EV Times, Depreciation doesn't matter onEV's, doesn't matter until it does!!!!!!

EV Times, Depreciation doesn't matter onEV's, doesn't matter until it does!!!!!!
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[@JamesHawkeYouTube]

There were very good reasons we never moved to electric vehicles in previous years. It's a sign of the times that the rational man becomes the "denier".

[@mikebreen2890]

In previous years we didn't have the batteries, we do now.

[@wizzyno1566]

​@@mikebreen2890that doesnt matter.

[@johnnydoe1984]

​@@mikebreen2890 Immaterial, it's about physics . Batteries simply can't do what what a mechanical 'fuel' engine does ! Electric motors yes , but batteries , no ! They drain far to quickly under duress and their longevity is questionable at best !

[@chaosflower4892]

Indeed. Electric motors are great. Not so the batteries. And the batteries will never be great. Just because you can make something, doesn't mean you should! EV's are a technological cul-de-sac.

[@robertkubrick3738]

@@mikebreen2890 We have had the batteries for a couple of decades at least.

[@blogg9922]

A pessimist is an optimist in full possession of the facts. Arthur Schopenhauer

[@BarrieCrampton]

I will have to use that one

[@robertkubrick3738]

Or an Optimist mugged by reality.

[@blogg9922]

@@BarrieCrampton Always liked the works of Schopenhauer Many think he was just a miserable German philosopher. Maybe so, but he wasn't wrong: "All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident." "What people commonly call fate is mostly their own stupidity." Arthur Schopenhauer

[@markgilbey1742]

Sometimes, no matter how hard you try to explain, someone will never listen. It is the Freudian defence mechanism of Denial

[@nsweeney3970]

Indeed... See comments from self professed EV fanboy iCozzh below. He has an extreme, chronic case of it... 😂

[@BarrieCrampton]

@@markgilbey1742 yep that seems to be standard

[@markgilbey1742]

@BarrieCrampton It's so obvious, really, it is even built into the disability motability leases where you pay extra due to depreciation if you wanted something better than a bog standard car. Some people need CBT as their thoughts and comments do not seem to conform or align with reality.

[@keithlane]

JLR are giving employees on their discount scheme 40% off I pace EVs …EVs are a catastrophe

[@piggypiggypig1746]

40% over priced to begin with.

[@rbnhd1144]

@@piggypiggypig1746 Exactly, Musk over priced Tesla's, other car makers could not wait to jump on the EV bandwagon and ca$h in, they loved the early rewards, but now they see the LOVE for EV's is not there, some will fail, meanwhile Tesla drops the price of his new cars time after time, screwing his own customers as he devalue's his own new cars, there is only one reason a car maker drops the price, the lack of customers.

[@rbnhd1144]

@@piggypiggypig1746 I think they all could be sold for a lot less, but the price was set high to lure in the early adopters, the status people, lol.

[@wizzyno1566]

​@@piggypiggypig1746cost to make them is fixed.

[@garryhills8648]

Well done Barrie!! Enjoy your new job We enjoy listening too you!!

[@WeAreAllDoomed-n5i]

You know what happens to batteries left in gadgets for a llong time unused? What about EV batteries? You know an EV is never fully off until the battery is flat.

[@danielsrje]

Everyone, except people in the real world, assumes that EV owners all have a private drive way or garage where they can hook up their car to the grid. I'm not sure about the UK, but here in Holland that may be (much) less than 10% of the population. A fully depleted EV causes lots of troubles...

[@baz770]

thanks for the content, please keep up the calm, measured discussion. Plenty wathcin (from even here, down under), Baz

[@BarrieCrampton]

@@baz770 gudday and thanks for watching 😂

[@jinxvrs]

Off topic, but I see from the SMMT that 56k BEVs were sold in September - up 24.4% on September 2023. However, EU-EVs do daily sales charts for several countries, one of which is the UK. Of those 56k cars, 20k (35.7%) were "sold" between Friday 27th and Monday 30th September. For the rest of the month, it was 1.2k - 1.8k per day. Maybe it's me, but doesn't that reek of pre-registrations with a view to the 22% mandate?

[@BarrieCrampton]

@@jinxvrs thanks for that, Makes the ‘sales’ claim look silly doesn’t it

[@martinbrookes1372]

Compounds full of pre registered EVs I am told . To be flogged at huge discounts . Dealers suicidal !

[@martincampbell5499]

Why not look at Hertz and the hit they took due to deprecating and operation costs of EV's. They learn a lesson, a very expensive one.

[@mikebreen2890]

They did a terrible job, not the fault of the cars.

[@wizzyno1566]

​@@mikebreen2890yes it is the fault of the cars. They didn't know the cars would depreciate this heavily.

