If you have a new account but are having problems posting or verifying your account, please email us on [email protected] for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact [email protected]
Please note that it is not permitted to have referral links posted in your signature. Keep these links contained in the appropriate forum. Thank you.

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

  • 20-11-2023 6:41pm
    Registered Users Posts: 1,535 ✭✭✭

    Both worth about 42K at the moment.


  • Registered Users Posts: 1,482 ✭✭✭Redfox25

    Newer car, more warranty left etc etc.

  • Registered Users Posts: 1,535 ✭✭✭celtic_oz

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

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

  • Registered Users Posts: 1,482 ✭✭✭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.


  • Registered Users Posts: 1,535 ✭✭✭celtic_oz

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

  • Registered Users Posts: 3,108 ✭✭✭Buddy Bubs

    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

  • Advertisement
  • Registered Users Posts: 6,746 ✭✭✭circadian

  • Registered Users Posts: 7,819 ✭✭✭Red Silurian

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

  • Registered Users Posts: 1,535 ✭✭✭celtic_oz

    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.

  • Registered Users Posts: 20,949 ✭✭✭✭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.

  • Registered Users Posts: 7,819 ✭✭✭Red Silurian

    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

  • Advertisement
  • Registered Users Posts: 1,819 ✭✭✭kanuseeme

    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.

  • Registered Users Posts: 1,535 ✭✭✭celtic_oz

    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).

  • Registered Users Posts: 7,819 ✭✭✭Red Silurian

    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

  • Registered Users Posts: 1,197 ✭✭✭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