Used EV Bargains | HUGELY DEPRECIATING ELECTRIC CARS

✅ 𝗩𝗖𝗵𝗲𝗰𝗸 (𝗖𝗮𝗿 𝗛𝗶𝘀𝘁𝗼𝗿𝘆) : www.vcheck.uk/...
📱 𝗦𝗼𝗰𝗶𝗮𝗹 𝗠𝗲𝗱𝗶𝗮 : linktr.ee/dnag
Used EV Bargains | HUGE DEPRECIATION ELECTRIC CARS
In this one we're taking a look at some electric cars that have had huge depreciation; the good news is this makes for some great used EV bargains.
🚗🚗 𝙈𝙔 𝙇𝙄𝙉𝙆𝙎 🚗🚗
👨📱 𝗦𝗼𝗰𝗶𝗮𝗹 𝗠𝗲𝗱𝗶𝗮 : linktr.ee/dnag
☕☕ 𝗕𝘂𝘆 𝗠𝗲 𝗔 𝗖𝗼𝗳𝗳𝗲𝗲 : ko-fi.com/nota...
👕🥤 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗠𝗲𝗿𝗰𝗵 : definitelynota...
🌐💻 𝗪𝗲𝗯𝘀𝗶𝘁𝗲 : www.notaguru.c...
📚😊 𝘽𝙐𝙔 𝙈𝙔 𝘽𝙊𝙊𝙆 𝙃𝙀𝙍𝙀 : amzn.to/3HMF9eH
📱💻 𝘾𝙖𝙡𝙡 𝙈𝙚 : www.notaguru.c...
❤️ 𝘾𝙃𝘼𝙉𝙉𝙀𝙇 𝙎𝙋𝙊𝙉𝙎𝙊𝙍𝙎 ❤️
👍 𝗖𝗮𝗿𝟮𝗖𝗼𝘃𝗲𝗿 : car2cover.co.uk (USE CODE JIM10 for £10 OFF) 🔥 to book a call back go to calendly.com/c... 👍
🔥🔥 𝘼𝙁𝙁𝙄𝙇𝙄𝘼𝙏𝙀 𝙇𝙄𝙉𝙆𝙎 🔥🔥
✅ 𝗟𝗲𝗮𝘀𝗲𝗟𝗼𝗰𝗼 : leaselo.co/not...
✅ 𝗔𝗺𝗮𝘇𝗼𝗻 : amzn.to/3dLVstT
✅ 𝗩𝗖𝗵𝗲𝗰𝗸 (𝗖𝗮𝗿 𝗛𝗶𝘀𝘁𝗼𝗿𝘆) : www.vcheck.uk/...
Important : This channel tries to deliver honest advice for real people. Remember that I am not a financial advisor or car finance professional and am therefore not qualified to give any kind of financial advice, views shown here are purely my own but you must make your own financial decisions. Always seek professional advice before entering a finance arrangement of any kind and seriously consider your financial position and the long-term affordability of any deal that you may enter into
All music used in this video is written, recorded, and produced by me.
𝙋𝙡𝙚𝙖𝙨𝙚 𝙡𝙞𝙠𝙚 𝙖𝙣𝙙 𝙨𝙪𝙗𝙨𝙘𝙧𝙞𝙗𝙚! ;)

[@sailingoctopus1]

Three and a half years ago I bought a seven year old EV at an auction for £3,600, since then I've enjoyed the cheapest motoring ever. Apart from spending £75 to replace the 12V battery, when I picked it up, I have literally (and I mean literally) spent nothing on tax, servicing and maintenance since. On average it costs 2p a mile to run and in summer the range is 7% more than the WLTP range when the car was launched and only 22% lower in winter, despite being driven mostly on tiny roads in hilly terrain.

[@DefinitelyNotAGuru]

👍

[@johnconnor7131]

No one cares about your ev lies

[@sailingoctopus1]

@@codincoman9019 The main point is that the car has already paid for itself in three years. Secondly, there is no sign whatsoever of any battery degradation after ten years, so why should I expect any significant degradation in the next ten years, especially as the car would still serve its current purpose if the battery degraded to 40% of its original capacity, because our normal journey is 24 miles round trip and we always plug in on our return. Thirdly, if one of the 104 battery cells failed prematurely we could drop the pack, replace any faulty cells for $50 each and get it up and running again in an afternoon, without even getting our hands dirty. Several people have done it. It's even possible to replace all the cells with new higher capacity cells and double the range of ee wanted. A couple of companies offer this service. Fourthly, your idea of the cost of replacing batteries is way out of date and restricted to premium brands that charge premium prices for everything. Lithium batteries have plummeted in price recently and CATL, the largest battery manufacturer in the world, tell us that thanks to improvements in manufacturing techniques and battery chemistry their Shenxing Plus LFP battery will be half the price and twice the energy density of LFP batteries available now. They have just started volume production and expect to be on full-scale mass-production in Q3 this year.

[@lovelyjubbly87]

What EV was it you bought?

[@PAJOoc]

Lies.

[@papah5552]

👍. Good content, I'm really surprised at the depreciation on these cars. I'm glad I'm still driving an 'ice' car.

[@FreaksSpeaks]

Ice ice baby .😂

[@DefinitelyNotAGuru]

👍

[@dungbetel]

Hello Jim. Good down to earth content. Not in the market for an EV (yet), but good to keep up with developments on the s/h market. Thanks

[@DefinitelyNotAGuru]

Thanks

[@DavidWilliams-cs5uf]

Hi Jim, a first class summary. Indeed, some bargains for a buyer to explore and running costs certainly are very low - we use an overnight tariff which works works out at under 2 pence per mile (on a model 3 long range, purchased used one year ago).

[@DefinitelyNotAGuru]

👍👍👍

[@noelfearnside1704]

Hello. I'm a big fan. You mentioned in passing that you may have to pay slightly more for your insurance insurance for an electric car. Mine may well increase to four times from £650 ish to £2500 or so. The dearest from all the comparison sites was just under £9000. I could have put a bit to and bought one of your suggested cars for that. I read somewhere that Arab royal families have recently bought into insurance companies. Just a thought.

[@DefinitelyNotAGuru]

It’s silly season at the moment I think.

[@domorewithsage]

Yep and thats probably whats driving price of the cars down, not sure why the hike now though?

