How EV Depreciation is DESTROYING vehicle financing | MGUY Australia

The vertical depreciation of Electric Cars is damaging the vehicle leasing industry, as prices rise and the disparity between EVs and regular cars gets larger and larger.

#electricvehicle #electriccar #evfire #ev

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[gorethegreat]

I wouldn’t touch an EV with a extremely long insulted and fire resistant barge pole

[DeeDee-pwpm]

I don't think modern battery EVs will ever become classic cars.

[TheHorsebox]

My son works in an Audi dealership here in Ireland. A guy came in with a three year old electric Audi he'd paid 90k for. Salesman told him it was worth 18k on a trade-in. The guy nearly needed an ambulance.

[blogg]

When in UK a £32k EV can be Registered and then sold as "Used" a few months later with 10 miles on clock for £18k there is a structural problem

Yet the shills are still trying to talk them up

[G]

That's their goal all along, to eliminate private car ownership and the physical independance that comes with it. Absolute monopoly of the physical transport sector by the government.

[SusiesRepeat]

Wouldn’t touch a lease any more than an EV.

[billmitchell]

Spot on mate, here in the UK the second hand ICE car market has gone crazy as nobody is willing to buy a used milk float!

[martinbaggott]

Kisin’s quote is perfect for this- ‘You can ignore reality, but eventually you can’t ignore the consequences of ignoring reality’

[jabezhane]

I remember watching a motor garage guy channel on YouTube many years ago in that he leased a Chevy Volt. He liked the car. So much so he wanted to buy it at the end of the lease. So he found the used market value was say $5000. The Lease company wanted $10000. They wouldnt budge. So he let it go. When the guy came to collect it, he asked the guy what happens now. He simply said "Oh I take it straight to the auctions and it will go for $1000 maybe! Happens all the time!" This was like 6 years ago.

[Mike_Davidson]

"EV's are a scam." - Akio Toyoda Dec 22, 2020 👏🏻👏🏻👏🏻

[ericrawson]

So glad I bought a five litre V8 Jaguar three and a half years ago. Just checked on Autotrader, my depreciation is less than 10% per year.

[scaryfakevirus]

EVERYTHING is being destryed by design.

[JT-ovyr]

Glad to see your back and in good health MGUY.

[dybmskn]

The bubble has to burst Simon, people can't be stupid enough to keep falling for this bs being pedalled by these con artists...surely.

[garyquinlan]

Leasing companies ARE NOT a charity but a profit making entity. Assuming countries like Germany DO NOT reverse their decision to terminate EV subsidies (and they shouldn't as taxpayers SHOULD NOT be subsidising what is essentially a private purpose) then if governments mandate for higher fleet percentages of EVs, this can only mean much higher lease costs which companies will need to pass on to consumers of their products. HELLO INFLATION!!

[kennethwers]

It's not just the battery. No right to repair. Used laptop on wheels. High power electronic. One bad sensor or wire will brick the car. Limited information for after market repair shops. Equates no value

[jeffbroders]

I have over 199000 miles on my 20 year old F-150 truck. Other than regular maintenance, the only thing I've had to replace is the master cylinder for the brakes and the door latch cables for the rear doors. It still runs great and doesn't burn oil!

[roadtrip]

During your posting hiatus a truck carrying industrial sized lithium batteries overturned on USA I 15 in CA resulting in fire with the major impact of shutting down the freeway use between Los Angeles and Las Vegas for near 2 days. Emergency services were required for stranded motorists in peak summer heat.

[YouShouldThinkYourself]

I guess if you were stupid enough to buy an EV in the first place then plummeting resale value is lesson well learnt. (Maybe)
BUT if you're stupid enough to buy a second hand EV then you're beyond help.

[iainw]

Mandate looks like Soviet central planning.