Depreciation and thinking of selling

[Bobrae99]

The thing that eats money is changing your car and the more often you do it the more you lose.

Why does charging "eat money". In most cases it is cheaper to charge a Taycan and drive it 200 miles than it is to fuel a Panamera and drive it the same distance. Paying for "fuel" (electricity) isn't the issue, it's the charging inconvenience to the OP.

I don't know why anyone who doesn't have a L2 charge at home option buys an EV in the first place. Even Tesla tells you SC charging is hard on the battery and should be avoided where possible (except road trips, I guess).

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[Prit]

For such a big hit, you likely should keep the car. You could always eat it and get out but I wouldn't. If the hit was smaller, perhaps it would make sense.

Last week, I traded in my '22 CT 4 (the base CT) and was $8k (with the tax offset on the trade) in the hole on the trade. I bought it new and at the time the $7500 tax credit was available, which I got. With that, my hit is likely much smaller (~$500).

I got a 911 (992) Carrera GTS - a car I've always wanted and it was the right time. For me, it was time to let it go and enjoy something else. I was aware of the depreciation environment with EVs and had to make the leap now while I was really not losing much. I leased in the past but Porsches don't lease well. At the time of my purchase, the lease was ~$1k/month more than a financed purchase. I had it for about 2 years so I would have spent an extra $24k so I came out on top by purchasing in this instance.

Depreciating is a part of the cost of ownership. I think all of us know that. I hate when folks say "don't buy a depreciating asset" blah blah. Buy what makes you happy but responsibly. In this case, luck of the draw had it that it dropped a ton. None of us predicted that. I'm annoyed that it happened and anyone in here that might have an unexpected life event which requires them to sell will be annoyed too, whether they're worth $1 or $5M dollars - no one likes to lose more than they had planned.

 

[ben1]

Battery technology is getting better ( solid state ) performance hybrids seem to be wave to stay , and these early era Li-ion battery cars might be obsolete like early 90’s laptops.

This is not really true yet.
The 2019 battery tech of the Taycan is still very much up to date today.
The batteries are still similar in size and the charging speed of the Taycan is still clearly above the general market.
The only drawback is the rather low efficiency of the Taycan. But that is in my opinion compensated by the high charge rates.

The reality is also that battery tech doesn't have a very big impact in real life for most people because you rarely do distances greater than the battery capacity.
Now that more and more people are getting used to EV's, more and more people realise that 350 to 400 km of real range is just fine.

 

[f1eng]

Why does charging "eat money". In most cases it is cheaper to charge a Taycan and drive it 200 miles than it is to fuel a Panamera and drive it the same distance. Paying for "fuel" (electricity) isn't the issue, it's the charging inconvenience to the OP.

I don't know why anyone who doesn't have a L2 charge at home option buys an EV in the first place. Even Tesla tells you SC charging is hard on the battery and should be avoided where possible (except road trips, I guess).

I think you need to have another read of my post.
What I wrote was that what eats money is changing your car, ie selling one and buying a different one. Choosing wisely then keeping the car a long time is the best way to lose the least money.

 

[parkslopedope]

Why does charging "eat money". In most cases it is cheaper to charge a Taycan and drive it 200 miles than it is to fuel a Panamera and drive it the same distance. Paying for "fuel" (electricity) isn't the issue, it's the charging inconvenience to the OP.

I don't know why anyone who doesn't have a L2 charge at home option buys an EV in the first place. Even Tesla tells you SC charging is hard on the battery and should be avoided where possible (except road trips, I guess).

I think you misread what he wrote, he said “CHANGING” not CHARGING lol

 

[tylerdurden]

It only depreciates when you sell it.

 

[whitex]

It only depreciates when you sell it.

Or total it, or refinance it, or get divorced, or want to sell it but cannot afford to, or applying for a different loan and evaluating your net worth, etc.

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