EV Depreciation

Is that 8k to move up 2 years in a 50k+ RAV4?

Which ones have you driven that are bland and uninspiring?

Turning into a ridiculous circular thread and is now totally off topic.

I own an EV, bought it a year ago and am perfectly happy with it. I know the drawbacks and did my research before buying. There are pros and cons to both types of cars and I dunno why this has become such a “my choice is better than ur choice and I won’t stop until u admit mine is better” nonsense conversation.

now back to the topic, anyone got thoughts on the floor for EV depreciation? I know cars generally depreciate forever until they become classics or worthless but the annual percentage drop does seem to be greater than ICE at the moment

Just because govt is pushing EV’s it certainly doesn’t mean that not following means you are conservative or resisting change, it could be simply because EV’s are too flawed currently for most drivers to consider one. In 2008 our govt pushed us to diesels and sales doubled to 70% of the market. Those that stayed petrol because they saw diesel wouldn’t work for them

Any car both on finance was not affordable. Unless you can pay cash for a car twice over tomorrow then you can’t afford it, by my strict definition.

Edit: that was intended as a reply to specific post that didn’t work.

I thought I was strict!

I set it at 50% of annual take home salary. But I have no other debt.

I bought a Tesla MY LR , which cost about 55% of my take home pay. Luckily, I had a trade in which meant i only paid out 8% of my take home pay. Don’t have any other debts, and the tesla is the best car i ever had, from a driving, economical and technology POV.

on the question of EV depreciation, there was a supply/demand inequality this time last year for all cars ( incEV’s) due to covid/Ukraine, which meant people were overpaying for the car. The market is now only correcting itself. (I got a ridiculously good price for my Audi Q4 when selling it in March 23, i know someone who tried to sell their Q4 in September 23 and were offfered @15k less for the same car)

while EV’s have always been sold at a higher price than ICE versions, this is likely coming to an end, but not in a good way.

If you paid for a new EV in 2021/2022, you will probably take a higher depreciation, as all makes are bringing down EV costs to a more sustainable price for them.

a game changer would be if a 1,000km battery makes an entrance in 2024

Ever heard of a rule of thumb?

Fair play. I wouldn’t be able to do it. My brain would look at the depreciation (the actual cost of changing) and see €24-30k every three years as a hard sell. But I’m a mean cnut.

There's a difference between suggesting that something is a rule of thumb and saying things like 'Seeing people in cars worth a years salary is embarrassing'.

For the most part, rules of thumbs tend to go out the window based upon what forum a discussion is happening. It's all about priorities for our hard-earned cash.

Go to an iPhone forum and how often you should upgrade your phone and how much you should spend goes out the window. Go to a parenting forum and any rules of thumb about how much you should put away for your children's education goes out the window. Likewise, there are many here who spend ridiculous amounts on cars that would never dream of spending the cash some on the travel forum spend for a one week holiday.

Sure, if you go to a general finance forum, you might discuss the theoretical person that should spend no more than 25% of takehome pay on mortgage/rent, should be contributing 50% of their age as a percentage of salary to their pension, etc. In practice, coming to a car forum and talking about general rules of thumbs on how much should be spent on cars is going to mostly fall on deaf ears.