[@DefinitelyNotAGuru]

@@domorewithsageall car insurance has gone bananas; I did a video on it recently explaining some of the reasons.

[@garden-Railway]

Check out RSymond video on EV insurance

[@beastieboy3926]

That sort of insurance costs will just kill it for me,and probably for millions of others.

[@rusty1380]

Just to add, here in Australia, I live in the rural area's. This for me and many others, The drive from 1 town to the next may be around 200 to 300 kml away over terrain. Even from a commute from sale to Melbourne city is 2hr 30 min with no traffic on the high way. with traffic can be 4 hours 250km. As Australia is vast and the distance between towns is great, there is no infrastructure to support such vehicles. An upside would be for those who live in the city, Apart from that, EV's are not viable in Australia.

[@DefinitelyNotAGuru]

I can imagine

[@michaelatkinson7577]

Most people (72%) do live in cities though (with 28% living rurally or in remote areas). Maybe EVs just aren't (yet) designed appropriately for Rural dwellers? Still - 72% of the population is a a huge market for them. As for lack of infrastructure, the govt has the levers to encourage and support the delivery of an appropriate infrastructure.

[@BenNeill]

The vast majority don't have to drive more than 50 Kms a day. We have super concentrated populations in Australia. Driving between cities is something that happens once in a blue moon for most people. The infra isn't up to scratch yet but 90% of the population could use an electric car as a second city car at very least.

[@michaelatkinson7577]

Absolutely - imagine if all those who could happily use an EV adopted it - leaving those who can't to continue using whatever works best for them - (as usual - it isn't a binary thing - we need to reduce massively the use of fossil fuels for transportation - but there will be exceptions - and that is fine too) @@BenNeill

[@reiniernn9071]

@@michaelatkinson7577 A very sensible comment Thanks for that. I also agree for 1000% with this. (Also in big parts of Africa there is no normal usage for EV's)

[@andrewmatthews7478]

Just bought an ipace 69 plate 39k miles, 2 year Jaguar warranty, £28k. What a bargain. Going to cost 3.7p per mile on electric vs 26p mile for for petrol on our 22 Kia Sportage £4k difference to pay to change.. Get 230 mile range, 600 litre boot great car!!

[@DefinitelyNotAGuru]

👌

[@andrewmatthews7478]

Not really, battery warranty is 8 years 100k miles. I intend to sell it with 6 months warranty left on the battery and expect the car will be worth about £8-9k. So my depreciation will be £20k in 3 1/2 years. Over that time I estimate covering 50,000 miles, which based on the cost per mile above will save me £11,150 in fuel. The Kia is not going to have £11k less depreciation thats for sure. But the Jag will have slighter higher other running costs. Now, it’s important to note we are also talking about completely different cars when it comes to quality of car and driving experience. One a Kia, nothing fancy, 1.6 petrol 150bhp, manual, slow standard family SUV, the other a 400hp Very fast Luxury sports SUV, more toys, more comfort, more fun to drive. I expect the total cost of ownership over the 3 1/2 years to be about the same, but for a much nicer car. So I stick to my original statement, great car! and a used EV Bargain!

[@andycotton162]

Hi Jim, since buying my daughter a 2018 battery-owned Zoe with 12k on the clock, I've fallen in love with it! For around town and a bit further it is excellent and I'd never go back to an ICE car for this kind of use.

[@DefinitelyNotAGuru]

👍

[@SDK2006b]

You should do one of these videos for ICE cars too - looking in the Pistonheads forum -> car buying -> 'Secondhand car price crash' thread, there are many bargains to be had there too. e.g. A one year old BMW 850i Convertible on AT for £65k [list was £130k] Also, it'll help people realise that high deprecation isn't limited to just EV's ! 👍

[@DefinitelyNotAGuru]

I will

[@michaeledwards8079]

that is why I'm currently leasing my EV on a 2 year deal, costing me £6500 over 2 years and the car list value to the general public is £32000 so worth about £16 K at the end of lease so lease company must either have a huge discount or suffer a huge loss

[@DefinitelyNotAGuru]

👍👍👍

[@daveg1250]

I have paid £7,500 for a 3 year lease on my Ionic as opposed to the £16,000 I would have lost in value if I had bought it new

[@MrDuncl]

Is that on Salary Sacrifice ? They offer that at work and it could halve the lease cost for a higher rate tax payer. Even if you can't skip National Insurance the "Benefit in Kind" for a Mustang Mach-E is about £30 a month compared to £350 for an ICE Mustang.

[@andreww1928]

Hello Jim

[@yurikislytsia8596]

Except Tesla, most EVs were overpriced on MRSP hence artificial high depreciation. But even list prices dropped this year as clean vehicle mandate forces toyota to sell at least 25% zero emission cars for 2024.

[@Hali88]

'furiously snorting into their real ale' lol made me chuckle

[@DefinitelyNotAGuru]

All the views on this and you’re the first person to appreciate my rapier sharp whit. Thank you 🙏

[@paulsaunders1343]

Hello Jim. What an interesting video. I’m shocked at the depreciating value of these EVs. Thank you 👍

[@DefinitelyNotAGuru]

Very welcome

[@estern001]

Hello Jim! Great presentation and production. I appreciate the audio quality. Very informative. Even though I'm in America, and there's the Does Not Apply factor, the bulk of the information applies to the EV market everywhere. Thank you!

[@DefinitelyNotAGuru]

Wow, thanks!

[@MrDuncl]

A quirk of the U.K. tax system is that there are large incentives to lease a new EV but (to my knowledge) very few to buy a used one. The fact that the Polestar at the end was being sold by a leasing company reinforces that (plus I wonder what kind of deal they have with Polestar).

[@DefinitelyNotAGuru]

There are only tax incentives to company car drivers; used EV sales are doing incredibly well - there's just an over supply due to all the company car deals coming to end.

[@MrDuncl]

@@DefinitelyNotAGuru I will qualify that by saying EVs leased through payroll. Where I work they have a deal with Zenith - Intelligent Vehicle Solutions, open to all employees. They seem to be encouraging it to show the companies green credentials.

[@DefinitelyNotAGuru]

@@MrDuncl👍

[@kevinkelly2169]

Some great deals there. Agree on the P2, my 2024 arrived last week and I am amazed at how good it is, haven’t ben in my 4 series since I got it😂

[@DefinitelyNotAGuru]

Great car

[@martinsimson3535]

Great video. Thanks. I love my Nissan Leaf Techna but very tempted by the Polestar.

