Oracle Car Finance, a UK-based credit broker specialising in prestige, sports, and classic vehicles, has highlighted eight electric car models that maintain their value exceptionally well over time.
Depreciation, a significant concern for industry experts, impacts monthly finance payments and the risk of negative equity when changing vehicles. The way a car loses value over time can have substantial financial implications for buyers.
For those purchasing nearly new cars, depreciation can be beneficial, offering significant discounts from the original list price. However, for new car buyers, potential loss of value remains a key concern.
Recently, electric vehicles (EVs) have come under scrutiny for their rapid depreciation over short periods. Despite this, Oracle Car Finance has identified eight EV models that demonstrate strong value retention, making them attractive options for buyers concerned about depreciation:
- Lotus Eletre: Despite its high price, early models of the Lotus Eletre are showing minimal depreciation, retaining their value remarkably well.
- Volkswagen ID Buzz: Combining retro styling with modern features, the Volkswagen ID Buzz has depreciated by just over 20% after two years, indicating strong value retention.
- Tesla Model Y: Known for its affordability and technology, the Tesla Model Y retains about 76% of its value after a year and a half, outperforming many similar SUVs.
- Porsche Taycan: Even after five years, the Porsche Taycan remains highly desirable, with well-maintained models retaining a large proportion of their value.
- BMW i5: As a new model, the BMW i5 shows positive early signs of value retention, especially the M60 model, which retains over 87% of its value.
- Tesla Model X: Despite its age, the Tesla Model X retains over 65% of its value after three years, thanks to constant updates and strong performance.
- Audi RS E-Tron GT: The Audi RS E-Tron GT retains about 62% of its value after three years, with its sophisticated design and performance making it a solid investment.
- Polestar 2: After an initial drop, the Polestar 2 stabilises, retaining around 65% of its value after three years, aided by competitive pricing and incentives.
Depreciation remains a critical factor for car buyers, influencing overall ownership costs. These identified models offer reassurance to those investing in new electric vehicles, demonstrating strong value retention and making them solid investments in the rapidly evolving automotive market.
