Depreciation shock! We reveal the UK’s BIGGEST used electric car bargains | Electrifying.com
Hello and welcome to an electrifying podcast special where we’re going to give you the low down on the electric cars that we think at the moment offer you the most value for your money I’m jinny and I’m Tom so Tom should we kick off with a bit of a recap on the market
Just to kind of how we got to where we are because there are some electric used Bargains around aren’t there yeah I mean it’s flipped so quickly hasn’t it from these kind of times when there were people ask asking about 60 grand for Volkswagen ID 3s and ID 4S because there
Was a 12mon waiting list to a stage now where they’re they’re not quite giving them away but they are certainly surprisingly cheap aren’t they yeah and then so there’s been that kind of realignment that we’ve seen kicking in over the last year from from you say
From prices that were nuts um but also Tesla Tesla poked the bear as well didn’t it yeah well I think that the do you remember that they sort of Slash £99,000 off the price of a new car and that suddenly means that all those used cars are not worth as much anymore
Either um so yeah the list price of those new used cars at dealers were suddenly more expensive than a new car so obviously they had to slash the prices of the used ones and that means that all the other used cars electric cars on the market just kind of lost
Their value overnight as well and there have been some real tumbles in prices so what we’ve done we’ve been in contact with the guys at cap who are well they’re the gurus when it comes to car pricing aren’t they they monitor and they predict values um for everyone in
The industry um and we’ve got them to share the top 10 drops over the past year and it makes really interesting reading so just to make this clear Tom these are prices for 12month old cars £1,000 on the clock and price drop is in yeah in comparison to what that car
Would have cost a year ago to what you could get it for now like for light so so they’ve monitored the prices at auctions and at dealers and said that a year ago a uh a year old a 12-month old car with 10,000 miles is worth this and
This year a year old car with 10,000 miles is worth this so it’s the drop in yeah in those values okay can I can I be are we gonna be DJs can we be like old cheesy radio one doing the top 40 yep yep if you’re
If you’re not listening in the UK radio one top 40 was a very important part of my childhood and probably yours as well Tom it was Sunday night they used to announce the top 40 the top 10 was a bit that we all waited for so here are our
Top 10 biggest price drops when it comes to used electric cars over the past 12 months in at number 10 Tom over to you so a year ago January 2023 a jaguari pace with 10,000 miles and a year old was worth £ 48,4 60 now the same age of car would be
3,240 so that’s a price fall of 18,22 I mean that’s huge and you’re an ipace fan aren’t you I love the ipace um so as you know I’m a World Car of the Year Jura and that car was it won triple um it won a Triple award the year it
Came out and it was the first um electric car I’m pretty sure to win overall Car of the Year such a beautiful car designed by the fabulous in Callum I I think now that kind of value that you know you’ve got to be thinking about that haven’t you if you’re in the market
For something and that’s your budget imagine if you live in Scotland and you can take access of that interest free loan although it might you might not quite fall for that but you know anyway it’s it’s just a great car that isn’t it
Um or or be it you know much more of a bargain now than it was a year ago yeah um should I do should I do number nine nine yeah yeah let me go number nine okay so in at number nine we’re sticking with the executive theme the Lexus
Ux300e that has seen a drop from £ 33,600 which it would have cost a year ago to 2,913 that’s a 37.8% drop you kind of expect a big drop with luxurious premium cars but that’s a lot yeah I the Lexus ux300 was it’s a bit of
A strange car I mean that the the first one that came out didn’t have a very big r range and it was expensive to buy if you paid full list and and it had things that weird things like a chadam fast charging format which as we know is kind
Of obsolete now but then they improved it they gave it more range and it’s got a proper connector and it’s it’s not as bad as you think I wouldn’t say it’s class leading but for 20 well just under 21 Grand for a year old car I mean I’d
Have one it’s it suddenly looks quite attractive next to you know super mini or something it’s funny because it’s one of the only a handful of electric cars that I haven’t driven and I don’t know quite how it passed me by but it just whenever we’ve had them in to drive I’ve
Just either not been around so yeah maybe I need to get on booked in with prices like that um okay Tom over to you for number seven oh number eight number eight sorry number eight number eight Mercedes eqa which is another curious Prestige car that again I thought was
Quite nice but it doesn’t do anything particularly special but anyway a year ago uh a year old one would have been worth 44,000 and now it’s 27,37 I mean that’s that’s goodness me you know it looks a little dated I think that car and it was a curious one
