Well, had the Cupra for 2 years now. Love driving it and still think it's one of the best looking EV's.
Depreciation is biblical. Worst I have ever had on a new car, and that alone I think will stop me getting another one.
Seat called me back to see if I wanted a newer version, but offered me 7k less than the outstanding finance. The car is mint with 18k on it. Considering I put a 10k deposit down when I bought it, that is appalling.
So it's looking at the moment that I do one of two things....
Just continue to pay the finance to the end and keep the car. Nice thought, but not sure keeping an EV long term is the smart move. By the time it's paid, that is a 4/5 year old battery and the car will be worth zip.
Or, simply hand it back when I get to the balance part of the finance (3 years - so next year) and write it off as a bad decision. This at the moment is looking more likely.
Spoke to the dealer last week and he says 69% of their EV buyers have gone back to combustion this year. That's a lot. Unfortunately, I have to say I may be one of those people.
The UK have not rolled out the EV wagon very well.
My insurance quote arrived today and it's mentally high. Called them and it's because it's an EV. The costs of minor EV repairs are so high they are hiking up the costs to cover it.
You getting another one?
I really like my Born and I intend to keep it a long time, I had my last car 10 years and I bought this outright because that's what I intend to do, keep it, so I've been ignoring the depreciation.
Unfortunately a HGV clipped it a month or so ago. It caused a bit of damage but surprisingly little. I'm not going to lie that a little bit of me wanted it to be written off ( it's not repaired yet so still could be but I doubt it) so I could get all my money back from the gap insurance. If that did happen I would probably get myself a VZ, I would only need to add few grand for that in that scenario. If I was the part ex mine for a VZ I suspect I'd need to add £25k+, so I'm not going to be doing that.
Isn't part of the reason for high depreciation the fact that every year the technology is getting better and range is getting longer? which isn't really a factor for ICE cars. But makes older EV's less appealing compared to new EV's. Also, my brother in law recently got a new electric Corsa (yawn!) but paid £17k instead of the £33k list price. Deals like that will drive depreciation down too.
And on the subject of insurance; mine will be due in November and the claim is unlikely to be settled by then so I expect that to be hefty!
Unfortunately a HGV clipped it a month or so ago. It caused a bit of damage but surprisingly little. I'm not going to lie that a little bit of me wanted it to be written off ( it's not repaired yet so still could be but I doubt it) so I could get all my money back from the gap insurance. If that did happen I would probably get myself a VZ, I would only need to add few grand for that in that scenario. If I was the part ex mine for a VZ I suspect I'd need to add £25k+, so I'm not going to be doing that.
Isn't part of the reason for high depreciation the fact that every year the technology is getting better and range is getting longer? which isn't really a factor for ICE cars. But makes older EV's less appealing compared to new EV's. Also, my brother in law recently got a new electric Corsa (yawn!) but paid £17k instead of the £33k list price. Deals like that will drive depreciation down too.
And on the subject of insurance; mine will be due in November and the claim is unlikely to be settled by then so I expect that to be hefty!
V3 58kwh e-boost in Quasar gray.
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DrEVil2024
- Posts: 26
- Joined: Fri Jun 14, 2024 8:29 am
Yea, it's a shame.
Unless something radical happens, I will almost certainly just hand it back and walk away. First time i have ever done that, and I have probably had 20+ new cars from the dealer.
I don't drink, smoke or do anything interesting, so cars were/are my thing.
Nearly all petrol/diesels seem to comply with low emission zones now, and the 'no combustion engines' deadline will almost certainly get kicked down the road again.
My wife's petrol Mini is a third the cost of my EV to insure. My insurance has trebled since I bought it.
Not sure what I will get next. Got a year to think about that.
Unless something radical happens, I will almost certainly just hand it back and walk away. First time i have ever done that, and I have probably had 20+ new cars from the dealer.
I don't drink, smoke or do anything interesting, so cars were/are my thing.
Nearly all petrol/diesels seem to comply with low emission zones now, and the 'no combustion engines' deadline will almost certainly get kicked down the road again.
My wife's petrol Mini is a third the cost of my EV to insure. My insurance has trebled since I bought it.
Not sure what I will get next. Got a year to think about that.
The answer surely is to buy a nearly new EV isn't it? Someone else has then taken the biggest hit of depreciation then.
