EV vs Diesel - John O'Groats to Lands End - Part 4 - We need to talk about EV DEPRECIATION!
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- Опубликовано: 13 окт 2024
- Wow...
Welcome to an EPIC Top Gear style challenge between @GeoffBuysCars and @TheMacMaster...! What's CHEAPEST and FASTEST to drive between the most Northerly and Southerly tips of the United Kingdom?
We're driving a 2008 BMW 320D and a 2021 Porsche Taycan between John O'Groats and Lands End, over two days.
Part 1 - John O'Groats to Kendal
Part 2 - Kendal to Lands End
John O’Groats to Lands End, Diesel vs EV
2008 BMW 320D vs 2021 Porsche Tacan EV
Watch the full video series!
The Pre-Trip Chat
• EV vs Diesel - John O'...
Part 1 - John O’Groats to Kendal
• EV vs Diesel - John O'...
Part 2 - Kendal to Lands End
• EV vs Diesel - John O'...
Part 3 - The Numbers and Post Trip Chat
• EV vs Diesel - John O'...
Outtakes 1 - The B Roll
• EV vs Diesel - John O'...
Outtakes 2 - The Country is BROKEN
• EV vs Diesel - John O'...
Outtakes 3 - Pulled Over Already
• EV vs Diesel - John O'...
Outtakes 4 - The Problem with EV Repairs
• EV vs Diesel - John O'...
#Tesla #RoadTrip #EV #JohnOGroats #LandsEnd #TopGearChallenge #TopGear #GrandTour #GrandTourSpecial
So, in summary, buy a banger, look after it, and keep your money in your pocket.
It’s almost like that’s the slogan the entire channel was founded on 3 years ago 👍
@@GeoffBuysCars I agree, people should be look elsewhere for advice on buying modern cars (EVs or otherwise).
Agreed I have a Seat Leon ST ecomotive that can do over 70mpg. Cost zero on VED as it is so clean.
The moral buy a diesel around 8 years old for the best value
Who wants banger .......
@@AdrianMcDaidPeople who pay their mortgage and want to retire before 80 years old!!
We need a total cost breakdown of coffee, pot noodles, fish n chips, crips and other snacks bought while Lee was charging ⚠️😳😁
I think that's the thing that will really stack up. Stopping once, maybe even twice for a bet of petrol or diesel, a quick toilet break and maybe a coffee and a chocolate bar is one thing, but stopping for literal hours with nothing to do but wait while the car chargers is going to result in snacking, and motorway services are expensive. I wouldn't be surprised if Lee managed £50+ just in that.
It’s coming :)
@@GeoffBuysCars Brilliant! It is in the public interest of potential EV ownership.
I'll bet it will add substantially to the cost of charging!
I lost count of how many coffee breaks Lee had before he even got to J.O.G.😳😁
What about lost earnings per annum wasting time at home or at a charging station, waiting for charge?
'Nobody ain't got time for that!'
@@Matt123a To add some realism, I have an electric Transit van do 60-100 miles a day and charge at home for around 3p per mile. It takes me about 10 seconds to plug the van in when I park up. IIRC for most people the average daily commute is around 10 miles per day, so they could charge once a week when shopping.
The big problem - lack of charging info structure and slow chargers.
Is the 'huge' depreciation of ev's just specific makes and models or across the board? Could you find the same for ICE cars?
Best value car would probably be a 5-10 year old ford fiesta IF you could find one in mint condition with low miles. Low tax, low insurance and 50-70 mpg.. keep it going and drive it into the ground.
Geoff I think that insurers are spreading the hyper inflated costs of annual car insurance on petrol and diesel cars to dampen the impact on EV owners sky rocketing insurance prices, anyone else notice quotes this year are substantially up from last year?
Your dead right, mine just went up £200, Dennis
Sainsburys wanted to increase my premium by 90%, even after being with them for years.
My ICE insurance went up by £300 - ok we on multi car scenario from Admiral - more than the rate of inflation however 🤮
renewed everything in the Spring, the insurance was similar to last year.
My mothers insurance just more than doubled in price from £226 to £436?! I questioned it and they said it was to do with an increase in claims or 2.1 billion in the year ?! I think your right? we’re being screwed because of the fires and write off costs of EV’s I held off on buying EV four years ago and I’m so glad I did!
We all grew up knowing that electric fences were less trustworthy than basic analogue barbed wire.
I've just had the best 15 minutes of my week. I've got a sad life but you're hitting the mark. Facts. Shame those in our parliament haven't got an ounce of you. Keep it up.
We've all got sad lives bud, but upload's like this keep us laughing & staying strong!!
Cheer up matey, it could be worse, you could be married to my wife.🤷♂️🤷♂️🤷♂️
^9.6/10 comment @@criticalbiker1273
Lee could have probably got taxis and stayed in the best hotels for less than the depreciation.