Because it looked a little dated almost as soon as it was released but again you know you’re getting a lot of coffee and money there aren’t you so we’ve had an interesting theme so far on the first three they’ve all been premium executive cards probably the kind of cars that you
Do expect to see a fairly decent drop the next one surprised me though because in at number seven it’s the Hyundai Kona I mean I guess there’s a lot of them around and also we’ve seen the new one come out which perhaps has taken the Shine off it but that fell from
28325 to 17588 that is a 37.9% fall um and I just goes to show doesn’t it Tom that the the difference it makes when you get a new model out you can really get some Bargains On The outgoing model yeah I mean again it’s a
Great car isn’t it 17 a half grand for a year old Kona I mean and it’s still got that big fiveyear warranty so you still got four years of warranty left on on the rest of the car I mean again it’s a really nice thing a cona is one of those
Cars you get in and think well this would be really easy to live with and those sorts of prices yeah maybe I’ll go and have a look okay over to you for number six number number six yeah so I thought this would actually be higher up the chart to
Be honest but it’s the voxal corser electric um and it’s honestly a bit of a shock to see how how little these are worth now I mean we all know and we keep talking about how overpriced it looks when it’s new you know the the thought
Of a spending more on a CER than on a Tesla Model 3 when they’re new is something that we just find incomprehensible don’t we yeah but uh a year ago a 12-month old car would have been worth 22430 which is a whopping fall from the
Um the sort of high 30 Grand Mark when they were new but now a year old corser is worth 13,830 it’s that makes the cors almost less than half its original price doesn’t it I mean well is less than half its original price I mean it’s just much
Less half isn’t it almost it’s almost a third a third of its original price I know that for me though I think that’s quite good news it’s obviously not good news for the payments on a new car because of course no wonder the finance payments are so high um but what it’s
Good news from is that that is I mean I of the two of course is I’ve always struggled with it a bit because I actually do much prefer the the perso the E28 I think it’s just a nicer looking package and I think it’s always felt a
Bit like the poor relation to the perso um but when you start to look at that for a 12-month old car with 10,000 mil on the clock that is a relatively affordable way into electric and and for me that kind of stuff does make me feel happy because it means that so many
People are priced out of new electric cars but actually looking at prices like that for a corer you can get really good electric runaround for that price so that I think is quite good news there out of that list probably not a good news for for Corsa though them out for
Vox not so good if you got yeah for finance yeah yeah uh so are we ready for the top five oh yes ready for the top five go on do you want to take number five okay at number five it’s another Prestige one it’s the Mercedes eqc which has dropped a hilarious 20,000
In value what I mean it’s 32 32575 yeah 32575 so that’s again that’s another another car that’s less than half price than you oh my Lord that is that’s ridiculous yeah I mean did do you I’ve driven an eqc I haven’t driven one for a couple of years and back then I remember
It being very refined and and a really nice car to drive but it’s old Tech Now isn’t it it feels like the Audi Ron or Q8 now has been upgraded and it’s got bigger range the Mercedes hasn’t it’s still got that kind of sub 200 100 m
Range in the real world which just means that it seems not great for a what could be a £70,000 car but on the other side I I completely agree with that but if if what you want is that really comfy luxurious load of tech you you’re
Definitely you know it’s got all of that in Spades hasn’t it you know you are going to get a lot of car for your money I think I come back to the point on this that I made previously is that I just don’t think generally Mercedes have
Nailed it with their electric cars they always feel to me like a bit confused they know they’re not bespoke platforms generally you know they’re just they’re not as efficient as they should be and I just think they feel a little oldfashioned but what you can’t take
Away from is the fact that that’s a lot of car for the money yeah yeah it’s a more expensive than Jag though you’d have the Jag wouldn’t you I’d have the Jag any day the week yeah I think I just in a like literally in a heartbeat it I
Still think that’s one of the Nic that the ipace is one of the nicest electric cars to drive it just handles really beautifully um right okay gosh um right number four we’re coming back down to worth a bit on number four keeping it real with the Mazda
Mx30 now it’s an interesting car this isn’t it because I think we we’ve not always reviewed it in the best way but there’s something that I do I do quite like does it like elements of this car um and particularly now when you see the price so this time last year 12month old