[@martincampbell5499]

@mikebreen2890 I have to disagree with your statement. Unless you have some evidence or information that has not been released to shareholders or the SEC? The write down on the EV fleet is a massive loss for Hertz. There are a number of factors that came together to undermine the value of the fleet. One of the biggest external influences on the fleet value was a collapse in demand for EV's. Upstream of Hertz, you have many automotive companies trimming production numbers and prices, which further undermines the value of the EV market.

[@nsweeney3970]

​@@mikebreen2890 It was the damn fault of the cars, what the hell are you talking about?!? They were depreciating like they were going out of fashion because Tesla at the time kept having to discount new Tesla's list price again and again and again. On top of that nobody wanted to rent them and there were swathes of people who had multiple disasters using them with chargers not working, or having to queue etc (all the usual reality based issues that EV fan boys don't want to talk about, you know).

[@mikebreen2890]

@@nsweeney3970 Was it the fault of the cars that Tesla put unreasonable conditions on state of charge on return of the car? Tesla charging is very easy, the chargers are very reliable, the Tesla app even works out which chargers are busy and which will be based on where other cars are going. But don't let me spoil your reality.

[@kevinmoffatt]

A young guy working at an engineering shop I called at took out a PCP for three years on a new Ford and had to have a black box fitted as a condition of his insurance policy. Shortly after taking delivery he drove it at 100+ mph resulting in insurance cancellation with all insurers, meaning three years payments but no use of car. Sisters husband bought a new BMW 330 convertible delivered to Florida for his new job, but, at the last minute, he was relocated to Texas. Can't drive a convertible in 110 degrees and, because it was manual trans., he could only find a dealer in California who would buy it; it was a very long drive and return flight.

[@Hemond1]

As a teen I had a Chevy convertible with AC. I never put the top down in summer. Just used the AC. No reason why you can't use a convertible in Texas with top up. Just pretend it is not a ragtop, easy.

[@Hemond1]

As for the manual, I can assure you the enthusiast market is dying for manuals. I've had several manual cars. (Toyota, Fiat, Lancia) ANd have hunted unsuccessfully for manual versions of enthusiast cars like the 330. If a dealer won't take it, nothing was stopping him from selling on alternative (AutoTrader, CarsBids, etc.) auto platforms where the real car guys hunt for gems.

[@swithgk6538]

Just subscribed. Don't retire , please carry on

[@authuruksake969]

Salary Sacrifice Scheme is another sleight of hand to lease an EV EV would normally cost £550 per month, but offset against higher earners 40% tax rate to £400 from take home pay deduction (Actually costs more if you mostly pay the 20% tax rate, coz there's less tax to offset) So there's £150 per month, offset against your tax or £1,800 pa tax man isn't getting but people moan that EV's avoid paying say £500 pa in fuel duty When all these incentives & schemes to promote EV's result in huge amounts of less revenue for public purse, so they threaten pay-per-mile to recoup some it, where EVERYBODY pays to make up the lost revenue of incentives - but blame it solely on fuel duty lost Anybody remember all those plug-in Hybrid fleet vehicles, that went auction with the charge cable still sealed ??? Businesses were just claiming all the grants/incentives, but had no intention of charging them - just got a new car cheap with the green discounts (can't blame them, but somebody has to pay in the end for these incentives - taxpayers) All the various ways to lease vehicles, the ever changing ways they come up with... If any middle aged homeowner remembers the endowment mortgage, or worse low start endowment, get a 110%+ mortgage etc... The endowment wasn't worth jack, not maturing like the BS claimed, people asked to make up shortfall = negative equity, bubble bursts, boom n bust recession of late 80's-90's Live through that, learn a very painful lesson & you rightly become a little sceptical of any new way to buy/own/lease anything, coz you fell for it last time, this sleight of hand smoke n mirrors where do I sign - just below the small print you never read or told not to worry about

[@robertkubrick3738]

I agreed with you and liked your comment but to be fair, even a plug in hybrid you never plug in still recharges the batteries from the brakes like a standard hybrid, just with a bit larger battery.

[@authuruksake969]