😅😅😅😮
A chauffeur driven limo with a mini bar and dancing girls included would still have been cheaper. Eye watering devaluation - new cars always lose 20% the minute you drive them out of the showroom due to the VAT, but to lose £3k in a WEEK and be minus £37k in payments is insane. I buy old cars (got a mark 2 TT, 58 plate) put a private number on it to de-age it and it runs like a dream. So far had this one for 5 years - plenty of life left in her.
When will people realise "You will own nothing and be happy" is not a abstract comedic line? C'mon peeps, this is dead serious with the emphasis on dead... which is the state "They" ultimately want us to be in.❤
They can take everything I own but they can't force me to be happy.😢
@@MeYou-yz2yz
Oh yes they can... the "or else" and the end of their statement is implicate.
To wage war on "carbon" in a world were all life is carbon based, means YOU are the carbon they wish to reduce. They dont even hide that fact in Canada, as MAID becomes the third leading cause of death in that country, also surpassed by the "died suddenly" of heart failures that mysteriously appeared, for no particular reason, immediately after mandating an experimental gene therapy shot, funded by the guy who once said on camera, that 'there are far too many people on the planet'.
If we are dead we are unable to pay tax to support our replacements?
@@nigelnigel. yes but we can't demand pensions or benefits either.
@@nigelnigel. Your replacements? Do you mean the migrants? Because the best way, in the modern era, to get a Real War™ that doesnt just end in nukes, is to make that war "Civil".
They are not replacements. They are supplemental population control. Or did you not notice they are all military aged men?
I feel Lee's pain. He's been royally shafted by the green machine and the scumbag politicians.
The worst part of it is, that Lee’s car is only worth what somebody will pay for it.....and with the way that things are going, that won’t be very much.....if he can actually find a buyer at all?
How sad I’d that? All these folks who’ve bought into this EV thing and are now staring down the barrel?
They could simply sit it out and hope that the value stabilises, whilst knowing that their rechargeable batteries' range will be falling every minute that they wait
Their bathroom mirror will display the true measure of their regret, more and more every day
Is he staring down the barrel? If he's on a PCP it's the finance companies staring down the barrel. Lee just can't end the deal early as there is no equity. However when his agreement is up, he can just hand back the keys and not worry about the £30k hole between the GMV and what it is worth.
The question then becomes who will be able to afford buying one now with interest rates much higher and the knowledge that depreciation is far worse? Surely monthly payments will become unaffordable. If monthly payments on a new Taycan now are similar to what Lee is paying, then is this the next financial crash in the making? Who's taking the hit? I'm assuming private buyers of these on non-PCP are a very, very small minority.
@@Discovery_Dad Yes I agree, with the values of EVs being so poor and getting worse, the lease companies will have to increase the monthly payments for new deals.
I think the market is showing that EVs are not the future alone, but I do think they could have a part to play in the future, they would be good for city transport small cars/vans which need to be cheap to purchase and need to have a lower specification for these to be viable.
@@Discovery_Dad They should bring back Bullseye. But instead of the star prize being a speedboat, its an EV
The winners would have the same look on their face
@@TheVicarIt was always a speedboat when the contestants lost , great programme, shite prizes.
Lee has to trade the Taycan into Porsche against a Porsche in order to get burnt the least. At this rate the battery will be knackered before he’s actually paid off the finance.
I've got a low mileage Porsche Cayman & the dealer has no interest in it as they've got way to much stock,
The bubble is bursting in a big way
@@pauldavies7251beautiful car. 🧡
@@pauldavies7251 Yes..interest rates don’t just affect mortgage repayments…anyone looking at a new car will get a shock regarding a deal they got 3 years ago.
The real issue is lockdown & subsequent proxy war inflation and Govts associated quantitative easing / money printing. Hence ridiculous prices for new cars, electric and gas standing charges and car insurance going up 70%
Most people don't know that you can return the car when your half way through thr finance deal and walk away from the deal wether your in negative equity or not. He wouldn't need pay anything at all to do so and it wouldn't affect his credit rating. But his problems is what gets him views.
End of the EV guys. Insurance, don't wanna know. I bet very soon ferry companies won't even let the aboard!
I have a 1967 Ford F-100 I got for free. I put $2,000 into it to get it running, and looking good. I used it for about three years to make money. I could probably sell it for $5,000 today.
Plus it looks so much cooler than new trucks, as far as I'm concerned.
P.S. In the time it took to write this, the likes went up 100 more. Congratulations Geoff. Oops there's another fifty.
Now THAT is a cool ride 😎
👏👏👏
@@BionicRustySounds great but in Europe you would be paying $10,000 a year to put fuel in it.
Great but that only makes sense in the USA where fuel is cheap. Doesn't work in Europe.
