[Delta5]

I paid £74k in Sept 23 but 0% finance and £35k residual at 3 yrs so known depreciation, looking at current values of 3 yr old cars it will sell for around £20k at auction when I hand it back.

 

[jeffreycooper1963]

I paid £74k in Sept 23 but 0% finance and £35k residual at 3 yrs so known depreciation, looking at current values of 3 yr old cars it will sell for around £20k at auction when I hand it back.

I have to wonder actually wether any car is worth £40K spent over three years ?

 

[ZaphodBeeblebrox]

I have to wonder actually wether any car is worth £40K spent over three years ?

First define worth.

Many vehicles will cost that, you don't have to move all that far upmarket. A reasonably well specced 3 series could probably hit that.

Personally I'd try and avoid it, though it's not a question of that or something else. It just seems to me unnecessary now.

Need and purpose can be filled far cheaper, but that's equally irrelevant.

What you are talking about really is want. Where that crosses an individuals view of value is their effective definition of worth.

If there weren't enough who did see value in it the market would be rather different.

 

[jeffreycooper1963]

First define worth.

Many vehicles will cost that, you don't have to move all that far upmarket. A reasonably well specced 3 series could probably hit that.

Personally I'd try and avoid it, though it's not a question of that or something else. It just seems to me unnecessary now.

Need and purpose can be filled far cheaper, but that's equally irrelevant.

What you are talking about really is want. Where that crosses an individuals view of value is their effective definition of worth.

If there weren't enough who did see value in it the market would be rather different.

I think the thing that struck me was the fact that for that £40K, the "owner" only got to drive it for 3 years. He didn't own it, and handing it back was the only sensible option, so that was literally £40K to rent a car. As you say, to some, that isn't a problem for a multitude of reasons - but it proves I was punching way above my pay-grade !!

 

[4caster]

My head told me to run for the hills, my heat transferred the cash over to the dealer

This is the first car that I've said to myself "if this is the last car I own, I'll be happy'

My plan is to keep this for 3 years then chop it in for the newest, lowest mileage and highest spec that I can get my grubby little hands on. The keep it for 3-4 years.

I am 82, so whether it is the last car I own depends on which of us dies first.

 

[Delta5]

Depreciation to around half its cost at 3 yrs is similar for many premium cars, popular models do better, unpopular or unreliable cars can do much worse. All EVs have become difficult to sell, the IPace worse than most, for myself if I hadn’t bought an EV the FPace SVR would have been high on the list that would have cost much more to run.

We are all mad, although many are bought as company cars set against tax which makes it much more affordable..

 

[elbocko]

Did anyone pay anywhere near £86k? They were available for like £45K pre-reg but new

Yes, I did, 6.5 years ago, still driving it nearly everyday and my only vehicle.

 

[ZaphodBeeblebrox]

We are all mad, although many are bought as company cars set against tax which makes it much more affordable..

It's also NI anf if you happen to control they employer thare is Employers NI plus CT benefit, either in the form of capital allowance or some of the lease payment.

From the employees view there is only 3% bik (but increasing).

This has a side effect on residuals, there are a much larger number of 100k and up vehicles into an artificially created market. Often acquired by people who otherwise would gave bought perhaps a 40-50k car (same effective cost).

The natural buyers of these are 3/5 years are not in the 50k market, they are in a 30k market.

That huge oversupply hits residuals.

 

[SonnyA85]

Yes, I did, 6.5 years ago, still driving it nearly everyday and my only vehicle.

What mileage you on now? Did you extend warranty with Jaguar? You had any major faults?

 

[SonnyA85]

It was not an option to pay significantly less back when I bought mine in late 2020. I got a good discount and finance incentive but still paid over £70k

Wow . I paid circa £26K for a 2023 HSE Black with portofino blue and oyster interior. Circa 30K miles. Sure it's not brand new but I also got 2 year warranty direct from Jaguar as it was a main dealer. Servicing and tyres is all I really need to worry about then I'll probably trade for an EV6 in 2 years time unless I can get extended warranty for a good price but jaguar servicing costs are stupid so I will probably get rid after enjoying for 2 years. It's a plush car and I can afford to run it but I'm already bored of it. It looks stunning though every time I look at it but I had a BMW Z4 3 litre before it so I'm used to fast cars.

