Which will be worth more in 3 years .. a 2022 Kia EV6 Earth or a 2024 Model 3 RWD highland

celtic_oz

Both worth about 42K at the moment.

Redfox25

Newer car, more warranty left etc etc.

celtic_oz

https://www.boards.ie/discussion/comment/121393245#Comment_121393245

Interesting.. typically the first 3 years have the highest depreciation.

So the Kia should depreciate slower..but battery warranty is changing this?

Redfox25

The Kia would be out of warranty then, the Tesla would have 1 year of general warranty left.

Both cars will have battery warranty (assuming average milage) but the Tesla will have more battery warranty left for the next owner to avail of.

Thats my logic.

:)

celtic_oz

https://www.boards.ie/discussion/comment/121393353#Comment_121393353

Surely this has always been true warrantys fading but traditionaly the first three years have the worst depreciation?

Buddy Bubs

https://www.boards.ie/discussion/comment/121393426#Comment_121393426

Yes, on any individual car the first 3 years are higher than any subsequent 3 years on that same car. In absolute terms, not necessarily percentage terms.

But when you are starting at same baseline of 42k for 2 different cars it doesn't necessarily hold true the car going from zero to three will depreciate more in absolute cash terms than the car going from two to five

circadian

https://www.boards.ie/discussion/comment/121393353#Comment_121393353

Kia have 7 years?

https://www.kia.com/ie/about-kia/experience-kia/7-year-warranty/warranty-terms-and-exclusions/

Edit: missed the years in the thread title.

Red Silurian

Assume both will be worthless in 5 years and buy the car you want

celtic_oz

https://www.boards.ie/discussion/comment/121394063#Comment_121394063

Not for me .. just a question that was posed in my company.

Depreciation is quite close in this case, but to disregard in all situations is not something everyone can do .. even when they want to.

ELM327

If you assume realistic (non linear) depreciation curves, you've probably got 50% in the first 3 years. Spread in percentage points probably of 20% in yr1 and 15% year2 and year3. Mathematically - for the same car - you'd have more depreciation in year 1-3 than in year 2-4 etc.

However the teslas have such a modified marketplace, as there have been so many recent price drops that despite the math, I would favor the 3 to have less overall (in terms of €) depreciation than the kia.

Red Silurian

https://www.boards.ie/discussion/comment/121394209#Comment_121394209

My point is there is no way of knowing, second hand EV prices sky rocketed during the record high fuel prices of last year. That situation could materialise again, likewise the opposite situation could happen and EVs could be worth nothing

kanuseeme

https://insideevs.com/news/694383/tesla-chinamade-ev-wholesale-sales-october2023/

If the refresh does not attract buyers the only other option is to drop the price, given that they have dropped twice already, I would wait before buying a Tesla, lots of present owners would upgrade but it means realising massive depreciation, so thats another cohort unlikely to purchase,

My own opinion is I prefer the kia, the interior is what I expect from a car, just a tad more than a display and a steering wheel, will it depreciate less, I have no idea.

celtic_oz

https://www.boards.ie/discussion/comment/121395750#Comment_121395750

They are both EV's so that shouldnt change anything relatively

No one is asking for black swan event predictions just peoples hunchs on the brand and models respective depreciation in that scenario all things being equal.

My hunch was that the Tesla would depreciate less. It shouldnt (imo) but it probably will due to the Kia brand being not as sought after by the average punter and the Model 3 having just been refreshed.

The 7/8 year battery warranty on EV's does probably mean a concerning cliff edge for used prices on older EV's though.

I know when I was considering a older Model S it played on my mind and in the end went for a new MYLR, something I would never have done for ICE (buy brand new).

Red Silurian

https://www.boards.ie/discussion/comment/121396964#Comment_121396964

My first time buying brand new was when second hand cars became too scarce, my first EV was second hand and I wouldn't hesitate to buy another second hand

Elon could halve the price of his cars tomorrow or Kia could find a major fault in their cars that would render them useless or both, then second hand prices would be gone

If it were me I'd buy the Tesla just because it won't need as much maintenance and won't need any regular servicing from Tesla

MightyMunster

Seeing as Model 3 has among the lowest depreciation of any EV in the UK it could be that one, Kia Soul is one of the worst but EV6 should fare better