Depreciation

J

John Cat

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We all know that as soon as you drive a new car off the forecourt it generally loses value as it becomes secondhand (or ex demo perhaps). Many EVs are considerably cheaper after a year than they were when new. But v low mile First Edition ORAs as now under £20k on Autotrader with minimal miles on the clock. A whole raft of them in fact. That's a big drop. Any thoughts? Yes you can get a low mileage MG4 SE for slightly less but that car started at c. £25/26k...

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John Cat said:
We all know that as soon as you drive a new car off the forecourt it generally loses value as it becomes secondhand (or ex demo perhaps). Many EVs are considerably cheaper after a year than they were when new. But v low mile First Edition ORAs as now under £20k on Autotrader with minimal miles on the clock. A whole raft of them in fact. That's a big drop. Any thoughts? Yes you can get a low mileage MG4 SE for slightly less but that car started at c. £25/26k...

Auto Trader UK - New and Used Cars For Sale

Find your next car with Auto Trader UK, the official #1 site to buy and sell new and used cars. Over 400,000 cars online. Simple, easy, quick!
www.autotrader.co.uk www.autotrader.co.uk
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There is a YouTube programme on this subject:
 
Very informative. It seems that (at the moment) you wait a year and get a real bargain if you are looking to pay cash. So I'm on the lookout for a longer range car than the 48KW ORA. Be interesting to see what happens to the new long range ORA (with some extra toys). The extra range (and the extra toys) make the longer range ORA much more interesting (to me) but the 'as new' price pitches it against some solid competition. But maybe after a year.......
 
electrondog85 said:
I would imagine there's a lot of demonstrator 22/23 plates coming through hence the low mileage.
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Interestingly all the ORAs I see on Autotrader are being sold by dealers. I watched a review a while back and they said they couldn't see many people having buyer's remose on the Cat. I know one or two people on here are very unhappy with the car but it seems most people are sticking with it and waiting for the early sales models to have the bugs sorted out. After all the ORA is not the only EV with software issues from new (ask any VW id3 owner).
 
John Cat said:
Interestingly all the ORAs I see on Autotrader are being sold by dealers. I watched a review a while back and they said they couldn't see many people having buyer's remose on the Cat. I know one or two people on here are very unhappy with the car but it seems most people are sticking with it and waiting for the early sales models to have the bugs sorted out. After all the ORA is not the only EV with software issues from new (ask any VW id3 owner).
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I can only speak from my point of view, but when we went to view a brand new car from a new brand (okay I admit GWM isn't new but the concept of EV's and a wholly electric model is) I knew full well there would be the odd issue and fully accepted it. The car is quirky but having had citroens in a past life its built far far better and I literally fell in love with its oddities. Yes don't get me wrong the whole CarPlay thing is annoying but in the long run it wouldn't stop me having the car, fingers crossed it comes through soon!

Back to the topic I think the lack of battery lease option has done Ora a lot of good in depreciation values.
 
electrondog85 said:
I can only speak from my point of view, but when we went to view a brand new car from a new brand (okay I admit GWM isn't new but the concept of EV's and a wholly electric model is) I knew full well there would be the odd issue and fully accepted it. The car is quirky but having had citroens in a past life its built far far better and I literally fell in love with its oddities. Yes don't get me wrong the whole CarPlay thing is annoying but in the long run it wouldn't stop me having the car, fingers crossed it comes through soon!

Back to the topic I think the lack of battery lease option has done Ora a lot of good in depreciation values.
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Yes the whole battery lease thing was strange. The original Zoe (and Twizy had both). I reserached the Zoe and the battery lease was something like £75 a month (plus electricity) and my mild hybrid was costing me about £25/30 a month in petrol so it made no sense for me (aside from the ecological one).

I've never owned a Citroen so can't comment on build quality. I have seen the ORA in the flesh and the quality looks good - I particularly like the interior. It makes the MG4 interior look embarassingly bland and cheap. And the VW id3...

All software issues can be sorted. It just depends how quickly the manufacturers act....
 

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