What will happen to car values is anything worth buying now?
Discussion
What will happen to car values if ICE cars are phased out and EVs enter the mainstream?
For example.
Classics or sought after cars like Porsche GT3RS, Ferraris are going to become worthless and unable to be sold. Museum pieces.
While EVs are going to become expensive throw away items like iPhones.
It's like whatever you buy now is finished either way, and will not be around or have any value for long.
For example.
Classics or sought after cars like Porsche GT3RS, Ferraris are going to become worthless and unable to be sold. Museum pieces.
While EVs are going to become expensive throw away items like iPhones.
It's like whatever you buy now is finished either way, and will not be around or have any value for long.
It is not so much the banning of new ICE sales, but restrictions on usage that will render them worthless.
No point having a supercar if you can't drive in past Harrods and show off etc.
We're already seeming certain configurations of ICE car becoming valuable like small petrol automatics as diesels are ULEZ unfriendly.
As for EVs being like mobile phones, I'm sure there will be something that ends up being the motoring equivalent of the old indestructible Nokia phones and just last forever being run for pennies.
There might be a new class of bangernomics where people buy EVs with degraded batteries but don't care as they only need to drive 10 miles a day to work and back.
No point having a supercar if you can't drive in past Harrods and show off etc.
We're already seeming certain configurations of ICE car becoming valuable like small petrol automatics as diesels are ULEZ unfriendly.
As for EVs being like mobile phones, I'm sure there will be something that ends up being the motoring equivalent of the old indestructible Nokia phones and just last forever being run for pennies.
There might be a new class of bangernomics where people buy EVs with degraded batteries but don't care as they only need to drive 10 miles a day to work and back.
3 posts in nearly 5 years is top lurking!
You state this as if they are banning their use. There will be petrol and diesel for sale for decades. The new lorries for all our deliveries are not all EV. As above, it's likely to be become more expensive (relatively, fuel is the price it was 10 years ago at the moment) but this may not bother those with the top cars anyway. E-fuel can be bought now, if they ever stop the pure dinosaur juice, but it's never going to be as cheap as unleaded.
You state this as if they are banning their use. There will be petrol and diesel for sale for decades. The new lorries for all our deliveries are not all EV. As above, it's likely to be become more expensive (relatively, fuel is the price it was 10 years ago at the moment) but this may not bother those with the top cars anyway. E-fuel can be bought now, if they ever stop the pure dinosaur juice, but it's never going to be as cheap as unleaded.
Truckosaurus said:
It is not so much the banning of new ICE sales, but restrictions on usage that will render them worthless.
No point having a supercar if you can't drive in past Harrods and show off etc.
We're already seeming certain configurations of ICE car becoming valuable like small petrol automatics as diesels are ULEZ unfriendly.
As for EVs being like mobile phones, I'm sure there will be something that ends up being the motoring equivalent of the old indestructible Nokia phones and just last forever being run for pennies.
There might be a new class of bangernomics where people buy EVs with degraded batteries but don't care as they only need to drive 10 miles a day to work and back.
There may be that for the EVs,s but who wants to be seen with a Nokia Classic? No point having a supercar if you can't drive in past Harrods and show off etc.
We're already seeming certain configurations of ICE car becoming valuable like small petrol automatics as diesels are ULEZ unfriendly.
As for EVs being like mobile phones, I'm sure there will be something that ends up being the motoring equivalent of the old indestructible Nokia phones and just last forever being run for pennies.
There might be a new class of bangernomics where people buy EVs with degraded batteries but don't care as they only need to drive 10 miles a day to work and back.
Everyone wants the latest Samsung or iPhone, and the same will apply to cars.
Technology moves fast, and the cars themselves will become less important. It will be more about the car's interior technology.
It seems pointless to buy a luxury or supercar now because they are going to be worthless in 10 years time.
When they can't be driven on the roads or restricted to a couple of miles.
Too early to worry. The majority of cars sold now are not EVs. The average car lasts what 16 years?. So there will be plenty ICE cars around for at least until 2040. Maybe later if the EV mandate gets relaxed.
Fuel? While there is millions of ICE cars there swill be petrol stations. Maybe fewer of them over time but the great thing about having a 500 mile range is you only need to fuel up every few weeks. For longer journeys there will be fuel on motorways and other hubs.
Values? Depends on what people want but there is no sign of demand for ICE cars falling off a cliff.
Fuel? While there is millions of ICE cars there swill be petrol stations. Maybe fewer of them over time but the great thing about having a 500 mile range is you only need to fuel up every few weeks. For longer journeys there will be fuel on motorways and other hubs.
