Used EV Prices

[Mark55]

Used EV prices not looking so good if this article is correct!

https://cardealermagazine.co.uk/publish ... ead/279724

Used prices for ID3s will be affected by this increased depreciation.

[macwatt]

EV prices are correcting themselves in my opinion as there are more vehicles to buy especially used previously prices were were artificially high because of high demand and no supply ICE cars will follow a similar trend.

[monkeyhanger]

Not so long ago, a "£36k" RRP ID3 Family Pro performance could fetch £44k on the used market, now it's £33k - that's not a plummeting value, that's a correction to an extraordinary event.

Tesla's used prices have tumbled due to the £9k price drop bombshell, but in reality, that's just a reversal of a huge price hike not so long ago. The market's jittery, wondering if anyone else will drop their prices like Tesla have. To be Frank, for those car makers paying proper wages out rather than having $20 a day Chinese workers build them probably can't afford to drop the RRP by 15-20% and still make a decent margin with parts bins seriously short on supply still.

[OB1CCFC]

Looking at car depreciations for last year, before the Tesla price drop, it’s interesting that Tesla was by far the worst.
Top 10 biggest depreciating used EVs 2022.
Prices for used models 12 months old with 10k miles from Cap HPI
Tesla Model 3 -23%
Tesla Model S -22%
Audi e-Tron -15%
Jaguar I-Pace -14%
Tesla Model X -13%
Mercedes EQC -13%
Smart ForFour Electric -10%
Audi e-Tron Sportback -9%
BMW i3 -8%
Renault Zoe -8%.
I personally wouldn’t go anywhere near a Tesla. Things are so unstable in the business and Musk’s brain.

[Chris]

I know that this won’t read well for most but I personally think they need to fall in price
The ID3 will have to reduce prices when more and more cars come to market because the car and quality isn’t that good, a new tour is around £48000!
If a three year old car was worth 50-60% previously it would of done well so we should be seeing better value for those purchasing used

[soupdragon]

The weird thing about ID3 prices is the very small gap between a 2020 car and a 2023 car. Its relatively tiny. So one of them is wrong. Either the 2020 car is too expensive or the 2023 car is too cheap.

If you look at the prices of a VW Golf, they are still very expensive in all but the smallest engines so in that respect, a 2020 ID3 looks priced about right, compared to the ICE equivalent and if the 2020 ID3 is priced correctly, then why is it only a little bit more to get a relatively new one?

Something has to give and the market needs to find its correct place. With the prices of ordering a new ID3 being seriously expensive now, albeit, its going to be the mid life refresh, I personally think a 2022/2023 ID3 will just sit at its current price for quite some time, while the 2020 cars just tail off bit by bit as they age and eventually, that price gap between a 2020 and 2023 car will find its correct gap. It just doesn't make any logical sense right now.

[MotMot]

When VW need to sell (as in supply has caught up more with demand) we’ll see some heavy discounting coming in… 5-10% off rrp - then the 1-2k deposit contribution etc etc..

Id3 prices have really dropped - but not got back to reality!!

My (first) ID3 cost me £23.5 after all the grants and discounts - 18 months on similar are going for £26k on forecourts.. really - after 18 months it should be £15-18k based on pre bubble ICE depreciation rates…

[macwatt]

My Evoque First Edition predicted value after three years was 55% I sold just coming up to four years old at 73% of its purchase price based on that I’m sure 22 plate ID3 price although one of the cheapest I found and that was immediately available was slightly inflated but you can’t have it both ways.

[roybosh]

When I ordered my car in October 2021 I signed up for a 10k mile 3 year contract. A biggish deposit left me with £299 to pay each month.

In December 2022 I asked the dealer to look at how much it would be for 12k miles. It came back, with the same deposit, same time frame, at 196 per month, the reason was that the residual value of the car was worth 36 x £100 more in December 2022 than it was in October 2021.

So I've saved £3600 on my repayments but the car will presumably be worth £3600 more on the final payment should I keep it or be worth £3600 more to hand back.
I think I have understood this, let me know?

[sidehaas]

We paid a little over £30k for ours including our part ex just over a year ago. It was always with the mind that the value might drop significantly but we bought with the intention to keep it a long time. Even despite the recent drops, the cheapest equivalent car currently on Autotrader is £28k and most are around £30k. If it was worth £25-26k to sell that wouldn't be bad depreciation.

