Coupled with some cheap financing and you'll have yourself a nice little EV Christmas.
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Let me guess, you have a 2007 Camry or a Raptor, so happy with your car that you feel insecure enough to post negative comments on an EV deal.
Then you too are accustomed to heavy losses on depreciation, <one_of_us.gif>
Sure you do :)
You're not Harrington, mate.
Dinky Toy or Matchbox?
Matchbox cars don’t count.
Wow Rolls-Royce owner on OzB, made my day!
A diecast doesn't count.
This is ozbargain sir/maam, burning $20k cash in 2 years is not the way we do it.
Depends on what, some things we own because we enjoy them, like a nice holiday vs stay at home a save the money, driving a nice car is an enjoyable experience, lots of companies specialize just in selling experiences eg hot air balloon rides …
If you can claim depreciation, that will be a different story. Lower taxable income, access to EV electricity plan, increased CCS and FTB if you have kids.
So no one here owns a car, got it.
@smartazz104: There are new cars that won’t depreciate like a stone. A Camry or rav4 if you are worried about resale. Still cheap to run if not doing crazy high KM.
just people who prefer not to have competition… much better when there's no price pressure so prices go up.. we live in interesting times.
Have you seen a Camry or RAV4 drop in price by 15% in its first half year since going on sale? I've seen Toyotas only go up in price. In the meantime, Geely EX5 has dropped 15% in price and it hasn't even been half a year! I'm not anti EV and bought myself one but the reality is the depreciation is brutal and doesn't make up for petrol saving and even novated lease benefits aren't that worthy all things combined. My EX5 might sell for less than the balloon payment. It's just an expensive toy at the end of the day.
Toyotas are overrated and the people pushing their prices up are morons.
@smartazz104: In 10 years time, let's say your financial position changes an you can only afford a used car for $10,000. So you will be looking at cars with 150,000km. Will you buy a Toyota with all the creature comforts of a plastic fantastic Toyota interior and tech or a 10 year old Chinese car with 150,000km that smokes the Toyota with techy features? You will buy the plastic fantastic Toyota and will actually pay a premium for it too. In the price sensitive 5 - 10 year old used market, the latest and greatest iPad screens and blueteeth controls and heated and cooled seats mean nothing, only the badge matters that can have unlimited supply of cheap parts from either dealerships or wreckers, cheap insurance and most of all reliability. The Chinese will get there, don't get me wrong and I hope within the decade as Toyota and other Japanese manufacturers pricing has become nuts.
@smartazz104: And those who pay those prices are naive as well? Ok, how about those who absorb crazy depreciation of EVs? They must by very wise I guess.
The rule of thumb has traditionally been you lose 10% depreciation the moment you drive it and 15-20% in the first year. People forgot that over COVID when supply was short and some used cars were selling higher than new because of shipping delays. The market is just resetting.
@ultim8: The problem is that non-Tesla EVs depreciate even at the dealership. My EX5 has shed 15% of its price at the dealership. Same goes for BYD - minus $4k just for the new car, not a driven away one. And the discounts will keep growing lowering the resale value. So it's not the usual formula of 15-20% loss in the first year but actually more.
@beesider: You've got to look at total cost of ownership over say 5yrs or 8yrs. The paper value in 6 minutes or 18mths or whatever is irrelevant unless you constantly wheel and deal and upgrade regularly. Sure, the depreciation has been higher in the past 5yrs for EVs because there's been big price adjustments - Tesla went from circa 74K on-road for Model Y RWD in April 2024 to 60K in the space of 6 weeks. So of course, that adjusts the new and used prices of the entire market. A Sealion 7 @ 58K on-road and 4K cash in the pocket is great value. Whether it's worth 15K in 5yrs or 24K or whatever, you'd still save at least 10 or 20K vs paying for petrol for the typical Joe I reckon? Combined with nicer tech and quite premium spec for the $$ (vs say similar price point RAV4, Hyundai Tucson or Honda CR-V etc etc)
Ex5 still seems the same price?
Any issues with your EX-5?
@serpserpserp: EX5 Inspire was $48.5k d/a, now the dealers are selling it for $42k d/a. EX5 Complete is $35k d/a.
@beesider: Not true, EX5 was on top of my list, I am also member of EX FB group. Dealers reducing Inspire by max $500, Complete may be $2-3k as they not selling as well. I also went to a dealer and no where your numbers, unless you talking about used not even Demo cars.
