I've OWNED an ELECTRIC CAR for 3 YEARS. It's ALMOST TIME to HAND it BACK. I rEVeal the TRUE COST!

[@pedro.please]

if there was an award for youtubers that can drag their videos out, you would win the award of the century

[@hughdunit]

@@pedro.please but you know, I will still watch them 😏

[@bainies3272]

The takeaways from this: 1) Don't buy something for £120k without understanding the finance agreement 2) Don't buy a Porsche electric car as the build quality is questionable 3) The only way to make sense of buying a £120k car is to make KZbin videos EVery week of how miserable your experience is 4) Buy a Tesla, faster, better warranty, and if Lee thinks you look like a knob you are probably doing the right thing.....

[@pinkoddballs]

It is a bit gutting that someone who can afford a Taycan and then is looking at a 911 can't even figure out how PCP works

[@jayshah8455]

Should have got a Tesla

[@organickevinlondon]

The Mac Master has NEVER owned an EV, as he has just been making monthly payments to drive one, whereas, I bought outright my Mini Cooper Electric, with no intention of ever selling it, 4 and 1/2 years ago, to replace my Mini Cooper 1.6 petrol, despite its manufacturers stated range of 145 miles, it works perfectly for me, as no matter how I drive it, i.e. on motorways at 72 mph, at any time of the year, including in the middle of winter, with whatever switched on, heater, air con, lights, wipers, it will easily do 100 miles, (170 miles is the maximum range I've got out of it), as 90% of the time I drive it, involves journeys of less than 100 miles, (I'm an ex international HGV1 driver, so I've done enough long drives) so I can do that under 100 mile journey, getting back home, to charge up at my local FREE public EV charging point, as I live in London, I don't need to drive over 100 miles in one day, that often, and on a London to Lands End and back 560 mile day trip, it only requires about 1 hour of en route charging, on the London to Lands End part of the journey, unlike the Mac Masters £120,000 Tayan, which manages, a very energy inefficient 2 and 1/2 miles per kWh of battery power, my Mini Cooper Electric, easily does 4 miles per kWh and up to 5.8 miles per kWh, so its damned cheap to run, especially with the FREE charging, servicing costs per year work out to about 60 quid and its tyres, last the same miles as they did on my old Mini Cooper 1.6 petrol, to me, "owning" a very economical small EV, is perfect, for both short and long journeys, instead of making monthly payments, on an overpriced EV vanity project, that I simply couldn't afford to buy outright.

[@ivanfernyhough3851]

Its s good job you have no intention of ever selling it because its now worth about 10 quid and will be landfill within a bout 6 years.

[@trickshotish]

@@organickevinlondon £10 well what a lovely buy that will be . I best get looking for a second hand Tesla . So what will I have to pay £20 lol can’t wait . I own a mg5 paid 22 grand for it two weeks ago but if I want to buy one 3 years old with 40 thousand on the clock they still want a minimum of £10 grand for it . According to the calculations I should be able to buy a 3 years old old mg5 for 50pence 😂

[@organickevinlondon]

@@trickshotish GROW UP you imbecile

[@mikemorley2797]

TAKE YOUR CAR BACK AND GIVE US ALL A BREAK!

[@petefisher9157]

Only the 302nd video about the same thing.

[@FidunFittu-gl3hg]

I thought it was his 298th video...

[@jsanders100]

Lee, are you really claiming you didn’t know this? Everyone knows they have the option to hand the car back!

[@johnlee4897]

Economics of a madman. 80 grand depreciation! Your extended warranty alone costs more than my diesel for an entire year.

[@chrisaris8756]

Yes that’s right. All PCP agreements are the same. We had a car on PCP and once the finance term expired we could just hand the car back as long as it was in the appropriate condition. Had we wanted to actually keep the car we would have had to pay the outstanding balance. And yes if you’ve exceeded your mileage allowance you’ll have to pay for that.

[@autobahnproven]

The video title should be: I've FINANCED an ELECTRIC CAR for 3 YEARS.

[@Hi---There]

@@autobahnproven Humiliating myself three yeas straight, for own money, in the name of EV(il)

[@Timmymao163]

He didn't even finance it, because that implies ownership. He just leased or rented it, and is paying for the extra miles at the end of the contract.

[@lordkered]

If McMaster drops electric cars, that'll be a wrap for his KZbin career.

[@imagseer]

Unless he then flips and finds out he really wants an EV back because mechanical cars are no longer what they were before 2016.