Your story can only come out of Oklahoma or Texas or somewhere where gas is dirt cheap, no one in their right mind would pursue the same thing in Europe.
@@redademe $6 a gallon in Oregon. It is what it is, you just gas up and do what needs doing. Your rates go up to cover the cost. Do you just stop working because gas is expensive over there? You sure can't haul construction equipment and materials in a cab. And EV is out of the question around here. You'd never break even on the cost of the silly thing. Even a conventional truck, if you buy a newer one sets you back so far it isn't worth it.
anyone who buys an EV and expects to get a great car they need to see a psychiatrist and give their head a wobble ... diesel yes, petrol yes, hybrid yes ... all EV no never in a million years
Your definition of what is a great car is completely bias then. A great car to me is a mode of transport. Something which gets me from A to B in most relaxing and effecient way possible. That's why I run both an EV and an ICE car. Reason being at present both serve a purpose.. one for shorter journeys (avg 100 miles per day) and one for longer journeys. The one I use most is my EV. It does shorter journeys such as commute and daily trips to shops with ease and costs nothing to run. It even saves me money. Can't be said for a petrol or diesel. In my nine years of ownership, it has been 100% reliable and a pleasure to own / drive. That in itself is what makes me say it is a 'great' car. This is reflected by new sales of EVs which as at Sept 2023 only were second to petrol cars for new car sales in the UK. That speaks for itself.
@@Blackmamba12345 'This is reflected by new sales of EVs which as at Sept 2023'
15% of the 16% sold were to fleet and lease companies .. my EV got sent back and the most relaxing and effecient car i have is a tough choice of 660 miles on a diesel or 650 miles on a hybrid and i can use the heater and aircon with stress or anxiety
@@Blackmamba12345 You need two cars to do what my single Diesel will do! lol.
@@vandamonium1731I use my heater / air con in my EV and it has never caused any trouble. As say if I need to go on a long journey, I take my Golf, however as most of my journeys are under 100 miles per day I take my EV. And it’s never caused an issue. In terms of running costs and servicing costs, that’s another definite pro for me, and that is something else which makes a car great. For example in my nine years of ownership, the car still has full battery health, it has required v minimal servicing and it costs a fraction of my other car to run. It also in traffic enables me to conserve energy so my range increases. Can’t be said for my other car which is constantly burning fuel, esp in stop start traffic which is mainly what the roads are like these days.
@@musicbruvYes, your diesel car must cost you a lot. My EV serves a purpose for me which is relaxing driving on journeys under 100 miles (which most of my journeys are these days). On the rare occasion I need to go further then I take my ICE vehicle. However for you then if doing long journeys daily then a diesel is probs more efficient, but for me it isn’t. That is the point, in traffic and short journeys I can bet you that my EV is way cheaper to run than your diesel. I charge it overnight for around 48p. That will take me on average 100 miles. Now in your diesel, what is the price per litre on average? Say £1.60? So for the same distance in your diesel say at 40mpg, less in stop start traffic then you’d be looking at spending at least £14.40 for around 80 miles travelled (even more to go 100 miles), then factor in increased cost and frequency of servicing, increased tax, any ULEZ charges then you can see the advantages of running two cars for different purposes…
I would hazard a guess that TPB have badly mis-calculated how long it would take for the EV scam to unravel, that the intention was to have ICE production pretty much stopped (and most existing ones scrapped) before it happened, this in pursuit of abolishing private vehicle ownership (except perhaps for people who live in 'gated communities').
WEF skum gillbates and his hore wef club
I had an
#facts
Spot on
Have you been mis-sold an EV ???? 🤣🤣🤣
🤣
Showed you last video to my Tesla-owning colleague. He got quite angry with me. The Allegory of the Cave is alive and well inside the heads of many EV owners.
They just can't /won't admit ...
EVs might be great for 50-60miles/day with home charger and subsidied electricity.
A lot of huge egos bought into the ev scam. They ain't so smug now 😂😂😂😂
You have convinced me, I am going out now to buy a new EV, what a great deal they are.
I'm guessing that just like the insurance, everybody else will subsidise it.
if its written off the insurance company tell you sorry its was worthless 6 months after you baught it 😂
£3000 a week depreciation in 6 months is £104,284😮
Yes, like government “incentives” which is our bloody money to start with.
@@ifv2089 That's not the way depreciation works. The rate of depreciation is variable, and it's always greatest at the start. E.g. a car that's 50 weeks old, add another week, it falls almost nothing. But brand new to 1 week "used" it falls a much bigger amount in comparison.
@@user-nh3gu1ge3d I was thinking 😅 then not... thanks
@@user-nh3gu1ge3d Average over the life of the car so far is about £800 a week.
Owning a new EV is like driving down the motorway in an open top convertible with an open suitcase with £50 pound notes on the back seat flying out the back. As more EV's hit the market it is only going to get worse as nobody is wanting a second hand 💩 box.