@serpserpserp: There are some niggles here and there but overall I'm finding my EX5 OK. For $35k d/a for Complete it's a bargain.
@beesider: Yeah I'm not buying it second hand. The dealer websites are still full price. I've just been browsing them. If I can get a car at those prices, sure. But seems unobtainable.
@beesider: Whirlpool does not have 35k drive away. Lots of minor discounts on demo models, nothing that substantial.
You are just going to have to link this active 35k d/a deal because I can't see it.
@serpserpserp: This is someone's comment from the FB group
Got a demo complete Volcano Grey swapped to brand new for 38,888 drive away. Novated lease gave another 2000 discount for October so 36,888 (even further if I include GST discount).
I told them I ain't buying unless the discount makes sense for the new larger battery coming soon, so they swap to a new one for me to get the full discount.
This was in October. I recall there was a post about $35k. And surely there'd be discounts for 2025-plated cars come January-February next year.
@serpserpserp: Another post from the FB group:
Andrew Soulis
I picked up a complete with approx 3000km for 35k drive away.
Another post:
Jody Musgrove
Inspire ex demo for $42k in white in nsw with 2500km on it and electrified offer.
It is obtainable.
@serpserpserp: Add $1.8k and get a brand new for $36.8k like in one of the comments that I posted. Where there's a will there's a way. Prices are only going to come down as there's a 68 kWh battery version coming. The current one on sale in Oz is obsolete.
EX5 Inspire was $48.5k d/a, now the dealers are selling it for $42k d/a. EX5 Complete is $35k d/a.
I am aware of the $38k-$2k gift card for Complete Demo. For Complete brand new best price is $40,888-$2k gift card. For Inspire best can get is $48k-$2k gift card. No where near your $42k DA Inspire or $35k new Complete.
But as there is newer model next year I decided to wait and see how much they will sell it for.
I reckon I'm savings heaps on petrol and on the novated lease FBT exemption, but I also have a home battery (basically free in WA with the no-interest loan) so my car charging costs is close to nil.
yes. my kluger lost more than that after a year
I buy a car to use it and not worry about selling it in two years.
If you are worried about losing money buy a GTR and let it sit in the drive way and enjoy the bus or your bike.
Imagine trying to fight against the raging capitalist machine that is BYD by trying to start shit on an OzBargain comments section.
They’re aggressively trying to get into the market here and secure their foothold here - to do that they need to market their products and discount them to provide an attractive alternative to other brands.
If you had a shred of knowledge in microeconomics you would know. This is why they are discounting. Their sales are through the roof right now - do you seriously think BYD are trying to sell excess stock and shut down their dealerships? That’s a level of delusion I could only dream of attaining.
Who in this string of comments is saying they are going to shut down dealerships? Old man yells at cloud…..
capitalist machine that is BYD
What an ironic comment.
The flood of these car companies into our market is due to massive assistance from the government of where the cars are from. Capitalism is private ownership and free markets, driven by supply and demand, not government assistance to “private” companies designed to crush foreign competition.
The other hint is the name the name of the government providing the assistance.
Hint, the “C” doesn’t stand for capitalism.
I’m in no way anti-EV. But can we keep the debate in the realm of reality?
Capitalism is private ownership and free markets, driven by supply and demand, not government assistance to “private” companies
HAHAHAHAHAHHAHA
Not government assistance, omg Monday laugh sorted.
@PainToad: Go figure how much Tesla, GM and Ford are receiving from the US government. I guess Uncle Sam is also communist then.
@tightm8: Imagine Gina Reinhart, Mobil and these billion dollar businesses operating without corporate welfare which we pay for.
Capitalism is private ownership and free markets, driven by supply and demand
Can you name a major nation that doesn't throw enormous amounts of government cash at their automotive industry?
Maybe you should examine the true nature of China's economy rather than getting hung up on the "C" words. They may have authoritarian oversight of industry, but they understand supply and demand very well indeed.
@tightm8: This place is wild. I post something anti Trump or Elon I’m labelled some Loony Lefty.
Point out that governments funding car manufacturing isn’t true capitalism and I get attacked from the other side.
I’m not anti-EV. I’d love an IONIQ. I never watch Sky News.
