Second hand prices.

[Stoopo]

I know they are dropping like a lead balloon but I just came across this on FB. Actually quite scary if you own an EV.

Nissan Leaf:

“Mine was listed £28000 new in June 2023, I bought it with 2975 miles on it in November 2023 for £17000, just had a quote from car buying site, they quoted £12000 to buy it off me, how's about that thats £16000 drop in 6months, by this time next year I will have to pay someone to take off my hands, biggest disappointment in a car in all my years of car purchasing, electric cars the future (my arse)”

Merry Christmas everyone.

[Mike]

I think the drop is probably due to two things,
1. the over inflated used car prices of recent now returning to more normal levels for trading in
2. the fact that used EV's scare people off especially with some of the bad press of late due to incidents and the huge cost of replacing a battery, unfortunately once an EV is out of warranty i think the prices will drop even more.

I think i would only ever lease a full EV if i was to change in the near future, hopefully by then sustainable fuels will be a more affordable solution.

Only my opinion

[DB74]

When I purchased my EV new the RRP was 36K and after a year and a half webuyanycar valued it at 12K. It does seem to be quite common with EV's as quite a few people are saying they are in negative equity and can't get rid of them.

[KevC]

That's a slightly skewed view of their price drop. The car buying site has to make a profit so they're going to low ball them anyway. They would promptly sell it for 17k and take a tidy profit out of it. They'd never make any money if they bought it for more.

But it's not unusual for EVs to drop £10k in 12-24 months. I've been tracking prices on a few prior to my Puma purchase and there are some huge bargains to be had.

If they want the prices to hold up better they need an advertising campaign to dispel a lot of the urban myths going around. Many EV owners are very happy with them and have no problems apart from little niggles as most ICE owners do on new cars too (the odd faulty sensor or a bit of trim coming off).

[4251]

The problem is two fold:

They are massively overpriced in the first place

They have a very small buying public, barely 15% of the market. The two added together means horrendous depreciation. If you want one you need a minimum of 25% off it new plus interest free.


But most cars drop like stones from new made worse by the massively over inflated new price.

[Rizmo]

The problem is two fold:

They are massively overpriced in the first place

They have a very small buying public, barely 15% of the market. The two added together means horrendous depreciation. If you want one you need a minimum of 25% off it new plus interest free.


But most cars drop like stones from new made worse by the massively over inflated new price.

For me, it's a few years too early for ev's. Maybe by the back end of this decade battery technology and other stuff will have moved on apace. Also other fuels will have changed too. I think it's best to be patient .

[DB74]

That's a slightly skewed view of their price drop. The car buying site has to make a profit so they're going to low ball them anyway. They would promptly sell it for 17k and take a tidy profit out of it. They'd never make any money if they bought it for more.

But it's not unusual for EVs to drop £10k in 12-24 months. I've been tracking prices on a few prior to my Puma purchase and there are some huge bargains to be had.

If they want the prices to hold up better they need an advertising campaign to dispel a lot of the urban myths going around. Many EV owners are very happy with them and have no problems apart from little niggles as most ICE owners do on new cars too (the odd faulty sensor or a bit of trim coming off).

Yep I agree, I only use webuyanycar as a very rough guide, although 17K would have been a bit high as I forgot to say that it sold at an independent garage for 13.5K.

[Stoopo]

I do think it’s mainly EV’s with this issue. Maybe people are just scared to take the plunge?

I saw a Leaf yesterday on a 72 plate with low mileage at £16k. It looks a bargain even without the bigger battery. Good spec too.

However, looking at Ford Direct. If I want a Puma like I got in May 21 I struggle to get anything near what I paid.

Mine was built Oct 20. It had 1400 miles on the clock. STLINE X with Winter Pack and Drivers Assistance. It was £26,500 new and I paid £19995.

Try get a 7 month old one now with that spec for less than £22,500. Ford Direct just don’t have them. You will pay more like £24k I think. On the road my car is £29k now.

[4251]

That's a slightly skewed view of their price drop. The car buying site has to make a profit so they're going to low ball them anyway. They would promptly sell it for 17k and take a tidy profit out of it. They'd never make any money if they bought it for more.

But it's not unusual for EVs to drop £10k in 12-24 months. I've been tracking prices on a few prior to my Puma purchase and there are some huge bargains to be had.

If they want the prices to hold up better they need an advertising campaign to dispel a lot of the urban myths going around. Many EV owners are very happy with them and have no problems apart from little niggles as most ICE owners do on new cars too (the odd faulty sensor or a bit of trim coming off).

Yep I agree, I only use webuyanycar as a very rough guide, although 17K would have been a bit high as I forgot to say that it sold at an independent garage for 13.5K.

WBAC are very volatile and try to dictate the trend using their popularity. They have in the past offered top prices, more than dealers or private, but they are currently low ,I believe pushing prices down. If their auction prices are struggling they immediately drop their WBAC offers.

The most stable offers are from Arnold Clarke, but they have also dropped dramatically in the last two months. Our 21 ST with PP and DP was just under £20k two months ago, now its £17.5k. The ST Puma doesn’t hold its value as well as the Focus ST by a margin. I recently sold my 280 ST estate for just under £22k it was 3 1/2 years old and I paid £30,500 for it new with most extras through carwow when they were really good

[4251]

Just seen a 23 plate ST200 with winter pack and B&O for £23990 at Marshals Cambridge , only about 6 months old