Residual values

[ganzoom]

 

40 minutes ago, i-s said:

.2.8p/mile, or £18.40 per month depreciation. I was pretty pleased with that. 

I'm sure over time we'll lose a bunch on the Model 3, but it's too awesome to care..

Whoozheer!!

The hatred for diesels have really helped IS300H residuals!! To think we very nearly went for a diesel XF/XE instead of the Lexus in 2015 :).

The Model 3 is awesome, but we have just got the first invoice and bill through from the architect for our house extension........Don't think we be splashing out on new cars for a long while yet 😞

[Guest]

Lets see some pics of your new Tesla 3 i-S,

I have seen 5 in my area recently including  one with a very special matte colour scheme which wasn't to my taste.

I went up to take a closer look at this one and when i looked in the window the car took a photo of me which did make me smile.

[Dealkent]

5 hours ago, ganzoom said:

 

Whoozheer!!

The hatred for diesels have really helped IS300H residuals!! To think we very nearly went for a diesel XF/XE instead of the Lexus in 2015 :).

The Model 3 is awesome, but we have just got the first invoice and bill through from the architect for our house extension........Don't think we be splashing out on new cars for a long while yet 😞

Looks more like IS300h are in demand , especially in London . We had a diesel XF 59 , loved it , looked at getting a new one but too expensive and too heavy on petrol , so went for the Lexus ,  since then we too have had an extension which ended up being double the size originally planned and then total cost as double, so won’t be changing car for sone time , it’s still only got 45,000 miles so it’s fine . I do miss the electric seats and rear view camera though 😥

[i-s]

1 hour ago, Eame64 said:

Lets see some pics of your new Tesla 3 i-S,

 

Apologies in advance for OT then....

We just got back from a 1000 mile road trip around Scotland, so a few opportunities for moody/atmospheric/scenic photos of it there:

 

Not sure why the first few aren't showing up properly - the links work

 

[Guest]

Looks great,I’m sure it’s everything and more than you expected.

[i-s]

Thanks

It's actually exactly what I expected. It's not as good as the GS for flying down a motorway - the GS rides smoother and quieter. The 3 is epic down Scottish A-roads, with amazing balance, poise and power, so easy to place and awesome grip. I love the minimalism in the interior, the infotainment system is easily the best I've used in any car (but not without its flaws). Our Scotland trip covered more than 1000 miles, and I had to pay a grand total of £6.00 for "fuel". It's better than the Leaf in every way (Shock! Surprise!). As a daily driver it just feels absurdly special (in fairness so does the GS, in a different way... We're not spoiled at all with cars!)

[ganzoom]

21 hours ago, i-s said:

We're not spoiled at all with cars!)

 

Given the number of Tesla + Lexus owners on here may be we need seperate sub section 😉

There are much worse cars to have on the driveway!!

[Shada]

Now I want a tesla 🙁

[Vlady]

10 hours ago, Shada said:

Now I want a tesla 🙁

I started thinking about Tesla 3 myself! 😞

[Dealkent]

12 hours ago, Shada said:

Now I want a tesla 🙁

I think everyone is thinking about a Tesla ! , but , they are expensive and there are reliability issues . 

[i-s]

5 minutes ago, Dealkent said:

I think everyone is thinking about a Tesla ! , but , they are expensive and there are reliability issues . 

Expensive? Not really - my SR+ was almost bang on the same price as an equivalently specified BMW 330i, Jaguar XE 25t or Merc C300, all of which are slower, FAR more expensive to run and will depreciate significantly faster. 

Reliability? Hmmmm. https://www.whatcar.com/news/2019-what-car-reliability-survey-electric-and-hybrid-cars/n20068 

[ColinBarber]

5 hours ago, i-s said:

Expensive? 
Reliability? 

Dealkent was referring to Tesla, not Lexus.

[ganzoom]

On 9/20/2019 at 11:34 AM, Dealkent said:

I think everyone is thinking about a Tesla ! , but , they are expensive and there are reliability issues . 

The expensive it's an issue compared to a Lexus especially the Model 3, but reliability is something non Japanese companies just don't seem to be able to do. 