Just a thought but an old ICE can be sent to your local scrapyard.Even the craziest scraper will think twice about taking your old EV.
Scrapping EVs is something most seem to be ignoring. We keep hearing about how you recycle them. Where do you take them to be recycled? Nowhere near me that is for sure.
How long will it be before we find EV batteries in hedges and lay-by’s?
@@nicolassales8679 saw on with the Tesla still attached on top, stopped after going through a not very deep puddle...
There are apparently lots of business set up to recycle ev batteries but they are all having the same problem. The problem is not many batteries are dying yet. The black mass they turn the batteries into is worth a lot per Kg
Definately not just Lee, A friend bought a Tesla in March 75k on the clock for £26k, we buy any car values the same car today at £15k so a 10 grand loss in 6 months. Love your videos, I've always ran old cars (Until their natural (rust?/age) demise. And loved each and every one. Better to get the use out of them than just keep replacing because of keeping up with the Jones's.
Not quite as simple as that. What was the, we buy any car, value at the time of purchase? In Geoffs case his car is valued at 900 but you can't actually buy one for less than about 5k from what he said. Comparing apples and oranges?
@@avid6186 Yep, dealers are putting big markups on. I have a diesel that would be on autotrader for £20k. Dacia offered a trade in of 13.5 through their website!
Depreciation has never been a laughing matter, but £3000 in a week (presumably for the additional mileage) is horrifying. I ran a pre-reg Fiat for three years in the mid-noughties and lost less than that. Got to feel for Lee, especially when he's sat literally watching his battery mileage disappear into smoke; there hasn't been a deal as bad since Lando handed Cloud City to the Empire.
You could always Buy an Internet house 🏠 The average price among the top 10 metaverse deals is $2.06 million, enough to buy a below-average real-world. home in places like Hollywood Hills,
Is the value based on the car or the battery also at a point would it be better for your car to go up in smoke.
Don't forget the cost for your charger they don't just plug into the wall.
@@turokforever007 I'm thinking the best time for it going up in smoke is before you bought it while it was still in the dealers. 😬
Here in Australia EVs that were 62 are now 58 after one year. And ev sales have tripled this year so far. We know they hold value. We know they don't catch fire. But keep trying. The UK may be great again one day.
I have a great idea for Geoff & Lee Merchandise Cups: You can't buy depression, but you can buy an EV.
Never a truer word said👍
Excellent idea..
I like that joke meme I saw on another social media, that 90% of EV's are still on the road.... 10% actually made it home. I told that joke to a greenie....she wasn't too appreciative, and had no sense of humour whatsoever. I told her there is still a few safe spaces around to hide.
You thought a "greenie" would have a sense of humour!
A recycled joke, it used to be Land Rovers and was told by Landcruiser owners.
I've heard it about Hardly Ableson motorcycles as well.
Low intelligence is characterised by no sense of humour.
Great joke and first class
Similar to taking the train in the UK, you can buy a car for the price of a rail ticket
That is absolutely insane, those numbers alone just don't bear thinking about. Losing more in depreciation the value of a decent Beemer and costs in one trip, in one week. Surely Lee must have some comeback, that's just criminal. The fact that Porsche are giving £5k cashback on new ones will hit him even harder again pushing the price of second hand ones down further. He is going to have to do 2 videos a day to keep up, Bless Him.
more like 5 videos a day 🤣
that porsche will have a used battery....avoid.
Good lord - these things are a short-cut to bankruptcy...
We need to start a crowd fund for Lee's depreciation.
Or maybe Geoff, you can design a mug with the Tincan on it and let the subs decide the logo, based on the trip. All profits donated to Lee's milk float fund.
A diesel evangelist 😅
All our insurances are going up by big numbers and you have to think whether our increases are in some ways subsidising EVs to an extent. The sooner EVs are banished the better
Vote for any party, Tory, Labour, LibDem, Plaid, SNP, Green, whatever and they will all stop you driving a car together with Net Zero, Climate lunacy, increased immigration, Ten Minute cities, Gender child abuse and wokery, and lots more of their wonderful ideas for you..
my thoughts last year when my insurance increased by 40% its all one big con trick by this corrupt unless excess of a government
How can the anti-EV crowd argue that everyone else is subsidising EV insurance and at the same time claim EV insurance premiums are way higher than other cars? Which one is it?
@@vasil7410because of aggregation.
Insurers could refuse to insure EVs, and the first one that does wipes the floor with the market.
You're making EVs the equivalent of German Jews in the 1930's
as in the insurance on my combustion car has gone up and I reckon it's those EVs that are doing it.
I’ve just had my 1997 Volvo V70 written off.
I bought it 15 years ago for £3800 and got £2500 payout from the other parties insurance. So my depreciation was £86 a year.
Sounds like a lot considering the car and age. It's value should be back on the way up, or at least level.
