Won't the used car market for diesel/petrol be strong in 3 years if people switch to Electric now as there will be less available to buy and people often don't like buying used electric as the batteries go crap? Everyone I know with a company car buys new and I would expect most will just wait for their current PCP to end before switching to electric. There may be a short-term glut of used petrol/diesel if people swap in early but that would only be for a year or 2. I'd expect in 5 years time 5yr old petrol/diesel will be holding their value well for normal non-business owners as there will be less of them. Just my thoughts, FWIW.
Providing they aren’t taxed out of existence, diesels will still be running in 20 years. Can’t say with confidence the same about electric cars bought now..
Right now the only electric car I would find interesting would be a local runabout, and then when I look at the cost to lease or buy its not interesting at all. I don't see that changing much -if at all- over the next five years.
Can depend how it's done. I can salary sacrifice a new car at work. Due to the zero bik from April on electric vehicles, I could get a new golf e on lease for 2 years, 10k mileage for £190 a month. No deposit, insurance, maintenance included. Add in another £120 a month in saved pension contributions due to the stupid thresholds for contributions within the NHS, and I have a brand new £30k car for a little over £70 a month. A Jag ipace would work out about £250 a month.
Back to the original topic, it really depends on circumstances. I was recently in a dealer, who was suggestion pcp was always the way to go. His logic was the £3700 lost in depreciation over 3 years on the px price he was offering me. Using his pricing examples, if I'd bought a £9k bike on pcp over 3 years, I'd have been looking at approx £120 a month after a deposit, so over £4k plus deposit over the same time period. I could also sell privately, and I'd suspect for somewhat more than the px offer. Different bikes at different times however may well have different outcomes.
They rarely do tho. The PX is often way under the final payment and selling can be difficult with outstanding finance
I meant I could sell my current bike for more than I was offered in px, thus making buying even cheaper, comparatively.
The small size of the private sale market of bikes (or anything else) over £5K means most people are forced to trade in at a dealer. Dealer holds the all cards as most buyers don't have cash just good credit.
I wonder if the electric vehicle s/h market will totally tank after the vehicle is out of the warranty period ,with batteries costing £1000,s who in there right mind would buy one out of warranty ? If the manufacturers were confident of battery life they would offer 150,000 miles /10 year warranty ,not the three years usually offered .
Ha, learnt it from my father, he took me to buy my first car, seller wanted 600, my father offered 200, seller almost passed out (so did I), anyway we got it for 300, a good life lesson learnt!.
I’m thinking a good bank job to fund plenty something a little safe... or has a safe! cash used to be king, but not anymore.... I tell you it’s all going to go tits up anytime soon it’s pretty much the only thing keeping the motorcycle and car industry alive. Sure some smart arse will cash in on the next new financial breakthrough
Tesla Model S battery is warranted for 8 years. IIRC it’s the longest warranty on any fully electric car. In 8 years time who knows what solid state/sand/Wotsits power source will power our stuff!
But there wont be any fuel to run them on. We wont own vehicles in 15 years time like we do now. We may not even have our own personal vehicles. The UK especially can barely cope with the traffic on it now, and at some point Govt will have to look at reducing that.
There will always be demand, given most production of electric and backups will be generators for decades to come. Plus you can run diesel on other substances.
I know Toyota guaranteed their battery packs for 10 years or 100,000 miles in the Lexus hybrids so full electric warranty that length or more should easily be achievable, the death of diesel / petrol engined transport will be dictated by tax on fuel and VED not the availability of fuel. I think the tax regime will probably even out between ICE and electric once enough people have bought into the electric dream - this will prolong ICE vehicles until they reach natural scrappage age. There will also be scrappage incentives to kill off ICE in future - as they did to get us into diesels
