Driv200

I love the Taycan Turbo S! (Currently own a 718 GT4)

As range anxiety gets less and less, I can’t help but wonder if the new anxiety is technology itself. “If I buy the TTS today, will it be trumped next week with a new, better battery, better range model next week? Overnight, my techno marvel loses some value. Likewise, if I buy the gas 992 Turbo S, does Ford or Chevy come out with a new EV that causes a gut punch with similar acceleration? This EV stuff is amazing in many ways…..but seems like computers…..your technology is only as good till the next update comes out. Then your old news and worth a lot less. Feedback?

daveo4porsche

yes and no - but also recently and in my experience my EV’s have held value at least as well as my ICE vehicles and sometimes better - I’d lvoe some data my honest impression is the depreciation curve isn’t statistically worse than ICE’s and as people realize these cars really don’t age like ICE’s they seem to be holding their value well…

but I also don’t threat my cars like investments and have never considered depreciation in my purchasing decisions - mostly I go for what I want and like and offers good quality.

XLR82XS

You have nothing to worry about in the short term when it comes to battery tech. Porsche has teamed up with BASF for battery production by 2024 so I'd imagine current Taycan owners (such as myself) won't be terribly upset unless some miracle battery technology is released by then.
Good news is that software of EV's can be updated and most interiors are already very futuristic delaying any possibility of a new vehicle today, especially Taycan, feeling dated after a year or two.

https://newsroom.porsche.com/en_US/2...ies-25212.html

Archimedes

I considered this for about 30 seconds and then realized, who cares? I don't really car if the battery technology doubles in the next four years. If my car still does what they told me it would do, that's fine by me. I don't need the latest tech, just need a product to do what it says it would. And the minute I buy a car, I assume it's worth zero. That way I don't worry about depreciation and if I ever need to sell it and get anything for it, it's a win.

daveo4porsche

I've owned the following EV's

Ford Focus EV - lemon - no $$ lost
2013 Tesla Model S P85 - 26,000 mile - sale price was equal to or better than ICE depreciation - no bath taken
2014 Tesla Model S P85D - 56,000 miles - salve price was equal to or better than ICE depreciations - swapped for $0 into new 2018 Model 3 Performance - no bath taken
2016 Tesla Model X P90D - Lemon - no $$$ lost
2017 Tesla Model X P100D - trade in value was fair and consistent with any large expensive SUV with 4 years old 54,000 miles - no bath taken
2018 Tesla Model 3 Performance - traded in for Taycan - dealer low balled me on the trade in - I accepted cause I was lazy - 100% confident could've done well with private party sale but was too much hassel
2011 Nissan Left - bought used - $5k, sold used $2k trade in on 2019 Bolt - battery was mostly dead cause Nissan and Leafs SUCK - feel that car was not a good value - maybe a little more loss there than ICE
2017 Bolt Premiire - lease - happy with cost and turn in
2019 Bolt Premire - will ikely lemon due to current battery fires/recall - this is in process at this time.

nothing in any of the 9 EV's listed above bought/sold at depreciation/costs levels that would not be similar to equivalent ICE vehicles - certainly nothing statistically significant - and i fyou look at used EV values they are particularly cheap vs. new either - 2011/2012 Nissan Leafs with "new" factory batteries replaced for free with Nissan recall are down right expensive and demand a premium

I don't htink the depreciation is worse for EV's - it just generally sucks to buy expensive cars and it's not normally a good idea money wise. But my experience has been it's no worse than gas cars.

AlexCeres

Other factor is sedans and sports cars tend to depreciate differently. Panamera vs 911. And the gt4 market is pretty hot right now, so I wouldn’t set your sedan expectations by it. Was discussing another deal with me dealer and he noticed I came in a gt4. Not joking he said he’d buy it off me then and there. Sorry man, it’s too much fun. I told him I would for a gt3 allocation. We both laughed and went back to the subject at hand.

Zcd1

This of course is a never-ending quandary - newer tech will always surpass older, so there's no getting ahead of it - you just decide when to put your stake in the ground and go from there.