I may just offer Lee £50 (market value) for his Taycan at Christmas!😀
And if he says it is too low, perhaps offer to throw in a cod and chips. Take away obciously.
That would need further negotation, maybe chips and a tub of mushy peas? @@nigelbaldwin752
The insurance renewal quote on my diesel pickup truck was 50% more than last year! A bit of shopping about and i got it at about the same cost as last year. This is no doubt driven by the EV write offs costing them big time and they are spreading the cost across the whole motoring sector as the EV sector would be dead if they only increased their premiums. We are all going to feel the pain of the EV disaster!
“Remember to keep comments respectful and to follow our Community Guidelines” Okay, does that mean I can’t laugh my head off at the mathematical facts Geoff just shared, and pop the cork on a chilled bottle of Vintage Schadenfreude for everyone that fell for the EV con - whilst still liking Lee, yet not feeling the slightest bit sorry for him? Truly great comedy. Thank you for sharing.
Bottle of vintage Schadenfreude 😂😂😂. Hilarious!
@@rogerthedodger5788 Thank you. I bottle it myself. Please feel free to steal it. 👀🧐😎😜
Peace
Great video this is the future of EV’s? But GM,HONDA and many more have pulled the plug on EV,s due to no customers wanting them keep up the videos 👍
My old boss valued his VW Amarok on WeBuyAnyCar at just over 17k and a few weeks later the value was up to over 21k and he sold it to them immediately. Found it well strange.
I bought my 4Runner the last week 2020, it’s a 2021. A week later they offered me 5k more than I paid for it. I paid $43,000.
@@JAMESWUERTELEStrange that, this was over in the UK too..
People ending up with the kind of 'negative equity' on a car that many would see as disastrous on a house. Mental.
Negative equity is only a problem if you need to sell, otherwise you simply stay in the house, or the Porsche which as Lee has said on many occasions is a great drive, let down by the infrastructure. The infrastructure is improving at an accelerating rate of knots, as is shown by the Exeter service station with 58 chargers, Birmingham Exhibition Centre with 180 chargers and the recently announced deal between BP and Tesla for the supply of 100 million dollars worth of superchargers. As much as you people can’t stand the fact, EVs will be a big part of the future
Hertz have reneged on buying their target on EV'S due to heavy depreciation and repair costs.
I cant believe I actually got a advert after Lees video for the Taycan EV!!! Classic
WBAC's valuations are meaningless. They won't honour them if you turn up to their showrooms
Losing £30000 on a car is insane,might as well set fire to your money,and its only going to go down.
Values are going to crater, not before time.
There will be plenty of opportunities to acquire lovely cars for much less. I have my eyes on a 991S or a 4S. And a £30k Taycan with Porsche warranty (I won't pay for electricity). Porsche soon will offer double digit discounts on new stuff.
Lee's car at £40k would be a good deal!
I bought a Little Toyota Auris 1.4 Diesel during Lockdown for £3300 it's currently valued at £3700 😂😂😂. There currently going for between £4500 and £7500 😂😂😂.
And NO I'm not selling it.
Long live Little Diesels 😊👍👍👍
thing is ice vehicles will be taxed out of existence if a deadline is ever reached....and the roads will be littered with run out of charge and exploding vehicles....push bike sales will rocket.
Or horses
I'm hanging on as long as possible with my 2010 VW Golf 1.6 Turbo Diesel Match.
The irony here is that videos such as Geoff and Lee's roadtrip exposing to the car-buying public the real costs of using an EV are a highly influential factor in, ahem, "fuelling" the depreciation problem! ;-)
I'm in Dubai at the moment, no clean air zone here,petrol about 65 pence a ltr. So just think how much tax we pay in the UK for all this rubbish.
58p a litre in fuel duty and Vat on the whole amount.Double taxation on petrol/diesel.
We Buy any Car figures are all over the place - up and down. I tracked mine over a 2 month period whilst looking for another car and the WBAC figure varied wildly on an almost daily basis. Once they give a value and you don't book an appointment they also send increased offers. My first offer was £16k, lowest £15.5k and best £18.25k - all inside 2 months. Basically pot luck!
The Finance companies are going to take huge losses when people start handing their cars back after the lease or PCP.. Add to that the cost of insurance..
We buy any car! Or its real name! Carcraft of Rochdale! Who's owner had a big house overlooking Hollingworth Lake.
You also need to talk about EV insurance, and home insurance where you park your car, and repair costs for them!!
This is the best defence against all of the EVangalists who keep going on about how great their car is - right up until it hits them in the wallet...
Surely the ICE Porches don't depreciate at anythiing like that rate, in fact some increase in value!
16 months ago we were looking at buying an Electric car, until we decided against and considered a Hybrid…. I’m so glad now that we didn’t buy either and stuck with our economical 2Lt Diesel.