Values? Depends on what people want but there is no sign of demand for ICE cars falling off a cliff.
sixor8 said:
3 posts in nearly 5 years is top lurking!
You state this as if they are banning their use. There will be petrol and diesel for sale for decades. The new lorries for all our deliveries are not all EV. As above, it's likely to be become more expensive (relatively, fuel is the price it was 10 years ago at the moment) but this may not bother those with the top cars anyway. E-fuel can be bought now, if they ever stop the pure dinosaur juice, but it's never going to be as cheap as unleaded.
But will it? And if it is at what cost?You state this as if they are banning their use. There will be petrol and diesel for sale for decades. The new lorries for all our deliveries are not all EV. As above, it's likely to be become more expensive (relatively, fuel is the price it was 10 years ago at the moment) but this may not bother those with the top cars anyway. E-fuel can be bought now, if they ever stop the pure dinosaur juice, but it's never going to be as cheap as unleaded.
If the Government continue with this net zero bollcks they can soon price ICE cars out of use.
We've had no tax increases on fuel for years now, what if they decided to do a big catch up.
The latest VED changes are already the start of this, £730 to £760 a year for some pretty ordinary cars.
99% of cars, whatever they are powered by, are designed to operate for 10 to 15 years then get recycled.
So whatever you buy, it's generally not forever.
I think we may see some Zero Emission zones and the like, I think diesels will become undesirable sooner than petrols, but I would only buy either on the basis of getting my value out of it within maybe 4 years.
EVs are becoming a sensible choice in the used market, when somebody wants a £5k car, if they can get an EV that ticks their boxes and saves them a significant chunk on fuel, they will do that. That is becoming real, and it will reduce the value of ordinary IC cars.
EVs won't last forever, and their improvement curve is steep, so anything you buy now could lose a lot of value, as better EVs start to swell the used market. So, again, I'd look to buy one that will 'pay for itself' in 3 to 5 years and any value left in it after that would be a bonus.
Exotic, historic or enthusiast vehicles can be different.
Some people believe the likes of 911s will always become more valuable, but I can remember people saying that about e-types.
There are a lot of 'exotic' cars about, ever more being built and it's not a given that so many people will crave them badly enough to pay high prices.
Also bear in mind there is a world beyond the UK. Above a certain level, cars and more so motorbikes, are an international market.
So whatever you buy, it's generally not forever.
I think we may see some Zero Emission zones and the like, I think diesels will become undesirable sooner than petrols, but I would only buy either on the basis of getting my value out of it within maybe 4 years.
EVs are becoming a sensible choice in the used market, when somebody wants a £5k car, if they can get an EV that ticks their boxes and saves them a significant chunk on fuel, they will do that. That is becoming real, and it will reduce the value of ordinary IC cars.
EVs won't last forever, and their improvement curve is steep, so anything you buy now could lose a lot of value, as better EVs start to swell the used market. So, again, I'd look to buy one that will 'pay for itself' in 3 to 5 years and any value left in it after that would be a bonus.
Exotic, historic or enthusiast vehicles can be different.
Some people believe the likes of 911s will always become more valuable, but I can remember people saying that about e-types.
There are a lot of 'exotic' cars about, ever more being built and it's not a given that so many people will crave them badly enough to pay high prices.
Also bear in mind there is a world beyond the UK. Above a certain level, cars and more so motorbikes, are an international market.
Easternlight said:
But will it? And if it is at what cost?
If the Government continue with this net zero bollcks they can soon price ICE cars out of use.
We've had no tax increases on fuel for years now, what if they decided to do a big catch up.
The latest VED changes are already the start of this, £730 to £760 a year for some pretty ordinary cars.
?? The VED went back to a flat rate for cars registered after 2017. And it's £0 if 40 + yrs old, although I expect that to change. They've already announced the re-introduction of the fuel escalator in Sept this year or did that pass you buy, since you're obviously so anti EV?If the Government continue with this net zero bollcks they can soon price ICE cars out of use.
We've had no tax increases on fuel for years now, what if they decided to do a big catch up.
The latest VED changes are already the start of this, £730 to £760 a year for some pretty ordinary cars.
I mentioned HGV because they are the life cycle of the country. It's likely diesel will be about even longer than petrol for that reason. No govt who makes it impossible for people to get to work would survive, and huge hikes will cause high inflation and interest rates too.
