True but the EV stories are very worrying. I am waiting to move from ICE to PHEV or EV or whatever. If I had bought the ID4 as planned last year I would be nursing a loss of €22K which is unsustainable for a normal person. If the EVs go like Mobile Phones or Computers then when does one buy, the investmanet is huge unlile a mobile phone. My depreciation on the ICE is €4-5 per year so I don't have the answer and putting off the decison.
True but the EV stories are very worrying. I am waiting to move from ICE to PHEV or EV or whatever. If I had bought the ID4 as planned last year I would be nursing a loss of €22K which is unsustainable for a normal person. If the EVs go like Mobile Phones or Computers then when does one buy, the investmanet is huge unlile a mobile phone. My depreciation on the ICE is €4-5 per year so I don't have the answer and putting off the decison.
Unless you are Jerry Seinfeld or Jay Leno collecting supercars then whatever vehicle you purchase is a financial liability. Some cars depreciate more slowly than others but they all lose value. Even middle-of-the road family cars can cost more in monthly payments than a mortgage. You can estimate that a car will be worth a particular amount in 3, 5, 10 years time but you are taking a gamble as it may go out of fashion, turn out to be a lemon, get dinged and scratched, etc. There's never a guarantee that it will hold value.
From an overall environmental point of view the best ways to travel from least to most polluting are: walking, cycling, public/shared transit, used EV, used ICE, new EV, new ICE. If you look just at local emissions then both 2nd hand and new ICE are by far the worst as they produce exhaust fumes that can have particularly harmful effects on children. Some people here may remember the bad smog problem Dublin had in the 1980s and Prof. Luke Clancy's campaign to prevent literally hundreds of deaths a year. I'm sure it's not controversial to try to reduce respiratory disease in babies. EVs have a role to play in this.
EVs do have an upfront carbon cost of production but after a couple of years that disappears and over their lifetime they are far less polluting than an ICE. Another big difference is that electricity is becoming more sustainable each year while fossil fuels are about as "clean" as they can ever be. There is also a lot to be said for getting our energy from a windfarm off Wicklow instead of from the maniac members of OPEC.
People greatly overestimate car range needs. 70% of daily car trips are shorter than 10km. Average commutes vary from 7km in Dublin to 17km nationally. Even the highest county average (Laois and Roscommon) is only 27km. That means an overnight charge at home once a week.
A VW Passat will suit most households but it would not suit a large family. If we were to follow the anti-EV thought process we would all drive mini-buses on the off chance that we needed to give a lift to a rugby 7s team going from Belfast to Ballybunion in such a hurry that we cannot stop for a toilet break.
They can afford it alright. If you need a good car one can be purchased for 10k and provide years of service.At the moment. It’s a Mugs Game and I feel very sorry for people that lost €22k in a year, who can afford that? I wish it was different but I get no pleasure in these results.
It was M.Harney of the PDs who shocked the fuel burning 'industry' by bringing in the ban.I remember the smog well. Mostly caused by coal burning. Couldn't see 10ft. I remember buses having the conductor standing on the front step with a torch trying to find the kerb for the driver.
We just downsized from a 7 seater, because just don't use all the seats anymore. Made little sense to drag that around all the local short trips.
It was M.Harney of the PDs who shocked the fuel burning 'industry' by bringing in the ban.
Shame it took C 34years for the ban to go countrywide, again on fear of during from same 'industry'
Same backlash here ICEs are 100% perfect. It's funny to read this from contributors from one of Europe's most gridlocked cities.
Yes. However with little indigenous energy sources they have a role to play in non urban settings. Your comment about less reliability on ICEs is because of the ever increasing and reliable standards for emissions which car firms must comply too.Those wood burning stoves are the current curse. Much as I like an open fire, in urban environment their day is done.
If you bought an id4 one would assume you had the money to do so, in what way would the loss in value of the car been so unsustainable for you? It's a stinger for sure but on the flip side new cars have had similar percentage drops and as the loss in value only crystallizes when you trade I'm wondering where the unsustainability is?True but the EV stories are very worrying. I am waiting to move from ICE to PHEV or EV or whatever. If I had bought the ID4 as planned last year I would be nursing a loss of €22K which is unsustainable for a normal person. If the EVs go like Mobile Phones or Computers then when does one buy, the investmanet is huge unlile a mobile phone. My depreciation on the ICE is €4-5 per year so I don't have the answer and putting off the decison.
You are doing yourself out of an award there GordonPossibly a candidate for the most ridiculous post ever written!
The Jones are very very importantThey can afford it alright. If you need a good car one can be purchased for 10k and provide years of service.
Of course keeping up with the Jones's is another matter.
Our first car (bought used) was 19 years old when we scrapped it. Our 2nd car (new) was kept for 12 years - it was worth about €3k when we gave it to a friend and it is still going strong. Our current car was bought new 2 years ago and I expect to drive it for at least another 10 years. My parents are driving cars of voting age.
Any "loss" is only unsustainable if it's realised, i.e. if/when you sell the car. People generally do not need to change cars very often. If they choose to then that's a different matter and nothing to do with EVs.
As is often advised on AAM, people should be very careful about buying any car (ICE or EV), especially a new one, and particularly if on credit/PCP as it is one of the most best ways to squander money.
Ah I'm not sure about that, it's a manual 1 litre petrol that wouldn't pull the skin off a rice pudding. Any bit of spec and an automatic and it'll be pushing 40 especially if you want a tiny bit of power.I'll be honest don't really get the realised loss ideal. It feels like you're pretending it's not a loss until you trade in or sell it.
Only make sense if you financied it. What if you bought it out right. I just think it as capital (or finance) that's not being used for something else.
I'm certainly not fooling anyone by having a new Merc or Audi outside the door every 3 years. If that's the idea. If someone likes having a new car regularly and its easy to do it, then why not.
But cars and EVs last year were crazy prices. There was an ID4 in the showroom at 60k and an ID Buzz at 70k+. When I saw that I'm thinking I'd buy a far more premium older luxury barge for half that. It just made no sense. I just knocked it on the head at that.
You'd get into a new Octavia for just over 30k which is so much bang for buck and all the car most people need. Even if you've no interest in a Skoda, it's water mark for comparing the cost of other cars in the market.
That was a crucial factor in the ev market, the Jones needed to know you have one and see you driving it.The Jones are very very important
That was a crucial factor in the ev market, the Jones needed to know you have one and see you driving it.
I'll be honest don't really get the realised loss ideal. It feels like you're pretending it's not a loss until you trade in or sell it.
Only make sense if you financied it. What if you bought it out right. I just think it as capital (or finance) that's not being used for something else.
Cant agree ............... Asset drops in value .................. its a loss.The decrease in value is only an issue if you plan to sell the car at a particular point in time. For people selling within 3 years of buying, they are taking a bigger hit. Anyone keeping a car for 10+ years is not really going to feel any loss.
It's a bit like the value of your PPR doubling/halving. You don't feel wealthy/poor unless you actually sell your home.
Absolutely agree with you re: the capital being tied up, that is one of the great cons of our time alongside diamond rings and Ticketmaster. 5-6 figures for a depreciating item that sits idle for >90% of the time. If you look at what a car actually costs per day of ownership (or worse, per hour of use) it must be multiple times the cost of a house.
OK so if for.some bizarre reason your car increases in value what would you spend your new found wealth on?Cant agree ............... Asset drops in value .................. its a loss.
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