Do you take the first bid? I usually do not. He's moved every day...
New and used cars are for sale and there is demand for EVs
How do you know “the car lost $80 per day in value”? 1- Do you know how much the original owner paid? Do you have the original MSRP (not how much the car would cost today brand new) and do you know how much off MSRP the original owner got?(yes i can assure you the owner got a very good discount on a 2020 MY taycan) 2- Are you reflecting the $7500 tax credit the original owner enjoyed? 3- It is a Turbo S, how is the build? Is part of your $80/day calc reflect $1/ day for leather wrapped sun visors, $3/day for some special color that no one cares about today yadi yada? This whole depreciation panic without a proper analysis is getting out of control and becoming a self full-filling prophecy. The better a deal people get the more questioning they become. “Will the car will be worth zero at this depreciation pace”. No it wont be for gods sake. 1st- your are looking at the highest highest part of the range, the model that carried almost 2X MSRP vs a RWD or 4S despite being a 10% more of a car- content wise. Second hand market will fair value that ridiculous premium at first market transaction. It is not the crazy depreciation of “Taycan” it is the depreciation of “$20K 2.5 seconds of overboost” or depreciation of “$9K ceramic brakes that get rarely used on an electric vehicle” you are looking at. 2- You are scared by the original owner’s loss but he was not screwed not nearly as much as you think he was screwed. S/he did not pay MSRP, mostly likely got an 8-10% discount over very old pricing (which saw multiple price increases since then), he got $7500 tax credit. Enjoyed a hyper car acceleration for 3 years, did not pay for gas etc etc. And all these comments around “yeah batteries degrade what do expect…” as if clutches, timing belts, turbochargers don’t. As a matter of fact batteries dont degrade as much as people fear. How many 10 year old teslas you heard requiring a battery swap yet? I did not hear many. How many 10 year old Porsches you heard needing a turbocharger change? I heard many. There is no fundamental depreciation issue with Taycan in the US.. at least yet. There is no logical justification either (battery, ev, solid state, software whatever). There is just a car park of 2020 Taycan Turbos that are “great deals” for very specific reasons + shallow fears and myths driven by that. OP please go find that “Great deal” 40-50% off MSRP on a 2022 reasonably specced 4S and let me know. You won’t. Because there is none (if there was my friend will grab it right away). Now my two cents, i would not buy turbo s 3 years old if was worried about battery degradation. They will have the most abused batteries for the same milage driven.
Yep. I call pretty much any vehicle a hunk of deprecating metal and plastic, and, sometimes leather. This is not a bad thing, just reality. Even for the so-called exotics I think that the auction companies make much more money than the actual buyers and sellers. Yes, there are some people that make money buying and selling exotics, antiques, etc., but for the majority when you consider insurance, storage, upkeep and the loss of the use of dollars for other investments we are dealing we hunks of depreciating metal and plastic and sometimes leather........................but they are fun to drive, and sometimes that is just plain old priceless.
First, value is always relative "to whom". There is no such thing as universal value. Look for other similar cars on the market, that will tell you replacement value. As for your specific question, nobody here could even help you look for comparable since you did not include the spec, date of purchase, mileage, original MSRP, accident history. It's like like asking "Is the sticker price for 2024 Taycan Turbo S $195K, $210K, $250K?".
The question for you then is at which point will there be another buyer to whom the car's value will match the falling price. There is of course no exact answer, but probably a statistical distribution. For example, if you're waiting for the price to drop to $20K, there is an almost a certainty that someone else would pay more than that, therefore chances of you getting that car are effectively zero.
If you're buying through a company in the UK, the more normal depreciation that we are now seeing might actually favour a new/ex-demo car. You can offset it all against Corp tax now, and when you come to sell with a significantly lower value, only pay Corp tax on the residual.
yeah, I'm buying through a company. I don't need the 100% corp tax offset for new so I'm considering used too and offset for corp tax over the lifetime. There is a caveat that should corp tax get lower in the next parliament offsetting 100% now would be beneficial. More things to think about - as if the Porsche option list wasn't enough!If you're buying through a company in the UK, the more normal depreciation that we are now seeing might actually favour a new/ex-demo car. You can offset it all against Corp tax now, and when you come to sell with a significantly lower value, only pay Corp tax on the residual.
If not buying through a company, buying new is a good way to flush money away. There are very well spec'd GTSes sitting unsold for months at sub-100k right now.
The falling knife analogy is where I am currently....would like one. But not desperate to buy... Will keep watching for a bit
Depreciation over the next couple of years will depend, largely, on what Porsche do with the face lift, what govt does with tax breaks and how reliability holds up.
I’ll have to practice reciting this in anticipation of the reaction from my wife and our daughter on Labor Day when my used 4CT is delivered.
