How’s resale looking so far for BYDs in Australia?

Does depreciation really matter if you’ll be a long term owner?

I reckon if you bought an Atto 3 a few years ago you'd be disappointed with resale Due to discounts. I reckon we've hit a bit of a floor on prices now so should stabilise.

Grok this query.

Crock of Grok

If you are going to hold any car for 10+ years, you're likely only going to sell it for $10-20K regardless of whether its a japanese, european luxury or Chinese car...

This. What is your timeframe for “long term ownership”?

No disappointment if you don’t plan to sell. I love my little car.

Used Atto 3s seem to be around $30k-$35, I paid $31k for my 2023 model. I think the difference between traditional resale and EV resale will be changes in tech. Being such a new industry, innovations are going to happen. On the plus side mechanically speaking it’s probably going to be safer buying an EV over ICE. Less moving parts, easy replacement, that’s a big factor for used cars.

But the battery, that battery...that 10k replacement cost which simultaneously reduces the resale as the car gets older, ICE vehicles don't suffer the same depreciation as you rarely need to replace an engine. A battery on the other hand will need replacing no matter what, add damage to that and you have a very big liability when.purchasing second hand

An LFP battery can easily last 500k km, with 80% capacity still remaining. A similar sized petrol run around certainly won’t be holding any value after 10’years and hundreds of thousands of kms… this argument has been debunked countless times now.

When an ICE car has done a few hundred thousand, there’s probably not much mechanically that hasn’t been replaced, repaired, tinkered etc. I’m talking hoses, plugs, belts, alternators, transmission etc. add on all the servicing and what’s the total cost over the life? Then if your engine blows what’s the cost there? Replace a battery in an EV and you’re golden - new range, new tech etc (possibly even a warranty?) and it’s $10k today. Those prices will drop.

There's more reasons to think resale won't be great, but I still replaced both our household's cars with BYDs. If the novated lease FBT exemptions go, that should logically increase prices across the board. If BYD Blade 2 batteries comes out soon that'll drop used prices for current Blade 1 battery cars. If solid state batteries go mainstream demand for all used EVs without them will drop. More reasons to suggest they won't have amazing resale but you asked relative to other EVs. I'd say BYD would fair well against other EVs. Against an ICE car it'll depreciate faster.

Have a look at Carsales for used BYDs, they're listed at pretty normal prices for second hand cars. The crazy depreciation you hear about online isn't happening in real life. I kind of wish it was, because I'd love a bargain second hand BYD to replace my other car.

There is a myth around EV depreciation which came about a few years back when Tesla dropped their prices 25% overnight. This had nothing to do with depreciation and a whole lot to do with the introduction of reasonably priced competitors like BYD. BYD's depreciation policy is not to give massive discounts to fleet buyers like legacy manufacturers do. These discounted fleet vehicles flood the market after a couple of years and this hurts private buyers who paid full price when they go to sell.

If it's long term ownership, which I classify as around 10 years or more, depreciation isn't really a thing imho. By that point it's really a case of get what you get. Meanwhile I've now seen three people who have looked at second hand Atto 3's complain that they aren't depreciating fast enough. It seems 2-3 years old with 40-60k km is sitting in the 32-34k price range. One purchased the others cracked it that they weren't cheap enough and got other things. I suspect that it's a combination of the chassis and technology, especially the battery starting to prove out as being reliable and not degrading in the way that the nay-sayers in the media are trying to get everyone to believe. Heck I'm 45,000km and 16 months in on my Atto 3 and the only note Ive had so far is that I'll probably need a new set of wiper blades at the 60,000km service. Battery is at 97% health and I'm yet to see any drop in range in the real world because of it.

I dont think EV & long term belong in the same sentence.

Got a 2023 Atto 3 Extended with a perfect service history and no inspection faults for $32k, happy with that. Its $51k new.

Not a BYD, but my model 3 will be 10 years old in 3years and the most money I have spent on it was repairing the scratched mags and replacing a quarter panel. It won’t be worth much by then but I’ve got my moneys worth out of it

Early atto 3 (2022) with over 100k km are going low $20k no doubt will dip into the teens by years end

Big factor in the issue. The average ICE car goes up by a few thousand a year for new price. The average EV price going down.

