Buying a used Taycan
Discussion
PinkHouse said:
Murph7355 said:
tomvcarter said:
Yeah, im working off this. A new car list £140k, discounted nby £30k, is only valued at £50k in 48 months...
Or a 6-figure fast estate loses 55% in 4yrs. Which in reality isn't horrific. £110k with a residual is 55%.
Let's forget Covid with many getting free money thrown at them, and go back to pre 2020.
My Mercedes C32 lost that, the C63 the same, the E63 lost even more.
I remember testing a then 3 year old Audi S6 V10 at Audi in Peterborough which was up at 26k, that listed for £63,000 new. It was an absolute bargain, just one problem, it was horrible to drive.
The thing that is still skewing used figures on used ICE car values is this might be the last time you can buy one. But I would say that EVs are just where big expensive ICE cars were 10-15 years ago, before we realised they might be in limited supply. They just became older tech, people wanted the newer version, with more power, better handling, often much better economy, and because of that they lost shed loads.
Nothing really changes, we just forget.
The big difference now is entry prices, the S204 C63 was £49k after some discount, over the 4 years and 60k miles it lost just under £27k, trade in was £22k. £550 a month roughly.
Now you are looking at over double that, and I think people are questioning the value in that? £1150 if you use cash. Finance that and you will need to add £500 a month to it.
Still 55% loss, but £550 a month vs £1600 a month is huge. Now I know that is a Merc C63 vs a Porsche, but the new C63 estate is £100k and that is a bloody 2 litre 4 cyl FFS! (I had to double check that was right, 4cyl, but it is. Haha)
Mercedes quoting £1400 a month for that with 17% minimum deposit.
We have gone from a world where we use finance to help buy a car, to using finance to rent a car, to where car prices have gone through the roof because cheap finance means every one just rents, to now finance being expensive again but car prices still high and can't really come down.
I guess we will just see fewer people own cars like Porsches again, like it used to be. You're going to have to have some serious disposable income to own one, again, like it used to be.
I started to get into cars as a teenager, in the 80's, we lived in a pretty affluent neighbourhood, and Mercedes and BMWs were rare things, I reckon 2 maybe 3 people had a Porsche. Drive round there today and I would guess 90% of driveways have a BMW, Merc, Audi or Porsche on it. A fair few much higher end, more exotic cars are sat on drives. Many of these houses are just 3 or 4 bed detached homes too, not mansions or anything.
Not many people can say "I want that C63/M3/Taycan/whatever and I'm fine if the first £30,000 of my wage each year goes on the rental costs for it."
Or maybe I'm just out of touch? I just don't earn anywhere near enough these days to even consider it.
Edited by Ed.Neumann on Thursday 21st March 15:05
Ed.Neumann said:
Isn't it?
£110k with a residual is 55%.
Let's forget Covid with many getting free money thrown at them, and go back to pre 2020.
My Mercedes C32 lost that, the C63 the same, the E63 lost even more.
I remember testing a then 3 year old Audi S6 V10 at Audi in Peterborough which was up at 26k, that listed for £63,000 new. It was an absolute bargain, just one problem, it was horrible to drive.
The thing that is still skewing used figures on used ICE car values is this might be the last time you can buy one. But I would say that EVs are just where big expensive ICE cars were 10-15 years ago, before we realised they might be in limited supply. They just became older tech, people wanted the newer version, with more power, better handling, often much better economy, and because of that they lost shed loads.
Nothing really changes, we just forget.
The big difference now is entry prices, the S204 C63 was £49k after some discount, over the 4 years and 60k miles it lost just under £27k, trade in was £22k. £550 a month roughly.
Now you are looking at over double that, and I think people are questioning the value in that? £1150 if you use cash. Finance that and you will need to add £500 a month to it.
Still 55% loss, but £550 a month vs £1600 a month is huge. Now I know that is a Merc C63 vs a Porsche, but the new C63 estate is £100k and that is a bloody 2 litre 4 cyl FFS! (I had to double check that was right, 4cyl, but it is. Haha)
Mercedes quoting £1400 a month for that with 17% minimum deposit.
We have gone from a world where we use finance to help buy a car, to using finance to rent a car, to where car prices have gone through the roof because cheap finance means every one just rents, to now finance being expensive again but car prices still high and can't really come down.
I guess we will just see fewer people own cars like Porsches again, like it used to be. You're going to have to have some serious disposable income to own one, again, like it used to be.
I started to get into cars as a teenager, in the 80's, we lived in a pretty affluent neighbourhood, and Mercedes and BMWs were rare things, I reckon 2 maybe 3 people had a Porsche. Drive round there today and I would guess 90% of driveways have a BMW, Merc, Audi or Porsche on it. A fair few much higher end, more exotic cars are sat on drives. Many of these houses are just 3 or 4 bed detached homes too, not mansions or anything.
Not many people can say "I want that C63/M3/Taycan/whatever and I'm fine if the first £30,000 of my wage each year goes on the rental costs for it."
