Petrol Cars - Depreciation going forwards

[b80]

Hi,

Crystal ball time chaps!

I'm thinking of buying a high performance petrol car. When I look at the used prices of nearly new model I'm interested in it almost makes sense to buy new, as the 1 year old used prices are only a 2/3 grand cheaper. You know the history and how it's been looked after etc.

One thing that bugs me is the thought of spending 30 odd k on something that may get taxed to death or phased out in a few years,so will be worthless. I know a car is a depreciating asset and I can handle the usual historical depreciation, but the idea of buying something for 30k potentially being worth 5k in 5 years concerns me. I've always kept cars for a long time, so envisage owning this one for 10 years + if possible.

What are your thoughts on the future of petrol car values and emissions laws?

Thanks

[anonymous-user]

My thoughts are it’s mostly overblown overhyped nonsense.

Diesel on the other hand....

[dunc69]

Petrol cars will surely be around for longer than the hype suggests.

It’s new cars that must fit in with the govt’s timetables.

How quickly your car depreciates will depend, to a point, on what it is that you buy.

If you can afford £30k, enjoy it!!

[HTP99]

dunc69 said:

If you can afford £30k, enjoy it!!

And you plan to own it for 10 + years so what's the issue!

[loskie]

The term "going forwards".
I hear this often at work, it's most annoying. Just management wk speak.

[SidewaysSi]

loskie said:

The term "going forwards".
I hear this often at work, it's most annoying. Just management wk speak.

True but with a bit of blue sky thinking, he should be able to get to a ball park depreciation figure.

What do you think?

[loskie]

sooooo let me throw that back at you.

[RobDickinson]

5 years time a (5 year old) petrol car will have to be very special for people to pay much for.

You are talking about 2024, just the cost of taxing and fueling it will put off just about everyone.

[iphonedyou]

RobDickinson said:

5 years time a (5 year old) petrol car will have to be very special for people to pay much for.

You are talking about 2024, just the cost of taxing and fueling it will put off just about everyone.

The cost of taxing and fuelling a five year old petrol car will not put off 'just about everyone' in 2024.

The statement is absurd; little wonder EV evangelists are treated with such derision at times.

[RobDickinson]

It's already impacting used sales.

People will pay less for a car that will cost them thousands more a year to run.

By 2024 there will be a sizable supply of used evs in the market.

Having anything mundane not electrified for sale you will suffer.

[thebraketester]

What car are we talking About?

[Mike335i]

RobDickinson said:

It's already impacting used sales.

People will pay less for a car that will cost them thousands more a year to run.

By 2024 there will be a sizable supply of used evs in the market.

Having anything mundane not electrified for sale you will suffer.

Not really though, not in 5 years. The used EVs on the market in 5 years will still be more expensive than petrol equivalents or be valueless as the batteries are knackered and too expensive to replace. That is before you get to the fact that they still won't be as practical as the petrol or diesel powered model.

Petrol (thankfully) isn't going to disappear soon and they won't be able to price it off the roads yet.

In 5 years time, a brand new EV might be more viable, but not for those that would normally buy a used car.

[Welshbeef]

Would an M3/C63/Ras4 still be appealing say a 16 reg come 2024.

[Weekendrebuild]

What a load of crap, usual rubbish being spouted as fact . Let’s be honest in the uk we accomplish very little in 20 years let alone 4

[Welshbeef]

Weekendrebuild said:

What a load of crap, usual rubbish being spouted as fact . Let’s be honest in the uk we accomplish very little in 20 years let alone 4

The amount of Tesla’s I see on the road in the SE is surprising especially the Model 3 twin charger loads of em. The new Gold ID3 or that range should see a sweeping change.
Likewise Merc selling only EV or PHEV from 2021(?) will quickly flow down. Imagine 2031 there will still be plenty of Merc pre 2021 on the road but the switch over will be happening so quickly.

[DoubleD]

RobDickinson said:

5 years time a (5 year old) petrol car will have to be very special for people to pay much for.

You are talking about 2024, just the cost of taxing and fueling it will put off just about everyone.

No it won't.

[RobDickinson]

Weekendrebuild said:

What a load of crap, usual rubbish being spouted as fact . Let’s be honest in the uk we accomplish very little in 20 years let alone 4

The changeover to diesel took about 7 years. anyhow, its your cash.

[Dave Hedgehog]

Welshbeef said:

Would an M3/C63/Ras4 still be appealing say a 16 reg come 2024.

I can see the manual V8 versions becoming incredibly collectible, especially when there are no more V8s being sold

[Jamescrs]

Dave Hedgehog said:

I can see the manual V8 versions becoming incredibly collectible, especially when there are no more V8s being sold

I agree with your point regarding V8's. I've been looking myself with a view to buying one either late next year or early the year after, current favourite is the E92 M3 but strangely tempted also by the Vauxhall Monaro VXR8, a little left field but I don't remember when I last saw one on the road.

[b80]

thebraketester said:

What car are we talking About?

Golf R