EV resales are poor in general as per used car lot owners @jerry from Melb

Buying a used EV has to be such a gamble as you don't know how it's been charged and what state of charge the battery has been consistently left in and with costs of replacement batteries that's too much of a gamble for me

In my experience as an EV technician you aren't going to see many of any at all batteries lasting anywhere near 500k km

Current EVs the batteries are all generally going to outlast the the car. They are a much much safer bet than an ice probability wise. Yes 100% worth doing a soh with a OBD2. But any thinking that they need replacement batteries frequently is just fud. Original EVs did more frequently have issues now the issue is the Murdoch "journalism"

I paid the same for my 2023 model with 27k km.

I ran my i30 for 310,000 and never replaced an alternator or belts. Replaced one sensor, the crank sensor. And the plugs along with the control arm bushings. I did it all myself and saved a fortune. So not sure where you got your information from regarding ICE cars. I'm not a mechanic, but know the trans will go before the engine lifts a head and this is all my first hand experience with a 2012 i30 active hatchback.

and my i30 had to go to the wreckers 3 months after the warranty ran out with 70k on the clock Can't really make broad sweeping statements because one car did or didnt do well

Not my experience as an EV technician

I agree, not all cars are equal but combustion engines are still viable for most people, and I guess a habit still. What happened to the i30 to be at the wreckers? You need to elaborate or its bs. Mine was in an accident, otherwise I'd still be driving that car into the ground.

theres an entire class action going on currently involving Hyundai engines. Its been public knowledge for ages For me specifically. The oil was full of metal fragments. 2.5k for Hyundai to diagnose wether it was fixable and they wouldnt be able to tell me if it would be covered under good will untill they had diagnosed it. they quoted me 23k for a full engine replacement which is the funniest thing ive ever seen. The cunts had the nerve to complete my service before telling me as well so I got to pay for that too.

Meh, my Atto 3 was around $52k 3 years ago, and would probably sell for $32k today. Whilst that $20k hurts, most other EVs haven't faired much better and when compared to ICE if you factor in running cost savings its all moot. New cars are pretty much always a bad financial decision. BYD's aren't really any worse than other brands from what I can tell.

Used EV's are a FAR less risky purchase than used ICE. Seriously the worst you can do to an EV is frequently discharge to 0% and/or charge to 100% - but the computers don't actually let you get right to 0% or 100% as there is a built in buffer, so any damage is minimised. Such a scenario would be very rare as well. State of health can also be measured pretty easily on most brands. ICE on the other hand is very dependent on regular servicing, as well as how they are driven. Full throttle from cold in an EV? No problem. In an ICE? Asking for extra wear. It's not even close.

LMAO, the depreciation is massive, even IF you could find a buyer. Chinese steel which is probably rusting the whole time they are sitting in storage until someone is silly enough to buy it “new”. The battery is degrading that whole time too. Then there are the ants….

Yeah i get all that, its more the price drop on that model from when it first launched that would be driving the higher than normal depreciation. Same would apply to any model even ICE cars. The benefit of the FBT discount on EVs means ICE would be even more expensive.

Oh, it is DEFINITELY happening in real life. Listing prices are not sold prices.

Can you provide some examples of sold prices? I'd love to get a cheap second EV.

this, I think the biggest factor is in 5-10 years the battery chemistry will likely to change and whatever we have now would be obsolete- but then again, if you drive a lot you pretty much got your money's worth long before. One of my mates drives an atto 3 and he's doing close to 30k km per year, the petrol saving he got for 3 years is pretty much the cost of the car itself...

that's extremely optimistic - we got a high trim Tiguan which we paid 50k+ back in 2014 (so 11 years old) and we talked to the dealer they only would pay 5k, and we ended up selling it privately for 8.5k. This is a car that we only ever drove for weekend trips (we have a golf as well for driving to work and KFC runs), and we only clocked 95k km in 11 years, never a single incident and all services done at the dealership, still we only got 8.5k back. Cars will depreciate, that's just how it is.

Don't come in here with reality and common sense, you'll destroy the fan boys delusions

Tiguan 95kkm for 8.5k?? Whoever got it got a bargain. Dealer was offering my Polo GTi 11yo 120k km for $5k as well. Sold privately for $11.5

I’ll take the bait - why not?