@@robertkubrick3738 True, but the regen alone will next to nothing charge the PHEV battery which was mainly configured to be charged via a charger, with regen drip feeding back occasional energy - say when driving downhill - like selecting low gear in automatics, only with EV's Hybrid's regen helps to briefly top up some energy. Now with an actual HEV Hybrid - not a plug in PHEV, there is no charge port & solely relies on engine & any possible regen to charge a modest battery to assist in initial movement in town traffic With the PHEV, the idea was to charge at home, using the EV side to assist in moving vehicle from still, up to say 10-15mph where the ICE took over & for motoway driving etc... The PHEV was designed to use say 30% EV (charged at home), 70% ICE to increase economy/reduce CO2 claims But without charging the PHEV (you don't plug in a HEV), the Discounted/Subsidised PHEV ended up running on 99.5%+ fossil/ICE fuel The initial PHEV's was configured differently to the HEV, where the HEV was solely reliant on the ICE to charge its smaller battery The initial PHEV's had a larger battery (still small by today's standards, but bigger than HEV), & was reliant on being recharged via wall/granny charger & configured not to heavily rely on ICE charging battery (coz it was designed to be recharged via a dedicated charger not ICE) Both had regen feature, but by comparison this is more like drip feed charging than its main charging methods Yet it was heavily discounted, but companies/fleets never bothered to plug them in, they just took the discount for a cheaper way to fund a new vehicle As said can't blame them, but the point of all this & ultimately what I was demonstrating, was it was yet another great idea, (sarcasm), following on from Government telling people get a diesel coz they are better for planet - oh wait.... You see, government intervention rarely works out well, often it creates issues than actually solving them, so they bring out another policy, to fix the previously flawed policy, but that too has flaws they'll discover - aaannnd so the process continues... "The nine most terrifying words in the English language are: I'm from the Government and I'm here to help" - Ronald Reagan

[@Fur_Queue]

Evening Baz, thank you for accompanying me during my dinner and providing some decent thoughts and observations while I eat

[@stevenwalton1370]

You are right of course Barrie -if the asset depreciates more than was forecast over the lease term then presumably the lease company is a loser - that cannot be repeated - so next years deals won’t be nearly as attractive to the consumer -couple that to the normalisation of taxes levied on EV’s and you have got some interesting scenarios to follow

[@danielwolski7312]

Ive noticed that some 0-12 month old evs are fetching 30-40% of their new price at auction its mental.

[@mikebreen2890]

Fantastic buys then?

[@wizzyno1566]

​@@mikebreen2890yes. But it cant last.

[@mikebreen2890]

@@wizzyno1566 Explain?

[@wizzyno1566]

​​@@mikebreen2890the manufacturers cant keep making losses on EVs like they are now. Its just maths. So they'll go bust doing this or stop.

[@robertkubrick3738]

@@mikebreen2890 Only if people wanted them. People don't want them or the price would be higher.

[@alundavies5171]

Leasing is shite !! its all about we will own nothing and be happy ! this worlds a crock of shite!

[@AndyK.1]

It sounds ok until you realise you don’t have a car at the end of 3 years!

[@mattp1680]

The people who say they don't care about heavy EV depreciation because they can get a bargain on the second hand market really aren't thinking about the bigger picture. All this does long term is tank sales of new EVs leading to shortages on the used market down the road. It also massively increases Lease prices, and leads to huge negative equity on PCP deals at the end of term, leaving owners with little choice when it comes to refinancing or part exing down the line. People really need to wake up

[@Alantj22]

I have no problem with the Muppets who feel the need to change cars every 2-3yrs losing money. They are providing vat service to the large majority of motorists who buy used.

[@mattp1680]

@@Alantj22 It's not only people who change cars every 3 years who suffer though, if for example you took out a PCP and intended to pay the balloon payment and keep the car long term you'd still be paying more than the vehicle is worth come the end of the agreement. Much the same for anyone who buys on HP and wants to clear finance early etc. Nobody wins with out of control depreciation long term, it effects the entire industry from top to bottom. And many car dealers and I even expect long standing car manufacturers are going to go bankrupt in the next 10 years, costing thousands of people their jobs and livelihoods. The governments plan sucks and everyone with half a brain knows it

[@paulwheeldon3487]

"A rolling loan, gathers no loss!" as the joke goes. However, that mahoooosive depreciation has to be paid for somewhere. Remembering that 'Money makes the world go round', this loss of money isn't going round, it's going down the plug hole... Well said Barry!

[@WeAreAllDoomed-n5i]

I liked it when all the idiots wore masks! At least you didn't have to talk to them to know they were hard of thinking. The same applies to EVs! Especially when you see one with only the driver on their own wearing a mask! Yes they still haven't understood.

[@ridbanner1407]

Some of the gold plated certified ones still wear the mask.

[@ComeJesusChrist]

You sound like one of those so-called ‘conspiracy theorists’, like I am! At least we don’t have myocarditis.

[@WeAreAllDoomed-n5i]

Vive la Resistance!

[@authuruksake969]

Like some Ex-smokers, quitting after 30 years, they go full on anti-smoking crusade, trying to get everyone to quit and ban smoking completely etc... I've got a runaround EV, but kept diesel for longer trips Yet I'm fully aware of EV's flaws, great for local stuff as I charge at home But I don't go around ramming EV's down everybody's throats Let everybody make their own minds up, if an EV could work depending on their own individual circumstances Horses for Courses - accept they'll never work for everybody, not even half the motorists, maybe 30% but that's it imho

[@WeAreAllDoomed-n5i]

@@authuruksake969 Insurance, maintenance technicians, fire risk and depreciation!