You'll find that the WBAC valuation is higher than what they will actually give you when they actually buy it from you. Their online quote is just to suck you in.
Damn, that's an advert for GAP insurance if I ever saw one.
Older cars are where it's at for me, I once bought a 3 year old car because I REALLY wanted that particular car, a 1.9tdi estate golf and that was the newest car I ever owned but I kept it for 13 years,
And yet in those years I did lots of miles and it cost me less than the depreciation of those first 3 years before I bought it.
My neice has a Nissan Leaf.
She bought it brand new about 5 years ago, and paid £33,000, with a £3,000 contribution from the taxpayer- as was available then. So she paid £30,000 net.
After 3 years and 25,000 miles, she looked at trading it in, and the best offer she got was £3,900.
One dealer offered her £1,800.
Your description of a family walk made me laugh out loud. Nice one old boy.
It's insane, the car isn't even fit for purpose.
Astonishing stuff - it just keeps getting worse for Lee's bank balance. ps. That 320D looks awfully nice.
So Lee's depreciation for a 40 hour week is £80 an hour. Then another £20 an hour for insurance. So £100 an hour just to own a self igniting deadly chemical time bomb.
You got a bargain with the Beemer Geoff, you'd certainly make a killing on it, especially now with its notoriety , just keep it as it is a great car and will start to appreciate!.I have a 22 year old ex-BT 55 diesel Escort van , owned 17 years and driven from new by a colleague and friend , bought for £3,500 .I have owned it longer than any other daily driver and has been totally reliable and frugal to run and hardly a week goes by without enquiries whether it is for sale !
My Vivaro E is painful and becoming a joke in the colder weather!
Geoff getting lost with the family are called memories for when the kids are older and they remind you the time you got them lost 😊😊
We had our main auction house here in Australia close this week after many years
So I think you’re on the money Jeff
I have an old 2000 Suzuki Baleno. Depreciation is 0 on a yearly basis because the value of the car is 0. I don't mind cause it drives just fine, and will probably last me another decade before it breaks down. Or maybe even longer, I will maintain it as long as there is spare or used parts to be found..
Once again every reason not to buy a battery car, the government try and tell you that it’s electric, it’s batteries charged by electricity, personally I’ll stick with my diesel until one of us expires and as it’s a Toyota diesel looks like I’m favourite for the first time in my life 😮, great post
Scary times for Lee, I really feel for him and anyone else who bought into the EV thing. Prices of them are tanking big time.
Looks like ICE cars, are holding there own, while evs are falling off a cliff
as far as $$$.
A great time to buy an EV then - 2023 Nissan Leaf can be had for £16,500 - bargain!
@@Garstonk if you want a car that will do 90 miles and be worth nothing in a year or two, yes!
@@trev8591 Any evidence to back up your assertion?
Jeff I was looking for a 997 /911 at the end of lockdown. They was going up weekly.
Looked at a couple but decided to hang on.
I looked again last week they have gone right down and when a car goes down in price people don’t like to pay a fortune on servicing and maintenance because you won’t get that money back. Can only buy now when they bottom out.
Lee is a megastar and has exposed and demonstrated *one of* the biggest consumer frauds in history.
I'm gobsmacked too, i knew EVs are not the miracle fix they purported to be, but this is insane.
The masses will realise soon enough that for city driving EV's might just about cut the mustard, for anything else they are a dead loss. A complete and utter dead loss.
I bought a dealer demo MX5 6 years ago , eventually got it down to £15800 , about £7500 under list , last month WBAC offered me £12250 , just over £3000 cost over 6 years , oh it’s petrol that’s why .
I bought a golf r 5years ago it's worth exactly what I paid for it & it's been amazing fun,
Screw the ev market
I’ve enjoyed two MX5’s a PRHT and an RF, just amazing fun, no car I’ve ever owned comes anywhere near the enjoyment they give. Sorry to go on 😅
That depreciation is staggering.
The value is going to be negative. Just think of how much you will have to pay a breaker to take it away, and dispose.
I bought a 1999 Opel Astra two years ago, paid 900 bucks for it. It is now worth slightly more ... must say that I did some repairs, myself, at maybe a hundred bucks worth of parts. I've put 33.000 klicks on it... and it doesn't burn and explode randomly.
Thank you Geoff! A nice update albeit, the depreciation is rather frightful. On a more positive note, how about a new coffee cup with you and Lee, you know, "two mugs" in the best sense possible I mean. Perhaps you can take the BMW to the show, since the car is now, internet famous! Lastly, hope you and Lee recover soon. Maybe get a Rover/MG diesel for the next leg of the challenge, if I am not mistaken, almost like your current engine. You can afterwards sell the car at mates rates to Lee, by then he wants to be back in petrolhead land, I reckon. Thank you kindly for all your entertaining and thought-proving videos, excellent ✌☺
EV's will be the 'Gerald Ratner' moment in the car industry
Question I have…. What about when the term is up on the Porsche, with the usual give the car back route, are Porsche then going to sell it on at eg 25k or is it suddenly going to gain a massive amount of value? 🤔
How much are they selling used ones for?
