The Car Thread

[Tredman]

That's another thing I'm having to consider.

The diesel or PHEV options I'm considering I could get something a couple of years old, finance it myself with a personal loan and combination of car allowance/BIK rebate would cover the cost. So as long as the residual value after 5 years covers what I put down as deposit I'm covered, or if it doesn't I'd probably just run the thing into the ground, reliability allowing, if it doesn't as new employer has no restrictions on vehicle age with the allowance.

If I went EV then something used would mean I'd smash the battery warranty in my term of ownership and put me at a fair financial risk. To go new (PCP) and cover off that issue would be too expensive, bigger deposit that would wipe out my savings and monthly costs would eat up fuel cost savings too leaving little scope to rebuild the savings. Then I'd be left without the ability to make the final payment, if I wanted to, at the end of the term and be tied to that brand for the next swap.

Found it quite interesting that the guy in the dealership was quite cagey around the warranty/residuals issues with the brand new EV. Essentially saying he'd have no idea what that car would be worth 4 years down the line with that sort of mileage as they've just not got the historical data to compare it to yet. Also with the speed at which EV technology is developing who's to say the car isn't looking a bit outdated by that point anyway regardless of mileage/condition.

PCP isn't just available on new.. Plenty of one year old cars with less than 5k on them.

My EV is coming up for 4 years and has lost about half of its initial cost, but as I bought is used most of that is on the previous owner. With PCP there's no need to worry about future value as I can just give it back if its negative.

 

[EpsomWolf]

That's another thing I'm having to consider.

The diesel or PHEV options I'm considering I could get something a couple of years old, finance it myself with a personal loan and combination of car allowance/BIK rebate would cover the cost. So as long as the residual value after 5 years covers what I put down as deposit I'm covered, or if it doesn't I'd probably just run the thing into the ground, reliability allowing, if it doesn't as new employer has no restrictions on vehicle age with the allowance.

If I went EV then something used would mean I'd smash the battery warranty in my term of ownership and put me at a fair financial risk. To go new (PCP) and cover off that issue would be too expensive, bigger deposit that would wipe out my savings and monthly costs would eat up fuel cost savings too leaving little scope to rebuild the savings. Then I'd be left without the ability to make the final payment, if I wanted to, at the end of the term and be tied to that brand for the next swap.

Found it quite interesting that the guy in the dealership was quite cagey around the warranty/residuals issues with the brand new EV. Essentially saying he'd have no idea what that car would be worth 4 years down the line with that sort of mileage as they've just not got the historical data to compare it to yet. Also with the speed at which EV technology is developing who's to say the car isn't looking a bit outdated by that point anyway regardless of mileage/condition.

I figured another 3 years or so before committing to full EV so played safe with a 20 plate petrol that most indicators suggest will have a high residual going forward, not least of which because there isn’t the ticking clock of the battery or warranty issues. Who knows?

A neighbour has just done the same thing with the same motor but opted for diesel. Not sure if that’s brave or stupid but they are representing fantastic value now and residuals are holding up as people capitalise on a bargain. I assumed diesel values would fall off a cliff but there’s a lot of talk the latest cleaner versions will be in big demand on the second hand market as people don’t want to gamble on second hand EV’s.

 

[Tredman]

I don't think it has, there's some big money being ploughed into this, it'll just take time.

Decent article Here

I wonder who landed that article there...

UK has already ditched Hydrogen for domestic purposes, it has a great future for freight etc but as you can already get EVs with 400 miles range and which charge in 15 to 20 mins (and getting faster), using an existing transmission grid, I just don't see anyone investing the required money to distribute and carry Hydrogen safely for small vehicles.

 

[MARKakaJIM]

PCP isn't just available on new.. Plenty of one year old cars with less than 5k on them.

My EV is coming up for 4 years and has lost about half of its initial cost, but as I bought is used most of that is on the previous owner. With PCP there's no need to worry about future value as I can just give it back if its negative.

It's the higher cost of the brand new/nearly new that causes the bigger issue than the residual. The PCP quote I had for an i4 had be paying pretty much the full list price over a 4 year term due to the mileage and then still something like 30% of that list price as a final payment. Highly unlikely I'd be able to stick away enough savings on top of those extra costs to be able to 'go again' 3-4 years down the line.

2-3 years old diesel or PHEV is cheaper monthly on HP or self financed equivalent which would be covered by allowance so any residual above my initial deposit is sort of profit. There's also enough gain in mileage allowance above running costs to replenish savings and potentially upgrade next time around.

 

[MARKakaJIM]

PCP isn't just available on new.. Plenty of one year old cars with less than 5k on them.

My EV is coming up for 4 years and has lost about half of its initial cost, but as I bought is used most of that is on the previous owner. With PCP there's no need to worry about future value as I can just give it back if its negative.

It's the higher cost of the brand new/nearly new that causes the bigger issue than the residual. The PCP quote I had for an i4 had be paying pretty much the full list price over a 4 year term due to the mileage and then still something like 30% of that list price as a final payment. Highly unlikely I'd be able to stick away enough savings on top of those extra costs to be able to 'go again' 3-4 years down the line.