It doesn’t. It do matter for people who want to score a good second hand deal though.

Seems like the Chinese didn’t get the message. ´Looking at over 20,000 used EV sales in China, the analysis showed that the value of those vehicles dropped by an average of 45% after a year, 58% after two years and 67% after three years. That’s much faster than depreciation of comparable internal combustion vehicles, which fell 25%, 30% and 40% over the same time period.´ https://about.bnef.com/insights/clean-transport/nobody-wants-chinas-used-evs/

Battery tech not up to scratch yet.

Hold value? I would highly recommend buying gold if that is your goal, but then of course you cannot travel about on a bullion

And, they are a smart device on wheels. No smart device is designed to last long term. The companies need high turn over.

not up to scratch why? If they can average over 250,000km they’ll pretty much have parity with ICE vehicles. The current gen LFP batteries should do that easily

Yep, I keep my cars a minimum of 12 years before I think about selling them, they’re pretty well depreciated by then. The difference is usually negligible no matter what car it is in that the only value for the buyer is “has 4 wheels and drives”. The benefit to the Chinese cars is the upfront savings that would help right at the bottom of this depreciation curve

By dodging the question you've kind of answered it....

Not really. I keep cars until they die. One car is 17yrs old and the other 3yrs. While the purchase price is part decider depreciation really isn’t for me.

Remember that Chinese car maker LDV who claimed in a QLD case that you were not meant to park near the sea!

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They really aren't nor are the motors

Yes that what you call a 27 year qualified mechanical technician who is also EV trained

EVs are s inherently still over priced for early adopters/ novelty factor compared to like ICE so insofar that novelty tax doesn’t much carry into used prices along with the actual prices of the cars are coming down mean owners who sell a 3 year old ev now probably do realise a steep drop But that’s not so do with the inherent value or utility of the cars themselves And on the other teslas 5-10 years old seem to inexplicably hold their value

Very much not the norm

I just don't understand this. Isn't the point of buying an EV to save money? You've just admitted burning $20K in 3 years (assuming you paid cash for it of course). That is *a lot more* than running a similar 2nd hand petrol car.

I’ve also saved probably $5k in that time on petrol and servicing. Would a 3 year old ICE that was purchased for $52k be worth more than $37k? And those savings will continue throughout the vehicles life. If it’s not already better financially, it will eventually be.

A dealer would sell that Tiguan for 15k in our current car market.

huh? I don't know what coolaids you are drinking but give me one example where 2nd hand ICE car is more expensive than brand new...

we tried, on both fb market and car sales, you get a LOT of scam calls and messages and every man and his dog wants to just take the car and drive away. Then the rest are low ballers. so we sold to a licensed private car dealer. The sad reality is, once a car crosses the 10 year mark, none of the dealers would take it. That's what the vw dealership told us (and that's where we bought it originally) when we tried to trade it in for an ID4...

You missed my point. The OP points to Tesla resale values being poor because new prices go down. ICE resale looks really good because the price to replace with new has gone up significantly a 2020 base RAV4 auto was 34k a 2025 equivalent was $42k. Change over costs might not be much different between EV and ICE if you are changing vehicles every few years for similar vehicle but being irrational the ‘lost $XXX from new price’ stings

Could be the difference between 5k and 9k. But cars arent

Older euro cars don't have that good resale

That’s how I roll too. The Ford did die at 8 years. Byd is on year 1. Daihatsu I handed down to a relative at year 9 is still going at year 18.

Ford Ecoboost wet belt pos says otherwise

curious exactly which cars have you seen that you are basing this off? Don't say Nissan.

What the residual on a 3 year Novated Lease vs the price of a 3 year old BYD. There will be heaps coming off lease in the next year or two….. Market Position: The Atto 3 holds roughly 54% of its new car price, with 2023/2024 models commonly found in the mid-to-high \(\$20k\) range Private Prices $25,350 - $31,850 Trade In Prices $19,850 - $26,350 Price When New $48,011 Price Guide (EGC) From Redbook

When the warranty expires?

So 6Y (150,000km) or 8Y (160,000km) on battery?

Lol

Go to Carsales and do a BYD search. Set the parameters to 10,000 to say 40,000 kms and judge for yourself.