[@mickhardstaff6605]

There is always fish and chips to rely on 😂😂

[@TheMacMaster]

Or I could always fly somewhere like say San Francisco and film that! Oh hang on... I did that today.

[@Tailspin80]

@@TheMacMaster The EV wasn’t to save the planet then?

[@philzvids3577]

I mean this in the nicest possible way, but I can't believe you signed a £120K PCP agreement without understanding the terms! I thought the garage had a legal obligation to make sure that clients fully understand what they are signing for. Very few people pay the final 'balloon' payment and keep the car. Generally, they sign a new agreement and have another car. As you said in the video, if you want to walk away at the end of the agreement you can, as long as you cover any excess mileage and your monthly payments were all made. What I hate about PCP is that you are basically renting the car (at great expense!) At least with HP you get to own the car at the end of the agreement. The only danger with HP is that if you have trouble paying they will literally take the car back, so sometimes it's better to get an unsecured personal loan. But the bottom line for anyone considering borrowing is if you can't afford it, don't enter into a finance agreement.

[@davidtaylor7477]

Don’t be fooled, he knew!

[@DavidLynch-b5q]

I can't believe you didn't know this before. At the end of the agreement you can either return the car or pay remaining balloon payment to own it. It will be clearly laid out in your agreement.

[@stagghouses4826]

Moral of the story. Don't buy anything you cant afford to buy outright and except the losses (VAT) as you drive it off the forecourt.

[@robburford4168]

so correct me if im wrong, you've parted with roughly 70K over 3 years, and you'll own nothing at the end of it......that seems pretty mental to me and a v expensive mistake!!

[@NewWorldHoarder]

Not being rude, but how can a man have the funds to walk into a showroom and sign up for a £120,000 car but not know (or ask) how PCP’s actually work? 🤷‍♂️ The ‘balloon payment’ is there as a final settlement if you wish to keep it. If there is a shortfall, you chuck the keys on the desk and walk away. Excess mileage charges will be sought in your case, and any damage beyond normal wear and tear will also land you a penalty. Qualifications: long career in car sales, and several years as a Business Manager (the twat who sells all the finance products). 😉

[@BionicRusty]

Almost time? Nearly a year away. Come on, Lee. 😂 And I cannot believe that you’re thinking of another ev. 🤯

[@DwaynePipes]

That looks accurate in the MacMaster universe. Remember, "The chargers are ALWAYS BUSY"! (Except when they're not). 😂😂

[@kevinwhite8836]

@BionicRusty I bet he packs his suitcase, 6 months before a holiday too 🙂.

[@ultrono23]

Most I know with an electric car have one just because they fast and have disposable income. I have no doubts that one day EV's will be the standard. At the moment there's essentially no second hand market. the infrastructure simply isn't there at the moment and the plethora of issues with batteries. If someone was forcing me to buy an EV today, I certainly wouldn't be buying a Porsche. I'd probably get a Tesla, which are still expensive, but in the ballpark of a petrol car. Long time viewer here, I'm blown away you're even contemplating another EV.

[@sacks7544]

How would you not know exactly what you needed to pay at the end? Option to purchase fee is if you wish to buy the car outright.

[@RobinOsborne2312]

Porsche Nottingham are totally correct and I am amazed you didn’t read the agreement properly. We have always used PCP for this exact reason -ie if the bottom falls out of the used car market you can still get out of the vehicle without being penalised. Your excess mileage will be quite expensive mind. Good luck. Keep up the the great videos

[@roystonclough6993]

When Salesman see you coming , bet they can’t stop laughing .. Another Tom Ford suit for me , The salesman says ..😂

[@R8135003]

next time read the agreement before you sign. or take a grown up with you. standard ppc policy. happy days.

[@andljoy]

You will own nothing and you will always be charging .

[@autobahnproven]

@@andljoy CLASSIC! 😉

[@infinitelimitlesslightx5437]

😂😂😂

[@GraemeCampbellMusic]

We never owned anything in the 70s and 80s, we rented our TV, Video, washing machine, house etc

[@DJRyanJamesUK]

@@GraemeCampbellMusicdid we? The only thing I don't own outright and that is yet is my house?

[@MrBigbangbuzz]

Gold 😂

[@malcolmsutton6740]

That about the PCP is not a revelation, it is part of the normal conditions.

[@SurrealWorldNews]

No...don't buy an expensive EV just to run around town in. Buy a small petrol/diesel car registered after 2010 and before 2017. Cheap on tax, insurance and one tank of fuel will last months.