Our Tesla is now sitting in Birmingham waiting for new suspension parts, its the 2nd car I have ever owned to have a proper mechanical breakdown by the side of the road, the other been a BMW, where as am currently in my dads 10 year old Mazda which barely gets a service every 2-3 years and yet started first time after sitting idle for about 4 weeks. 

If Lexus did an EV it wold be a no brainer replacement for our IS300H, hopefully in a few years time when we are ready to chop in the IS300H we'll be able to swap it for a IS-EV :).

[Dealkent]

On 9/23/2019 at 6:59 PM, ganzoom said:

The expensive it's an issue compared to a Lexus especially the Model 3, but reliability is something non Japanese companies just don't seem to be able to do. 

Our Tesla is now sitting in Birmingham waiting for new suspension parts, its the 2nd car I have ever owned to have a proper mechanical breakdown by the side of the road, the other been a BMW, where as am currently in my dads 10 year old Mazda which barely gets a service every 2-3 years and yet started first time after sitting idle for about 4 weeks. 

If Lexus did an EV it wold be a no brainer replacement for our IS300H, hopefully in a few years time when we are ready to chop in the IS300H we'll be able to swap it for a IS-EV :).

BMWs are not reliable cars any more , not for a long time . We have a 96 Nissan Micra , British made , ( daily runaround) it goes through the MOT every year and starts up first time when covered in snow ! 

[ganzoom]

The Tesla is back, only took one day to repair, and Tesla delivered it back to my house so actually no time lost for me interms of work etc to go and pick up the car.

On the point of depreciation it really depends how you look at the figures.

The Tesla is 2 years old and done 28k, its lost about £20k based on price I paid and trade in value, so that's about 71p per mile in depreciation.

For the last few days I've been using my dads 10 year old base spec Mazda 6 petrol, it was only £16k new so you would expect minimal cost per mile versus a £70k+ EV??

But because my parents live in London in 10 years the car has only done 19k. The Mazda is now worth £2k, so thats work out as 73p per mile in depreciation.....and on the extra fuel/servicing cost the the Mazda my parents have paid more per mile to run their Mazda than we have our Tesla!!

 

[i-s]

But what would an equivalent vehicle to your X have cost? A 2017 Range Rover Sport that cost around £80k new (Dynamic HSE SDV6) with 17000 miles on is now selling for just over £40k, so closer to £2 per mile over similar period/distance to your X. Plus a not insignificant amount of diesel!

All mass produced cars depreciate until reaching some sort of cult or classic status (which even humble escorts and astras will). However, I think over the next few years we are going to see the diesel backlash continue and that will buoy the values of cars like the IS300h and GS300h compared to their competition. The current supply/demand situation on EVs means that I think residuals for EVs are going to be uncharted territory, but surprisingly strong over the next few years, even for relatively modest cars (because more and more people will wake up to wanting a Leaf/Zoe/Soul/etc as a second car to begin with, then once the bug bites they'll want another EV for main car which will hold values for e-Niro, I-pace, e-tron, EQC and Teslas). 

[royoftherovers]

I bought my Merc Estate for 15k with 60,000 on the clock 19 years ago..

It now has 243,000 on the clock, and would fetch £1500 so in depreciation terms it has cost 14p per mile. (subject to audit)

The subject of depreciation in terms of cost per miles never crosses my mind. Whatever floats one`s boat

It has cost over the years more in repairs than I would have wanted.

My Lexus has cost nowt in repairs over 6 years and a lot in terms of depreciation.

I just love driving either car. It costs whatever it costs if I choose to keep them.

[cadman2k]

Just re-igniting this topic again. 

PCP again.... 

A used UX Takumi (and others that are worse) 

https://usedcars.lexus.co.uk/en/used-lexus/Lexus/UX/250h-20-Takumi-5dr-CVT-jjch4vy#vfinance

£34310 on the road

2 years at 10000 mile a year. GFV of £18,381.25

Payment £802 x 23...total £18,446

Works out seriously expensive car to drive over a short period of time.

