We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Electric Car buyers Beware !!!!!!!

ilsonchew
Posts: 1 Newbie
I swapped my self charging hybrid Honda for a fully electric ENY-1 model in a PCP contract and since July last year to February this year the £42000 car I drove out of Honda with has lost £19500 in value and I assume will lose considerably more up until the end of my three year PCP.
I am aware that new cars devalue but this is a little extreme to have lost nearly half it`s value in six months and with only 1600 miles on the clock.
Anybody else thinking of doing this to go electric I would advise DO NOT BOTHER.
I am aware that new cars devalue but this is a little extreme to have lost nearly half it`s value in six months and with only 1600 miles on the clock.
Anybody else thinking of doing this to go electric I would advise DO NOT BOTHER.
0
Comments
-
No not me. I research everything before action then I have no reason to complain after the event5
-
What's a self-charging hybrid ? Does it drive itself to a charger and connect automatically ?NE Derbyshire.4kWp S Facing 17.5deg slope (dormer roof).24kWh of Pylontech batteries with Lux controller BEV : Hyundai Ioniq51
-
“New Car loses value as soon as you leave the dealership shock.”3
-
zxzxzx said:“New Car loses value as soon as you leave the dealership shock.”Yeah, but not half its value in 1600 miles and six months. A luxury chauffeur driven limo would have cost less.That works out at £12.50 per mile in depreciation costs, but thankfully offset by a tremendous saving of about 10p per mile against a petrol or diesel car.Mr Generous - Landlord for more than 10 years. Generous? - Possibly but sarcastic more likely.0
-
“ That works out at £12.50 per mile in depreciation costs, but thankfully offset by a tremendous saving of about 10p per mile against a petrol or diesel car.”- as long as you’re not charging on a motorway… pretty much equivalent cost then.1
-
ilsonchew said:I swapped my self charging hybrid Honda for a fully electric ENY-1 model in a PCP contract and since July last year to February this year the £42000 car I drove out of Honda with has lost £19500 in value and I assume will lose considerably more up until the end of my three year PCP.
I am aware that new cars devalue but this is a little extreme to have lost nearly half it`s value in six months and with only 1600 miles on the clock.
Anybody else thinking of doing this to go electric I would advise DO NOT BOTHER.
Looking at what Honda are chucking at people, £5,000 Honda deposit contribution 0% PCP. Clearly unlike other brands, Honda is not selling well.
All cars lose a lot of value in the 1st months.Life in the slow lane1 -
Mr.Generous said:zxzxzx said:“New Car loses value as soon as you leave the dealership shock.”Yeah, but not half its value in 1600 miles and six months. A luxury chauffeur driven limo would have cost less.That works out at £12.50 per mile in depreciation costs, but thankfully offset by a tremendous saving of about 10p per mile against a petrol or diesel car.1
-
Because of the business tax breaks on new EV's cars up to a year old are worth very little on the private market (cheaper to buy a new one). It will get much better in the next year or two.1
-
If I were buying an EV, I'd buy a 2-3 year old used example. The running cost savings and depreciation make it an excellent proposal.
- 10 x 400w LG + 6 x 550W SHARP BiFacial Panels + SE 3680 HD Wave Inverter + SE Optimizers. SE London.
- Triple aspect. (22% ENE/ 33% SSE/ 45% WSW)
- Viessmann 200-W on Advanced Weather Comp. (the most efficient gas boiler sold)Feel free to DM me if I can help with any energy saving!2
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.3K Banking & Borrowing
- 252.8K Reduce Debt & Boost Income
- 453.2K Spending & Discounts
- 243.2K Work, Benefits & Business
- 597.8K Mortgages, Homes & Bills
- 176.6K Life & Family
- 256.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards