Those electric lease cars are true depreciation cannons.
The leasing market and the private market are two very different things in the Netherlands. Lease drivers drive electric en masse, but who as a private individual is going to spend 70k on an EV…? So there may be a mismatch between what comes out of the lease and what people want (these are the words of a wise man named @Wouter).
We know that this mismatch exists thanks to the residual value gurus at Autotelex. They are on top of it and note in their latest market update that there has been “a fairly sharp fall in trade values, especially of ex-lease cars.”
Ex-lease containers, which are of course mainly electric cars. Autotelex concluded last year that the residual value of EVs is not very good. This mainly concerns the more expensive EVs. These were still interesting in the addition, but private individuals are not keen on them. Ergo, a lot of depreciation.
Autotelex mentions the following as examples of depreciation guns Tesla Model S and the Jaguar I-Pace. Now Jaguars are always depreciation cannons, but that's besides the point. These are expensive cars that cost more than 80 grand new.
If you're thinking, 'These second-hand cars aren't that cheap, are they?': the aforementioned sharp fall has yet to be reflected in the asking prices on the internet. According to the residual value experts, you can expect asking prices to drop in January.
So if you (just like colleague @nicolasr) want to buy a great second-hand EV: just wait a little longer and then you can score a good deal. Although you never know how much further the car will depreciate…
Are you curious about Wouter's interpretation? This topic is also discussed in the latest podcast episode of the BNR National Auto Show. So please listen to it again.
Source: Autotelex
Photo: Tesla Model S combo, spotted by @dubcars
This article Ex-lease containers depreciate like a brick first appeared on Autoblog.nl.
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