 

[SonnyA85]

I am 82, so whether it is the last car I own depends on which of us dies first.

At that age it's best you make the decision to retire from driving before it's made for you through a fatal error. My grandad is 86 and we took his keys off him around your age and glad we did as he seems to be slowing a lot and very forgetful.

 

[Delta5]

At that age it's best you make the decision to retire from driving before it's made for you through a fatal error. My grandad is 86 and we took his keys off him around your age and glad we did as he seems to be slowing a lot and very forgetful.

Yes us oldies really do need to be self aware how sharp we are, I retired from flying last year, medical was OK but I had lost the confidence you need to fly off into the wild blue yonder.
It will be the same with driving while I enjoy driving I will continue, the IPace is fast but it’s not speed that usually causes accidents, it’s failing to be aware of other road users, poor eyesight or slow reaction time, you can be just as dangerous in a Ford Fiesta.

 

[electric beagle]

Wow . I paid circa £26K for a 2023 HSE Black with portofino blue and oyster interior. Circa 30K miles. Sure it's not brand new but I also got 2 year warranty direct from Jaguar as it was a main dealer. Servicing and tyres is all I really need to worry about then I'll probably trade for an EV6 in 2 years time unless I can get extended warranty for a good price but jaguar servicing costs are stupid so I will probably get rid after enjoying for 2 years. It's a plush car and I can afford to run it but I'm already bored of it. It looks stunning though every time I look at it but I had a BMW Z4 3 litre before it so I'm used to fast cars.

That's just the way the market has run since 2020, initially used costs were holding up quite well then fell off a cliff in 22.

To compound things I sold the last of my 3 GTRs to switch to the Jag and it would now be worth circa £30k more than I paid for it new!

Its been a long time since I ever bought other than new but if I ever buy another EV it definitely will not be new unless it comes with an incredible lease deal. I have had mine for nearly 5 years and it still hasn't done 30k miles so sounds like yours had a hard early life, with likely lots of rapid charging.

 

[Pacey]

It was probable that JLR needed an EV in its lineup to counter various regulations and taxes if they didnt have one. They strove to make sure that they had a pretty good one as demonstrated by more awards than any other vehicle let alone EV.

Because they had a huge development budget to create it, there are some parts which are well over engineered for what they are and you can tell that the designers wanted to add in something special.
When they launched the car they didnt do it one country at a time, learn from it and update before going global, they launched it worldwide in one go. Look at the way all the manuals and documents were ready not just for biggest countries but smaller ones too.

With such a new car there will be some niggling issues.
The air con bolts that were a fraction too long can be resolved with a washer under the head but the warranty fix was much more involved that that.
It looks like the isolation fault in the traction battery pack can be resolved by removing a few bolts or insulating them while in situ but so far has resulted in complete removal of the battery and disassembly. Ok if owners are not asked to fit the bill.
JLR dealers may still be working out what to do and some independents seem to have a good grip.

All said though, it is a cracking car whatever price point you choose to own one.
Maybe think of it as an adorable pet that needs some input as well giving a lot in return.
(if you don't have pet insurance keep some funds aside just in case)

 

[OBC John]

At that age it's best you make the decision to retire from driving before it's made for you through a fatal error. My grandad is 86 and we took his keys off him around your age and glad we did as he seems to be slowing a lot and very forgetful.

Hmmm. Even the government don't dictate when you should stop driving. Whilst it is true that the self-certification system of "fitness" to drive needs to be addressed, I don't think we should be going down the road (no pun intended) of revoking driving licences at some given, random age.