[@Midnightowl22]

Depreciation is key to lease cost calculations. If you took out an EV a few years ago, you will probably be protected. Lucky you. But once the lease ends and you go to take out a new lease, you will be shocked at how much it's gone up as the lease companies will be factoring the huge depreciation

[@gilleyb1900]

One of my friends has a Tesla M3 as company car. Its time for renewal but Tesla is no longer within his lease plan as the monthly cost has gone through( the roof due to depreciation.

[@Alantj22]

More fool the lease companies. They bought the cars coming to the market now at peak COVID prices, of course depreciation is high. COVID was a one off no use crying over spilt milk, today's M3s are great value.

[@johnnydoe1984]

"You'll own NOTHING and BE HAPPY " !

[@BarrieCrampton]

@@Midnightowl22 correct

[@robertkubrick3738]

The Battery car lease is for 6k miles and the petrol car lease is for 10k miles. At least in one pro Battery car comparison I saw, where the battery car lease was slightly cheaper per year but not per mile.

[@brendanpells912]

I am always gob-smacked that people that spend that sort of amount on a lease don't stop and think what it's costing them in pence/mile, even before you add in the cost of fuelling it. My car has depreciated by about £6000 since I bought it 8 years ago, and I put on 110,000 miles since then. That's a little under 6p/mile. And I still have a perfectly good car.

[@stevehayward1854]

No one buys a car putting the cost per mile first. My wife decides on colour first

[@markburton8303]

It all depends on the situation though. I bought a very nice 2 year old EV for 16k. I do 18k miles a year, and the EV is saving me £1570 in fuel costs compared with a 53mpg Corolla self charging hybrid (comparable with a higher mpg diesel due to petrol/diesel price). So, in just over 10 years, the car has effectively paid for itself.

[@authuruksake969]

@@markburton8303 So you expect the s/hand EV do do a further 180,000 miles on the mileage already on the car - say 200,000 miles without the battery's SOH needing at least some of the cells replaced ??? Think you might be raising your hopes a little too high imho Sure EV batteries can do 100k, a few fail earlier at say 50k but replaced under warranty... 12 years time, 200k - no warranty - think you need to reconfigure your spreadsheet to reflect the reasonable chance of some cell failure above 100k Personally I'd buy a cheaper recent £10,000 EV, leaving money ready to replace battery - especially if caning it on that much mileage, but to each their own

[@markburton8303]

@@authuruksake969 In short, yes, I expect it'll need some battery work, so I'm in line with your thinking. Incidentally, I picked the car up with 12k miles on it and perfect battery health. But, looking at high mileage EVs, I don't think battery issues are as bad as media (or some melts on YT) will make out - you don't need to go too far to find 'oh your battery will be dead in 5 years', which just seems to be parroted nonsense, or at least may have been true when related to the early Leafs with no battery management. Looking at a few Enyaqs (what I own) and Teslas that are used as taxis, there's good evidence to suggest that it will still be good at 180/200k miles, obviously with some battery degradation. And it's nice to hear you talk about cell replacing which is the reality rather than the usual 'it'll need a new battery and it'll cost £20k'. Like I said though, in 10 years ish, it will have completely paid for itself in fuel savings alone and that's not including money saved with servicing - oil, cam belts, brakes etc. So yes, I'm accounting for some battery work. Also remember that the average lifespan of an ICE vehicle is about 12 years and most are tanked well before 200k miles. Although, according to YT comments, everyone seems to be running a unicorn Ford Focus with 400k miles on it that they bought for 500 pounds and they spent nothing on it. Oh, also agree RE £10k EV, like a newer Leaf or something to do grunt miles.

[@nigelcox1451]

Of my three vehicles, my favourite is the oldest. Bought 14 years ago, when it was 4 years old, for £4000. Now on 95k, but running well. No idea what it might be worth, but it is not for sale until it, or me, dies. Very cheap motoring, so in this case, depreciation does not matter.

[@BillyBanter100]

The motor trade have run out of gullible mugs. Perhaps car companies will actually start making real cars again, you know affordable ice vehicles that people want to drive, or is that too radical.

[@trevortaylor4113porsche]

I want to buy a electric car, but I’m freakin stingy with my money, I’ve been watching the prices of evs over the last couple of years and the fall in depreciation prices makes me happy as a buyer( if you’re selling I feel your pain) I was looking at spending 20k but the prices just keep coming down fast, so I keep window shopping on auto trader and let someone else lose the depreciation money, in the meanwhile I will happily drive my z4 coupe until it’s like ok this is silly cheap and I will bite the bullet, And then it will be my turn to soak up the depreciation, but if I get 10 years out of it at 10 to 14k I will be a happy man, I will keep watching honest people like yourself and the market… I come from the past when you would get into a car put your key in the ignition and pull out a thing called a choke if you don’t know what a choke is it’s basically a car with Covid 19 until the engine warmed up..the choke still puts a smile on my face to this day, thanks to some very clever people you can now just push a button and your off 😊

[@robertkubrick3738]

You mean the people who invented Fuel Injection? I push a button on my Hyundai Sonata and I'm off.