Or maybe I'm just out of touch? I just don't earn anywhere near enough these days to even consider it.
Brilliant post, spot on. Back in 1978 my dad had a very basic Merc E Class saloon, 250E I think. At the time, rare as hens teeth. And anyone with an SL or SLC was either mega wealthy or had won the pools. £110k with a residual is 55%.
Let's forget Covid with many getting free money thrown at them, and go back to pre 2020.
My Mercedes C32 lost that, the C63 the same, the E63 lost even more.
I remember testing a then 3 year old Audi S6 V10 at Audi in Peterborough which was up at 26k, that listed for £63,000 new. It was an absolute bargain, just one problem, it was horrible to drive.
The thing that is still skewing used figures on used ICE car values is this might be the last time you can buy one. But I would say that EVs are just where big expensive ICE cars were 10-15 years ago, before we realised they might be in limited supply. They just became older tech, people wanted the newer version, with more power, better handling, often much better economy, and because of that they lost shed loads.
Nothing really changes, we just forget.
The big difference now is entry prices, the S204 C63 was £49k after some discount, over the 4 years and 60k miles it lost just under £27k, trade in was £22k. £550 a month roughly.
Now you are looking at over double that, and I think people are questioning the value in that? £1150 if you use cash. Finance that and you will need to add £500 a month to it.
Still 55% loss, but £550 a month vs £1600 a month is huge. Now I know that is a Merc C63 vs a Porsche, but the new C63 estate is £100k and that is a bloody 2 litre 4 cyl FFS! (I had to double check that was right, 4cyl, but it is. Haha)
Mercedes quoting £1400 a month for that with 17% minimum deposit.
We have gone from a world where we use finance to help buy a car, to using finance to rent a car, to where car prices have gone through the roof because cheap finance means every one just rents, to now finance being expensive again but car prices still high and can't really come down.
I guess we will just see fewer people own cars like Porsches again, like it used to be. You're going to have to have some serious disposable income to own one, again, like it used to be.
I started to get into cars as a teenager, in the 80's, we lived in a pretty affluent neighbourhood, and Mercedes and BMWs were rare things, I reckon 2 maybe 3 people had a Porsche. Drive round there today and I would guess 90% of driveways have a BMW, Merc, Audi or Porsche on it. A fair few much higher end, more exotic cars are sat on drives. Many of these houses are just 3 or 4 bed detached homes too, not mansions or anything.
Not many people can say "I want that C63/M3/Taycan/whatever and I'm fine if the first £30,000 of my wage each year goes on the rental costs for it."
Or maybe I'm just out of touch? I just don't earn anywhere near enough these days to even consider it.
CallMeLegend said:
tomvcarter said:
I hope so......at that point, I'm inNo where to charge the thing, but at that price I will find somewhere.
Ed.Neumann said:
PinkHouse said:
Murph7355 said:
tomvcarter said:
Yeah, im working off this. A new car list £140k, discounted nby £30k, is only valued at £50k in 48 months...
Or a 6-figure fast estate loses 55% in 4yrs. Which in reality isn't horrific. £110k with a residual is 55%.
Let's forget Covid with many getting free money thrown at them, and go back to pre 2020.
My Mercedes C32 lost that, the C63 the same, the E63 lost even more.
I remember testing a then 3 year old Audi S6 V10 at Audi in Peterborough which was up at 26k, that listed for £63,000 new. It was an absolute bargain, just one problem, it was horrible to drive.
The thing that is still skewing used figures on used ICE car values is this might be the last time you can buy one. But I would say that EVs are just where big expensive ICE cars were 10-15 years ago, before we realised they might be in limited supply. They just became older tech, people wanted the newer version, with more power, better handling, often much better economy, and because of that they lost shed loads.
Nothing really changes, we just forget.
The big difference now is entry prices, the S204 C63 was £49k after some discount, over the 4 years and 60k miles it lost just under £27k, trade in was £22k. £550 a month roughly.
Now you are looking at over double that, and I think people are questioning the value in that? £1150 if you use cash. Finance that and you will need to add £500 a month to it.
Still 55% loss, but £550 a month vs £1600 a month is huge. Now I know that is a Merc C63 vs a Porsche, but the new C63 estate is £100k and that is a bloody 2 litre 4 cyl FFS! (I had to double check that was right, 4cyl, but it is. Haha)
Mercedes quoting £1400 a month for that with 17% minimum deposit.
We have gone from a world where we use finance to help buy a car, to using finance to rent a car, to where car prices have gone through the roof because cheap finance means every one just rents, to now finance being expensive again but car prices still high and can't really come down.
I guess we will just see fewer people own cars like Porsches again, like it used to be. You're going to have to have some serious disposable income to own one, again, like it used to be.
I started to get into cars as a teenager, in the 80's, we lived in a pretty affluent neighbourhood, and Mercedes and BMWs were rare things, I reckon 2 maybe 3 people had a Porsche. Drive round there today and I would guess 90% of driveways have a BMW, Merc, Audi or Porsche on it. A fair few much higher end, more exotic cars are sat on drives. Many of these houses are just 3 or 4 bed detached homes too, not mansions or anything.
