What are peoples best guesses?
That is a good deal,1st Editions which is being offered for £29250, which seems like a good deal,
Well, PCP's will estimate the low end of value at the end of the term. Depending on the condition of the car, you should be able to sell it privately.I'm looking at buying one of the remaining 1st Editions which is being offered for £29250, which seems like a good deal, but if it's only going to be worth £17k in 3 years then it will have cost £12k to own the car for 3 years, which seems expensive compared to lease deals I've had for cars of similar values.
I think they are all fair considerations, and time will tell.This is quite a complex question.
1. How much will battery technology move on in 3 to 4 years? Will new cars have much greater range and lighter batteries with these ID3s seeming dated hence depreciating more?
2. Will EV prices drop more towards ICE prices as they become more mainstream? (Yes)
3. Certainly dealers have struggled to offload ID3s I doubt they will give you top dollar in 3 years.
I’m personally unsure whether I will buy out my PCP because I think the depreciation risk might be too high.
Not sure that is true, ICE are getting taxed into becoming PHEVs at similar costs to BEVs. I suspect that they will meet in the middle or more towards the cost of low spec BEVs.Will EV prices drop more towards ICE prices as they become more mainstream? (Yes)
Buying cash has worked well with our EVs so far, costs have been less than the fuel would be in an ice, but that has to do with when I've bought, buying when there's a deal available. Owning has given the flexibility to sell when I want, useful during lockdown when I decided to ditch the loan and before the Niro started to lose too much.My view is buying cash, loan or HP is a big risk today. PCP is OK provided you assume GFV is what it will be worth and plan to just give back. If values are higher, treat it as a bonus. Personally, I went PCH for 2 years as I was sure cheapest option and a lot will change even by 2022.
Agreed, I quickly paid off PCP (taken for best deal) on my ZE40 and it was incredibly cheap to run for just over 2 years. Values did drop just as I was selling, but overall it cost far less than a similar ICE, let alone an ICE I would drive (I wouldn't drive a Clio for example).Buying cash has worked well with our EVs so far, costs have been less than the fuel would be in an ice, but that has to do with when I've bought, buying when there's a deal available