[@BrainfromSpain]

Close your eyes and it's John Virgo!

[@ambassadorfromreality1125]

No its Bob Ferris from the likely lads(bbc sitcom from the 70s) Rodney bewes was the actor

[@terryburns2290]

Well said Barrie keep it going ! Look forward to the next one !

[@tomwalmsley1149]

great video barrie. even a drongo like me now understands how leasing works. keep em comlng mate

[@michaeloleary4071]

Poor old Mr Chew.

[@arandorapress7561]

Out of curiosity, what state are the batteries in in those new EVs that have been hibernating on an airfield or at the back of the dealer's yard for over a year? And, someone needs to teach some basic arithmetic to that chump who's telling you depreciation doesn't matter. If he's happy to spaff £40K+ on renting a car over five years he's got money to burn, which appears to have melted his own battery brain cell.

[@WeAreAllDoomed-n5i]

If EVs were the future, Duracell would be making them! As it is, they are far more clever than car manufacturers and sell more batteries to power toys from AnnSummers! At least they put a smile on their faces! Not give range anxiety and leave a sour taste in ones mouth.

[@Critical_Stinking]

A toy from Ann summers could leave a sour taste in your mouth, if it's been somewhere else before ...

[@alanpowell2849]

I was also in the motor trade for many years, and I'm so glad I didn't have to deal with electric cars. I treated my customers fairly and with respect and was rewarded with customer loyalty. I don't see how you can sell an electric car without hiding some of the negative aspects of owning one.

[@specialkcitizen6263]

literally zero negative aspects. I have 320 mile range which lasts me about a 7 days because in the real world Im not driving 250 miles per day. When I charge I do it overnight and it costs me about £7. I plugin once a week, sometimes twice. On top of that Ive never once had a single issue. Servicing and MOT irrelevant. 10% of the moving parts of an ICe car - very little to go wrong

[@BarrieCrampton]

And yet they do go wrong, and cost more than an ICE car to repair

[@nsweeney3970]

@@specialkcitizen6263 "Literally zero negative aspects" 😂😂😂😂🤣🤣

[@peterbell2947]

top man speaker of the truth

[@justinformed7367]

Starmer claiming that his father was a tool maker was a spelling error. He was a stool maker.......now it makes sense!, 😂🤣

[@ericpolak2915]

Good talk

[@seantaylor9758]

I've solved the problem! I've got a trailer mounted industrial generator I use for events. Tow bar on the EV and get someone to modify the EV to charge on the go. Job done.

[@johnmoncrieff3034]

As an ex finance executive I can assure all those who think that depreciation on vehicles doe not matter are COMPLETELY WRONG! That is the first port of call when working out the payment structure! IE an ICE Porsche for example, has a far lower depreciation than say A Porsche Taycan EV. the ICE car reduces in price by 15-20 % whereas the EV reduces by closer to 50-60% over the same period. When the monthly rent is worked out it is based on the balance between the new price and the depreciated value! So the rental on the ICE car is based on the 20% but the EV is based on the 60% That is if there has to be no negative value in the vehicles when the lease is ended! The ICE car will have a residual three times the price of the EV.

[@AndyK.1]

This needs pinning

[@robertkubrick3738]

And the owner of the ICE may well decide he wants to keep it. I really can't see that happening with a Battery car.

[@anthonydevono8833]

Resale/part ex/depreciation it all matters because if people lose money on cars to often they get scared of buying again.leasing on Ev vehicles is storing up issues for the future

[@robertpowell7672]

Try to leave an even slightly anti EV comment on a video and watch the evangelists come back at you.

[@nsweeney3970]

I thinks it’s because they drink a lot of soy milk whilst driving around in their Tesla saving the planet. Makes them very sensitive to inconvenient things like “truth” and “reality”

[@martinbrookes1372]

Evangelists or mugs who are stuck with worthless pile of EV crap ?

[@JeffPower-dv3zl]

Hi Barrie just thought I'd tuned into Dion of Doc Green Evening All ❤😂🎉😊

[@BJ_MBA]

I can't wait for the budget. If road pricing for EV's comes in that will really impact sales.

[@mikebreen2890]

Will ICE be exempt?

[@wizzyno1566]

​@@mikebreen2890ice already pay tax on fuel.

[@BJ_MBA]

@@mikebreen2890 No one really knows - we'll find out soon. I am a bit concerned the middle east kicks off so petrol etc jumps up again.