Cars will be like watches. Right now you could have some digital state of the art computer on your wrist, and that is what the majority of consumers will buy.
Some people prefer mechanical stuff though. They will spend a fortune on on things that are massively outdated, some have collections of them.
Run of the mill consumer ice cars will die, special ones will live forever.
Some people prefer mechanical stuff though. They will spend a fortune on on things that are massively outdated, some have collections of them.
Run of the mill consumer ice cars will die, special ones will live forever.
For example.
Classics or sought after cars like Porsche GT3RS, Ferraris are going to become worthless and unable to be sold. Museum pieces.
[/quote]
I hope your right, can't wait to buy my dream F430 for £20k
I think the opposite will happen though unfortunately anything interesting made before all the ADAS and particulate filters will go up in value.
Even if super unleaded doubles to £3 a litre if your only doing 2000 miles a year in your Ferrari getting 15mpg it would only cost an extra £900 a year.
Classics or sought after cars like Porsche GT3RS, Ferraris are going to become worthless and unable to be sold. Museum pieces.
[/quote]
I hope your right, can't wait to buy my dream F430 for £20k
I think the opposite will happen though unfortunately anything interesting made before all the ADAS and particulate filters will go up in value.
Even if super unleaded doubles to £3 a litre if your only doing 2000 miles a year in your Ferrari getting 15mpg it would only cost an extra £900 a year.
mididriver said:
What will happen to car values if ICE cars are phased out and EVs enter the mainstream?
For example.
Classics or sought after cars like Porsche GT3RS, Ferraris are going to become worthless and unable to be sold. Museum pieces.
While EVs are going to become expensive throw away items like iPhones.
It's like whatever you buy now is finished either way, and will not be around or have any value for long.
ICE cars are indeed being phased out at some point ( assuming the date doesn’t get changed again ) but petrol isn’t and will be supplies for probably decades. For example.
Classics or sought after cars like Porsche GT3RS, Ferraris are going to become worthless and unable to be sold. Museum pieces.
While EVs are going to become expensive throw away items like iPhones.
It's like whatever you buy now is finished either way, and will not be around or have any value for long.
Hybrid cars will increase in number terms.
Sought after ICE cars will remain just that and arguably some may even increase in value.
EV’s are already expensive but probably not before a decade in use would they generally have issues over no longer being able to charge up the lithium batteries ?
And then tech will no doubt have moved on.
Classic supercars won't become worthless. Many are only bought now because the buyer can demonstrate the means to do so - especially the really rare and extremely expensive stuff.
We may see interesting market stratification - a bit like how big capacity barges vary now - Some cars that were leading in their day hold values well (E39 M5) and others fall victim to high tax, poor reliability and general misuse (plenty of E class V6 diesels languishing in the classifieds, if you're brave enough to take on potential repair costs).
Expect more of that type of thing.
We may see interesting market stratification - a bit like how big capacity barges vary now - Some cars that were leading in their day hold values well (E39 M5) and others fall victim to high tax, poor reliability and general misuse (plenty of E class V6 diesels languishing in the classifieds, if you're brave enough to take on potential repair costs).
Expect more of that type of thing.
alscar said:
ICE cars are indeed being phased out at some point ( assuming the date doesn t get changed again ) but petrol isn t and will be supplies for probably decades.
Hybrid cars will increase in number terms.
Sought after ICE cars will remain just that and arguably some may even increase in value.
EV s are already expensive but probably not before a decade in use would they generally have issues over no longer being able to charge up the lithium batteries ?
And then tech will no doubt have moved on.
It's surprising how many cars which would have been considered 'sought after modern classics' 10 or 15 years ago are now rare.Hybrid cars will increase in number terms.
Sought after ICE cars will remain just that and arguably some may even increase in value.
EV s are already expensive but probably not before a decade in use would they generally have issues over no longer being able to charge up the lithium batteries ?
And then tech will no doubt have moved on.
Quattros, Imprezas etc have lost huge % of the fleet.
Most EVs being sold lately have decent battery range, so they will still have value as useful runabouts when they are 15 years old.
That puts their lifecycle pretty much on a par with modern IC cars.
I'm sure 'museum grade supercars' will always have high values, but upper-mid range cars are expensive to tax and maintain.
When you get down to merely 'mid-range' things become uneconomical to maintain pretty quickly.
I've had a few cars which would now be worth 10x what I paid for them, but only if in really good nick. The reality is unless you keep it stored properly and don't use it much, it won't last forever, which is why 90% of them dropped to worthless at various points.
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