Depreciation

[tfun]

Buy a used 2024 or 2023, then you benefit from the depreciation. Used EV's have some of the best bargains out there. Personally, I will be driving my 2021 for many more years. No real reason to upgrade in my opinion, the car is still awesome

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[Derail_90]

Thanks for all the feedback. Needed and not needed ones.

 

[txaggies07]

If the residual value was better I could see swapping as my car is now 5 years old. I paid about $50k after the tax credit for mine. It is now worth ~$20k. If I keep it another 5 years I imagine it will drop down to $5k-$10k. So, the first 5 years cost me 30k, the next 5 should only cost me 10k-15k.

On the bright side there isn't anything out this moment I would prefer over the Mach-E. Cars I am interested are finally beginning to trickle out or be announced. I like the idea of the Rivian R2, however I wouldn't likely be able to get one until 2028. I want to see what Ford does with their new platform. Tesla isn't doing anything new at this point. Hyundai/Kia are doing ok but their current offerings aren't doing it for me. Another 5 years though and there could be some great options out there.

 

[Derail_90]

Yea I definitely understand that. I just got an email from Tesla about the Cyber Truck starting at 59k. That could be a nice lease. We will see. I think I’ll keep it till at least the end of the year and just pay down the depreciation gap. It’s a nice car. I don’t mind keeping a little longer. The Porsche Taycan is pretty nice also.

 

[ipca204]

Yea I definitely understand that. I just got an email from Tesla about the Cyber Truck starting at 59k. That could be a nice lease. We will see. I think I’ll keep it till at least the end of the year and just pay down the depreciation gap. It’s a nice car. I don’t mind keeping a little longer. The Porsche Taycan is pretty nice also.

lol...have you SEEN the depreciation curve on the Porsche Taycan?????

 

[HowdyDoody]

Keep it! It's a great car. I'll give it to my kids one day...EV's are much safer for new drivers than ICEs.

 

[Derail_90]

lol...have you SEEN the depreciation curve on the Porsche Taycan?????

Yes but I’m honestly done buying. I’m going back to leasing for that exact reason.

 

[Squire330]

It works the other way too. If you're in the market for a used car, you get the benefit of deprecation. I bought a pristine, well equipped, 10-month old 2023 Premier, with 5,600 miles, for $32,400. Somebody's loss is another's gain.

 

[music_cities]

If the residual value was better I could see swapping as my car is now 5 years old. I paid about $50k after the tax credit for mine. It is now worth ~$20k. If I keep it another 5 years I imagine it will drop down to $5k-$10k. So, the first 5 years cost me 30k, the next 5 should only cost me 10k-15k.

On the bright side there isn't anything out this moment I would prefer over the Mach-E. Cars I am interested are finally beginning to trickle out or be announced. I like the idea of the Rivian R2, however I wouldn't likely be able to get one until 2028. I want to see what Ford does with their new platform. Tesla isn't doing anything new at this point. Hyundai/Kia are doing ok but their current offerings aren't doing it for me. Another 5 years though and there could be some great options out there.

How about the Taycan?

 

[Derail_90]

It works the other way too. If you're in the market for a used car, you get the benefit of deprecation. I bought a pristine, well equipped, 10-month old 2023 Premier, with 5,600 miles, for $32,400. Somebody's loss is another's gain.

That may be true but I would recommend seeing what your car is worth now. 2 years ago my car was selling for about 32K - 35k. That’s now 50% of that price that it is worth. While most cars depreciate, these electric vehicles depreciate a lot faster.

 

[GreaseMonkey]

all cars depreciate

I hate it when someone says that. Just hate it.

It like your best friend from college tells you: “ I just found out that I have terminal cancer”. To which you reply: “everyone gets sick. Shit, I had a cold two weeks ago”.

 

[TRP]

2021 with over 108k miles..............I don't even look at the resale value anymore

Fortunately it is paid for and I have zero intentions of adding another car payment anytime soon

 

[Squire330]

I buy the car I want, when I want, without a thought for depreciation. My previous car was a 2018 Smart EV. I paid very little for it. Drove it for three years. Enjoyed it very much and sold it for about the same thing I paid for it. I’m all about doing what makes me happy and don’t worry about other people‘s opinions. But I do value other people‘s valid advice.

 

[Squire330]

My previous EV.

 

[txaggies07]

How about the Taycan?

That is quite a bit more than I am willing to spend on a car.

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