[@PaulDouglas-i5m]

​@@BJ_MBA Oil Shortages soon......Budget soon....Increase in Prices for the Car Driver soon.......

[@rbnhd1144]

Loved it, thank's Barrie, The customer always pays one way or the other, £40k for a 5 year lease and they are back on their feet with nothing to drive lol, should they go over the agreed mileage they will pay even more, what dummy would sign that lease.

[@Andy-zi1wj]

😂 That just proves you've no clue

[@rbnhd1144]

@@Andy-zi1wj So sez you, but that's no proof, lol.

[@TrueSkyl1n3]

@@Andy-zi1wjThis just proves you are financially illiterate 🤡

[@Andy-zi1wj]

@@rbnhd1144 show me a 5 year lease to start with

[@wizzyno1566]

​@@Andy-zi1wjwell done. No facts, just insults.

[@TheHateSpeechChannel]

EV = Exploding Vehicle

[@robertkubrick3738]

EV Evaporating Value.

[@MartinLovasz-r7r]

In short, the guy leases his EV not knowing what leasing is. 🤣

[@ohyesitsme]

Barrie, I think the lease compamy that you were referring to and went bust was called Ontu

[@macca9770]

The only constant in life, is change. Expect it and embrace it to avoid stress

[@bamboozooka-yk7qn]

leasing = owning nothing and being happy. klaus will be proud

[@limitedmark]

Thanks again.

[@willumwhitmore9419]

The depreciation does matter; the cost of the lease takes into account the end of term value of the car. If the value is lower then the payments must increase to recoup the value.

[@martinb2213]

Do people not think leasing companies build depreciation into the leasing cost

[@philmachunt3356]

Depreciation was an obvious problem due to the cost and life span of batteries. The 6k limit per year essentially makes the EV car less green than an ICE car, as according to Volvo you need to be doing over 7k/year in an EV before it becomes cleaner than an ICE car.

[@warringtonminge4167]

You also need to do that for 10 years before you've made up for the vastly increased CO2 emissions in mining refining and manufacturing an EV compared to the CO2 emissions in manufacturing its ICE equivalent. (I did read somewhere that it's 18 years payback time). That payback period also depends on 100% home generated solar power, not mains electricity which is still more than 50% fossil fuelled globally. If you use any supplied electricity at all your green payback stretches so far into the future that it will never happen, the ICE will always be greener.

[@leslie19611]

I don't imagine anyone would take that Honda lease deal when you can get one with delivery miles for under £23k so it's probably listed for some other motive, but you could also buy a brand new Tesla Model 3 for less than £40k.

[@aftonline]

Depreciation definitely matters for those who are constantly complaining about how expensive EV's are. For them it's an opportunity to get a good deal on a second hand EV, which is fair enough, if price is their only objection. Buyer beware of course, but price is definitely important.

[@stevoone342]

Good vid. To myself a leas is a false economy it like renting a car for three years with not really anything to show at the end. But it works for some, But to claim depression doesn’t affect leases Is MAD. Has no clue no clue.

[@STPOBB]

im not an EV hater.. but why are EV supporters nuts about EVs. its a generic title.. no one ever got nuts about petrol or diesel. onl;y the specific make or model of a car. so. critisize my sierra or mondeo. but not everything out there... anyway.. example of my pcp on a viva.. original cost. £13,500 new. by the end of my pcp agreement plus final payment. total expense.. £13,500. and I now own the car.. Current value. after 8 years. £6k to sell. £7k to buy in a dealer. If I chose to sell now. would be on its way tomorrow. and me with £6k in my pocket. compare that to buying a £40k EV which will get taken away in 5 years with me owning nothing... its a no brainer... plus.. with no charging at home. 60mpg. its cheaper to run than any EV using public chargers. plus. it would take me longer to get anywhere as I would be waiting to charge all the time. and sat in cafes . or service stations for longer than I do now.

[@SillySausage-mq3so]

If you rich it don't matter, just buy another one next year :)

[@wizzyno1566]

Totally missing the point.

[@robertkubrick3738]

I'm pretty well off. Looking at many people wealthy by their own efforts they all have one thing in common, they don't waste money. It seems that your comment is pointed to high earners who are buying cars subsidized by the lower earners taxes? The free stuff people will always be with us. My taxes have probably paid for the equivalent to at least one tesla from incentives.

[@stumpy2000]

I only lease as it's via salary sacrifice and I'm in that 60% marginal tax band, so on a monthly basis I save a fortune as I have home charging. Would not do a private lease like that, I can't believe anyone would be that daft. £600pm for a Honda E. I have a high spec Kia EV6 on 18k miles per annum for less than that.

[@wizzyno1566]

It's a no brainer for you. But you're earning 100k plus. There's not many of you.

[@stumpy2000]

@@wizzyno1566 exactly. Mind you even in the 40% bracket (where I was when I took the car) it was less than that Honda.