2-3 years old diesel or PHEV is cheaper monthly on HP or self financed equivalent which would be covered by allowance so any residual above my initial deposit is sort of profit. There's also enough gain in mileage allowance above running costs to replenish savings and potentially upgrade next time around.

 

[Kenny]

Well, drive down to MK done. Battery was charged upto 100%.
Got here with 62% left.

Very happy with that.

 

[The Bear]

So 75-80% round trip. Maybe 90% in winter. Should be very doable on a single charge there and back.

 

[Alan]

I wonder who landed that article there...

UK has already ditched Hydrogen for domestic purposes, it has a great future for freight etc but as you can already get EVs with 400 miles range and which charge in 15 to 20 mins (and getting faster), using an existing transmission grid, I just don't see anyone investing the required money to distribute and carry Hydrogen safely for small vehicles.

The problem (at least as it stands) with Hydrogen is that it's simply too reactive. You have to process it with electricity just to get it in a usable state, at which point we're basically back at EVs but with an extra step. Beyond that, the electricity for processing is generated by, you guessed it, fossil fuels.

Gonna take some massive private sector (blegh) investment to get it out into the real world with anything like a significant market share, even in freight, IMO.

Is it Germany that are looking to introduce electric canopies on interstates (or whatever an enormous connecting highway is called over there) for freight trucks to siphon power from mid-journey?

 

[Carrotdude]

The other advantage to EV over PHEV is that there are a lot less things to go wrong - gearbox, clutch etc.

 

[PuntsWolf]

I wonder who landed that article there...

UK has already ditched Hydrogen for domestic purposes, it has a great future for freight etc but as you can already get EVs with 400 miles range and which charge in 15 to 20 mins (and getting faster), using an existing transmission grid, I just don't see anyone investing the required money to distribute and carry Hydrogen safely for small vehicles.

What!? Cadent have just dug up my entire street last week to “facilitate the switch to hydrogen”.

 

[PuntsWolf]

Well, drive down to MK done. Battery was charged upto 100%.
Got here with 62% left.

Very happy with that.

As we’ve got same car, what was miles/kW? And is it the 4WD version?

 

[Tredman]

What!? Cadent have just dug up my entire street last week to “facilitate the switch to hydrogen”.

Ha, lolz. They are just maximising the asset value they can recharge to you. With interest obvs.

UK's First Hydrogen Village Trial Cancelled in Whitby: Next Steps Revealed

Energy Efficiency Minister confirms cancellation of hydrogen trials in Whitby due to lack of local support, but announces ongoing discussions for trials in Redcar and the impact on home heating decisions.

www.edie.net

 

[PuntsWolf]

Ha, lolz. They are just maximising the asset value they can recharge to you. With interest obvs.

UK's First Hydrogen Village Trial Cancelled in Whitby: Next Steps Revealed

Energy Efficiency Minister confirms cancellation of hydrogen trials in Whitby due to lack of local support, but announces ongoing discussions for trials in Redcar and the impact on home heating decisions.

www.edie.net

Who/how/why/when/what are they going to charge me?

 

[Tredman]

Who/how/why/when/what are they going to charge me?

You pay in your bill, everything done to deliver energy to your house has a value. It’s amortised over its asset life and the regulator lets the asset owner layer on an interest charge. This goes into your bill.

It’s a guaranteed rate of return for often 15 to 25 years. It’s why pension funds love our utilities.

 

[Alan]

Who/how/why/when/what are they going to charge me?

Who: Slimy guy in a suit
How: The most annoying way possible
Why: Why not?
When: When you least expect it
What: As much as they can get

 

[Kenny]

As we’ve got same car, what was miles/kW? And is it the 4WD version?

Not 4WD.

3.9 on the m/kW.
It loves 60-65 on the motorway. Around 85 miles of my journey is M6/M1

 

[PuntsWolf]

You pay in your bill, everything done to deliver energy to your house has a value. It’s amortised over its asset life and the regulator lets the asset owner layer on an interest charge. This goes into your bill.

It’s a guaranteed rate of return for often 15 to 25 years. It’s why pension funds love our utilities.

Right.

But I’m paying my gas bill at the same rate as everyone else?

Surely I can’t start paying more than people down the road? Certainly not for a trial, particularly when I haven’t been consulted?

 

[Tredman]

Right.

But I’m paying my gas bill at the same rate as everyone else?

Surely I can’t start paying more than people down the road? Certainly not for a trial, particularly when I haven’t been consulted?

Gets spread out across the whole service area and everyone pays for your new shiny pipe

They are really doing it as pipes leak and they need replacing every 25 years or so. Cadent are just using it as a bit of free PR to push Hydrogen. Which will leak a whole load more and require more frequent pipe replacement and better RoI for the pension funds

 

[Wolf Hunting]

I know its a couple of months away, but you'll get a significant saving on your battery usage, if you air con your car when it's being charged, then when you get in, turn the air con off altogether, instead put your heated seats on. Cool air around you but you're nice and warm.
Well, you do on an ID3...

 

[EpsomWolf]

Booking airport transfers but ‘ang on a minute:



Not sure if this is profiteering and taking the environmentally conscious for mugs or an insight into the real cost of electric.

I thought this electric mullarkey was supposed to be cost effective for businesses