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Battery life / trade-in value

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  • 17-01-2022 10:38pm
    #1
    Registered Users Posts: 110 ✭✭


    Hi,


    Thinking of buying an EV in next 1-2 years.

    One concern I have is as follows:

    My last few car purchases were 3-4 years old and I kept them until they were 12-13 years old. Is it viable to follow same approach with an EV purchase or will I struggle to offload a 12 year old EV, particularly in relation to remaining battery condition.

    There used to be talk of battery leasing etc but I haven't heard of that in recent years. If I want to keep my 10 year old EV and want to restore/improve my battery capacity, is a new battery a viable option?



Comments

  • Registered Users Posts: 65,042 ✭✭✭✭unkel


    There will be battery degradation but with average mileage you still should have somewhere between 70-90% range after 12 years. The car when 12 years old will be worth far more than a similar new price 12 year old ICE as the batteries will outlast the car and when the car is eventually scrapped, the batteries will be re-used as stationary storage for another 15-20 years. Hope that answers your questions!



  • Registered Users Posts: 6,609 ✭✭✭zg3409


    Your battery will be fine after 12 years. Worst case the range may be down by 30% but it won't need to be replaced. If the range does not suit your needs then don't replace battery, instead sell it to someone who needs less range.


    In terms of depreciation actual resale value depends on a lot of factors. Supply and demand is the big one. EV depreciation tends to be less than equivalent or petrol or diesel. Prices are going up for used EVs at present. If you want low depreciation buy an EV with a decent size battery, that charges using CCS (not ChaDeMo) and that does not have a new model coming out soon. Don't buy new, a one, two or 3 year old should be cheaper, EVs don't age as quickly and tend to keep running when quite old.



  • Registered Users Posts: 3,027 ✭✭✭Lantus


    There are very robust battery technologies in now which have long life spans and high charge cycle rates. Even better ones are coming along. It's not a huge concern unless your typical journeys are tight with the realistic max range when new.


    Like you I am planning to switch around 2025 give or take a year and saving to that end. Ev choice should be improved but demand just as high so pricing will be less flexible. Ice sales will be entering a steady decline around then and 2nd hand values continually dropping until the ban (further slowing new sales as consumers hold off buying such a heavily depreciating assett.) so a good time to transition.



  • Registered Users Posts: 65,042 ✭✭✭✭unkel


    Just for all those on the fence: it is almost certain that the current €5,000 subsidy for new EVs will be gone soon. Well before 2025 anyway. It should have been gone already as it is no longer needed to provide people stimulus to buy. Nearly everybody is buying an EV next anyway

    Pure EVs already outsell diesels in the whole of Europe



  • Registered Users Posts: 18,465 ✭✭✭✭kippy


    Thanks for all the answers here so far!

    I think there are a large number of people on the fence alright Unkel.

    Currently have a 13 year old ICE and planning for the next purchase to be an EV however a brand new EV, with or without the grant will be well outside of the budget however a 5 or 6 year old one will most likely be within budget in 2/3 years time assuming I can get the ICE that far.

    It's an interesting topic no doubt as it will have an impact on many buyers. It's good to hear that the "degradation" on the battery isn't that bad at all.

    So long as the car can take 3 kids (youngest 7 at that stage) and a set of golf clubs it'll be next on the list.



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  • Registered Users Posts: 1,909 ✭✭✭kanuseeme




  • Registered Users Posts: 65,042 ✭✭✭✭unkel



    Financial Times



    https://www.ft.com/content/f1bdf1cf-8fc3-4b85-a4eb-7df716ebf0a9


    "More than a fifth of new cars sold across 18 European markets, including the UK, were powered exclusively by batteries, according to data compiled for the Financial Times by independent auto analyst Matthias Schmidt, while diesel cars, including diesel hybrids, accounted for less than 19 per cent of sales."

    Diesel is dead, thank fook. Hope there are not too many imbeciles out there who have bought brand new diesels in the last year or two, their cars' value will drop like a brick, nobody will want to touch those cancer machines.



  • Registered Users Posts: 73,405 ✭✭✭✭colm_mcm


    Wishful thinking ref used diesel prices Unkel. You know well used price is dictated by supply and demand.

    There’s no denying electric is the future though. It’s a pity the manufacturers are overpricing them and making a joke of the money governments are throwing at buyers.



  • Registered Users Posts: 3,562 ✭✭✭Buddy Bubs


    Diesels price will decline in line with other cars, approx 15 years to go from new price to scrap value. They won't be replaced. There's someone to buy at every age and price point along a cars life, 60k, 40k, 20k, 10k, 5k, 3k, 1k....



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