[@dingopisscreek]

I have a 2012 yaris. Bought new. I intend running it until it dies. I couldn't give a damn about the depreciation. It owes me nothing. 105000 miles and still going strong. The car is doing well as well.

[@oneeleven9832]

It’s easier to fool somebody than to convince them they have been fooled 🤷‍♂️

[@paulomoniz7326]

Great video.

[@stephensalt6787]

In the states Nissan have had a promotion on the Leaf, $2500 down and $9 per month just to shift unsold stock, an excellent deal but I’d think it’s business suicide.

[@robertdon777]

10K a year miles , 3 down deposit....£288 a month VW ID.3 77kw , Fully Maintained inc Tyres. 10K miles a year is £250 a year in Fuel in the ID.3 so you do have some running costs after the lease payment.

[@vacation_generation]

Keep winding them up Barrie. Great video, very entertaining 🤣

[@WeAreAllDoomed-n5i]

Didn't ElonMusk, Tesla make ventilators? Were they in preparation for customer reaction when told how much their Tesla had depreciated?

[@Steve-uu5tg]

Gotta say these pre-registered EVs are a bargain. The manufacturers have took the hit on them and they'll do 500,000 miles without a hickup

[@emmettculleton7165]

With a modern day, EV be still working 100 years from now like the gas cars still are

[@EVRealFacts]

People whose incomes depemd on not understanding facts.

[@mikewhitehead50]

I can't imagine anyone would take out that lease deal. I leased an electric Mini, so I haven't suffered the uncertainty of depreciation. It's worked out pretty reasonably. There's still plenty of good EV lease deals, which is just as well I suppose.

[@JeffPower-dv3zl]

Hi Barrie ive just heard that they are going to add congestion charge to commercial vehicles in London 😮😊

[@JeffPower-dv3zl]

Ps EVs

[@johnkeen4271]

Courts are going to be busy if no one pays the illegal ftl tax to use roads we pay for in our road tax

[@FolkinghamRob]

i’ve just had my beloved Range Rover stolen. I will be getting the bus from now on 😊

[@douglasmorris8364]

Good evening sir.

[@matthewgodwin3050]

I bet that if you phone the Honda dealer and tell them you're looking for a pre-registered Honda E for immediate delivery, that you're flexible over colour, that you've no part-ex, and you have a budget of around £17k, I can almost guarantee they'll let you have one; especially if you call towards the end of the month. Dealers are so desperate to get rid of EV stock, they will take low-ball offers. I tried this with Volvo, and could have gotten two pre-registered Volvo EX30s for £50k the pair. They were even polite!

[@steviewylie5267]

Thats why they are called EVANGELISTS.

[@dingopisscreek]

Most things depreciate in value. But nothing depreciaties like an ev

[@markevans5892]

It’s the same with everything new, it takes a while for prices to settle down. Most people don’t even buy new cars let alone EVs. Fact is the business world that is buying into EVs are taking the hit on depreciation in the majority of cases. That’s what has given you so many secondhand EVs flooding the market so quickly, which along side the current financial situation has forced the prices down. Thought you’d like the fact that it’s giving people the chance to get something considerably cheaper than it would have been otherwise.

[@rbnhd1144]

Sounds like your trying to turn a negative into a positive, but wait that depreciation will continue, dropping like a Rock until the owner has a vehicle with no value and much quicker than ICE cars.

[@fivish]

6,000 miles is low so the £s per mile will bring the cost well beyond £40,000. Just buy a Lexus UX for £38,000 and have it for 30 years!

[@nonotorious1467]

There's lots of new religions these days.

[@Lockwoodbeck61]

I would have no problem buying an ex lease "normal" car. Wouldn't touch an ex lease ev with an extra long barge pole not now not ever.

[@WokeSteve]

Trouble is when the battery needs replacing the car is junk.

[@tonyprice-j2p]

Ironically the ad before the content was for a ford explorer. An EV.

[@Bluescooby1]

I got a BMW electric car ad before the content!

[@chrissmith2114]

I am shocked that people can still lease an EV, they must be a huge financial loss to the lease company, and how much longer can they continue to lease out a vehicle that has such a small residual value..

[@daveryder4430]

We bought our MachE on a 48mth PCP (guaranteed residual) , costs defined beginning to end. If I choose to exercise the exit clause we hit the 50% point some months before then. I do suffer a little exhaust envy at times though. I likely not touch an EV if I was doing 20Kmls per year.

[@Alantj22]

Why? I bought an EV precisely because I was doing nearly 20k a year and the cost of petrol not to mention maintenance and repairs was becoming ruinous. Tesla model S, it's now 5yrs old and 90k miles, no reason to change it as it still runs/looks like new.

[@MarkyBoy-z5w]

A horse badge on an EV SUV does not make it a Mustang 😂

[@bigfluffytowels]

Business Lease always worked for Mercedes CL, no one bought cash.....ever.

