PCP is up conundrum

Duffers1983

My PCP plan for my cupra formentor is up at the end of the year and the plan will be to roll into the next car.. here's my dilemma with the next plan being for 3 years do I go electric, hybrid or petrol. I'm currently petrol in the formentor burning 3 years time will I lose a lot on resale due to electric push on cars. Also if I go electric IE byd seal the resale value of electric cars at the moment is terrible will it improve . What are your taughts?? I can also charge in work if needed if I go electric or hybrid

mickdw

Are you doing OK on your petrol formentor trade in wise?

How would you do now if you were trading in an ev?

Things won't change in any meaningful way in the next 3 years so I'd stick with petrol or phev.

If anything, diesels will likely be sought after.

User1998

If you are buying an electric car just make sure to buy one that has already had a price reduction from the manufacturer. The only people who got burned on depreciation were those who bought when prices were high. But most manufacturers have heavily reduced their prices now.

I’d imagine the depreciation curve for EV / petrol is quite similar now.

Duffers1983

Trade in wise on formentor getting 13k after settlement

Luna84

https://www.boards.ie/discussion/2058345761/pcp-is-up-conundrum

What are your taughts??

Well it's over 25 years ago but I did get taught all the usual like maths, English, Irish, geography etc…

Buddy Bubs

https://www.boards.ie/discussion/comment/121995016#Comment_121995016

Why bother doing that?

SteelyDanJalapeno

Whats your annual mileage?

I've saved about 6k with charging the EV in work over the past 3 years

LIGHTNING

https://www.boards.ie/discussion/comment/121995016#Comment_121995016

Dont post in here again and for future reference if you are only posting to be a grammar nazi dont bother.

Duffers1983

Appreciated buddy

Just trying to make an informed decision and get some opinions on how people see the market changing over the next few years.

Duffers1983

Doing 80 km a day round trip now after starting a new job was previously doing 20 km

mickdw

https://www.boards.ie/discussion/comment/121994659#Comment_121994659

That's very good. I wouldn't be jumping towards an ev in fear of them taking over the world.in the next three years.

Buddy Bubs

https://www.boards.ie/discussion/comment/121995071#Comment_121995071

13k equity in formentor is that what you said?

Is that your own dealer?

Would form a great deposit on a cupra born now that price has dropped significantly.

Great point by poster below about only buying something that has dropped, that's the reason for recent high depreciation figures I'd be expecting a settling of the market now.

@User1998

skygazer1

https://www.boards.ie/discussion/comment/121994486#Comment_121994486

I am thinking the same, but, check the prices of the likes of Hyundai Ioniq models in rest of Europe, there are places where they slashed them 20,000 euros from what they are currently here.

So not the best advice if further drops happen, unless because of the monopoly they have here they keep the prices as high as they are.

kirving

It's a tough position to be in - but at least you have nice bit of equity.

Maybe I'm incorrect, along with being very cynical, but look at some of the PCP offerings now, they're advertising the "Final Payment" but when you hover over is still says GMFV. Obviously all of that is in the contract detail, and I haven't bought a car on PCP, but it doesn't inspire confidence in the market.

celtic_oz

you would save a good bit on fuel if you can charge at work for free and home charge ?

Its never been a better time to buy a second hand EV

https://www.donedeal.ie/cars-for-sale/peugeot-e208/35249857

prawnsambo

https://www.boards.ie/discussion/comment/121995463#Comment_121995463

The only valid comparison there is what was the reduction in Europe? And that in itself is complicated by the various incentives offered in different countries. In Italy for example, if you're below a certain income threshold, you can get a BEV grant of up to €13,750.