[@dghdavies]

I'm astounded you haven't read and understood the T&Cs of your finance agreement, what it did and didn't cover and for how long. To help you make up for this I can offer you a 50% discount on my new development of beach front properties in Birmingham.

[@willbee6785]

@@dghdavies 🤣🤣🤣🤣

[@YOUNGBEHR]

Now into my 70's Petrol & Diesel's will still be around during my lifetime and I certainly won't be buying an EV.

[@tonyc2837]

The salesman is correct. The balloon payment at the end of the four year term GMFV , guaranteed minimum future valuation is the figure they work off . Unless of course it’s worth more. But like you say if you’ve exceeded the agreed mileage you’ll have to pay so much per mile above what was agreed.

[@pauldowninguk]

Hang on! I thought you bought the car on normal finance? That's what you said at the start and the reason why you would be out of pocket. If you can just hand it back, and have only had to pay the monthly payments what's the problem? Porche have suffered the loss and not you? Come on, what's the truth 😋😅

[@djhvideo]

Exactly what I wrote. Assuming he was happy with his monthly payment (And initial deposit) then he has no risk whatsoever. At the end of the PCP either hand it back or pay the final payment to keep the car. This final payment is set at the start so no risk to MM. He has been stringing us along all the time. With falling used prices i reckon it's obvious to hand it back. So there never was "negative equity".

[@kevinwhite8836]

For someone who details every little thing, I find it hard to believe he didn't understand how a PCP contract works 🤷. It states it everywhere on the paperwork how it works and that you can simply return the car at the end or purchase it and pay the balance. Most also give a guaranteed value at the end date, so you know the balancing payment you would need to make from the outset.

[@steveross8326]

Sounds like you haven't fully understood how a PCP agreement works. If youre going for another Porsche, get it from the same dealer, any over the top mileage, or minor damage penalties will be miraculously forgotten.

[@jep1912]

YOU DIDN'T 'OWN' ANYTHING............ YOU RENTED IT. ffs.

[@grantrandall1674]

@@jep1912 I used to think like that but why do you need to own anything? you just need to right to use it!

[@richardr2716]

@@grantrandall1674 sometimes renting is the best way to be that way if u find yourself in financial hardship and bailiffs turn up they can’t take anything

[@johnathanpearson3203]

You will own nothing and be happy 😅

[@markmitchell4179]

I know lets take advice on EVs from a man who thought he'd bought a car (for 120 grand) when he actually hadn't.

[@watchanything-c7r]

it more like a lease cant stand people when they say they own it when they dont as its actually pcp which is actually similar as lease

[@Paulburnard]

Strange comment as the running costs are the same if its bought or leased.

[@TheMacMaster]

TAKE ADVICE FROM SOMEONE WHO HAS OWNED AN EV for 3 years!!!! Electric Cars are SH*T!

[@DwaynePipes]

​@@TheMacMaster "HO HA"???? Either Santa is drunk or someone needs to borrow their young son's spelling aid cards...yet again! 😂😂😂 Edit: I see that you corrected the mistake. Sobered up?🤣🤣🤣

[@Tailspin80]

@@TheMacMaster My objection is that they are like cooking on a microwave when you could be using the barbecue.

[@jimreece7615]

On the bright side; it’s been more reliable than a JLR ingenium !

[@pogglefishii6807]

Yes, all PCPs work like that - the guaranteed future value works *both* ways, they must honour it too. If the car is worth less than that amount at the end then they have to swallow the depreciation if you hand it back.

[@robblack7560]

@@pogglefishii6807 I would hate to be the loss adjuster for that PCP Company.

[@richarddoherty5987]

In limited uses cases (eg for tootling around town and where one can charge at home on a drive ) BEVs have their place. They are not however a 'one size fits all' solution to a (perceived) problem. PHEV's would be a more pragmatic solution. The full life cycle carbon emissions of a BEV EXCEED those of an ICE. The greater the range the worse this gets. The 'green option' imperative is UTTERLY bogus. Emissions are simpy displaced in time or space. The practical issues of BEV ownership include The obvious range anxiety issues and the stress of trying to plan lengthy refuelling stops that may well involve downloading apps and information exchange with random 3rd parties. They depreciate faster than a falling brick. Should the battery be in any way compromised (even in a minor shunt) this can be a VERY expensive repair. Also potentially in a worst case sceanario when damaged it can result in an inferno. For the above and various other reasons they are more expensive to insure. Thanks to extra power and the extra weight of a battery that typically weighs the thick end of 20 bags of coal they chew through tyres. Generally car manufacturers are turning cars into computers on wheels. Personally I don't want any 'smarts' on my car beyond ABS and power steering. I don't want to have to use an 'App' to interact with it. I don't want to have an 'immersive experience/relationship' with it. I simply want it to go from A to B devoid of all opinions. I would like it to have a spare tyre.