[@michaeledwards8079]

the reason the Honda e is still on the forecourt is because it is overpriced, the value is only £17000 according to parkers, my ora is now a year old and I pay £247 a month for it, but the same deal is now £699 per month

[@philipshore6924]

I've never had a lease or PCP, but I assumed the driver is only committed to the monthly payments to the end of the agreed term. Wow, another finance mis-selling scandal in the making ?

[@tokoloshimampara9932]

The leasing companies are only going to absorb these losses for so long and then it will be back to HP after which these numpties will be crying. The reality is they are in Cognitive dissonance mode and are trying to convince themselves that they didn't make a stupid mistake and are fast diving into negative equity. We can see it, we know it and really we should just sit back and enjoy their misery because it truly is extraordinarily funny.

[@stevehayward1854]

Depreciation effects all cars ICE, Hybrid or EV. ICE prices are about to fall through the floor as dealership lots are bulging with unsold ICE cars. In 5 years time Hybrids will be worth nothing as the myth of range of BEV's will burst. Hybrids are just a stop gap for people that want an BEV but are unsure about range and charger availability but that fear is fast disappearing, as the charger network rolls out, especially here in the UK, presently there are 70k chargers at 35k locations with 103k connectors and increasing by 2,100 a month.

[@nsweeney3970]

Really so where are all the stacks of pre-registered ICE cars at dealers on Autotrader by comparison to all the EV's we've seen?

[@mikerittmanreborn4955]

BARRIE IS A 70S ADULT MOVIE STAR.

[@AlexLancashirePersonalView]

It is the power storage and generation that is wrong with EVs. Not yet fit for purpose.

[@pv7444]

thinking of buying a 3 year old Porsche taycan as a town car as I only do 20 miles a day .good ideas or not? surely it can't drop in value

[@robertkubrick3738]

Yes it can. So many things on it could have been on a subscription service rolled into the purchase price. When you start getting nickle and dimed for things like heated seats costing you 700 per year and the functions on the screen also have a subscription and 1500 for the low voltage battery replacement, they can become less desirable.

[@grahamdavison4954]

Evening Barrie

[@RobRob-w4q]

All cars depreciate the luxury ones the most. Fact of life most things you buy do ? With a few exceptions. Even house , get over it.

[@BarrieCrampton]

lol, Ostrich syndrome congrats on demonstrating it for me

[@RobRob-w4q]

@@BarrieCrampton what ever, in life it's mostly about timing buy at. The right time or you don't,

[@stephen25uk]

Ah, tell me again, you´re not an EV hater 🤣🤣🤣🤣🤣🤣

[@BarrieCrampton]

@@stephen25uk I’m not an EV hater 😂

[@fredfred2363]

Honda Es are great little cars. But. Was looking at them- but they have shockingly poor range. In winter, only 80 miles.

[@Fred-gu6pk]

Regarding that Honda at £22k. Is there really a car market for the blind?

[@goingEVandmore]

As an EV owner depreciation hurts, especially when manufacturer (VW) slashed new prices a few months after I took deliver of mine 😡 But is it true that most new petrol/diesel cars lose 40-60% of their purchase value within 3 years? From your experience of the trade what 'regular car' lost most value in 3 years, the Austin Maestro 😁

[@wizzyno1566]

Every car depreciates. EVs depreciate more. That's just a fact.

[@nsweeney3970]

Bread and butter, blue collar cars for the average man and women like a gen 1 Ford Focus would probably take at least 10 years to lose that kind of value in the stable market we used to have in this country pre-Covid and before EV’s that nobody wants to buy started getting pumped into the market and wrecking it.

[@the51project]

To be fair, if there is a massive war in the Middle East, then EV's will become far more valuable and sought after. Not the best way to increase market value.

[@robertkubrick3738]

I doubt it. We are actually in the middle of an oil glut.

[@WeAreAllDoomed-n5i]

Car leasing! Oh just wait till Motability leases are up! That'll cripple them! LOL

[@kevinmoffatt]

Unfortunately not because its wholly financed by the taxpayer.

[@chrissmith2114]

'EVangelists' name covers the EV nutters..

[@technohamster4783]

The guy your on about only posts memes if hes so sure about his finance deal let him post his actual deal.

[@mikebreen2890]

Second hand EV's are excellent value. And my EV has depreciated less than a Vauxhall Astra.

[@wizzyno1566]

My first reply was deleted. So lets go for: what was your ev end when did you buy it?

[@nsweeney3970]

Thank you for posting the most vague and meaningless comment in the whole of 2024 so far 👏👏

[@martinmcg7980]

Not doing yourself any favours by showing a really rubbish deal that is not representative of whats available out there. I support what you do but try and be a little less an easy target.