Electric Car buyers Beware !!!!!!!

QrizB

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.

Sticker price =/= value.

born_again said:

As it is on PCP why are you even bothered?

This. You're getting the car you wanted at the monthly payment you agreed. At the end of the contract you can hand it back; you don't care what the resale value is.

zxzxzx said:

Indeed, or one could buy an ex demo for £22k ish?

Mrs QrizB recently bought a three-year-old VW e-UP! for about £10k. She's planning to keep it for the next decade or so.

Peter999_2

I got a Nissan Leaf 62kWh car in 2021 on a three year lease for £300 a month including maintenance.

After the three years, the company I went with offers you the car based on what it is currently worth.   I was able to buy the car outright for £11,000 so it had lost £23,000 in the three years - still drives like a dream and has 98% battery capacity.

I would never buy any car from new unless it was a lease.    The deals you can get on a few years old EVs are great.
Since 3rd January this year I have driven 2728.4 miles and it has cost me £44.94 in electric.    My old non-EV car would have cost me £463 in fuel.   Imagine how much I have saved in the 5 years I've been driving EVs (and back in 2020 there were loads of completely free rapid chargers, including one 200 yards from my house).

michaels

The business EV tax breaks plus govt EV proportion of sales rules make buying (rather than 'renting') an ev at MRSP outside of a company scheme a bad deal.

Hopefully there are not buyers stupid enough to do this with their eyes closed but you never know....

saajan_12

EricMears said:

What's a self-charging hybrid ?  Does it drive itself to a charger and connect automatically ?  

Ha! Indeed something I've always wondered. If its charging the <electric part> with the <petrol part> then surely all the energy to propel the thing is originally from fossil fuels burnt IN the car. At most its changing the timing of when the fossil fuels are burned. But there's no partial renewable energy from the grid, or more efficient electricity generation going on as is implied by a (partly / hybrid) electric car. 

Keep_pedalling

Presumably you did not get the £5000 contribution on your deal, that they are now offering otherwise your depreciation would be £5k less. I was going to PCP the Škoda Elroq I just ordered but was a lot cheaper to lease it.

My ID3 that I purchased 3.5 years ago for around £32k has depreciated by around £17k and it has done 30k miles, so not everything depreciates at the levels you are seeing with the Honda, which is not a popular choice among EV owners. 

Spies

Damn and here's me thinking cars were an investment 

QrizB

saajan_12 said:

EricMears said:

What's a self-charging hybrid ?  Does it drive itself to a charger and connect automatically ?  

Ha! Indeed something I've always wondered. If its charging the <electric part> with the <petrol part> then surely all the energy to propel the thing is originally from fossil fuels burnt IN the car. At most its changing the timing of when the fossil fuels are burned. But there's no partial renewable energy from the grid, or more efficient electricity generation going on as is implied by a (partly / hybrid) electric car. 

The main benefit with a "self-charging hybrid" is regenerative braking. You capture a lot of the energy that would otherwise be lost as heat.
Apart from that, they're mostly a way for recalcitrant ICE manufacturers to carry on selling fossil fuel cars.

DullGreyGuy

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.

Whats your balloon payment?

At the end of the day if the residual tanks you just give it back at the end and walk away from the negative equity. 

Exiled_Tyke

QrizB said:

saajan_12 said:

EricMears said:

What's a self-charging hybrid ?  Does it drive itself to a charger and connect automatically ?  

Ha! Indeed something I've always wondered. If its charging the <electric part> with the <petrol part> then surely all the energy to propel the thing is originally from fossil fuels burnt IN the car. At most its changing the timing of when the fossil fuels are burned. But there's no partial renewable energy from the grid, or more efficient electricity generation going on as is implied by a (partly / hybrid) electric car. 

The main benefit with a "self-charging hybrid" is regenerative braking. You capture a lot of the energy that would otherwise be lost as heat.
Apart from that, they're mostly a way for recalcitrant ICE manufacturers to carry on selling fossil fuel cars.

I have to disagree I'm afraid.  ICEs have a very tight efficiency band. i.e. if they are not operating at their peak power output they are wasting a lot of energy.  The hybrid attempts to keep the engine working at its most efficient as much as possible.   If operating at this level produces more energy than the car needs the excess is put into the battery.  If there is not enough power for the cars needs at the maximum efficiency level  then the ICE is supplemented with battery power.  Put a hybrid on a motorway (where there should be very little braking) and it will still outperform a standard ICE in terms of efficiency.  Regen tends not to be as strong as a full BEV - presumably because the smaller battery can't be charged at the same rate so it's more likely that traditional brake will be needed but is still a very important factor.  I think most car manufacturers and articles on the web don't explain this as it's too complicated and I guess many readers aren't interested in such a level of detail.  This article explains it. 

https://www.sciencedirect.com/science/article/pii/S2666691X22000446 and I've extracted this helpful quote. 

"In summary, it can be stated that a purely internal combustion engine powertrain will not achieve future fleet limit values at all, because the efficiencies required for this are practically or better physically unattainable, as they are too close to the theoretical maximum. By combining the internal combustion engine with a hybrid powertrain, a considerable part of the necessary efficiency increase can be taken over by the hybrid powertrain in order to achieve future fleet limits..."

Martyn1981

QrizB said:

saajan_12 said:

EricMears said:

What's a self-charging hybrid ?  Does it drive itself to a charger and connect automatically ?  

Ha! Indeed something I've always wondered. If its charging the <electric part> with the <petrol part> then surely all the energy to propel the thing is originally from fossil fuels burnt IN the car. At most its changing the timing of when the fossil fuels are burned. But there's no partial renewable energy from the grid, or more efficient electricity generation going on as is implied by a (partly / hybrid) electric car. 

The main benefit with a "self-charging hybrid" is regenerative braking. You capture a lot of the energy that would otherwise be lost as heat.
Apart from that, they're mostly a way for recalcitrant ICE manufacturers to carry on selling fossil fuel cars.

I think Toyota came up with the term, renaming their HEV's (alongside 'electrified' to help confuse one and all). The term is still allowed in the UK, but many other countries banned it for marketing purposes, as it's very misleading. At the same time they also started using the phrase 'we choose not to plug in', alongside pics of people standing next to their PEV's, holding the charger like a fuel pump.

Just checked Toyota's website:-

No need to plug in

Toyota hybrids are self-charging with no need to plug in. Simply get in, buckle up and generate power as you drive.

Fingers crossed, the SH market for BEV's is now opening wide, with ever cheaper vehicles to choose from.

Sticker price =/= value.

Yep, we got a Leaf last Dec. List price was around £31k, but they were selling at £17k.

[Technically, not new, but pre-reg 74 plate with 7 miles on the clock.]