this could well impact on resale values say 2-3 years from now.
 

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I agree that the market is moving fast but I tend to keep cars a long time and buy outright. The only difference this time was getting a new car and not 4 years old! My last 3 cars I kept until 12 years old with no problems and the first two disposed of because I was moving country, the last because I wanted an EV. In the end my thought process was "sod it, I'll go for this deal on an MG ZS EV", and I'm not sure over how long I'll amortize it but I'll put money by so I can update/upgrade to the next generation in maybe 7 years. I may keep it longer if it still performs what I want it to.

As it is I still haven't bothered using any of the driving aids and by and large find touch screens and reversing cameras a distraction.
 

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My next car, wont be a car at all.

I've gone far enough down the EV rabbit hole to know that going forward beyond the next 12 months, as we hopefully ease out of C-19, car ownership of any kind won't be for me.

I've moved back into a relatively modest Midlands city centre, with enough access to public transport for the majority of journeys I will have to make, while still being able to access EV's through a car sharing club, Co-Wheels, while bicycles and my own feet will navigate the rest of my transport needs.

I shoot from the hip about this far too often on here, but the reality is that changing to an EV isn't doing anywhere near enough regarding climate change, so the car will go altogether, so that it isn't the de-facto option.
 

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Our Zoe is our first new car in over 20 years. Between then and the Zoe we've mainly bought 2-3 year old cars with a bit of warranty left and run them until the repair bills started to creep up. Most of the cars we kept until they were 8-10 years old.

We decided to get a new Zoe because it was our first electric car and we wanted the comfort of knowing we would have a good chance of getting any initial problems sorted so were prepared to take the hit on the extra depreciation a new car brings with it.

One of the "Ice Breaker" threads last week got me looking at second hand EVs for the first time and I was quite encouraged to see cars around 0-2 years old with enough WLTP range to meet our needs.

We don't expect to buy another car for 4 years or so, to replace the ICE that's done pretty much nothing over lockdown and I'm hopeful that by then cars like the Ioniq 5 and EV 6 will be available in good nick and in that age range so we can avoid the depreciation on the new ones. In other words a step back towards cheaper motoring!

I'm curious to know where other people are on their EV journey, so here's a poll to see what your plans are for your next EV.
I'm still mulling over my options after last week's discussion. I looked at some lease options and thought that I could get a loan for say half the asking price of a Ioniq for example and save the other half. Then payback the loan over 3 or 4 years which would give me similar monthly payments to leading a brand new one. Then after the 3 or 4 years, I'd own the car. If depreciating isn't a huge concern, does this sound vaguely, financially sound?
 

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It may be that S/H prices will hold better than imagined for the current crop of EV's, whilst new tech will make them seem rather antiquated, they will still function well as EV's and many moving from ICE will be looking for good value alternatives when they need to pension of their old cars, a case of supply and demand, it will take time for the 'expensive' new tech EV's to move down the food chain. It depends on what peoples demands are the later buyers will likely be less concerned with overall range and toys and want a reliable get me to work and the shops hack.
 

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It will be interesting to see how things pan out over next few years. Right now I suspect a lightly used Zoe ZE50 GT Line at not much over £20K with a 5 year warranty is a good bet, as will probably still be worth £10K at 5 year old, so low depreciation per year.

By 2026 you won't get a new 250 mile range car for anywhere near that cost IMO, especially as grant will have gone and demand much higher, so lower discounts.
 
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Discussion Starter · #15 ·
Enjoyed the video - I like Robert and it was quite informative.

What it did though was make me cry inside a little for the days when I could rock up at a Toyota garage and buy a 14 month old Avensis for all of £12k lol. That was 9 years ago, mind you, so probably would cost a bit more now!
 

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Discussion Starter · #16 ·
It will be interesting to see how things pan out over next few years. Right now I suspect a lightly used Zoe ZE50 GT Line at not much over £20K with a 5 year warranty is a good bet, as will probably still be worth £10K at 5 year old, so low depreciation per year.

By 2026 you won't get a new 250 mile range car for anywhere near that cost IMO, especially as grant will have gone and demand much higher, so lower discounts.
We're in an interesting period aren't we? You'd expect prices to come down as volumes go up, but the need for everyone who's buying a new car to change by 2030 means we're a captive market so the manufacturers will fight to keep prices as high as they can for as long as they can.
 

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It will be interesting to see how things pan out over next few years. Right now I suspect a lightly used Zoe ZE50 GT Line at not much over £20K with a 5 year warranty is a good bet, as will probably still be worth £10K at 5 year old, so low depreciation per year.

By 2026 you won't get a new 250 mile range car for anywhere near that cost IMO, especially as grant will have gone and demand much higher, so lower discounts.
You think ev prices are set to rise?!
 

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We're in an interesting period aren't we? You'd expect prices to come down as volumes go up, but the need for everyone who's buying a new car to change by 2030 means we're a captive market so the manufacturers will fight to keep prices as high as they can for as long as they can.
There's no two ways about it, higher prices are far more likely to become the norm, than cars suddenly becoming cheaper as the volume manufactured increases.
EV's don't attract the servicing upkeep that ICE vehicles do, so that is a major revenue source removed there, plus grants will be tapered off as the market grows, meaning that car ownership will once again become the domain of those who can afford it. Perhaps it will force people to choose between having a family, or buying a set of wheels. What will people be willing to give up to afford a car? A house in the suburbs, or a flat in town?
If some kind of autonomy materialises will ny of us need to own a car at all?
 

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I think about this a lot (probably a bit too much) and still don't really know what's sensible. Have been leasing for years (currently have an eGolf) and always assume that cheap deals will dry up at some point.

In many ways an earlier Zoe would make a lot of sense (alongside our old petrol MPV for the odd long trip) - but £5k+ and £50pm battery lease seems expensive for what you get and if you did want to go further afield then more and more new rapids have no AC provision. There's some sensible buys if you pay a bit more (Leaf, Soul, etc) although it's tying up more money in something that's still a bit limiting on range and as a long term prospect Chademo might not be so well catered for either. Spend even more on an Ioniq, i3, maybe a Leaf 40, ZS EV. Feels like you're starting to get a useful amount of extra capability for your money, although then it's only a small step to a nearly-new ZE50 Zoe, Corsa, 208. Corsa particularly looks great value lightly used and 8 year warranty to cover you.

On the newer stuff there's a case for an ID3 or similar (lots of choice in that £35k before grant, £32.5k after bracket) having enough range, fast enough charging, enough space, etc to be a viable family car for anything we'd need it to do. That grant will only ever get smaller, have a lower qualifying price or disappear - and new car prices keep on creeping up over time. Take the finance incentives, buy it at the end of the PCP, keep running for 10+ years.

I suspect though that if anything similar to the current lease deals (sub £250pm, low upfront) for Ioniq, Leaf 40, Zoe etc are around later in the year then I'll just go for one of those again and kick the can down the road for another couple of years.
 

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I think used EV pricing doesn't look sustainable, there's long range EVs selling nearly new, couple of years old where the sales price implies straight line depreciation over 10 years or more. Well who is willing to pay the same depreciation over a couple of years to own an old, worn EV, out of warranty at the 8 year mark, as a brand new one with the latest tech, full warranty etc ?

It might happen when supply is limited but as the volume of used EVs ramps up then normal pricing will apply, the depreciation will shift to being front loaded, residuals will fall and lease costs will go up. To be fair you can see this already with some of the higher volume EVs, the cost of used 40kWh Leafs is coming down, the cheapest starting at just under £15k.

It'll get interesting in a couple of years when the first wave of ex-fleet EVs hits.
 
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