Model 3 standard range currently 1+23 personal lease £295/mth @ 8k miles/year.
Phat subsidy from Tesla to shift metal.
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Having just priced my 16 month old MG5 I'm thinking that leasing may be the way to go if I ever change wheels again. Depreciation is fairly steep (as it is for most new cars) in the first year.
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How much discount was on your MG when you bought it? Was looking at the MG3 and ZS trophy plus with my friend and there were huge discounts for basically brand new vehicles. And of course there is the Affinity scheme as well.
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Have seen videos online comparing leases to PCP costs for the new Chinese vehicles and it’s almost always cheaper to lease.
But that is based on you knowing upfront that you have no intentions of keeping the car at the end of the deal. At least PCP leaves some scope for flexibility. Your cat may be worth more if you haven’t done the expected mileage. A friend might want to buy it off you etc etc
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>> the car at the end of the deal. At least PCP leaves some scope for
>> flexibility. Your cat may be worth more if you haven’t done the expected mileage. A
>> friend might want to buy it off you etc etc
Dream on, depreciation for most EVs is appaling, and the second user market dire. Want an EV? lease it.
Except Teslas.
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Yes I'm slowly reaching that conclusion. Wouldn't put me off an EV though
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>> Dream on, depreciation for most EVs is appaling, and the second user market dire. Want
>> an EV? lease it.
Or buy a four year old car.
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>> Or buy a four year old car.
No, its longebity and reliability is far from proven.
Unless its a tesla.
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I plan to keep mine until either I or the car packs up for good or I am unfit to drive. So far after three and a half years and 31,000 miles have had absolutely no reliability costs or repairs other than new tyres and a rear wiper blade.
We don’t worry about the depreciation of the fridge or the sofa do we?
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>> We don’t worry about the depreciation of the fridge or the sofa do we?
But we don't have a market to trade in the fridge or sofa for a new one every 2-3 years.
If you run a car until it goes bang or no longer meets changing needs but keep it for 8+ years depreciation isn't an issue.
I wonder what a two year old sofa would fetch at a house clearance type auction.
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>> We don’t worry about the depreciation of the fridge or the sofa do we?
No but we worry about a 10 to 18k bill
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Sorry I meant the Chinese Plug in hybrids, not the pure EVs. My apologies.
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I think around 30% discount. List was something over £30k and I think I paid about £21k. It's a 74 plate and only 16 months old I think and recent Motorway valuation was £14.1k so massive depreciation against list but not so bad against what I paid!
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Actually approx 30% for first year depreciation isn't that unusual for any cars according to AI.
I guess the answer is buy a year or two old car, however it's fuelled.
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Both leasing and PCP are mechanisms for shifting metal without having to publicly offer discounts on the list price. If you start at a 25% discount from list as being the true value of what is sitting in the showrooms, the calculations are somewhat different.
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I suppose the best part of four grand a year to rent a mundane car might make sense for a high miler, but not for us at c.6k miles a year. Our runabout, a top-of-the-range 2019 Peugeot 2008, brand new cost £17k just over 77 months ago (the most we've ever spent on a car); that's a now ever decreasing £220 a month....and we still own a perfectly good car which I expect to last at least as long as its predecessor did (Focus Est, 21yrs).
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Although, based on the current price of fuel and assuming 45mpg the Tesla driver is going to save 14p a mile over a petrol car (because at 6,000 miles year it’s also it certain all charging will be at home), which is around £75 a month. So, for £295 a month you can either run a 6 or 7 year old Peugeot or a brand new, bigger, Tesla and effectively spend the same :)
Having said that, I found the Model 3 very disappointing in my 24 months of ownership. Deeply impressive in some respects, but not very good at being a car. The ride was fidgety and the handling uninspiring, the auto lights didn’t work well, the auto wipers were appalling, the parking sensors / self parking was woeful and it didn’t have matrix headlights. Most of these things have, I think, been addressed in the facelift, and for a cheap family car it’s probably still unbeatable. But if you like driving the pre facelift car was, for me, dull!
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>>.......So, for £295 a month you can either run a 6 or 7 year
>> old Peugeot or a brand new, bigger, Tesla and effectively spend the same :)
The thing is, my man maths tells me that the £220 pcm since we bought it has written off the initial £17k, so we are now running it for nothing ;)
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>> a top-of-the-range 2019 Peugeot 2008, brand new cost £17k just over 77
>> months ago
Fortunate timing, just pre-Covid. If you were starting now, the car would be much more expensive.
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or a model X for £20K
www.youtube.com/watch?v=3-aBWAKllno
www.mathewsons.co.uk/auction/lot/lot-250---2017-tesla-model-x-90d/?lot=42350&so=0&st=&sto=0&au=94&ef=&et=&ic=False&sd=1&pp=96&pn=2&g=1
with many extras: tow bar, enhanced sound system and electric opening bonnet. Also has upgraded computer & cameras and CCS fast charging.
So not a basic spec. I was as not aware of such a sound system. View it to see it!
A real show car.
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>> or a model X for £20K
>>
>> www.youtube.com/watch?v=3-aBWAKllno
>>
>>
>> with many extras: tow bar, enhanced sound system and electric opening bonnet. Also has upgraded
>> computer & cameras and CCS fast charging.
>>
>> So not a basic spec. I was as not aware of such a sound system.
Do all those extras still work or does the new owner have to pay a subscription to activate them? Obviously the tow bar will but what about the others?
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Tesla - Model 3 PCH £295 - smokie
