Recent Valuation 30% of what I paid less than 2 years years ago...!

[gdog]

I'm part of Dala's Discord and while it's just a few of us DIYing solutions in the UK there are also a variety of people in other countries starting up businesses providing off-grid systems built around second life batteries. Safety is discussed often and even when talking about LFP the current guidelines strongly advocate positioning the battery in an outhouse or other container where there is no risk to a home. Indeed, one of the arguments for using a pack from a vehicle over a 48V system is that the car's BMS has more safety features than many off the shelf batteries. Splitting packs is again discouraged if it can be avoided.

Interestingly no-one we know of is currently running an MG battery as a home storage battery, although a few are working on it. Despite MG getting slammed for reliability last year, there are far fewer crash-damaged MGs showing up at auction than Teslas, Leafs or Hyundais.

There's a guy on YouTube recently. Rents/leases shipping type containers filled with second hand EV battery packs to power rapid chargers. The EV battery's are then trickle charged at 32 amps from grid. Brilliant idea to avoid DNO connection delays / problems

 

[craggy]

I happened to look into a few options for selling my car recently and was extremely shocked to find the basic valuation was maximum £12,000 from an online car sales website, when the car is £34,000 new!
I paid slightly less than this as it was a showroom model, however, this valuation is almost a third of what the car is worth new. In less than two years!? How is this even possible?

I was expecting an evaluation somewhere between £22,000-25,000...?

I did a similar thing last week and £12k was about the price. 2 year old Trophy 30k miles. It’ll be going back at the end of the PCP. As they guarantee £14k final price. It’s a lot to do with them Discontinuing the MG5 in favour of the new MG4 estate coming soon and clearing all remaining stock at massive discounts 10-15k off.

 

[Paulie68]

I did a similar thing last week and £12k was about the price. 2 year old Trophy 30k miles. It’ll be going back at the end of the PCP. As they guarantee £14k final price. It’s a lot to do with them Discontinuing the MG5 in favour of the new MG4 estate coming soon and clearing all remaining stock at massive discounts 10-15k off.

That's all correct apart from the MG4 estate. Management have confirmed there isn't one coming, they've decided the market for one is too small.

 

[domwild]

I happened to look into a few options for selling my car recently and was extremely shocked to find the basic valuation was maximum £12,000 from an online car sales website, when the car is £34,000 new!
I paid slightly less than this as it was a showroom model, however, this valuation is almost a third of what the car is worth new. In less than two years!? How is this even possible?

I was expecting an evaluation somewhere between £22,000-25,000...?

Australian situation: Paid AUS$40,000 for MG4 51kWh Excite 2024 model, dealers advertised that model for $31,000 two months later new, perhaps the 2023 model (?), anyway, at the moment an MG4 Excite is selling for $33,000! So brand new models have become $7,000 cheaper! I have always expected EVs to be become cheaper, especially due to lower Nickel and Lithium prices, but by that much?

There is also the competition between BYD and MG guilty for it, BYD makes batteries and MGs use CATL batteries, with the MG4 Excite using a LiFeP batt.

 

[HazardLights]

The best way to deal with depreciation is to hold on to your car as long as possible. I spent £23k on my MG4 trophy long range in September and am content with it especially now that disabling ELK/LKA is just a pull down menu away.

 

[Berkofix]

Unless battery prices fall really dramatically then I imagine scrap prices will be really quite high. In 2035 a LR MG will still have about 40 or 50kWh of battery left which could be useful in many applications.

I saw a MG5 61kwh battery at a breakers on eBay for £1500. It had done 800 miles. Temping for house battery applications. Struck me how cheap that was. Whilst looking for mudflaps on a genuine auto parts site they had a new MG5 battery for £12k.

 

[smokie]

Early adopters often pay a premium on products.

 

[salty]

Early adopters often pay a premium on products.

That's true. I've fell for that a few times. But never lost any sleep over it, though.

 

[Jymbob]

I saw a MG5 61kwh battery at a breakers on eBay for £1500. It had done 800 miles. Temping for house battery applications. Struck me how cheap that was. Whilst looking for mudflaps on a genuine auto parts site they had a new MG5 battery for £12k.

Apparently they're not locked to a particular vehicle (unlike many other manufacturers) so assuming it's not damaged could also be a nice range upgrade for a SR model

 

[kevin ellard]

I saw a MG5 61kwh battery at a breakers on eBay for £1500. It had done 800 miles. Temping for house battery applications. Struck me how cheap that was. Whilst looking for mudflaps on a genuine auto parts site they had a new MG5 battery for £12k.

If it wasn't damaged then that is a real bargain.