Very hard to shift I would guess, Dennis
They don't want them back , my PvP just finished & they informed me they're not taking any cars in at the minute as they've got way to much stock,
So I've ended up paying off my finance
@@pauldavies7251I thought the balloon payment at the end was optional?
Bought a 2018 Volvo S90 diesel. Pre-reg on delivery miles. £50k reduced to clear at £32k when I bought it. Thanks very much! Sold two and a half years later for £16,500. Retained value vs list of 33%.
I think the only way not to lose a lot of money on cars is buy them old and cheap. Like my 2009 Hyundai i30
Porsche and Esso have created a carbon capture hydrogen car. The EV is on its way out. But that was the plan all along probably.....
Agree on the Classic car thing, the government will pull the plug on that free tax loophole because they are losing so much money. Prices have become silly. It’s going to crash.
Hertz bought, or so they say, 100,000 teslas and are now admitting that it was not a good financial decision : repairs, deprecation etc
Thought they went bust during the scam. Obviously huge companies don't go under like the SME industry.
They did and Phoenix resurrected themselves and will probably do so again.@@jessicahitchens6926
More than that, EVs are dumb rental cars. You fly into an unfamiliar city and are given an unfamiliar car, often with a user interface unlike anything you've used before if you get one of those new all-screen EVs. You have to find the few working chargers, figure out how far away from them you can go per day, figure out an arcane charging payment system, and sit there and wait for it to charge. Gas stations are everywhere, fast, and just work.
Ran out of gas in a rental car in the middle of Kansas. Tow truck guy rolled up with a can of gas, off I went. Does he bring a generator for the EV😂
@@bwofficial1776In general I would agree with you but a Tesla owner who is already familiar, gets in the car, adds their driver profile, car sets itself up like the one they have back home and off they go. None of what you describe would be an issue.
So as ever, there's a case of "it depends".
It doesn't make ANY sense for someone in the scenario you described though, that would be utterly poor choice.
Great content Geoff & so true👍🏻
The market has to implode with interest rates this high, no one can afford new car prices anymore. Which is ideal for me because I'm on the look out for a nice older D5 AWD Volvo 🙌🏻
I bought one 6 yrs ago for £10k and it’s still worth £7k….don’t tell Lee 🥴
I feel for him, I really do. I’d have kicked myself black and blue at this point 🥴
Bought a Saab turbo three years ago £2650 off eBay, runs like a dream.. battery and a coil pack in 40months + annual service that’s all, probably worth £2k off an enthusiast or £1k off WBAC..so happy days😊
If the battery fails on Lees car then the car will only be worth around £20k scrap as a replacement battery fitted would likely cost £20k ouch
Who would be daft enough to give £20k for a scrap car?
I predict that an EV that costs whatever it did cost will not just be effectively valueless after less than 15 years. It will very likely cost a few thousand simply to have it legally scraped. This will mean that owners may end up needing to pay someone to take it off of their hands even when the car is reasonably sound and still has a 3-figure range. Those batteries are not only a fire hazard they are an environmental hazard, and to my knowledge, there is no way of cost-effectively recycling the metals. The only way that this can become cost-effective is if the price of the metals rises by a considerable amount therefore the depreciation will be even sharper as absolutely no one will be buying a new battery and likely not any EVs either. If this happens there will be no one to service, repair, insure, or make spare parts for them.
At this point, the only people interested in buying one will be a museum dedicated to what caused the end of civilization as we once knew it.
BTW that figure of £905 sounds ridiculously low to me as that looks like a winner to me. I would happily give you twice as much for it. I can only think that its low value is the result of it not being ULES compliant. If it is then that must be some kind of mistake. So if you want to get rid, sell it privately. As for the Tycan. I suggest Mr. Mac Master also goes private. He may wish to call up the Maudsley Hospital in Denmark Hill South London on 02033226600 and ask for George, he may know someone who will buy it.
WeBuyAnyCar is a scam. Just sold our 2016 Zoe for £6350, WBAC price.... £3k... shocking. What did we pay for the car? £9945. That was after the gov grant at the time which I think was £4500 at the time. But not bad after 7 years.
this was in 2016..now is completely different..
Agreed. The lowball is strong in that one.
True, but as a like-for-like comparison the prices are indicative of the Porsche's depreciation.
That’s actually very reasonable, did you sell privately or to a dealer?
