When buying a new or a used car, it’s important to look at the depreciation figures.
These will not only influence the amount of money you might lose on a car, but it will also affect the monthly finance figures – positively or negatively.
Data has shown that, on the whole, electric car values seem to drop at a slower rate than conventional petrol and diesel models. But as battery technology continues to improve, could this have an effect on older EVs, which can’t travel as far on a charge?
To help get to the bottom of this, car valuation experts CAP has worked out which of the current EVs are the most depreciation-proof. The firm has provided its data to Motoring Research to work this out.
Here’s the five slowest depreciating electric cars after three years, presented in reverse order.
It’s refreshing that it’s one of the least expensive EVs on sale today that starts this chart, with Hyundai’s Ioniq Electric retaining 61.7 per cent of its value after three years, according to CAP.
This means it will lose £11,740 in its first three years, which might sound a lot, but it’s far less than rivals – given most cars lose over 50 per cent of their value in this time frame.
Here is another affordable electric car to prove that it’s not just premium models that retain the most of their value.
The British-built Leaf is Europe’s best-selling electric car, and its popularity is clearly helping residual values.
At 36 months old, the Leaf will have retained 64.5 per cent of its value, making this practical and affordable EV a viable option if you’re looking for a slowly depreciating electric car.
Teslas are some of the most coveted mainstream cars on sale today, so it’s no huge surprise to learn that the Model X SUV is one of the best electric cars to choose for slow depreciation.
In three years’ time, CAP predicts the Model X will have held onto 64.6 per cent of its original value.
Despite being around for several years already, buyers still clearly value Volkswagen’s e-Golf, with the five-door hatchback retaining an impressive 66.3 per cent of its value after three years.
With Volkswagen’s first standalone EV on the way – the ID.3 – it will be interesting to see how the e-Golf’s values continue to stack up, though.
With a number of high-profile awards under its belt, the I-Pace is clearly doing something right as Jaguar’s first electric car. Its impressive electric range, enjoyable driving experience and stunning interior make this one of the most desirable EVs on sale today.
And this is clearly transferring over to desirability, with the I-Pace retaining its value much better than any other electric car here – an impressive 74.6 per cent. This makes it not just the most sought-after EV, but one of the slowest depreciating models of any car.
August 9, 2019