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[UK] used value of their Tesla cars plummeting?
- Thread starter Ricecooker
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Something that normally has an over night stop in between. Eg for me going to Manchester to London and back.
Car / battery / weather / driving style etc etc dependent of course, but surely a full home charge would be sufficiently significant in many instances to make that journey a good bit cheaper in an EV than a petrol/diesel powered car?
My trip to Scotland and back over new year cost 19p/mile in charging costs (excluding the home charging). At £1.50 per litre I reckon that's equivalent in cost to ~35mpg. (1.5/0.19*4.54). Phantom drain is a factor in the cost, having sentry mode turned on when the car was parked on the street in Edinburgh. Also wasteful preconditioning and it's winter with no heat pump.
Our PHEV will beat that easily running on petrol, typically 60mpg on longer runs. I've seen as high as 90mpg on petrol commuting home (30 miles with 2/3 on motorway) in heavy traffic. It would have done very well in the heavy traffic I encountered on my way up to Scotland.
Our PHEV will beat that easily running on petrol, typically 60mpg on longer runs. I've seen as high as 90mpg on petrol commuting home (30 miles with 2/3 on motorway) in heavy traffic. It would have done very well in the heavy traffic I encountered on my way up to Scotland.
London ti Manchester is 200 miles each way. If you have destination charging at the overnight stop that’s a max of 34p/kWh for around 115kwh (3.5mile/kWh) or £40
If you can’t charge when you get there then 200 miles at 34p - £20 and 200 miles at 68p (made up for simple maths, actual is usually less) - £40. Total £60
40mpg car at £1.80 per litre - £87
50mpg - £70
60mpg - £60
So you need a very efficient car and very expensive rapid charging to be more expensive
And the rest of the year 90% of your driving will be a fraction so even if it *was* more expensive it isn’t necessary to focus on it
If you can’t charge when you get there then 200 miles at 34p - £20 and 200 miles at 68p (made up for simple maths, actual is usually less) - £40. Total £60
40mpg car at £1.80 per litre - £87
50mpg - £70
60mpg - £60
So you need a very efficient car and very expensive rapid charging to be more expensive
And the rest of the year 90% of your driving will be a fraction so even if it *was* more expensive it isn’t necessary to focus on it
I would get between 2-3 miles per kWh in my performance model. Add in some miles each way for overhead and local travel. So roughly 150kwh needed. Half at 15p and half at ~69 or more at current super charger rates for Tesla so around £63-75
My wife’s car gets 40-50mpg in petrol and it’s now down to 1.34 a litre around here. So something around £55-£65 in petrol car.
I agree its still cheaper, but the killer comes if its a company car, which a lot of people have. it's a business trip, and your company only pays the gov rates which most do
A BEV and you'll get reimbursed 400 miles at 5p, so you'll get £20, and be down possibly £50 (it might be 8p now but the principle stands)
Take the middle Diesel or petrol rate of 17p a mile, and you'll get £68 and possibly break even, or not far from it.
On the flip side, this thread is about people worrying about depreciation and if it's a company car they obviously won't, but the man maths above suggest some won't want to take up that option if they do many business miles.
The way I see it and justify it to myself, is my M3P needs to be compared with other circa 500bhp cars, and I bet my left nut they are not doing 40mpg and would be paying > £75
NickParks
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Jason71
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Sean.
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You’ll always get a rude shock on the depreciation curve at the 2 or 3 year mark. The industry is built around the upper middle class penchant for regular injections of fresh shiny metal and YOU arguably pay for it.
The supply demand bubble we have just seen is a generational event. It’s unlikely to happen again for a while unless we have another global pandemic where everything goes topsy turvy for a few years.
Otherwise I’m consciously trying to run my cars etc for longer these days. The MX has had its fifth birthday and will stay for at least another two. I kept my C6 RS6 for 9 years and it still fetched nearly half what I paid in the market meltdown that was 2008/9. A1 stayed for six years until dieselgate upgrades royally ****ed it. Hopefully I’ll manage to avoid dry stone walls and keep the Taycan for a decent stint.
Buy it once and make it a keeper. The environment will love you.
The supply demand bubble we have just seen is a generational event. It’s unlikely to happen again for a while unless we have another global pandemic where everything goes topsy turvy for a few years.
Otherwise I’m consciously trying to run my cars etc for longer these days. The MX has had its fifth birthday and will stay for at least another two. I kept my C6 RS6 for 9 years and it still fetched nearly half what I paid in the market meltdown that was 2008/9. A1 stayed for six years until dieselgate upgrades royally ****ed it. Hopefully I’ll manage to avoid dry stone walls and keep the Taycan for a decent stint.
Buy it once and make it a keeper. The environment will love you.
Agreed.
I've had my 'proper' car for 17 years now. Valued at 4x what I paid for it, it's easy to justify keeping it to SWMBO.
The M3LR is very much a convenient / financially efficient way of getting about, so I currently don't envisage any particular need to change it in the foreseeable future so long as it and Tesla behave reasonably....the latter may be a big ask!
It would take a brave person to run one beyond the 8 year battery warranty, in my opinion.
There's also quite a few things that, while trivial, would cost £hundreds to rectify out of warranty. I've had 3 replacement rear tail lights, due to condensation, for example.
If anything it's worse because it's trivial, it's stuff that shouldn't even need to have been fixed. My 2020 car has done less than 5k miles, so it's not as if the stuff I've had done under warranty is even wear and tear.
There's also quite a few things that, while trivial, would cost £hundreds to rectify out of warranty. I've had 3 replacement rear tail lights, due to condensation, for example.
If anything it's worse because it's trivial, it's stuff that shouldn't even need to have been fixed. My 2020 car has done less than 5k miles, so it's not as if the stuff I've had done under warranty is even wear and tear.
what does that do for residuals too? by that token if you have a 7 year old car who'll want to buy it for a semi-decent price? Maybe the residuals will be low enough its worth keeping and then ditching if a big ticket repair comes along. Maybe by then there will be third party options to recycle and recover good cells for home storage to mitigate those losses?
Well, indeed. Given extended warranties don't cover the battery - to my knowledge - trying to sell a 7 year old car, or maybe even earlier, is basically saying "there's a £18k bill you might get if you're unlucky, which at this point is basically 75%+ of the value of the car, good luck!"
In the real world you’d just get a reconned battery from a breaker and put it in for a fraction of the price if it can’t be repaired by a 3rd party.
The only reason there are not loads of model S batteries on the recon market is people break them for conversions and it’s low volume car. Model 3 batteries will be much more common on the used market in 5 years. They are not that good for conversions due to the size of the module and the car is common as muck these days.
Literally no one goes to the main dealer for a engine replacement out of warranty, that’s the equivalent here.
The only reason there are not loads of model S batteries on the recon market is people break them for conversions and it’s low volume car. Model 3 batteries will be much more common on the used market in 5 years. They are not that good for conversions due to the size of the module and the car is common as muck these days.
Literally no one goes to the main dealer for a engine replacement out of warranty, that’s the equivalent here.
In terms of environmental responsibility we need to break the cycle of significant numbers of people buying new cars every 2-3-4 years.
8 years out, if the car is still 'fit for purpose' it will owe you very little, so why not keep running it until something big goes pop....it may well run happily for many more years. If it doesn't, it's time for a new one!
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