[@moragkerr9577]

No, life is too short to refute all these falsehoods one at a time.

[@hunchanchoc8418]

£1777 a month for 3 years, to not own anything at the end of it. Geoff's new car cost him £1500, once, to own. And as Lee's mum said, Geoff's car transports him from point A to point B, just like the Taycan, but with the bonus of no range anxiety.

[@EverydayLife621]

My understanding is that Lee was paying around £600/month ??

[@peterbunting8485]

@@EverydayLife621 he must be paying alot more than £600 a month or put down a big deposit as the porsche was £120,000 new then after 3 years he owes £54,000 on it.

[@Ian8008]

It's a revelation to me that you entered into a £120,000 agreement without understanding what you were committed to!

[@davidhumphreys9938]

He probably did know, but he kept it quiet so that he could make numerous videos about how much he has lost on his car!

[@ricardas16]

@@davidhumphreys9938 he's after all click bait master

[@NeilBarratt]

I wouldn't be surprised if his accountant thought it was a good idea. I had an accountant who thought his role was to minimise my income tax rather than maximise my income.

[@paulnewman9275]

@@Ian8008 Maybe he was naive enough to believe the hype ? Reality is very different .....

[@DaveVantage]

Mind blowing isn’t it 😂

[@rosshornby8968]

Most car finance agreements allow you to hand back a car if you have payed 50% or over at any point in your contract , you simply tell them to collect it and you walk away from it 🤔

[@segacollect]

When I have had PCP in the past there was always a guaranteed final value which covered whatever was owed. If you get a good interest rate then PCP deals can be a great way to have a nice new car for a few years without worrying about values. I’m surprised the person who sold it you didn’t make all this clear at the time, although getting a new car is very exciting so maybe you weren’t listening 😅

[@ellisjames8517]

After every sentence you need to say “unless you get a long range Tesla” 🤣🤣🤣

[@chrisbell5248]

I can't believe you entered a PCP plan without understanding how it worked. And then you are shocked by the deprecation - nothing to do with being electric car but more about being a high tech luxury car, the depreciation is no different to what you would expect from a high end luxury car like Jaguar.

[@charlieking6718]

Almost time to hand it back !!! 10 months 😂😂😂

[@peterbunting8485]

Yeah, 10 months is long term car ownership for me!

[@gavinsmith9016]

Lee, Porsche Nottingham are correct. Typically a PCP deal is made up of 3 components: 1: A deposit, 2: Finance agreement for an agreed period. Your agreement is for 48 * agreed monthly payments. Your monthly payments assume a certain mileage per year and you pay any additional milage off yearly, 3: An optional balloon payment to buy the car outright at the end of your finance period. You are quoted this sum on your original paperwork. The balloon payment is optional for you to pay. If you pay the balloon payment, the car is yours, or you can decide not to and hand the car back and pay nothing more, subject to any excess mileage fees - you've effectively rented/leased the car in that scenario. Also, you could have handed the car back early if you have paid more than 50% of the finance. So you can hand it back now if you've paid more than 50% and just walk away....now!

[@actualfacts1055]

What's the difference between an old radio and a Tesla, the Tesla has the knobs on the inside.

[@jep1912]

You've basically rented a milk float at extortionate cost because you thought it would place you above the little man on the road and within suburban hell... And own... NOTHING. So, you now have to find another car, with no part-ex to trade-in against it. CLEVER, VERY CLEVER.

[@Matthew_Loutner]

Guy rattles off a whole list of repairs he had to make to his brand new Porsche and concludes that Teslas are "garbage." 😂

[@jaza23-jo6ze]

😂😂😂😂😂😂😂😂....the twat master

[@ivanfernyhough3851]

All evs are garbage.wouldnt touch one with a barge pole.

[@mikewallace1723]

Why does he owe money if on pcp? You simply wait until the agreement comes to an end and then have options. You can walk away and owe nothing subject to mileage excess and condition. Excess mileage charge must be high and he’s gone well over the limits set ( to keep monthly lower).Trade in (which you can do at any time and pay off loan, if lucky)and hopefully get more or pay the minimum guaranteed final value and you then own it. Then there’s thirds and halves that any finance agreement comes with. At halves I think you can hand back and owe nothing . Not sure why it needs an extended warranty for 10 months.