[@DefinitelyNotAGuru]

👍

[@cabbunk9906]

Agreed. My e+ Tekna Leaf is BRILLIANT. Great video. I would only look at Model 3 LR and Polestar.

[@simont4708]

would be interesting to know what ev's are like after 3 yrs regarding battery range depletion .

[@DefinitelyNotAGuru]

You can easily check with an OBD scanner. You almost always get 8 year battery warranty and then if it does have issues you don’t have to bin it.

[@AbuZak14]

Great video. What about high mileage 5 year old vehicles at 100k plus or 8-12 year vehicles.. my research points to ICE/hybrids being a better choice.

[@DefinitelyNotAGuru]

@@AbuZak14 battery degradation is usually nothing like what people think it will be. I think just buy what suits you best.

[@paulwilliams5013]

...and how much the first and subsequent MOT tests cost, if there are any of the usual suspension, brakes, steering components etc. to replace.

[@carlhusain1012]

Good vid. Nice to see a balanced and realistic assessment of these cars indicating that not all use cases are the same and not a "top trumps" type of list. Thanks Jim!

[@DefinitelyNotAGuru]

Glad you liked it!

[@daddydaycare2015]

Another great video btw, you are spot on as always!

[@davidrandall2742]

Hello from Canada. Good video. EVs are improving so quickly that when I bought my '23 Chevy Bolt euv nine months ago, I didn't expect it to hold much value. It does everything I need, and Bolts are standing up well, with many having more than 250,000 miles. It's rated for 250 miles, and I've seen 300 miles on a charge in the summer, but down to 150-200 miles in the winter (due to no heat pump); I knew that before I bought it, so I'm not surprised. What did surprise me is that insurance for my Bolt is less than it was for the same coverages on my '19 awd Prius. I think the pre-facelift Bolt was sold in Europe as the Vauxhall Ampera-e.

[@DefinitelyNotAGuru]

Hi, I’d love to visit Canada 🇨🇦 one day… yeah the old Bolt was the Ampera over here, a bit of an underdog hero over here. Not many in the road.

[@ashb8572]

Great content, I dont fancy any EV which is out of warranty with the exception to the Nissan Leaf. I'd love to get a used Tesla for the efficency and charging network, but only when their reliability is sorted, and they don't cost silly money to insure.

[@bernardcharlesworth9860]

We are starting to see data on Zoe battery pack repair.

[@cas2985]

The fires don’t worry you?????

[@FFVoyager]

@@cas2985fossil cars are more likely to catch fire. 🙄

[@DefinitelyNotAGuru]

👍

[@FFVoyager]

@@AlanCarter-pw4bm of course they can catch fire at night (and do). Not sure many vehicles of any type combust after 2 weeks though. Do you have an instance in mind?

[@presterjohn71]

Most cars depreciate like mad once they are out of the showroom door. Prices were odd for a bit due to COVID. Things have normalised. The good news is that the average man in the street can now afford to buy an EV.

[@DefinitelyNotAGuru]

Exactly

[@BigJonnyG]

Really good video, and amazing seeing the price on these. Would love to see a break down at what you can get in the 5-10k and 10-15k bracket.

[@DefinitelyNotAGuru]

👍

[@davidsworld5837]

Hello Jim... hehehe I would also take it that there has been some big losses in Petrol cars too. since I think there has been a slow down in people buying expensive cars.

[@DefinitelyNotAGuru]

👍

[@BenNeill]

From everything I've heard you are on the money. If it's over 5k, no one is interested. Grim months for used car sales apparently. And with the insurance hikes and ULEZ expansion, there's plenty of range rovers up for sale 😄

[@clewis5220]

Great review on the PS2 Jim. As a private buyer I hadn’t realised this 4WD used one sounds best way to avoid Front wheel drive issues that most used EV have. I know the main change in the new PS2 is the move to rear wheel drive, but I can’t afford/ wouldn’t pay a new one.

[@DefinitelyNotAGuru]

👍👍👍

[@simonclarke2939]

The Zoe with a 52KWh battery is excellent as a three year old car - commonly available at 12k or less. Their battery seems to endure much better than the Leaf and they are much cheaper to run (if charging at home) than petrol now they are battery owned.

[@DefinitelyNotAGuru]

👍

[@MrDuncl]

@collller More competition. We have only just had a BYD dealer open locally. I suspect their prices will be very close to those of MG.

[@stevet7882]

Hi Jim the polestar looks like a bargain, but I hear reports that insurance is becoming a problem with these electric cars!

[@DefinitelyNotAGuru]

It can be expensive but you just around for quotes before you buy

[@garypowell1540]

While none of this rapid depreciation is going to be improved by better batteries or any further improvements in the basic technology. Indeed this will only make the previous models depreciate even more quickly. If they do increase the range by a substantial amount, who is going to want what has instantly become obsolete? Not many and especially not the kind of people that bought an EV in the first place. These are the types of people who queue up to buy the newest mobile phone and are happy to pay top dollar for it. The good news is that even someone like me may buy a 5-year-old top-of-the-range EV for a couple of grand just for the wife to go shopping in, or even just for a laugh. For that price who cares if it only does 150 miles on a charge? If it did need a new battery costing $30,000 or even £5,000 it would be going straight to the crusher, as there is no way I am paying that on a car that cost me next to bugger all. This does not sound at all good for the environment, now does it? Are we sure that these people have really thought this through? Are they really this stupid or are they actually trying to destroy the environment rather than save it? Are our government actually a bunch of utterly corrupted and murderous criminals after all? Perhaps it is past time that we started asking these people some very serious questions?

[@SDK2006b]

Used batteries don’t go to the crusher !

[@Brian-om2hh]

Leasing insulates you from much of the effects of depreciation, which is why many who choose an EV, lease it.

[@arisavvides1970]

@@Brian-om2hh lease it and lose it ££££££

[@garypowell1540]

@@SDK2006b Fair comment. I would not be at all surprised that we will be charged a few grand to have them safely disposed of. The good news for cheap bastards like me is that I may be able to get a reasonably new EV for absolutely nothing at all soon enough. Indeed if I wait just a little bit longer a reasonably new one for less than nothing.