My other thought regarding if my car had been written off was that i could buy a similar 2 year old born and pocket something like £20k.
This is the first car I have bought new, and for various reasons it will probably be the last. Not that I regret buying the Born new.
My other thought regarding if my car had been written off was that i could buy a similar 2 year old born and pocket something like £20k.
This is the first car I have bought new, and for various reasons it will probably be the last. Not that I regret buying the Born new.
V3 58kwh e-boost in Quasar gray.
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DrEVil2024
- Posts: 26
- Joined: Fri Jun 14, 2024 8:29 am
All new cars depreciate... don't buy new unless you expect to take a hit
But for it to be worth 22k less than I paid 18 months later is a bit steep.
My next car will be a year old something. Probably go back to my favourite pickup trucks. If someone would make an effort and bring out an EV truck, I would love to get one.
But, EV pickups that are actually useful are a long way away.
But for it to be worth 22k less than I paid 18 months later is a bit steep.
My next car will be a year old something. Probably go back to my favourite pickup trucks. If someone would make an effort and bring out an EV truck, I would love to get one.
But, EV pickups that are actually useful are a long way away.
There will be a point where everyone will be pushed to EV's and then the depreciation of ICE cars will be massive.
I suspect with petrol and diesel looking relatively cheap at the moment, about 50p a litre cheaper than when I got my Born, come the next budget that will get a big tax increase.
I suspect with petrol and diesel looking relatively cheap at the moment, about 50p a litre cheaper than when I got my Born, come the next budget that will get a big tax increase.
V3 58kwh e-boost in Quasar gray.
I'll likely never own another petrol car again now that I'm back living in Europe where the cost of fuel is bonkers. We're hoping to be buying a house in the next 12 months, and job one will be installing solar, so makes sense to have an EV going forward.
That said, I wouldn't touch another VAG EV with a ten foot pole.
Bought our Born brand new 12 months ago for €38,000. Paid cash for it. Within three months, a third of the value was wiped out. That, coupled with the horrific infotainment system (odd how in modern cars that's become such a cornerstone of the driving experience) and constant software bugs has completely put me off it. VWs are identical as well with the iD3 and iD4.
Before this car I owned exclusively VAG cars - two Audis, Golf R, and a couple of boring Jettas - and all were great to drive.
Can't wait to be out from under this thing, though. Worst car I've owned. Next car will be a 2-3 year old Model Y.
That said, I wouldn't touch another VAG EV with a ten foot pole.
Bought our Born brand new 12 months ago for €38,000. Paid cash for it. Within three months, a third of the value was wiped out. That, coupled with the horrific infotainment system (odd how in modern cars that's become such a cornerstone of the driving experience) and constant software bugs has completely put me off it. VWs are identical as well with the iD3 and iD4.
Before this car I owned exclusively VAG cars - two Audis, Golf R, and a couple of boring Jettas - and all were great to drive.
Can't wait to be out from under this thing, though. Worst car I've owned. Next car will be a 2-3 year old Model Y.
My lease is up this time next year so I'll see what's on the market at a good price for me at that time. I am happy with the Born in most ways but the lack of rear speakers on my model and sluggish software are things I won't want on my next one. Sure they supposedly fixed this on newer models but have left us with older cars with amateur buggy software and done very little about it.
I was eyeing up the Kia EV6 but depends if I can get it at the right price. Wouldn't go back to a fossil burner and wouldn't get a Tesla with that whackjob in charge.
I was eyeing up the Kia EV6 but depends if I can get it at the right price. Wouldn't go back to a fossil burner and wouldn't get a Tesla with that whackjob in charge.
Born V2 Vapour Grey
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DrEVil2024
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I am a pickup truck man in my heart, but my last Ford Ranger was beautiful, but had awful build quality.
However, I see slowly, all the car manufactures are bailing on the EV only idea. Volvo the latest to bin that plan.
I have been waiting and waiting for an EV pickup and it's not going to happen any time soon. When it does, it will be far too expensive.
So not sure. Certainly won't be another Born and highly likely not an EV. I'll see what is around next year.
However, I see slowly, all the car manufactures are bailing on the EV only idea. Volvo the latest to bin that plan.
I have been waiting and waiting for an EV pickup and it's not going to happen any time soon. When it does, it will be far too expensive.
So not sure. Certainly won't be another Born and highly likely not an EV. I'll see what is around next year.