Not many people can say "I want that C63/M3/Taycan/whatever and I'm fine if the first £30,000 of my wage each year goes on the rental costs for it."
Or maybe I'm just out of touch? I just don't earn anywhere near enough these days to even consider it.
Edited by Ed.Neumann on Thursday 21st March 15:05
My old man had a green marina coupe around 1978.
The only nice car I recall seeing in the flesh until about 1988 was our neighbour's V12 e-type. He used to have his own cement wagon (which was also pretty cool
). I have been looking at used Taycans recently and do not understand the catch, if someone can help please?
Buy pre approved from Porsche with 24months warranty on a 2 year PCP deal (because nobody wants to own one when the batteries go kaput).
You are covered should anything serious happen with Porsche warranty and you just hand it back after 2 years and take the hit/ gain on your GFV difference to real world value?
They look to be starting at circa £55k(!!) for a 30k miles, 1 owner examples which just seems too good to be true.
Buy pre approved from Porsche with 24months warranty on a 2 year PCP deal (because nobody wants to own one when the batteries go kaput).
You are covered should anything serious happen with Porsche warranty and you just hand it back after 2 years and take the hit/ gain on your GFV difference to real world value?
They look to be starting at circa £55k(!!) for a 30k miles, 1 owner examples which just seems too good to be true.
I was thinking the same!
I know nothing about the various specs but liked the look of this.
https://finder.porsche.com/gb/en-GB/details/porsch...
Only trouble is that I like my EQC to much to stomach the loss over the last year.
I know nothing about the various specs but liked the look of this.
https://finder.porsche.com/gb/en-GB/details/porsch...
Only trouble is that I like my EQC to much to stomach the loss over the last year.
Abc321 said:
I have been looking at used Taycans recently and do not understand the catch, if someone can help please?
Buy pre approved from Porsche with 24months warranty on a 2 year PCP deal (because nobody wants to own one when the batteries go kaput).
You are covered should anything serious happen with Porsche warranty and you just hand it back after 2 years and take the hit/ gain on your GFV difference to real world value?
They look to be starting at circa £55k(!!) for a 30k miles, 1 owner examples which just seems too good to be true.
I think going in with your expectation is exactly right. Why not enjoy and then reassess in 2 years. You’ll know what the worst case scenario is. Buy pre approved from Porsche with 24months warranty on a 2 year PCP deal (because nobody wants to own one when the batteries go kaput).
You are covered should anything serious happen with Porsche warranty and you just hand it back after 2 years and take the hit/ gain on your GFV difference to real world value?
They look to be starting at circa £55k(!!) for a 30k miles, 1 owner examples which just seems too good to be true.
I bought mine new for 98K so I may have lost 50K, but it’s a company car so more like 25K. Also no road tax and charge at home so cheap. Battery seems fine. I’ve renewed the warranty for another 2 years for 2K. None of the other EVs out there have interested me so far.
Edited by Grantstown on Thursday 9th May 20:48
Grantstown said:
Abc321 said:
I have been looking at used Taycans recently and do not understand the catch, if someone can help please?
Buy pre approved from Porsche with 24months warranty on a 2 year PCP deal (because nobody wants to own one when the batteries go kaput).
You are covered should anything serious happen with Porsche warranty and you just hand it back after 2 years and take the hit/ gain on your GFV difference to real world value?
They look to be starting at circa £55k(!!) for a 30k miles, 1 owner examples which just seems too good to be true.
I think going in with your expectation is exactly right. Why not enjoy and then reassess in 2 years. You’ll know what the worst case scenario is. Buy pre approved from Porsche with 24months warranty on a 2 year PCP deal (because nobody wants to own one when the batteries go kaput).
You are covered should anything serious happen with Porsche warranty and you just hand it back after 2 years and take the hit/ gain on your GFV difference to real world value?
They look to be starting at circa £55k(!!) for a 30k miles, 1 owner examples which just seems too good to be true.
I bought mine new for 98K so I may have lost 50K, but it’s a company car so more like 25K. Also no road tax and charge at home so cheap. Battery seems fine. I’ve renewed the warranty for another 2 years for 2K. None of the other EVs out there have interested me so far.
Edited by Grantstown on Thursday 9th May 20:48
Also like that blue one. There’s a cherry red one for 56 which looks well specced.
Abc321 said:
Interesting that renewal for 2 years is £2k. Agree with previous poster in that a thorough read of the warranty is needed with it.
Also like that blue one. There’s a cherry red one for 56 which looks well specced.
Warranty's as good as they come with new - extend it before the old expires and you avoid the inspection fees.Also like that blue one. There’s a cherry red one for 56 which looks well specced.
The "catch" is what PCP terms you're being offered...
Edited by Murph7355 on Saturday 11th May 13:15
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