[@OttoTalksAi]

Another electric car as a replacement for the views of course

[@ricardas16]

he'll probably keep this one

[@kevinwhite8836]

@@OttoTalksAi He will get a Tesla next, given how much he slates them 😆.

[@lawrenceappleyard3971]

I watching you video about handing your car back. I thought you just handed it over or paid the final agreed payment. I could be wrong. I went to buy a new car yesterday,I set off to buy a hybrid. But came away with a 2.0 lt diesel. It isn't your type of car but it's got as many extras fitted as your milk float. It will be my 5th Skoda. It will be my last I will be buying as I'm coming up to my 73 birthday. I ended up with a newest model Skoda Superb Diesel Estate 2.0 TDI 193 L&K 4 x 4 DSG. Hope you've ordered your 911.

[@Andy-zi1wj]

Has that got the £600 a year tax

[@FactsnotFiction555]

At last! The MacMaster reveals he's on PCP deal!.. and there's always been light at the end of the tunnel. Lessons learnt from this.. read the contract before you sign it, you should have known you can hand car back. The residual problem was always Porsches problem, their the ones that got their calculations wrong. Your other problem was your mileage prediction, at 14k you were wildly out and will have to pay. As for your choice of car once you decided to buy an electric car, and I'm going to say it, in your circumstances you should have bought a Tesla! Reasons why?.. Firstly 4 year warranty, £1300 saved.. Next to no servicing costs, thousands saved.. Proven battery life and finally, cheaper and more reliable public charging. And FYI I don't own a Tesla but I do lease, a cheap PCH deal, an electric car which I only charge at home, as well as a hybrid car and a petrol car. What ever you do in 10 month's time don't "buy" another electric car and stick to making your food videos.

[@davideptr]

Great video. Your "discovery" is part of the basics of any pcp agreement. 1) you refinance 2) you clear your debt and car is yours 3) you part exchange 4) you return the car assuming your mileage was what agreed otherwise you pay the excess and handover the car. No offence but you should have known this at the time of purchase

[@davidviner4932]

You never owned it, you rented it until you paid the balance due

[@curtisj2165]

Very expensive rental. All that money spent and no car to show for it. Madness

[@holdontoyourwig]

Ive just driven from Durham to Berwick and back again. 193 miles round trip. My Mg has a range of 270 miles. Got back home with 66 miles left in the battery. Only 11 miles less than it claims. Cost....about £5 to charge it back up at home. Obviously its no good if you travel hundreds of miles a day......durrrrr. For 99% of drivers an electric car is FARRRRRRR cheaper to run that a petrol or diesel.

[@peterbunting8485]

So it's cost you what..........17 or 18 grand a year to drive around in a car that doesn't really suit your needs? And after the 4 years you have nothing to show for it other than no car and alot of wasted cash?!

[@jamesparker-th1wp]

Hi Lee we have just been forced to have a Volvo ex30 as the work lease company have stopped supplying any other vehicles. We have 290 mile range until the heated steering wheel comes on then it 270 range put the de mist on drops to 240 range heaters on 190 range. Having to get up on holiday at 5 am to get to the only working charges before it gets busy in the area. Having to charge at home every night I can agree with you these are not the future. Ugly doesn’t come close to what it is the inside is made out of recycling materials which you can clearly see when opening the door😂 keep up the great work travel food tech

[@jebtaifanc56]

As others have said you haven't bought anything. You will have been renting it for three years. And who in their right mind would actually buy an EV with crippling depreciation. Price new £125,000 & after just over 2 years £30,000 ( If you're lucky & dropping by the hour) I'll stick with fossil fuel or Hydrogen when they replace EV's

[@kyleneeson1878]

Hi Lee, I’ve had PCP deals in the past, and I paid a deposit and the monthly payments. Once the term was up, I could walk away at the end or trade it in against a new car. No final payment apart from any relevant excess mileage charges, or damage charges which I never have had because I keep my cars in pristine condition. Get rid of the milk float and back in the 911 lol

[@philmcguinness669]

So you didn't understand the contract you were entering in to then

[@jackwatsonepic626]

I was always told off my grandparents never to buy a brand Spanking New car from the Showroom .... Always go for a car which is about 2 years old it will be a lot cheaper and don't get a big gas guzzling car either because a small car will get you from A to B exactly the same ...? It is the same with travelling first class & second class on a train , works out about £50 cheaper depending on you're journey 🤔 🏴󠁧󠁢󠁥󠁮󠁧󠁿 .

