Used Car Values !!

TractorFactor

JKenH said:

A bit of a milestone, today. It’s high miles but this the first TM3 I have seen advertised below £20k. It doesn’t seem that long since we broke through the £30k barrier. 

That one also has a busted screen...

Grumpy_chap

Used car values remain inflated.  In Sept 21 I was offered a brand new Lexus ES, list £36k with £4k discount making it £32k.  It was for taking the stock vehicle and accepting delivery to meet the month-end targets.

Today, the same Dealership has a same model and trim car, May 2021 registered, 26k miles, advertised at £33k.

As for TESLA, maybe it is appropriate to wait for this £29k or £25k model?
Tesla says it will cut costs of next generation cars in half (thetelegraph.com)

JKenH

EVs dominate list of used cars that lost the most money in February

The Jaguar I-Pace (21.8 per cent); Volkswagen ID.3 (17.2 per cent) and Tesla Model 3 (17.1 per cent) all lost huge chunks of their value in February.

https://cardealermagazine.co.uk/publish/evs-dominate-list-of-used-models-that-lost-the-most-money-in-february/280650

[Deleted User]

fred990 said:

[Deleted User] said:

fred990 said:

faisal93 said:

I run a car sourcing business and have definitely noticed the decline in EV values. There are 3 things predominantly driving this: 1) EVs were significantly higher priced than ICE cars when new and high energy prices mean that the low running cost appeal to offset the high purchase price simply isn't materialising, killing used demand. 2) Range anxiety and charging infrastructure whilst vastly improved, still isn't there yet. And 3) New adopters of EVs have similar buying habits to those buying the latest iPhone every year, always wanting the latest model jumping between PCP deals. This has created a glut of supply every time a new EV is launched. This most noticeably happened with Tesla as the Korean EVs entered at a lower price point with equivalent real world range. I personally think it will continue like this for at least the next 3-5 years until EV's volume overtakes ICE cars.

Yup, sounds like a very sensible appraisal of what's actually going on unlike the wishful thinking of EVangelists and the resident self appointed expert here. 
Point 3 sums up the pcp hamster wheel/merry-go-round perfectly. 
A broadsheet paper today has an article that EV's might become the new cassette tape!! 
We are watching and waiting...ev makes no sense whatsoever at the moment for us. 
Remaining optimistic it will change in years to come....like heat pumps, lol.

On the other hand, I know a lot of people, myself included at the moment, who have been waiting for prices to come down and good used EVs to reach the market before buying one.

I actually had a couple before. The charging infrastructure was fine, no issues even back then, and even at current rates they would be much cheaper to run. Much more convenient too - people who have never owned one don't appreciate just how good home charging is.

Interesting that you and a lot of people that you know are waiting for prices to come down for good used EVs before buying one....makes a lot of sense to me. 

What made you have a couple before? 
What did you replace them with, diesel or petrol and why so?
Sounds like you were very happy with the infrastructure with no issues but didn't keep them....company cars I guess?

At the time I had a commute to work, so the fuel savings more than offset the extra cost to get one. Nissan were doing really good deals at the time too, big discounts and 0% finance.

Now I work from home so it's not worth replacing my old fossil fuel car, which I only drive a few times a week. I nearly bought another Leaf during the pandemic because it was cheap and I really don't like driving a manual fossil.

Friends I know who are waiting don't have access to cheap salary sacrifice or company cars. Some just can't afford a new EV that meets their needs, and some just don't want to take the depreciation hit on a new vehicle.

[Deleted User]

JKenH said:

A bit of a milestone, today. It’s high miles but this the first TM3 I have seen advertised below £20k. It doesn’t seem that long since we broke through the £30k barrier. 

 https://tesla-info.com/car/GB-e821adfa6723

Tesla are offering a 2019(69) 67k miles Model 3 with Enhanced Autopilot in silver for £24,300. (Edit 2 March: price reduced to £24,100). This includes Tesla’s own one year 10k miles warranty.

https://tesla-info.com/car/GB-5YJ3F7EA2KF444538

or for about £2k more you can get a 75k miles Long Range, again from Tesla with EAP and 1 year warranty. 

https://tesla-info.com/car/GB-5YJ3F7EB0KF427939

Remember when Elon Musk said it would be £27k brand new? Then it came out at over £40k.

Grumpy_chap

JKenH said:

A bit of a milestone, today. It’s high miles but this the first TM3 I have seen advertised below £20k. It doesn’t seem that long since we broke through the £30k barrier. 

 https://tesla-info.com/car/GB-e821adfa6723

Tesla are offering a 2019(69) 67k miles Model 3 with Enhanced Autopilot in silver for £24,300. (Edit 2 March: price reduced to £24,100). This includes Tesla’s own one year 10k miles warranty.

https://tesla-info.com/car/GB-5YJ3F7EA2KF444538

or for about £2k more you can get a 75k miles Long Range, again from Tesla with EAP and 1 year warranty. 

https://tesla-info.com/car/GB-5YJ3F7EB0KF427939

We might be reaching the point of price parity between used ICE and used EV:

2019, Jaguar XE, 20k miles, £29k:
https://www.autotrader.co.uk/car-details/202212102436816

2019 Superb, 15k miles, £27k (but lots of owners, which is not attractive):
https://www.autotrader.co.uk/car-details/202302063988654

2019 Superb Estate, 20k miles, £28k:
https://www.autotrader.co.uk/car-details/202301273655782

2019 TM3LR, 23k miles, £29k:
https://www.autotrader.co.uk/car-details/202208178863742

Compared to prices when new, all of these are possibly still overpriced though.

Petriix

There's a private sale top-spec Zoe on speakEV for a little over £15k. That's getting towards genuinely affordable for a small, mid-range EV. 

JKenH

Tesla has today reduced the prices of its cheapest used cars (complete with EAP and 1 year warranty) by a further £2,000. 

This 2019 Model 3 LR was originally listed in early December at £42k - now £22,600!

https://tesla-info.com/car/GB-5YJ3F7EB0KF427939

A 2020 Model 3 SR with 31k miles is available from £24k.

https://tesla-info.com/car/GB-5YJ3F7EA0LF656159

 A 2021 Model 3 SR with 41k miles and warranty until June 2026 can be had for £28,400.
https://tesla-info.com/car/GB-LRW3F7FA9MC243702

tifo

JKenH said:

This 2019 Model 3 LR was originally listed in early December at £42k - now £22,600!

I assume it was £42k 4 years ago in 2019, not December 2022.

JKenH

tifo said:

JKenH said:

This 2019 Model 3 LR was originally listed in early December at £42k - now £22,600!

I assume it was £42k 4 years ago in 2019, not December 2022.

Believe it or not I was actually referring to when it was listed for sale as can be seen from the screenshot below. The second screenshot shows its price history. It disappeared for a while. It is now sold. I saw on one of the Facebook groups someone had snapped it up. 

Edit: although this one has sold there is a September 2020 (so 70 plate) Long Range with 71k miles available at £24,200. (Includes EAP and 1 year 10k miles Tesla warranty)

https://tesla-info.com/car/GB-5YJ3F7EB3LF772609