@Glos_Guy I can’t see APs coming down until second hand prices stabilise.
What we’ve seen, in terms of used prices, over the last 5 years is highly unusual. With Covid and the following chip supply problems 3 year old cars weren’t far from brand new prices, year old cars were usually making a profit over new. Then, once supply caught up, there was a correction. Somehow that correction was misinterpreted into a lack of confidence and used EV prices fell to pretty much ridiculous levels. We went from small losses after 3 years to 50% to, in some cases, 75% reductions in 3 years. That perceived lack of confidence has, kind of, become a self fulfilling prophecy, as nobody wants to buy a car that could be worthless after a further 3 years. Then there’s that whole 7/8 year high voltage warranty issue, where nobody really has significant evidence of an 8 year old EV having a decent battery capacity, not helped by current 8 year old EVs having a WLTP range below 200 miles when new. What was expected was a further correction back to the usual 3 year depreciation levels, it’s unclear whether all EVs are there yet.
Without the Tesla price dropping problem, the future value isn’t certain just yet, so Motability will price conservatively (from their point of view) for the foreseeable future. Tesla has a tendency of increasing demand by price dropping in significant amounts. That automatically impacts used prices and could further cause Motability issues.
So, while there are cheaper new retail prices and some competition and quota pressures on these prices, used prices won’t be raising any time soon.
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