[@raymondcragg7282]

Serious question for you. Why would you buy an electric Porsche when one of the main reasons to buy a Porsche is for the throaty roar of the engine?

[@PsychedMedia]

Even the latest 911 sounds like a vacuum cleaner

[@ianhayes1570]

Why don’t you VT (read the Voluntary Termination clause) the car or change it now as you don’t ned to wait for the full PCP term to finish. Speak to the dealer

[@simonhutchings6073]

Bin the EV and keep hold of the Volvo 850 sorted Lee 😃👍

[@andrewellison1203]

I agree Lee 👍

[@PaulCopp]

Its sounds as though all of the headlines about losing a fortune on the car was false information. It was never purchased outright, but on a PCP deal where there is an agreed future value at the outset, so any value on auto trader etc. is irrelevant, you can hand the car back at the end, and provided you have complied with the deal, nothing will be owed. As for comments about 'would you buy a used EV?', well yes, that's exactly what I did, after someone like your good self had kindly paid for all of the initial depreciation. If you buy the right EV, having done some research, there are bargains to be had on the used market. Just over two year old Tesla model 3 with low mileage and two years warranty and 6 years battery warranty remaining, for almost half of the new price. Super fast, cheap charging on a network designed by the car manufacturer, zero maintenance costs, and almost runs for free when charged at home, what's not too like? I can agree on needing home charging to make it a realistic proposition though.

[@CosmicSeeker69]

You just summed up the sort of divvys that consume this garbage..

[@Ian-r7d]

I had a second car on a 4 year PCP. After 3 years, it was no longer required. There was an option on the PCP to hand the car back after you have paid HALF the finance, which is what I did. However, check the small print, as there was an option to make you pay more after the car went to auction. After the car was collected, I heard nothing, so saved a year's worth of payments. Also, as I handed it back early, the excees mileage payment didn't apply.

[@killmozzies]

This man is a lesson in life of WHAT NOT TO DO.

[@rinibrugel3573]

I bought a new Holden Cruze diesel in Australia in 2012 and in all that time it has cost me a total of $1200 in repairs. My first and major repair came after 10 years of ownership when I needed a new intercooler pipe. The next repair was a new surge tank for the cooling system and that is all.

[@glynowen6507]

PCPs were introduced into the UK over 25 years ago. Your revelation that you could hand the car back at no cost(with the exception of excessive mileage costs) is pure BS. That option has been part of any PCP contract since day 1 and would certainly have been the case with your car. I don't think you are stupid enough not to have read the contract when purchasing such an expensive item. I can only conclude like a lot of your videos this is just designed to wind people up. If I'm wrong and the option to hand the car back and walk away was not on the VW finance agreement I would report them to the FSA as the contract would be illegal. Having spent 20 years in the car business I know for a fact that the option would have been there. The final payment that exceeds the value of the car will indeed produce a loss, a loss that will be incurred by the dealer if you hand the car back and walk away.

[@leccy9901]

It's called guaranteed future vale. So if a car typically doesn't lose a lot of value, your pcp payments will be less. Its the agreement you sign when you purchase the car. The fluctuating market doesn't affect your monthly cost, or the cost of handing a car back.

[@jonathanbowles2577]

Good Evening Lee. That is very Good news to hear. Is the Warranty actually worth the paper is is printed on?? As soon as you have gotten rid of your EV, and purchased yourself a Petrol or Diesel vehicle, You will be much better off. What you were saying about the Depreciation in the vehicles actual value, it really is an eye opener and makes you think. I am deffinately Keeping my very Special Pride and Joy. I really Love my Diesel Audi A3 TDI Sportback. No amount of Money, would make me Sell my vehicle. He is mine Forever!!!!!!. I am very pleased for you Lee.

[@andysmith2855]

I’d investigate if you can do a VT (voluntary termination). If you’ve paid 50% , you can walk away (may be subject to the excess mileage charge) now 👍

[@wingco111]

I so hope you're right about the depreciation I'm driving all all electric BMW i4 and it's brilliant, However its a company car so it's not cost me anything. After three years I have the option to buy it and if you are right I'd be mad not to. Finding chargers has not been a problem as I always plan long journeys in advance. My longest regular journey is Cardiff to Chislehurst to visit my son and in the past we have always stopped off at Reading services for a pee and a coffee + snack. In the time it takes to do that my EV miles gets topped sufficient to get us to Chislehurst, then doing some local driving and then get us to Reading again to do the same thing on the way home. I've got a home charger and that cover most of the mileage I do. I honestly can't see the downside.