[@garypowell1540]

@@Brian-om2hh True to a large extent, but these are all going to end up on the used car market then these lease companies will either greatly increase their charges or stop leasing them entirely. There are no free rides or lunches in this world, or none for very long. Everything has a cost and everything has to be paid for with interest in the end. At this moment EVs are being subsidized by the taxpayer and the investment so far has been an utter disaster. All of this someone is going to pay for and ultimately it will be paid for by all of us by one means or another.

[@gib321]

As tech and mileage improve prices will continue to fall like a stone with these early EVs. They will make great city runabouts for those who take a punt.

[@DefinitelyNotAGuru]

👍

[@Daniellee70]

Hi Jim great video it's shocking to see how second hand evs lose their value in their 3 year period

[@DefinitelyNotAGuru]

👍

[@Pete-rf6zz]

My personal opinion is the consistent bombardment of bad press (alot of it not true from my experience of owning EVs) has had an effect but manufacturrs will be fined from next year for not making enough EVs and there will be more push for cleaner air in cities and near schools so they will go back up again. But I don't have a crystal ball ❤

[@Pete-rf6zz]

@@CosmicSeeker69 thats a real shame, it really feels like the technology is being shot down before it's even started in the UK, however it might just be a little bit of uncertainty and doubt about the technology causing it, hence why I feel it might get better at somepoint and reamin positive but do take on board your comments. Annoying that there is so much investment in the technology to make sure it's fit for purpose and that is being ignored by opinion rather than facts, like long warrenties on the batteries from most manufactures to try and give people peace of mind that they will be fine. The main aim of techology is to supply vehicles that don't polute in the areas where we live, and the big carbon foot print making the fuel for pertol and diesel cars that is simply burnt into the atmosphere, also EVs can be powered via numours sources to charge them. There is some inconvience on long journeys, and still isn't as conviernt as most would like but I think it will come, but takes time, and there is time for it to develop before people even have to worry about switching over to an EV. I remain positive about it all.

[@SW-by9ob]

Lots of talk about insurance issues. Just did a quote on the exact Polestar 2 shown in the video and came back at

[@DefinitelyNotAGuru]

Nice

[@josephberrie9550]

was that per month or per annum

[@SW-by9ob]

@@josephberrie9550 PA of course. The only EV I've found to be expensive on insurance is the Jaguar iPace at £1000+ but that's an issue with all JR products at the minute no matter what powers them.

[@expathaggis]

Great….but the issue is they will keep depreciating….for many reasons !!

[@DefinitelyNotAGuru]

so do most cars

[@matthewgodwin3050]

Was looking at a Renault Zoe recently, but was quoted just over £1400 to insure one. For context I pay £300 to insure a petrol Nissan Micra, with 25 years no claims and clean licence. That's crazy, so I'm sticking with internal combustion. It's probably the expensive insurance that's causing the rapid depreciation on a lot of these EVs. They're just not financially viable for a lot of people.

[@Hellomynameis93]

Insurance up 60% on all cars, petrol included

[@FFVoyager]

The insurance company must have a good reason not to want to insure you for anything more than a crappy old Nissan.

[@matthewgodwin3050]

@@FFVoyager Oh dear. Get out of bed the wrong side, did we.

[@stephengreen2626]

Just insured top of range Zoe. £300. LV. Other insurers up to £400. Suggest you go compare. Other comparison sites available.

[@simonclarke2939]

Shop around mate they are trying it on! I'm insuring my Zoe for £300, only a little more than last year.

[@autumnpenkridge3312]

Thanks again Jim. Surely the depreciation is screwing with lease payments

[@DefinitelyNotAGuru]

Not really at the moment, bizarrely

[@Joeb4iley]

That etrons insane value, thats one hell of a mum truck for the money. The charging is bonkers quick on it aswell, 150kw flat curve from 10% to 82%.

[@DefinitelyNotAGuru]

👌

[@Peoplestariff]

Nice one Jim will share this one with a tag! Hope you’ve noticed the lack of tagging lately! :) thumbs up & comment made - the one that stood out to me was the BMW IX3 that was a nice bargain for anyone in that market , the one that I’ve noticed in the Audi etron / Jaguar iPace luxury end is the Lexus ux 300e a few negatives like chademo & has a fiddly trackpad instead of touch screen but is a lovely drive & interior - agree corsa is going up a tad now people have noticed it’s a bargain - there are new ones ( old shape ) only £20k

[@DefinitelyNotAGuru]

I have mate 😂👍 thanks for watching as always 👍👍

[@arcmaps9819]

Fantastic content Jim, as a guy in the motor insurance industry really great to hear your views from this side :)

[@DefinitelyNotAGuru]

Thanks

[@tectoramia-sz1lu]

How much more value will they lose in another three years, and what are the average insurance costs ?

[@DefinitelyNotAGuru]

dunno

[@parvinkukar1259]

I was expecting the Porsche tycann as that dropped from £150k with all the options down to sub £50k in 3 years. But definitely the polestar 2 is best of the bunch you recommended

[@SDK2006b]

The cheapest Taycan on Autotrader is £52k, and this model cost £90k new (not £150k) The Taycan Turbo S, the £150k model you referenced, cheapest is £74k

[@DefinitelyNotAGuru]

Taycan is a fair bit less than that new

[@DefinitelyNotAGuru]

Talking about his losses probably

[@tonyc2837]

Are you referring to that other KZbinr the McMaster. He reckons is vehicle is now only worth £48000, down from £120000 he paid 2 years ago. He’s quoting WBAC valuations. I’ve looked on auto trader and the prices are certainly not that low.

[@SDK2006b]

@@tonyc2837- Exactly : WBAC quote low for high value cars because they don't want them.

[@timmorgan4050]

Great content Jim. I really like your thoughts on EV’s coming off lease and flooding the market. (I guess especially with Salary Sacrifice car deals ending coming through now?)

[@DefinitelyNotAGuru]

Yep, company cars, salary sacrifice, private leases etc. hundreds of thousands per year. Still some great lease deals on new EVs however which may be a safer bet for a while yet (as EV tech continues to develop the depreciation will still be a factor in the used stuff).