Master mx30 with 10,000 M on the clock would have cost 22,33 that has now dropped to $3,738 that’s my jaw is literally on the floor at that we’ve always had a few issues with the mx30 mainly around its battery size which just doesn’t seem to suit actually a car that is aimed at at families but again at that kind of price that’s really opening up electric car
Ownership to more people isn’t it yeah I think that there are a lot of people who don’t want a car like the corser and bear in mind that the corser and this a year old are now the same sort of price um and they like a crossover they like
Being set up a bit higher they think the doors are funky on the mx30 the interior looks good and it’s nice to drive and perhaps they don’t do the huge mileages that mean they need a big battery and 13 Grand you start thinking maybe an mx30 is the answer which isn’t isn’t
Something we normally say is it no but I it’s it’s it’s not but when you think it’s got those lovely doors you know those sort of you know that um what’s the word I’m looking for gosh I’m getting old well suicide doors but we don’t like saying suicide doors it’s got
And I’m doing the S I’m doing a hand signal for those of you watching listening and not watching I think we ran one for a while and we had a few problems with the 12vt didn’t we on that car car with it was very glitchy and the
Range wasn’t great but I mean for that kind of money yeah that’s that you got to be it’s got to be in consideration now yeah if you don’t do long Journeys it’s I’d say it’s worth a look especially at that that sort of price Okie do right over to you number three
It’s getting exciting well yeah the top three yeah so this one is a car that I’d forgotten existed which kind of I think all the buyers have too by looking at the prices so it is the DS three crossback which underneath is the same
As a fox mocker and a Perse e 2008 and and and those typ so it’s it’s a really interesting C that’s got slightly posher interior I it’s not to my taste the interior should I say but my wife Lisa really liked it so I don’t know it’s U
May may be a strange one but uh a year old one is valued now at just under £15,000 and a year ago it was 24,42 wow that is a that’s a massive drop yeah and just under 15 grand we’re talking about the master mx30 would you
Rather have an mx30 or a DS3 crossbite oh I’d have a DS3 cross CR proper range it proper doors yeah proper range I like the doors on the mx30 and there’s loads of room in the back on that car as well I know you’d have you’d have the Diaz
Wouldn’t you because it whether or not that the slightly overly blingy interior is to your taste it’s it’s a really comfortable car you know I think you would yeah y okey do we’re nearing The Final Countdown um Aldi number two um and this is this is a car it makes me
Happy to see this not happy actually for of course everyone that owns one or bought one a year ago but in at number two in our Hall of the Fall have you did you write that line Tom I think I might have done yeah the of the Fall um is the
Volkswagen oh which again 38.8% cheaper than they were last year almost 40% drop um £1,300 for a 12month old one according to those figures from cap and you know I’ve got such a soft spot for that car I think it’s great mainly because it’s called the the EOP aop which is a nice
Northern thing I think it was just designed for northerners that’s a massive drop isn’t it yeah I mean 12,300 but I I put this into a calculator and thought you know if you’re doing a PCP Finance on a new car you’ll typically financing the depreciation which will be
Around this amount now the thing is with a PCP that I I find it difficult to to get on with because I’m oldfashioned is that if you take out a PTP or you do a personal contract High you spend the amount on a deposit and then you’ll
Financing that amount so you you I don’t know you put up front £3,000 or something and then you spend two or 300 quid a month and then after two years or three years or four years you hand the car back and you have nothing and yeah
You just go what happened to all that money um so if you imagine that instead of doing that you bought a year old up for 12,300 and you took out a loan an oldfashioned loan to buy the thing the the payments would be if if you put like
A couple of grand towards it and then the payments would be about 300 quid a month and then at the end of it after those three years you’ve still got a Volkswagen up and you own it I know that’s quite it’s brilant temp it’s a great car it’s a really it’s a really
Great car it’s well put together it drives well you know was kind of I think it was one of the first sort of batch of newer electric cars that I drove you know it’s been a around you know it’s been around a while now but that doesn’t
Detract from the fact that they did a great job with that and that you know I could talk about Scotland all the time but you know that loan which is up to £30,000 interest free over five years you know if you’re putting it up and you
Can get that kind of Finance deal then that’s starting to look like a much more affordable proposition isn’t it for a little family runaround it is yeah but would you and I think this is the up problem it’s a great car would you borrow another, P say and then get yourself
Into a Corsa or an mx30 I don’t know if I don’t I don’t know I think I’d rather have an up than a corser yeah personally I think I would um and yeah I I don’t know yeah you’re right but that yeah exactly I suppose it