[@Karl-q6j]

You didn't pay £120k at all you got it on finance which will include interest so plus £120k.

[@davapod]

My 2006 Mazda 3 is still getting me around without issue. I do the basic servicing myself and would not be surprised if it lasts another decade.

[@steviewylie5267]

As others said not exactly nearly time to hand it back if there's another 10 months to go hahahahaha 😅😂

[@dougedwardsyachts]

Two people close to me have gone from full electric back to hybrid, both have home charging too. I’ve got turbo petrol and turbo diesel and no plans to change in my lifetime.

[@john-g7l3c]

why would you enter such an expensive finance arrangement without understanding the terms? Foolish.

[@georgeian3243]

Watching from Canada…leased a 2021 Toyota RAV4 hybrid, still working great, no problems other than a red squirrel that got into my hvac system. Gets 40 mpg consistently, starts at -25C no problem, lease up in February 2025 and I have a CAN $19k guaranteed buyout…love this car.

[@Timmymao163]

Save your pennies for the inevitable hybrid battery replacement at $10K or more.

[@geoff37s38]

You did not pay 120K for the car as you keep claiming. You entered into a finance agreement that you did not understand. You agreed to pay a specified number of regular payments and if you hand back the car and terminate the contract early then you still owe the future payments.

[@simonw178]

not entirely true. Under a PCP contract once you've paid half the total amount due you can walk away.

[@geoff37s38]

@@simonw178 He keeps banging on about the terrible depreciation, but it was never his to sell. This was more like a long term rental agreement. It is the finance company that wears the depreciation. I wonder what his monthly payments are?

[@sushiginger444]

@@geoff37s38he did say once. Think it was about £1200 a month.

[@geoff37s38]

@@sushiginger444 he has a great deal. Payments less than depreciation. Finance Company will lose big time.

[@kevinwyatt9771]

Did the selling garage not explain about pcp when you "bought it"? 3 options available, pay off and keep it, swap in and use any residual or simply hand it back

[@Jan-iq5sm]

I’m a bit concerned about Your judgement, Lee . This deal was obvious to most : a rip off .

[@rbnhd1144]

Lee got a Taycan because he wanted a Taycan, the car looks beautiful and is the best colour I.M.H.O., I think he bought it because he has always been an early adopter of high tech, the depreciation happened well after he signed the agreement, the issues of living with an EV came soon after he got the car, then the warranty issues piled on, of course he is going to make money off it on You Tube, we all would.

[@Anonymous-ib8so]

I used to work for a finance company and we always found it amazing that anyone would be daft enough to buy on PCP. You are paying masses for a car that you do not own and when the lease term is up handing it back with nothing to show for the thousands you have paid in the meantime. You are like a hamster on a treadmill

[@TucanoTMK1]

All New Cars are a Wast of Money

[@Rambo9700]

It just allows people to drive cars they couldn’t afford. He says he owns it, well if he owns it why is he handing it back?

[@philiplindley7384]

It's incredible to me, as an old guy(70), that so many people have what I consider 'house' money to spend on a car. The most I've ever spent is 7K on an E class Merc, in 2002, 6 years old, gorgeous car, I loved it. And I saved the money first. Different world with all this borrowing just to satisfy your new car ego.

[@davidgray1037]

£120000 to run around for 3years joke

[@DashDriver-z1r]

Not that much if he has pcp he owes the Final agreed value is 50k, so its 70k

[@jerrysaunders4341]

Did you not read the PCP agreement when you got the car? If you look at your agreement you will see that there is a final value figure of what your car is going to be worth at the end of your agreement. This is a guaranteed value which the dealer should have explained to you when you purchased the car. Your repayments take this value into account so when it's time to hand the car back you should owe nothing unless you've gone over the agreed mileage or the car is damaged in anyway. It beggars belief that you paid 120 grand for a car on a PCP deal but don't understand how PCP contact's work. God help us 🙄

[@shandybills]

Well i bought a Tesla model Y £54000, 3 years old never had to take it to a service centre. It still lokks new inside and out. Its as fast as a Porsche has better milage better charging infrastructure, better computer, updates several time a month at home. has more room inside. has a frunk for storage, has entertainment like netflix, Plex etc. can play games whilst charging, can also use Zoom for meetings whilst charging. Mines still worth £30000. I agree if you hav'nt got a home charger then EV are not viable. as for your comment that Tesla are Garbage, they seem better in everyway apart from the Porsche looking much nicer but £120000, who's the Knob?????. and yes most PCP's you can can just hand back after your contact finishes and if on finance return car to finance company if you have repaid at least 50%, the finance company takes the hit on revalue sale. Tesla Yeah Porsche EV shite although they look great. Just my opinion of course.

