Depreciation

[5thcivic]

There have been some posts about the E depreciation as people sell up. Maybe this article puts it into perspective. Market forces have moved badly in the last year, but they still find the E nearer the bottom of the list of cars that have lost the most.

https://www.thisismoney.co.uk/money/ele ... -most.html

[londiniumperson]

The issue is that just before I bought my Honda e in 2020, I took out a Corsa e for a test drive and as soon as I sat down at the desk after a test drive they offered my a £5k discount, and therefore I could have easily negotiated more if I was interested in buying one. This means that the recorded depreciation in that article would have been virtually nil in my case for a Corsa e, whereas my Honda e has dropped over 50% in 3 years.

Also it is not only EV prices that have plummeted recently, ICE cars are similarly effected.

[555djx]

We might have dodged the proverbial bullet selling the e in December 2020 after 2 years of ownership for £4k less than we paid for it. The same can’t be said for the SEAT Mii electric we own which, according to the article, has lost around 50% of its value. We bought it new in September 2021 for £17k, sold it after 14 months to a dealer via carwow for £17.6k, and then 5 months later, when it was still unsold by the dealer who bought it from us, bought it back from them for £15k; it was a great result at the time but, on paper, not so good now. It’s a long term keeper so, thankfully, not an issue currently.

[5thcivic]

The article is specifically depreciation over one year not three.

[555djx]

The article is specifically depreciation over one year not three.

I can relate to that with our 2021 Mii which we bought in April for £15k; if my figures are correct, 8 months later, and with just 6,240 miles on the clock, AutoTrader are currently valuing it at £8.8k as a part-exchange, a 41% drop in value.

For a laugh I went on WBAC today and they offered £6k, a 60% plummet in value!