I noticed recently there were some good pre reg offers floating around on ID3/4/5s. The ID3s were mostly Family Pros, for about £32k with alloys. I guess these are from orders cancelled by people who could no longer afford them. If there is a batch of Tours and Maxs arriving over the next couple of months, some of those might become available too.

I'm hoping things will drop a bit more. It would open up my options to replace my remaining ICE if I could by a large battery ID4 or Ioniq 5 with under 40000 miles for <£25k in a year... this seems very possible.

[soupdragon]

We paid a little over £30k for ours including our part ex just over a year ago. It was always with the mind that the value might drop significantly but we bought with the intention to keep it a long time. Even despite the recent drops, the cheapest equivalent car currently on Autotrader is £28k and most are around £30k. If it was worth £25-26k to sell that wouldn't be bad depreciation.

I noticed recently there were some good pre reg offers floating around on ID3/4/5s. The ID3s were mostly Family Pros, for about £32k with alloys. I guess these are from orders cancelled by people who could no longer afford them. If there is a batch of Tours and Maxs arriving over the next couple of months, some of those might become available too.

I'm hoping things will drop a bit more. It would open up my options to replace my remaining ICE if I could by a large battery ID4 or Ioniq 5 with under 40000 miles for <£25k in a year... this seems very possible.

Yeah, quite a few members on here cancelled their ID3 orders due to the wait and/or the shocking lack of communication from VW. So its no real surprise to see lots of new/nearly new ID3's for sale

I was close to cancelling mine as well, £30k for a family pro performance, moonstone with the Derry alloys but when I looked at what else I could get for £30k, it was old Tesla M3's, Kona's, Niros and the like so the £30k was a pretty good buy all things considered.

Yes, it was a terribly long wait but the car drives well and its great nipping around town. It feels very solid on a run, even at high speed and handles bumps in the road well. IMO, the interior is bland bar the custom lights, but the seats are good and the overall drive makes up for it. Feels very safe and secure behind the wheel. Not hot hatch fun but it goes where you point it and I enjoy that predictability. Matrix headlights are better than I had hoped - 1st class piece of kit so the overall package I think was good value for money compared to what else £30k gets you these days.

[G43FAN]

I know that this won’t read well for most but I personally think they need to fall in price
The ID3 will have to reduce prices when more and more cars come to market because the car and quality isn’t that good, a new tour is around £48000!
If a three year old car was worth 50-60% previously it would of done well so we should be seeing better value for those purchasing used

What do you consider to be the main issues that make the 'Car and quality not that good'?

[Chris]

The software isn’t great, interior feels cheap and the build doesn’t seem up to vw’s standard.

We had a new Peugeot at work the other week which seemed better in many ways.

Hopefully when they bring the facelift out it will be better?

[monkeyhanger]

The software isn’t great, interior feels cheap and the build doesn’t seem up to vw’s standard.

We had a new Peugeot at work the other week which seemed better in many ways.

Hopefully when they bring the facelift out it will be better?

What specifically about the build isn't up to scratch? Our 2 were very well screwed together - not a buzz, creak or rattle, unlike most of my old Golfs, Sciroccos or Polos. Pulling at interior to fit dashcams showed that we're out together like an ICE car.

[sidehaas]

I also think it's physically very well put together. It's just a different style from something like a Golf and doesn't have plastics that look like leather, chrome or fake stitching everywhere.
I don't understand people complaining about hard plastics either. The vast majority is reasonably soft touch, it's only really the bits you never touch and that are rarely even looked at which are hard. I had a rental Kia Stonic last week (a 21 reg with auto steer, so it wasn't poverty spec) that was really terrible - absolutely everything was hard and scratchy to the extent I couldn't use the arm rest in the door for a couple of hours without hurting my elbow. It really reinforced for me that the ID3 interior is pretty good.

[Chris]

We’ve a few rattles on the dash and front door panel, a sqeek on the rear end at low speeds and I’d say that the panels could be better aligned

I’ve driven a few now which have been similar

It’s a works car so I’m not too bothered but it wouldn’t be what I’d personally buy

[MotMot]

I’m on my second id3 and both have been perfect for rattles.

I had a hire mk8 golf for 2 days last month and over 400 miles or so I really don’t get the fuss about the id3 materials or feel. The Golf was a great car - but certainly more plasticy and no discernibly better build! I got 60mpg from it (petrol) that was quite impressive. Wouldn’t swap though!

[OB1CCFC]

My ID3 was very well put together. There was an ocassional rattle on a rear seat catch which I fixed.
The interior was designed to be fresh, fun and minimalist, not everyone's cup of tea, but that was the design.
it's a very good car.