@@GeoffBuysCars sold via Tyrrell Automotive so acted as an agent/broker for us after a recommendation from a friend. Even after their fee (£600) we were massively up on the WBAC quote and didn't have the hassle of dealing with calls. Buyer also got a 12m warranty on the car as well. I ideally wanted £6k after everything so only £200 less than I wanted. Should have sold it during the first lockdown when they were going for £8-9k so would have had almost no depreciation!
The only faff with selling it was the battery lease as Renault advise not to release the car until the lease has been transferred over. Frustrated us, the broker and the new buyer as it took a bit over a week to sort out. That might be worth a mention in a video when buying/selling old EV's with the lease to make people aware. Not like rocking up with cash and driving away same day.
You really can't use WBAC to justify depreciation as they are buying to sell on so need to make a profit.
For reference the car had 29k miles and last battery health was 96-97%. Was the non rapid version so all charging as at home on a 7kw charger. With a few occasions on a 22kw charger. So well looked after in that respect. Only sold as I work from home now so milage had dropped a lot. The car only did 2k miles since its last MOT and my ev has a better range.
Heavy depreciation = Common Sense prevails. Just say no kids, to wildly inflated prices.
I hope he's bought it on a pcp agreement and can just hand it back at the end of the term. Lee doesn't seem to know what sort of lease he took out.And I hope he has GAP insurance
The EV Bubble has now burst, they will fail for the same reason they failed in the 1900s - battery, range and the liquid fuelled alternative vehicles - add to this cost, insurance and charging problems - get out of there fast! Reason why there is 'oversupply' of new EV's people are dumping them like hot turds.
So confronted with a $25,000 repair bill in 8 years makes these cars disposable if you ask me!
I think your road trip was the last coffin nail in the ev car industry and that's why Lee's car has lost so much value in the last week .
Except that more n more EVs are being sold every day in UK. Be interesting to find the latest vehicle sales compared to petrol or diesel. Esp with Tesla reducing the price of their EVs.
@@Blackmamba12345 That isn't true at all. Private EV sales were down by 8% in August. They were down just under 15% in Sept. The only reason it looks like they are selling well is because of the fleet market. They buy them because the EV's for fleet are heavily subsidised. There were several articles written about falling private EV sales in several car magazines last month.
@@Tony-jm1ji According to the new vehicle sales as at end of September 2023, Electric Vehicles sales were up... so no don't massage the figures. Pure EVS accounted for 16.6% market share, petrol were at a constant level and diesel plummeted to 3.9%... so get your facts straight first. I know as I see more n more EVs on our roads every day. That's the way the world's going.
@@Blackmamba12345 As I said, fleet sales, not private sales. Fleet sell because they are subsidised, woukldn't you buy if it were subsidised, as we did when they were. Prviate buyers are not buying the cars, and that's the figure that actually matters if you want to judge how well EV's are selling.
Fleet sales went up 58% in August but down 8% in private sales and then down 15% in Sept likely because of moving the date of the ICE ban to 2035.
Including fleet sales for subsidised cars is massaging the figures.
I'm not hating on EV's, but to claim th public are lapping them up is a lie.
@@Tony-jm1ji You just can't admit that more people are buying EVs and it's got nothing to do with 2035 ban extension on new ICE car sales. The reason is due to cost of living crisis that less people can afford more expensive new EVs however as more manufacturers bring out cheaper EVS and start flooding the market, the price of used EVs will fall even further. VW are bringing out the new ID1 in 2025 which will be a sub £17k brand new EV. As soon as this occurs and more people can afford new EVs, the demand for petrol and diesel new car sales will plummet. Already happening with diesels and lesser extent petrol. Indeed myself and five people who all live near me are private EV buyers and none of them are 'fleet purchases'. It's just a way so manufacturers can try to rid of old tech ICE cars at inflated prices when in reality EVs are far superior in effeciency and technology. Sorry to say but sales of EVs are growing year on year. That's the way the world is going. Like it or not you're living in the past / not facing reality.
The Taycan is a pig. The discount needs to be £40,000 not £5,000. EV is dead!
My 120k 12-year old 5-series BMW diesel goes up in value every week 😂😂😂
I believe that by Lees own figures when he thought he’d grounded the battery £40,000 was indeed the price of a new battery for the Taycan
When I lived in London we used to go to Farnborough to get lost.
Lee I think needs to sell the car to Porsche to save cash.
I'm keeping my 2004 mercedes e320 straight 6, had it for 3 years now and paid £2000 with only 112200, one of the best cars I've ever owned, it didn't have a pop up cub holder so i bought one, bet the car is worth more now 😂😂😂
WBAC offered me £2k for my van online, I went an operative and they offered me £50, then £300. A rip off company. Got £1500 and still see on the road.
Everyone knows that every time you put the same car registration into We Buy Any Car, the system automatically gives a lower value. Their thinking is that you must be becoming more desperate to sell the vehicle every time you look on the site.
First time seeing Geoff removing his hat. Looked like Karl Pilkington 😂