[@raymck2115]

Good man, nice review - I just gone to full EV and am enjoying the experience - lots of changing at home/work, miss the convenience of fuel but don't miss the costs

[@DefinitelyNotAGuru]

👍👍

[@DavidMartin-ym2te]

Since most of these would have been originally fleet cars or financed, the fleet owners/financiers must have been taking a massive caning just to take the first year or so's depreciation. How long can that go on?

[@SDK2006b]

Fleet companies don’t pay list price ! The majority will be subsidised by the car maker. I’ve been driving a Polestar 2 for three years which has cost me £15k, for a car which listed at £50k in November 2020. [Now selling for about £28k-£30k)

[@DefinitelyNotAGuru]

👌

[@MrDuncl]

@@SDK2006b Years ago we had a lease car for a year at work. Actually we had three as they kept making us change it for brand new ones. The lease company probably paid less than £40K for your car in the first place. Easy if you commit to shifting hundreds a year.

[@mikeowen1192]

I have to meet a Ev buyer who doesn't regret there purchase I honestly haven't met one and that's why they are in meltdown we don't have the infrastructure

[@DefinitelyNotAGuru]

hundreds in the comments mike

[@2skydream]

Been driving for over 40 years, I’ve had many different types of petrol/diesel cars + LPG. Bought a Tesla 3 years ago and I love it, will be keeping it for 10+ years. There’s really no point in trying to explain why on here because there is far too much ignorance when it comes to owning one but safe to say if I do buy another car it will be another BEV.

[@2skydream]

@Yorks2000 Do you have a home charger ?

[@2skydream]

@Yorks2000 I don’t understand the problem then, please elaborate

[@2skydream]

@Yorks2000 That’s interesting, most cars depreciate around 50% after 3 years/average mileage although I am aware of some EV’s being higher than this. As I’m keeping my Model 3 for as long as I can the depreciation isn’t an issue for me which at the moment is about average. The public charging also isn’t an issue, I’ve never had to wait for a Tesla charger and they are good value although 95% of my charging is also home. Reliability has been excellent so far, mine just sailed through its first MOT - all I’ve done is change the tyres and put window washer in it 🤷‍♂️ I agree though that the U.K. charging network is appalling, the question is ‘is it deliberate’ ?

[@conan8441]

Thanks Jim. Worth doing another one soon!

[@DefinitelyNotAGuru]

I did a

[@Initdoh]

Very informative without all the pointless fluff. Thanks Jim.

[@DefinitelyNotAGuru]

Thanks

[@mistercrow1983]

Great video - especially for those who think EV's are unaffordable. I got my used P2 last week, and I agree it's absolutely brilliant. I love how it looks relatively subtle, but can easily out pace pretty much any ICE on the road!

[@AntonyBall-hm4jo]

Most sensible people realise that secondhand EV's are now affordable but, being sensible they are not buying. I think your comment regarding the purchase of your P2 and "it can pretty much outpace any ICE on the road" - pretty much sums up your mentality - if you need help computing that statement, please refer to the first sentence - you are not in that category!

[@gmw3083]

How about insurance costs...

[@davidpotts8582]

@@AntonyBall-hm4jo thanks for your reply, which suitably covers all EVs & their owners 👍

[@Soulboy63]

Top motor, was the insurance high ?what range did you get ?

[@norwoodboy6048]

Outpace most ICE cars on the road so thats your reason to but an EV? Idiot.

[@jimmarshall807]

Good to know how much money these things drop. Certainly won't be buying a new one anytime soon!

[@DefinitelyNotAGuru]

👍

[@juttley72]

Hi, good video thanks. i am 6 weeks away from buying the nissan leaf that i have had for the last 3 years on lease. the quote i have had to buy is 13,750, which i think is great value. best of all, because i have had it since new, know that it has not been in any accidents, the battery is still showing as max capacity and i really like the car (that said it is as dynamic as a milk float) as it is just so cheap to run. over the last 3 years, i paid 159 per month for everything, servicing, tyres, insurance, recovery etc. In comparison to my landrover discovery which i filled up this morning for a whopping 140 quid, the same 400 mile range in my leaf would cost me 12 quid if i charge over night on 7.5p tariff, or less if i charge from my solar panels. The main reason i went for the leaf was the chademo connector as i would like to use the cars battery to power my house when my tesla powerwall is depleted. the technology is still not commercially available yet for me to do this, but i will keep the Nissan for this reason anyway for when it is available. second EV coming in 6 weeks as a lease car is tesla model 3. i intend to buy that as well when lease completed. In the meantime, i will sell the discovery and run 2 EVs and save hundreds every month.

[@DefinitelyNotAGuru]

👍

[@pmbpmb5416]

Looking at that polestar 2 a year on , only a cursory search, the devaluation seems to have slowed dramatically.

[@DefinitelyNotAGuru]

Yes it has, they still look like good value

[@VintageLynx]

Interesting vid. I do think 5k is the point at which MANY more people will find EV's genuinely appealing. But what state will the batteries be when they get that low?

[@FFVoyager]

Most will be fine.

[@Brian-om2hh]

You can have the battery checked with an OBD. This can provide a print-out of the battery's SOH (state of health) of the battery in percentage terms....

[@Pete-rf6zz]

Also battery packs are more likely to be serviceable as time goes on.

[@holdmyhand2009]

the insurance will cost you anything from 2k upwards

[@DefinitelyNotAGuru]

you can check them pretty easilly

[@diovmes]

I own a Kia Niro PHEV that averages about 50 to 70mpg daily. 550 miles out of a tank. Recently had a MG5 EV for two months. Not only was it annoying that I had to leave it charging overnight 25 minutes away from my flat but the cost at the end of the month was 20/30% higher than my PHEV! The infrastructure just isnt there and even if it was with these prices for public charging there is no point to owning an EV unless of course you can charge it at home, but even then with the current price of eletricity + cost to insure them I doubt it makes sense that way either.

[@DefinitelyNotAGuru]

👌

[@ruabonite]

interest video and predicament for dealers, sellers & buyers, thanks for sharing 👍have seen these Mokka's drop like a stone - i suppose it would be useful to look at the battery and motor warranties when buying new or used

[@DefinitelyNotAGuru]

👌

[@AnonymousAndy2]

EVs are great for city use or for short trips, but you really need off street parking so you can charge at home. The charging network in the UK is not great so any longer trips are stressful & unnecessarily long. I have several friends that are starting to regret having bought EVs. I will be sticking with my 2.0 hybrid Toyota Corolla estate as for me it just works, better than diesel economy without the yucky sooty emissions.