People need to chill and accept others can have different opinions.
@PainToad: People have repeatedly counter-argued your point indicating that all governments fund car manufacturing yet you seemed to ignore each one of them. It's not that this place is wild, it's just because people don't like double standard and hypocrites
@mengqing: There’s funding car manufacturing to keep the industry afloat and then there’s funding an industry to allow for companies to sell products drastically cheaper to crush the competition.
Do you think these low prices will continue once all competitors are gone?
Do you think these low prices will continue once all competitors are gone?
Bingo.
you're getting downvoted by the same people that praised Uber when they came here and now what's happened?
This is textbook blitzscaling. Undercut until the incumbents can't compete anymore. The tech in the Chinese EV's is insane and way ahead of western cars, just look at what happened to Porsche in China, they got obliterated.
And then once there's a majority of Chinese car companies in Australia, what do you think they'll do? Keep prices low? lol
@Spets: Your comment history seems to tell that you're a cuck for a certain wrinkled orange fossil that is a convicted felon, p3dophile and let's not forget what he did under the table to a certain Bill Clinton. Wild.
They may have authoritarian oversight of industry
See call me old fashioned, but not a fan of authoritarians. Yes, even wanna be ones like Trump.
call me old fashioned, but not a fan of authoritarians
I'm not a big fan of authoritarians either, including Trump. But I'm not sure what argument you're trying to make.
I was just pointing out that all car manufacturers are heavily subsidized by their governments, authoritarian or otherwise. Singling out China for criticism just because they're doing it more effectively is a double standard.
Yes, I understand that they're hoping to drive other manufacturers out of business, but that's a common and well understood "capitalist" tactic. There's nothing stopping other manufacturers (and governments) from competing in an open market like Australia and elsewhere.
@klaw81: "capitalist" do share buybacks with government subsidies to drive up stock price and make profits, not putting those money into manufacturing uncompetitive products. Lessons here. :-)
So why did General Motors (Holden) and Ford Australia receive billions of dollars in government subsidies over the decades to support their manufacturing operations?
So why did General Motors (Holden) and Ford Australia receive billions of dollars in government subsidies over the decades to support their manufacturing operations?
Just like the excuse used by the lobby groups of insert vested interest "to keep the jobs of those workers" "think about the poor workers" them 1000 workers will cost tax payers 50 Billion thanks signed insert vested interest. The minister that will sign to give away 50 billion to those workers than get a $1mil per year consoling position at the insert vested interest company after they retire from office.
@PainToad So i take it you didnt read about the fallout Musk had with Trump over the withdrawal of EV rebates that was making Tesla some serious cash? Mate, you're more delusional about capitalism than toilet paper that thinks they'll never wipe ass.
How is it any different when the US government has bailed out Ford and GM in the past. And funnily enough GM close the doors here in Australia, imagine that the last AU manufacture of vehicles
He means a free market without government incentives like our real estate market
Economics 101 is prices go up when demand goes up. Here prices keep going down while demand goes up feeding even cheaper prices. Does this make sense?
The monster that is BYD and Chinese cars is they need high volume to get economies of scale in production. Stalling sales is death. It's all very frothy and bubbly.
I mean, yeah - economics 101 as you've described works when you create the hypothetical scenario that BYD is the only car manufacturer in Australia. Based on your 'economics 101', you're assuming that BYD operates as a monopoly of EV's here in Australia, let alone road vehicles when compared to ICE and Hybrid cars. If that were true, then of course prices would go up if demand goes up.
You forgot the other basic thing about microeconomics though, - market competition. In Australia, EV companies not only have to compete with ICE and Hybrid vehicles, which are very popular, but also with other emerging EV brands such as Geely, Zeekr, etc.
Prices go down because BYD need to aggressively compete with other manufacturers in the car market. Competition is good. It forces corporations to create better products for consumers that compete with other corporations. Does this make sense?
@tacos4brekkie: Yeah true. All these new brands coming in force a price war to be the best selling Chinese car. We’ve seen MG sales nose dive with their higher pricing strategy despite some of their newer ones being quite good.
@Brick Tamland: Yep. Similar thing happening with Polestar as well. Don't mistake it - the everyday Australian is facing a cost of living crisis. I don't know how many of us would buy an EV for the 'cool' factor that some ICE cars have. Polestar and Cupra were never going to really succeed here because they were selling at premiums.