 

[ZaphodBeeblebrox]

Yes us oldies really do need to be self aware how sharp we are, I retired from flying last year, medical was OK but I had lost the confidence you need to fly off into the wild blue yonder.
It will be the same with driving while I enjoy driving I will continue, the IPace is fast but it’s not speed that usually causes accidents, it’s failing to be aware of other road users, poor eyesight or slow reaction time, you can be just as dangerous in a Ford Fiesta.

Undoubtedly there are many who shouldn't be, but that applies in varying degrees to all age groups.

A big issue is the oversight. There pretty much isn't any.

Self reporting doesn't work particularly well and the conditions for a medical professional to make a report are stringent.

General compliance around notification is very low, much illness are treatment needs reporting even though it may not affect in any way.

Periodic assessment by a standards body may be a good start, though undoubtedly at large cost. (I personally get oversight from medical restrictions, but only once in the last 18 years has it involved other than form filling)

Eyesight is a particular issue. Despite having all my group2 entitlements removed due to visual restrictions no optician has ever mentioned reporting or similar. Indeed when I couldn't even make 6/12 on a simple snellen after surgery it didn't occur to anybody to advise don't drive.

Static visual acuity is only the start of capability. Dynamic is far more important, covers useful field of view and processing speed.

Pass your rest at 17, keep going until 70 simple renewal on self cert is a poor system.

Perhaps reducing the age and frequency of D4 tests and also applying them to group1 - accounting for the difference in standard - would be a good start.

 

[Pacey]

Although eyesight can lead to collisions due to not looking properly, it can also mean that you take more care as you cant quite make things out.
One of the fears for 90 year old drivers isnt that they might be more likely to have an accident but that if they are involved in one 'it'll be your fault cos youre over 90' regardless.

 

[Steevh]

Wow . I paid circa £26K for a 2023 HSE Black with portofino blue and oyster interior. Circa 30K miles. Sure it's not brand new but I also got 2 year warranty direct from Jaguar as it was a main dealer. Servicing and tyres is all I really need to worry about then I'll probably trade for an EV6 in 2 years time unless I can get extended warranty for a good price but jaguar servicing costs are stupid so I will probably get rid after enjoying for 2 years. It's a plush car and I can afford to run it but I'm already bored of it. It looks stunning though every time I look at it but I had a BMW Z4 3 litre before it so I'm used to fast cars.

Yeah, not a particularly unusual or great deal though; it's just the way prices have gone.

Each to their own in car choices, but IMO neither the EV6 or the Z4 is in the same league as the I-pace as an overall package (we all know its frailties).

 

[SonnyA85]

That's just the way the market has run since 2020, initially used costs were holding up quite well then fell off a cliff in 22.

To compound things I sold the last of my 3 GTRs to switch to the Jag and it would now be worth circa £30k more than I paid for it new!

Its been a long time since I ever bought other than new but if I ever buy another EV it definitely will not be new unless it comes with an incredible lease deal. I have had mine for nearly 5 years and it still hasn't done 30k miles so sounds like yours had a hard early life, with likely lots of rapid charging.

The battery I don't care about. I won't be keeping the car long enough for the warranty to run out. Batteries aren't really the issue they were initially made out to be. For example battery tech has been in the prius for nearly 30 years now (launched in 1997). If there was going to be massive issues with batteries we would know it by now and toyota did majority of the research and testing for EV's with their hybrids. Over that 30 year period there hasn't been a single issue with toyota's batteries and they last pretty much the life of the vehicle and those that don't are easily replaceable now with third parties refurbing them and others making lighter, bigger and more powerful versions so you get even more benefits.

Essentially over time batteries will get better and cheaper especially from third parties. They are warrantied for 8-10 years in most cases and I don't plant to keep them for anywhere near that long. I will be buying a car that's 2 years old in most cases and then selling after 2 years in terms of the Jag and probably 5 years with the EV6 (once it's car warranty has ran out).

I bought from a jag official dealer too so they would have tested the battery as part of their checks.

 

[Steevh]

Too much mansplaining 😉

I love the optimism that Jaguar (or any dealer) has done all the checks.