[@DefinitelyNotAGuru]

👍👍

[@TGCW1888]

A couple of vids ago I think you said that Oct was one of the worse months in record for used cars sales, especially EVs. In this vid you now says Oct was a good month for them 🤷‍♂️ Also, can you give any info on why the market cap dealerships use as a guide for valuing was reduced so much at the start of Nov?

[@DefinitelyNotAGuru]

Yep, things change. No idea how Cap comes up with their values.

[@sparkplug964]

There are some bargain Model 3 out there at the moment, I'm seeing the 4WD performance model with less then 30K on the clock going for £25K, crazy, I was looking at these last year and most of them where a strong £35K all day long.

[@DefinitelyNotAGuru]

just check that insurance before you bite the bullet

[@FFVoyager]

@@DefinitelyNotAGuru yes. People forget they are a seriously fast car that can cost a lot to repair. The cost of insuring Ferraris and Lamborghinis has never been a reason not to buy them has it?

[@MrDuncl]

Supply and demand. From the number of car transporters loaded with Teslas I see coming out of Southampton docks every morning I would say supply is large.

[@sparkplug964]

I looked into this and you right, it's about £600 more to insure then my Mk7 GTI@@edc1569

[@sparkplug964]

Why is that, do they get stolen allot?@@edc1569

[@JustaGuy_Gaming]

The big thing to be careful with is the Used market is not really good at judging used EV's yet. "miles driven" is a poor way to judge an EV. Your better at looking at battery charge history and what kind of range it still has. Which is hard to measure tbh. Given that the battery is usually some where between a quarter to a third of the price of the car, buying a used EV is almost always a bad idea. If they charged their EV poorly, ran it to zero charge repeatedly etc you might just get something comparable to an Gas car in where you had to rebuild the entire engine.

[@DefinitelyNotAGuru]

👍 you can get some decent info with an OBD report

[@coffeeman2079]

Great video. Polestar 2 for me. Lovely looking vehicle. I’m waiting a year or two as I think loads more bargains on the way as new EVs get cheaper with better batteries. I’ve just had a large solar array fitted with large storage battery. That and really cheap nighttime electricity men’s virtually free motoring. Caviate that with the cost of insurance on EVs. Insurers still collecting data.

[@DefinitelyNotAGuru]

👍👍

[@BigALBoomer]

How much was your solar install all in with the storage battery please I’m from north west UK with a south facing roof so I am curious with this an option for the future

[@SDK2006b]

The Polestar 2 you referenced is the same as mine, which I’m handing back in a couple of weeks, except mine has half that mileage (32k). Probably worth about £30k now, from £50k new (Nov 2020).

[@DavidMartin-ym2te]

£30k? No chance. Autotrader has them at £22k

[@SDK2006b]

@@DavidMartin-ym2te - I just looked; A 2020 car with 80k miles is £22k, mine has 30k miles, which are about £28k-£32k. In fact there is just one car at £22k with 80k miles, then three at £26k, and more above that. Also, the 2020 base spec cars only cost £46k, because the Government grant was £3k, reducing the list price. Mine has the option 20” wheels which were £1k, so £47k new. The 36 month SS has cost me just £15k so worked out cheaper for me overall 😊

[@FreaksSpeaks]

Like the car?

[@SDK2006b]

@@FreaksSpeaks - I have loved it, it’s just not big enough for me. I carry 2 e-MTB’s and 4 people often, so need more interior space.

[@FreaksSpeaks]

@@SDK2006b ta

[@andyrobertshaw9120]

Great video. I think I’ve mentioned before that £18k will buy a nearly new Nissan Leaf, or a 1-year-old MG5. The MG5 will always have its place as the affordable electric estate car. While the Nissan Leaf is very old electric technology, it’s still a great car for the right person.

[@Brian-om2hh]

Some independent EV specialists offer all sorts of mods and fixes for the Leaf. It is, as you state, a good car for the right user.....

[@DefinitelyNotAGuru]

👍

[@shaunwalsh6354]

Hi Jim, keep up the good work, another great video. I have to ask, if you love the Polestar so much, why did you decide to go for the Tesla?

[@DefinitelyNotAGuru]

I needed a load more boot space, no other reason

[@grahamgilbert9331]

Great video Jim lots of EV bargains out there but still not convinced there are enough Charging points out there. I guess I’ll make a decision in the Spring after I’ve sold my E-Class cab

[@DefinitelyNotAGuru]

You’d definitely want a home charger mate, public charging is getting easier by the month in most parts of the country but EVs are not for everyone.

[@richardkingadi5511]

So, has the worst of it's depreciation already bhappened? or will they continue to plummet further?

[@richardkingadi5511]

​@@sempereadem54eadem64Praps it's just as well that I am unlikely to ever be able to afford one😊

[@simonclarke2939]

All cars depreciate most in the first three years and if they have lost more than half their value the rate can only slow. It is a valid question to ask why does anyone buy a new car?

[@DefinitelyNotAGuru]

who knows

[@chrishar110]

@@simonclarke2939Because they lease it.

[@MrDuncl]

@@simonclarke2939 The fun of waiting months while they build the car to your specification, having the latest registration to outdo the Jones's, and low monthly finance. I came close to buying a new Kona but changed my mind when the dealer said that the price shown on Autotrader was only if took out a finance deal. p.s. Years ago a colleague's wife bought herself a new Yugo on finance at £99 a month after he kept telling her there was no way they could afford a second car 🙂

[@stewartfeatherstone346]

I am in the market for an EV and this has given me food for thought, thank you.

[@davidsworld5837]

it does make no difference what the price is once you have it. it only matter if you are selling. when you use the car you will find it far better to drive, less stressful. take no notice of the rubbish about ev's All car prices are falling and there is less sales in petrol and diesel due to loan rates etc. The better thing to do is buy a second hand one. far better value.

[@FFVoyager]

Terrific choice out there at the moment.

[@DefinitelyNotAGuru]

👍

[@Pyramid333]

Great content. These EV cars go out of the showroom and are immediately 50% down in price. What will happen when all the Chinese EVs enter the market? They have many great high quality EVs.