Case in point: there's already a car on the market that easily out-gut-punches a 992 Turbo S...and it's at least $60K less expensive.

mikeearly

I believe it is a truism that it will be better next year. It doesn't matter if the question is asked this year, next year or 20 years from now. If the car is still being produced, it will be better (technology wise) that it was the year before. If you are going to worry about getting the absolute latest technology then you should NEVER get in the market because no matter when you buy it will be better shortly.

mb1

I agree with much of what is stated by you and others, but I think that there's a difference between chasing the latest computer/phone tech and chasing EV car tech. Computer and phone tech is a relatively mature market. Yearly advances are small. Compare iPhones year to year. Small advances in speed, memory, camera etc. Very few new computer and phone vendors. It's a very different situation with EVs. Various established car manufacturers are unveiling new EV products on a weekly basis. In addition, completely new car manufacturers are appearing almost out of nowhere. Rivian, Lucid, Rimac. I think the EV market is very immature and there will be huge changes in the landscape over the next few years. I do think that new EVs are at risk for huge depreciation, but I completely agree with Archimedes. I consider my current vehicles to be worth very little, and whatever I get as a trade-in will be a bonus. I don't buy my cars worrying about their inevitable depreciation.

Driv200

Great feedback and thank you. Daveo, I thought you were selling lemonade for a minute. Ha! Great comparisons and experience to pull from.

I think I got a few good take aways. I was more focused on value retainment more than the technology itself.

Thank You.

AlexCeres

seriously. Daveo has personally lemon'd more cars in his life than everyone in my extended family ...

Cheshi143

Here is a list of the EV’s I have owned/leased/driven:

2013 Nissan Leaf (lease)
2015 Honda Fit EV (company car)
2016 Fiat 500e (lease/total loss in collision)
2016 Fiat 500e (lease)
2016 Fiat 500e (lease)
2013 VW eGolf (lease)
2018 Audi eTron (lease)
2017 Fiat 500e (purchase outright)
2021 Taycan RWD (lease)

Each of these cars were a lease using various tax credits available to offset lease cap reduction and/or drive off costs.

Leaf was originally purchased for my daughter and was a military special of $2500 drive off (they kept the rebate) and $199 per month. Only had a range of 85 miles, but that was perfect for my daughter. One way trip to school was 13 miles, took 1 hour by bus, 15 minutes by electric car and got front row free college parking (invaluable).

Fit EV was a company car to be shared by whatever employee wanted it. 85 mile range and was pretty quick. Did not handle very well, not comfortable to drive. Was free and easy to charge. I only drove it for HOV access to save over an hour off of a 30 mile commute.

Fiat EV's were purchased under a crazy lease special, $500 drive off (they kept Fed tax credit) and $69 per month. The residual was HUGE but we had not intentions on keeping, there was also CA State credits in excess of $4K at the time that we qualified for. Car and insurance was essentially free. Bought one for my daughter and another for my mother-in-law. My daughter's got totaled when hit at a stoplight so we gave he my mother-in-laws. My daughter drove that one until the end of the lease and we turned back in. She loved the simplicity of the car so much I gave her $8,000 to buy one outright that had come off of lease.

VW Golf, I bought this for SoCal commute as I did not like driving the Fit. Car was great, only 85 mile range but the car fee 100% like a VW and I loved it. Was really fast for the first couple of months, but then VW did a software update that reduced quite a bit of torque. Drive until the end of lease. I think we paid a $2500 drive off (they kept the tax credit) and our monthly was $330. Was totally with it.

Audi eTron Sportback, wife fell in love with the looks and wanted it to go back and forth up the I-5 to take care of her ailing father. Car was pretty expensive at $47K but she did not care. Was a great car is it would get 500 miles range on about 10 gallons of gas. Drove car until end of lease and gave back.

Taycan RWD. Was expensive ($110K+) and looks beautiful. We have driven less than 1K miles since late May when it arrived. Car is awesome and will never be considered a deal like the other EVs we had were. It is a big body sedan Porsche and WILL depreciate for sure. Depreciation is a guaranteed 50% in the first 2 years as they do not have a good residual. Only way to offset that will be if the production stays limited because of global pandemic, even at that case, will need to replace it eventually and that will be costly too.

daveyator

Bought our 2014 500e like idiots. Should've leased like above. 31K I think it was. Just sold it for 7K thanks to the pandemic. In late 2018 we would've been lucky to get 4.5K for it. I'm fairly sure once more EVs become available they'll depreciate like rocks.

KenTO

With Porsche Financial Services depreciation was 49% after 3 years, why I leased as I feel the tech improvements that will be made in 3 year increments will be huge, reducing the residual and demand for older models.

nycebo

Range only matters if you're driving long distances daily. For most people, 200 miles a day and charging in the garage is perfect. Heck, my 911 only got slightly better than 225 miles on a tank and I had to drive to a gas station to fill it up. By contrast, the Taycan is in a different league.

Now the software on the other hand....