Why The UK's Used EV Market is CRASHING!

If you ever do a search based on wanting a cheap, fast car you might
have been surprised to see near new Teslas, Porsche Taycans and Audi
Etrons filling up the results, at astonishingly low prices.

But why are second hand / used Electric Vehicles losing so much value
compared to other cars?
Let's find out.

Obviously, not all EVs are crashing in value as much as others,
however in the case of the Mercedes EQC, or the Jaguar I Pace,
you could end up losing tens of thousands per year in depreciation alone!

From supply and demand imbalances to the cost of living taking a toll,
there are a number of reasons behind why I personally believe
Used EV values are declining so rapidly.

Don't forget to subscribe if you like cars,
and check out our other videos for more:

#electriccar #tesla #ev

[geralddavison]

A few points I'd make.
1. I'm a private "buyer" (retired) and have privately leased two EV cars. I own another one (bought aged 7 years old and now 10 years old and yes, it's still on the original battery and works just fine).
2. It's great that company leased EVs have dropped in value. I will be buying a 3 year old one 2nd hand when my current lease ends. Bargain!

I take on board your comments about obsolence, but I'm not concerned. I only need a 200 mile range car that I can charge at home overnight for 99% of my journeys. In fact that is probably 90%+ of the population. Once you've run an EV for a while you realise this is the case.

[mikadavies]

No point in picking BEVs that are crap technology when they were new.... Jag iPace was dreadful 5 years ago. However, business car taxes are indeed pushing many BEVs due to car tax.
This just means there are great value second hand cars that are 3yrs old.

[povnick]

a lot of people in the comments are EV car drivers 😂

[egonxm]

I'm 3 years into a 5 year ev lease, and my next one will probably be an ev lease.

The numbers workwd out well for me, my diesel car blew its turbo and was beyond economical repair.

I had 4 options.
1. Put £3000-4000 into a second hand car, typically 8-10 years old, such as my last car which blew up
2. Finance a 3 year old car.
3. PCP on an ICE.
4. Lease rental on an EV.

When I did the maths, the EV was the best deal. Offseting the £250 a month lease against the £150 a month fuel saving.
There wasnt an ice deal for £100 a month plus fuel even close to the car I got.

Its awful for 150+ mile trips, but in 3 years, only done 2.

Other than that, its great. Plug it in and Go to bed, wake up with 180 miles in it. It's not like i can drive in my sleep anyway.

As the market floods and the prices drop, i might consider a second hand one. Or might lease again. Decide in 2 years.

But zero regrets in my choice. Nice spec'd car new car for an effective £1200 a year. Zero faults, fast and reliable.

[oldgit]

You rather exposed your position with the use of the words '...proper car...'. EV technology is developing quickly, and two/three year old cars can be seen as yesterday's tech. All this does is bring those cars into the price range of more people, which can only be a good thing. The most effective way of powering an axle is with an electric motor.

[TheXhonda]

Interesting how ev marketers sing about Ev horsepower and 0.60
Reminds me of the promotional material of ICE in the 70s-90s

[scrubplaceholder]

When looking for fast cars I never get EV's, because I always check manual only. Cars with auto's are boring. I don't care if it is an EV or not, with an automatic it is just boring, and if I have to drive an auto, I'll get an EV, because EV's are faster and better. It's EV or manual ICE for me. One is good, the other is fun.

[pencilmen]

The govt are losing money from VED due to ev exemption so EVs will now have to pay.
They are losing money on fuel duty so its guaranteed they will introduce pay per mile. So you can forget fuel savings.

[radiotowers]

Wow, these cars are high spec, great performance, great energy consumption and the 3 year old cars are much cheaper …mm thanks for the info, think I will be buying an EV, with minimal servicing cost.

[Pulpdiction]

Why not lease a 3 year old Tesla that still has engine and battery warranty for less than £300 a month....

[bentleycreative]

I honestly watched this video looking for some insight, instead, I just got a load of anti-EV FUD

[sincerelydutch]

you should do a video explaining the events of the DTM Audi rs6 that got stolen in Amsterdam and was later set on fire

[abc]

Just like the diesel push by the gov … look where that ended

[perambulate]

I had been superficially investigating this EV business tonight and I came across what I thought was an anomaly in that it seems 17% of new car sales in the UK are EV's and only 2.5% of used car sales are EV's. This video seems explain the issue. I have something to add and that is that the corporate leased EV drivers may not care that only charging to 80% significantly extends the battery life and charged them to 100% 100% of the time, something that used EV luxury used car purchasers may want to think about - not that they do not already factor in the price of a new battery pack into their used EV purchase decision.

[bamse]

Didn't Jaguar stopp making their "IPace"? I mean who wants to buy a car that it will be almost impossible to repair, like a Fischer car.

[GenuineMongolian]

Ev market won’t last something more sustainable will come along in the next five years calling it😊

[ISuperTed]

I understand the need to sensationalise the headline for the YouTube algorithm m, but pointing out rubbish overpriced EV’s are highly depreciating is old news.

Market is in its infancy and will be all over the place for years.

No one e should buy a new one privately or an ICE car for that matter, they are all a waste of money.

[puppet-head]

You made the fatal mistake of assuming what the purchase price is, you have no idea what it is

[farhada]

Well that's 9:44 minutes of FUD. I don't think you've actually owned an EV and are criticizing them from the armchair. Sort of like telling Ronaldo what he should have done on the pitch, or Hamilton how he should have taken a corner. Actually own and then critic so that you critic from a place of knowledge. By the way, what exactly would happen if you bought a second had ICE car and 1 week later the cylinder valves broke and lodged themselves into the cylinder heads, well I guess an engine rebuild or a new engine, right… that would make your ICE car “worthless” wouldn’t it? You also much in the way of engine warranty from the manufacturer, like you do with batteries and drive train in nearly all EV for a good 5-8 years or 100k miles.

[jonjoe]

My next car will be an EV. They are superior, cheaper and much better for human health.