[@DefinitelyNotAGuru]

Makes them an option for more people at last

[@mushinoshin]

Great video. Keep it up. That Polestar deal is great. Does that model comes with a heat pump? Thanks

[@DefinitelyNotAGuru]

Think so

[@davidpayne3938]

Great information Jim, it sounds a great time to buy an a two to three years old electric vehicle, since watching your video cast I've been looking at the Corsa EV and I can't believe the second hand value at around £13,000 for a low millage almost three years old car with low mileage, a bargain if you fancy going electric for a less than half price from buying a new vehicle. ..👍

[@DefinitelyNotAGuru]

Yes

[@markrozee]

Just bought a second hand one. Fantastic bargain. And it's costing me 2p a mile to run it. I will save £2000 a year, just on fuel.😊

[@DefinitelyNotAGuru]

Nice one!

[@CumuloNimbus-UK]

The depreciation means that the original buyer had been paying >£1000pm to drive these cars (if they bought not lease)

[@DefinitelyNotAGuru]

Yes. Lease new, buy used. Especially when it comes to EVs.

[@chrismayor5147]

Just a little perspective. In 2021 I bought a second hand Volvo S90 R Design desiel for £20,000. 22 months old, 10,850 miles. Nearly half price. Nearly worth that today. I think what I am saying is not just EVs lose 40-50% value

[@DefinitelyNotAGuru]

👍

[@skyliner6785]

Buy one ?😂 i wonder why they are so cheap mmmmm next year it will be 5 grand its cheap because no one wants them.its just ok for granny going to the shops

[@Brian-om2hh]

I can't say I've ever taken my granny to the shops in mine. I have done the North West 500 in it though...I charged up using the Gridserve charger at John O Groats, which then got me to Ullapool, no problem. Quite a few shops there mind....

[@skyliner6785]

@Brian-om2hh yep and sat at John o groats bored waiting for the car to charge,you will probably wait a couple of months in 2 years for it to charge if you go long distance but me about 2 hours I don't have a problem with evs but the techs not there yet and just heard a fire chief say an ev fire which doesn't happen that often but the fumes make cyanide look like sherbet.i can't take them seriously yet and nor do others hence the 10 grand clio

[@DefinitelyNotAGuru]

my granny is dead

[@barriewilliams4526]

Anyone buying a battery powered car in the current climate needs their bumps feeling🙃

[@bernardcharlesworth9860]

Explain

[@John-dh1gh]

Is this a take on the northern expression "you need your head felt". My grandfather from WAY back used that expression, from the times when skull morphology was a thing.

[@bernardcharlesworth9860]

@@John-dh1gh where are your facts

[@agiugabenson7268]

Your English teacher at school would mark your comments as please give reasons for your statement

[@bernardcharlesworth9860]

@@agiugabenson7268 here's some facts ice maximum efficiency 32% electric three phase traction motor 98%.

[@kingsknightuk]

just a heads up about the EV insurance. I'm being forced to sell my Tesla Model X because the insurance went from £640 to £3200. I have tried EVERYTHING to get it down and the is the lowest i can get! I'm 41, 22 years ncb clean licence. it is pure madness!

[@DefinitelyNotAGuru]

Ouch

[@kingsknightuk]

very much so! im a small business owner and im being priced out of EVs@@DefinitelyNotAGuru

[@peterbunker7165]

Jolly interesting, thank you. I'm driving a 2016 28 kwh Ioniq which I bought for £9800. Might have overpaid by a few hundred, but I'm very pleased with it.

[@DefinitelyNotAGuru]

👍👍

[@bernardcharlesworth9860]

Second hand EVs if they have had their updates are a bargain seeing a Zoe after three years still at no noticeable degradation of battery could see these doing 3M service life .

[@DefinitelyNotAGuru]

👍🐷

[@danielsnook5029]

As I'm currently dating a stripper I'm going to have a go at the Polestar.😂

[@DefinitelyNotAGuru]

😀😂

[@kenwarburton2578]

Hello Jim, keep the interesting videos coming!

[@DefinitelyNotAGuru]

Cheers Ken

[@johnkay1821]

Please would like to see more of theses Second Hand Markets with EV’s

[@DefinitelyNotAGuru]

👍

[@kennyfordham6208]

Ever wonder WHY these cars are losing value, so much? 🤔 (😏)

[@Brian-om2hh]

It doesn't much matter if you lease one.

[@DefinitelyNotAGuru]

no, because I understand the market.

[@MietoK]

They lose value because they suck. Quite simple

[@jamie1992ful]

Not at all, every new car is exactly the same

[@g0fvt]

A few months ago I looked seriously at getting a used EV, a major downside was one that was marginal range to start with and battery down to about 80% capacity. Love my AWD turbo-diesel, probably cheaper to run too.

[@FFVoyager]

How far do you drive each day?

[@g0fvt]

@@FFVoyager it varies a lot, I don't do the huge mileage I used to do everyday. The "tired" car was borderline useless though and was only going to get worse. Sometimes the car will sit for a few days unused, a big change from my old lifestyle. However I still would prefer a car that can take us on holiday perhaps 400 miles in a single leg. I realise people can conjour up all sorts of use cases and cite example journeys they have previously done. I have done 1400 miles in a Vauxhall Astra in a little over 24 hours, but I cannot claim that is typical.

[@FFVoyager]

@@g0fvt I did 430 miles recently - Somerset/Devon border to Lincoln and back in a day - it's not a non-stop drive if you want to be comfortable. You stop - for a piss, a coffee or a meal. (I did 700 miles, same start to near Hadrian's Wall and back in a day in a diesel a few years ago and it nearly did me in!)

[@DefinitelyNotAGuru]

good for you

[@g0fvt]

I used to frequently do London to Aberdeenshire non-stop, but that was not recreational travel. Nowadays I will stop every few hours. A lot of the critics of EVs will of course cite the range but we should not be doing hundreds of miles without a stop anyway. The EV I grumbled about earlier was short range as built and had lost some of that range. Everyone's usage case is different but that car could not have taken my wife and I to a favourite garden centre and back for coffee and cake. Buying a short range car like that I felt would be painting myself into a shrinking corner, I am at the age where blowing every penny I had on a newer long range EV would have been a bad move. For most of the year a car with about 150 miles of range would be quite adequate for me, for longer trips a recharge part way would be a sensible option.