Where is the customer base? 

In checking other hybrids, seems the residuals are predicted to be not so strong and wonder if this finance model is based on a forecast that pure EV will be in greater demand or perhaps its something else. 

 

[Phil xxkr]

7 hours ago, cadman2k said:

Just re-igniting this topic again. 

PCP again.... 

A used UX Takumi (and others that are worse) 

https://usedcars.lexus.co.uk/en/used-lexus/Lexus/UX/250h-20-Takumi-5dr-CVT-jjch4vy#vfinance

£34310 on the road

2 years at 10000 mile a year. GFV of £18,381.25

Payment £802 x 23...total £18,446

Works out seriously expensive car to drive over a short period of time.

Where is the customer base? 

In checking other hybrids, seems the residuals are predicted to be not so strong and wonder if this finance model is based on a forecast that pure EV will be in greater demand or perhaps its something else. 

 

Why wouldn't you get a brand new one over 3 years for considerably less? GFV is just that, a guarantee, not what it might actually sell for. 

[rayaans]

8 hours ago, cadman2k said:

Just re-igniting this topic again. 

PCP again.... 

A used UX Takumi (and others that are worse) 

https://usedcars.lexus.co.uk/en/used-lexus/Lexus/UX/250h-20-Takumi-5dr-CVT-jjch4vy#vfinance

£34310 on the road

2 years at 10000 mile a year. GFV of £18,381.25

Payment £802 x 23...total £18,446

Works out seriously expensive car to drive over a short period of time.

Where is the customer base? 

In checking other hybrids, seems the residuals are predicted to be not so strong and wonder if this finance model is based on a forecast that pure EV will be in greater demand or perhaps its something else. 

 

Gfv doesn't mean anything. It's almost guaranteed to be much higher than that at 3 years of age 

They said my RX gfv would have been 23k at 3 years. I could sell it to wbac for £28k after nearly 6

[ganzoom]

8 hours ago, rayaans said:

Gfv doesn't mean anything. It's almost guaranteed to be much higher than that at 3 years of age 

They said my RX gfv would have been 23k at 3 years. I could sell it to wbac for £28k after nearly 6

Just thought I check the WBAC our IS300H as it comes up to been nearly 7 years old......£16k, so essentially 47% value of what we paid brand new for it back in 2015. 

If you car keeping any car longterm paying/buying on PCP makes little sense. The depreciation on the IS300H at 7 years is going to work out at roughly £200/month. 

[rayaans]

15 minutes ago, ganzoom said:

Just thought I check the WBAC our IS300H as it comes up to been nearly 7 years old......£16k, so essentially 47% value of what we paid brand new for it back in 2015. 

If you car keeping any car longterm paying/buying on PCP makes little sense. The depreciation on the IS300H at 7 years is going to work out at roughly £200/month. 

Yep agree completely.

Same thing with the RX it's working out almost £350 a month which is pennies for a big suv 

[Mossypossy]

Not pennies to many.

Happy with a grand a year depreciation MAX.

[Steve44]

Now is currently a poor time to buy a car. New ones have lower discounts and lack of availability, used are at top money due to lack of availability. Global Chip shortage and COVID factors. It is a great time to sell a car though!

The UX featured doesn’t seem too bad to me,  though I’m not sure who would buy a £30k car on pcp finance over 24 mths, ( not me) there are better cars or better ways to buy. A new one would be more costly on the same term per month. This used one is £10k saving on a new one, so if thats what you want, why not? If you need a UX and you have £800/mth with nothing to do with it but no capital to put down a deposit then who is anyone to say that is wrong. Possibly unwise though.
 

Any way you look at it, a car is nearly never a good financial investment,  it depends on your viewpoint and requirements, any car can be justified one way or the other.

[Spacewagon52]

Cars, unless they are certain classics, only depreciate in value. At the end of the day it is a balance between what you can afford vs what you are prepared to accept. To some a new car is a must, to others a 10 year old Lexus is still pure luxury without the high initial cost. Horses for courses, yes there is no "right" answer - it is down to the individual.