A lot of us I would assume leasing or buying an EV as a short to medium term cost savings because we can't keep up with the day to day costs with keeping food on the table or affording to pay our rents and mortgages.
@tacos4brekkie: agree, but not the 2nd part - I bought my BYD for the long term savings
1st year - down ~$19k total (depreciation - savings)
2nd year - down ~$23k total
3rd - down ~$26k total
4th - down ~$27k total (at this stage, savings start to outweigh depreciation (at least for me)
5th - down ~$26k total
6th - down ~$23k total
7th - down ~$20k total
….
and dont expect to break even until year 12/13 ish
(but then, no ICE car is going to "break even" unless it becomes a collectable after 20+ years)
I can imagine it, and it would be awesome. Dont have the money atm but hoping my next car will be my first brand new, and first EV, all at once.
Me too saving coin for EV, if one day I need to buy new batteries that's ok, but that will be many kms into the future, not many moving parts in an electric motor vs ICE so motor last, would keep for at 15 years.
Yes, and after those 15 years the battery will still most likely give you 80% of the original range.
Once people have confidence in them, and that will come all automatically as time passes and EVs keep performing well, second hand EVs will be worth a lot more than second hand ICE. Who wants to buy a second-hand car for $10k and then spend $3k on petrol every year if they can get a $15k EV and never have to visit a browser again…
Who wants to buy a second-hand car for $10k and then spend $3k on petrol every year if they can get a $15k EV and never have to visit a browser again…
But but Sky News, big solar, Chyna, Gina, freedom, how good is coal, Muslims
It's so true, only people who want to burn their cash buy EVS
Do your maths, buying a new EV vs buying a new ICE car. Where do you save more cash?
tell us you're a boomer without telling us you're a boomer
Imagine living in 2025 where everything has become a battleground. Oh wait…
Battlefield 6 was released this year…
/jks
Imagine being so sorely upset with EVs in 2025. Enjoy your Camry.
Imagine wanting an EV to save the environment yet your country expects billions and billions worth of coal to China lol
I call that a win-win!
Imagine China stopping the purchase of our coal, what outcry that will cause in the LNP voters. Can't wait for it to happen. The countdown is on. 10 years tops 😁
@team teri: you mean.. people won't buy our coal when we go to (cold) war with them to counter their land(+sea)-grabbing??
2-3 years tops*
@Jaspa7: Meh, potatoes patatas.
They won't need any of our coal in 10 years if they keep building solar, wind and batteries at the pace they have done the last year or 2.
Whether they can find somewhere else to meet their demand in 2 or 3 years is a lot less certain, and reduces the odds of that war happening that soon.
you enjoy paying fuel? lol you can get away with paying next to nothing with an ev especially a tesla that cost about 100 bucks in servicing a year. Not to mention they still have alot of free chargers at shopping centres so no need to even pay to have it charged. And even if you do pay for it and charge it at home you can pay nothing if you have a decent solar setup, or as cheap as 8c a kw or less. people that like petrol cars still usually do ti because they like to race them, and they have so much money they dont' care about the cost of fuel.
people that like petrol cars still usually do ti because they like to race them, and they have so much money they dont' care about the cost of fuel.
im in this camp, I enjoy how a car with a engine feels, i dont need a couch with a steering wheel.
I also respect my time when I need to travel long distances.
my diesel will get to Melbourne and half way back to Sydney without stopping for fuel
just for context by law you are suppose to stop every 4 hours regarless apart of the stop revive survive govenment campaign, any ev can do that, Ev's are not mean to be driven they are mean to be appliences that self drive, getting to you to point a to b like a train or bus with out a driver, and eventually self charging thats the end goal. Also being a petrol head isn't a bad thing but its at you own expense. Fuel will continue to go up and at some point you will have to be rich to even buy fuel. Unless they either drop the price of fuel or find an alternative that can give you the soul of en engine roaring, this is the reality, fuel will continue to go up to the point where it will be unaffordable.
If you bought a demo MG4 in 2023 for $28,000 (which they were trading hands for) your MG4 would be worth
*checks notes
$27,000 today.
Not a bad depreciation schedule. Much better than a lot of ICE vehicles.
Wiadro on 01/12/2025 - 08:06 Comment score below threshold.