[@kevinharley8920]

Useful video thanks

[@DefinitelyNotAGuru]

Happy to help

[@paulcostache6733]

Brilliant summary, thanks. And absolute bargains all around.

[@DefinitelyNotAGuru]

Glad you enjoyed it

[@robertlloyd7493]

Still not tempted thanks.

[@DefinitelyNotAGuru]

👍

[@Ronick-Q-46]

I don't think any EV is a bargain or worth buying at any price.

[@DefinitelyNotAGuru]

thanks for watching a video about them though, it really helps it get promoted to others 😉

[@stephengreen2626]

Glad that you think that Ronick. It helps to sustain these low prices for the rest of us.

[@rob5944]

Of course not, in a market economy price is a key indicator of supply and demand. My daughter sent me a link to an ad from a Jaguar franchised dealer offering 25k off from new! Everyone who wanted to show off their 'green credentials' has already bought one and now the whole ethos is floundering. No surprise there then. Who wants the automotive equivalent of a Beatamax video recorder.

[@rob5944]

​@@stephengreen2626yeah, they're queuing up to buy them...just need a few hundred thousand chargers installed. 😏

[@mikeypc3592]

​@@rob5944why exactly do you care? No-one's forcing you to buy one. How does it effect your life if other people buy them?

[@mgg4879]

Hi Jim good content, I suppose the elephant in the room is do you think the value trajectory on these cars will keep dropping sharply and considering the comments about Tesla’s after 8 years will they all not end up as expensive driveway furniture in another 2-4 years?

[@DefinitelyNotAGuru]

Maybe Mike, if you’re going to run the car into the ground it doesn’t really matter; battery cell replacement is improving all the time too so repairs to batteries will become far more commonplace. There are still plenty of old Model S cars on the road.

[@equinox95]

The car's were overpriced from the start, what we see now is actual price.

[@DefinitelyNotAGuru]

👌

[@claudius8002]

Talking about the quality of AutoTrader's checks. When posting and ad on AutoTrader DO NOT mention in your description anything about category S because their algorithm will take that as an admission of selling a salvaged vehicle and flag it. It happened to me and had to sort it out with them.

[@DefinitelyNotAGuru]

Oh no!

[@GoGreensey]

Unbelievable depreciation on those EVs. Excellent video, too 👍

[@DefinitelyNotAGuru]

Many thanks!

[@murdockscott]

Six years ago I purchased a used 2014 Fiat 500e (very inexpensive at the time) and I can confirm that it is an amazing second car. I love driving that little thing and it has been extremely reliable. Get one if you find a good deal!

[@DefinitelyNotAGuru]

They’re awesome, such a laugh to drive

[@hishamg]

Great video, I’m considering a used EV in a year or two, ideally a Tesla Model Y, Hyundai Ioniq 5, Kia EV6 or Kia Niro EV, they’re still a bit pricey though (I want a family size hatchback with decent range, i.e. 270 miles+). I never considered a Polestar 2, I thought they were way out of my league, maybe not. 😃

[@DefinitelyNotAGuru]

Go for it!

[@roryd5539]

I don't think I'll ever go fully electric I drive a mild hybrid. I get stressed when my phone goes below 50 percent! 😂

[@DefinitelyNotAGuru]

😂👍

[@brucekennedy5274]

Totally agree on the PS2 - such a lovely car always wanted one. Even tho the update is improved, I like the original version with the front grille. You got me searchin’…

[@DefinitelyNotAGuru]

Same here!

[@chriswalker5157]

just paid £13.3k for a may 22 zoe gt line + with 3000 miles absolutely brilliant. But more like 200 mile range.

[@DefinitelyNotAGuru]

👍

[@flyguy1359]

I did a V check on a Nissan note I was looking at buying, turned it was cat N twice! So glad I spent that tenner!

[@DefinitelyNotAGuru]

i bet!

[@JonnyWinterbottom]

Got to agree with your comments on the Polestar 2. Looks like one of the most practical 2nd hand EVs out there. As a taxi driver I always worry about after sales service though. Anyone had any experience of warranty repairs etc?

[@DefinitelyNotAGuru]

👍

[@ramk2443]

It's a great personal car but I wouldn't use it for work outside of warranty

[@xx9587]

I’m coming round to the idea of an ev for next car. My issue at the moment and this could be because of my age, is that I prefer to visit a dealer/ dealers to look at the cars on sale and I can’t get used to the idea of online purchase and the dealer being miles away and very few and far between. This really limits the more recent entries into the market like Polestar,which i agree looks great,Tesla and the likes of BYD etc.

[@DefinitelyNotAGuru]

👍👍

[@MrDuncl]

The strange thing is that the Volvo dealer in Southampton always has loads of Polestars around but I'm not sure if you can test drive them. As of last month you can definitely test drive a BYD next door at the same dealers (Snows).

[@petershorney7504]

Good video Jim. Have decided to get rid of my Audi PHEV and now seriously looking for a second hand EV. The beemer does look good. Also looking at the Megane e tech. Keep 'em coming.

[@DefinitelyNotAGuru]

👍

[@MrDuncl]

You might get a bargain. From looking around PHEVs seem to be holding their value far better than EVs,

[@stephen2203]

Renault Zoe, you have to watch whether or not the battery is leased or owned by the vehicle owner.

[@DefinitelyNotAGuru]

Yes!

[@sib4897]

The Zoe ZE50 has never had battery lease; that was the ZE40 & ZE22. The main thing to watch out for on the ZE50 is that is has rapid charge capability. Some early ones came with it as an option and not everyone took the option up. You'll be seriously disadvantaged when charging if you buy one without that option.

[@timoliver8940]

It will be interesting to see what effect the EU imposed import tariffs will have on non-EU manufactured components next year. It should help the prices of used EVs recover some of what have lost this year

[@DefinitelyNotAGuru]

it will be interesting

[@Rob-ml3sp]

Great video especially as I'm searching for a used EV with a long range could definitely be the polstar 2

[@DefinitelyNotAGuru]

They’re awesome cars, check out the review I did in one, I didn’t cry during it but I was close 😂

[@JohnLovesSpain]

Hello Jim, great video showing some real cost effective cheap to run cars 👍

[@DefinitelyNotAGuru]

Thanks 👍

[@mike9132]

Dont feel bad we Americans lost our shirt on the Chrysler Fiat 500 as well

[@DefinitelyNotAGuru]

👌