[@LakeDistrictcyclist]

That’s correct PCP you pay the final purchase fee if want to keep or give back 😊 you only have to pay if you give back early and value of car is less than what you owe

[@davidcooper5442]

Have you had your Recall from Porsche for the Taycan battery. Seems that there are new user instructions on charging and use of car till the battery is replaced under warranty. MGUY Australia has just published a video on this subject

[@clivedeer6211]

Did you read your PCP document Lee? It tells you what the guaranteed future value (GFV) is, that is the same as the price you would pay if you wanted to keep the car. The only excess to that is the extra mileage, so obviously all you will pay is the excess mileage which means there is no equity in the car. Do keep up dear!

[@richardbartlett6932]

His accountant did. He knew exactly what he was getting into. Its not the first car he's PCP'd I can pretty much guarantee that

[@nigelturpin3533]

I don't think I actually live on the same planet as this bloke...so much money spent on moving around...demented...

[@Tailspin80]

@@nigelturpin3533 It’s a statement car. “I’ve got so much money I can afford to waste more than you”

[@mick_6006]

Mmm, this maybe opens up something else. 1) Park the car up once you've done the mileage limit for the whole period (keeping it charged of course) and get something else (maybe off Geoff) to tide you over until the finance is up...... or 2) If you can afford to do it, Speak to VW finance offering to pay them the monthly payments due now (maybe with a small discount for not having to wait), giving them the car back now 10 months younger than they will otherwise get and then you'd be all clear. If they are in any way commercial this would be a win for them not having to wait for payments and getting a newer car. You may well find this to be much better for you than the excess mileage fees which can be huge.

[@deansh8506]

I hate my electric car so much.... I might buy another one next year 😂😂😂

[@kcebliks]

Would you watch a video on how great my petrol car is, not much youtube earnings from that. Lots of ICE owners like watching videos that slag off EVs, not so much the other way round as we've all owned one or two at some point.

[@johntate5050]

For sale: Used Porche Tycan EV. Full service history, good condition, high mileage, owner pissed into a bottle on the back seat in Paris and spent 60% of his ownership eating pies and cakes in it. Any takers?

[@RicardoPetrazzi]

Rowan Atkinson agrees after 9 years of EV ownership.

[@scottiswatchingtele]

What Is the option to purchase fee? Lining at Porsche finance, It appears you only need to pay the excess mileage fee. Depending on how much that is, you should lighten up on the miles. No matter how much it costs, get a 911. Petrol version will not be around in the future. Solutions PCP: At the end of this finance agreement there are three options: i) pay the optional final payment and option to purchase fee and own the vehicle; ii) return the vehicle: subject to excess mileage and fair wear and tear, charges may apply; or iii) replace: part exchange the vehicle (subject to settlement of any outstanding fees)

[@actualfacts1055]

Get a beige Toyota Camry, nothing goes wrong with them.

[@laurence9618]

Mac - I traded my 19 reg F Place which i had since new Portfolio with a small fortune of extras, got £18,500 in px (had scratches etc... also) got from a main dealer a 23 reg I Pace (fully electric) with less than 6k on the clock paid £16,250 on top, basically it cost £75k new a bit over a year ago, I got it for £34,750 plus a few bits i put on top, it is way faster, more comfortable and cheaper to run (except for insurance) and add in quieter too! i do not car if this depreciates any further

[@nickw8988]

Good, honest & informative. Nice video work too. Thanks 👍

[@wokelefty]

Imaging buying a £100k electric car only to find out you don't like electric cars. 😂

[@mikeolly67]

That’s how all PCPs work , the final payment is call the GFV (guaranteed future value), under normal circumstances, this would be less than the car is actually worth, so if the customer decides to buy a new car, they have some equity left over to use towards the deposit on a new car. Porsche have come unstuck with the taycan because 3 years ago, they didn’t anticipate the depreciation would be so bad. The GFV on a new taycan now will be a lot lower to account for this and why the monthly payment will be a lot higher than the deal lee got in 2021, also interest rates have gone up a lot since then.

[@claymore1971]

I would rather pay extra for an ice car than own an electric car.

[@zaneta3880]

I rather pay less for a diesel car😂😂😂😂