Just depends on what you want I think but I think this is the up is a great like first electric car I think that’s Al you know albe it’s still a reasonably expensive one but you know if you I said if you can get that over you know a
Decent payment term then that’s not too bad at all is it no no not at all so should we do the top one let’s do the top one have we got a drum roll sound effect perhaps Manos you can add Manos can drop on in and if not here
We go okay number one the most appreciating electric car the voxal mocka electric no does not surprise me I was kind of yeah it is it’s both a surprise and not a surprise isn’t it so so last year a year old example would have cost you
26,40 quid now 15,00 ,110 so that’s a whopping 42% drop I it makes the the mark seem great value I don’t think it’s a bad car the mocka good isn’t it yeah but if you if you look at that’s a new prices on the mocka correct me if I’m wrong they’re
Not far off 37 Grand are they yeah it’s about that isn’t it and the new one which has got the better battery and things is even more expensive so I think we’ve pointed out before that you could have a Tesla Model y for less than the
Price of a top mocker but but uh you know in the used Market is where you get the the realignments isn’t it so that’s where the real value of things comes out and that’s what they seem people are saying that a year old one’s worth 15 grand yeah that’s really it’s
Interesting isn’t it um we still not got a great range on it so you’re probably looking at 170 180 miles of range but actually again if you were looking at that as a you know family runaround there’s definitely so much more Choice isn’t there now and outside
Of the market yeah I there’s a lot a lot you can get hold of now that’s different even within stantis there’s there’s more choice of this type of car that kind of small SUV and uh I don’t know people maybe just don’t want a voxo badge I
Don’t know anymore is it come on take pick Tom which you having out of the top 10 you’ve got you can have whatever budget you want I’ll be I think you know what I’m going to go for yeah well you’re going to go for the ipace aren’t
You um I’ll tell you what in terms of value I think I’d have the Lexus would just because it’s slightly different and then if it’s the newer one with the bigger battery I think that at 21 Grand’s astonishing value for for that sort of car it’s um I know I don’t know it’s
A I think I’d be I think as my second pick I’d be quite tempted with the up I do you know it’s got a decent little battery it’s very efficient I think in terms of value the up is the one but you know you gave me unlimited budget
So I did I did um no we we’re running out of time now but you are also going to do a bit of a peruse around the auctions aren you we’re going to do another podcast special coming up in a couple of weeks that looks at just some
Of the great deals because these are the top 10 cars that have dropped the most in price over the past 12 months so hopefully that’s helped you a bit if you’re looking for a used electric bargain but we might come back with some more specific options to have a chat
About other cars that have caught our eye that are particularly good value at the moment and keep watching and if you aren’t subscribed already do subscribe because we’re probably going to do that as a podcast special in a couple of weeks but Tom our Market
Guru don’t go and buy any of them now will you well I I do need to buy an electric car which is how I keep stumbling across these Bargains it’s um uh but I must must stop as always thanks for watching and like I said if you aren’t subscribed
Please do click on the icons you know what to do and we’ll be back soon bye bye
#depreciation #cheapevs #electriccars
Welcome to an Electrifying podcast special where we’ll be giving you the lowdown on the used electric cars that we think offer you the most value for your money.
Let’s start with a recap on the used market. We saw crazy prices post-lockdown when the slow supply of new cars saw the prices of used cars reaching almost laughably high levels.
But in the past year we’ve seen a realignment of those prices and they have plummeted for used electric cars. As a result, they are all looking VERY affordable.
The fall in values was triggered by a number of factors, but arguably the biggest was Tesla’s decision to reduce new prices by thousands of pounds. This had an immediate knock-on effect on the used market and shockwaves through the industry.
This is a story that has winners and losers. The losers are those who paid full whack for new cars at the height of the market and have taken a big depreciation hit. The winners are used car buyers, who can now pick up a bargain.
We’ve obtained valuation figures from the experts at CAP, and in this video, we list the top 10 most depreciating electric cars on the market. If you’re thinking of buying a used car that appears in our list – well done, your timing is perfect. If you’re considering one new, it might be worth reconsidering your choice!
Join Ginny and Tom as they discuss the list and choose which bargains are worth picking and which should be avoided.
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