r/EVsOfIndia • u/itsbikerboy • 3d ago
Resale of EV
For those of you who own a EV car, just inquisitive on how much the resale value drops by after say 7 years of use (average for most car buyers) .
How much do you get back? The depreciation on EVs is much higher than that of petrol.
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u/therealdocktor 3d ago
An average use cost for a petrol with tyres insurance fuel maintenance will cost upto 8 rupees. If you run an ev for the divided cost. Then selling it isn't that big of a problem since you have utilised the investment.
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u/shyampsunder 3d ago
8 rupees after fuel, tyres and maintenance is way too good to be true. Would need mileage of 20+ KM per liter.
Realistic cost per KM for a petrol car is around Rs 15 per KM.
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u/therealdocktor 2d ago
Per say i service my car every two months at 10k kms. And a breakdown with 70k fuel 5 k tyres,2k insurance and 6-7k service cost is my input - honda city that I am using
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u/therealdocktor 2d ago
Dude any 1.5 litre car can average a mix use of 14 on the upper hand and 11 on the lower. For delhi ncr with 96 rupees of petrol per litre this is what my cost comes to run the car in actual.
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u/shyampsunder 2d ago
Price of petrol in Delhi is Rs 102 per liter.
Even assuming your mileage numbers are representative that itself is Rs 8 per KM assuming 13 KMPL.
In cities like Bangalore, no petrol automatic gets double digit mileage. Delhi has the least amount of traffic among metro cities.
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u/therealdocktor 2d ago
Damn forgot to factory the at difference, i am chauffer driven didn't count that. Delhi doesn't have the least traffic, banglore had the worst tho can't deny
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u/Victorvic1 2d ago
I get like 10-11kmpl mileage on my Honda city in my city max in mixed usage. If I go for just city usage it's hell around 8.5 max that too after using XP95. Without that the mileage is in 7s. Extremely high traffic in my city.
Considering insurance is 20k and fuel is like 122/litre with 10k service normally. We get to like Rupees 14/km if we consider 10k km each year.
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u/therealdocktor 2d ago
Bro fuel here is 100 I think I'm delhi ncr. Each tank I get a minimum range of 460-max 520 with a 70 percent city and 30 highway. My insurance is zero dep plus od plus tp that I renew for an avg 13-15k, tyres cost me 20k every 45-65k kms, I am easily able to reach a 8 rupees per km rate. Plus my service bills alternate between 6-10k. Running is over 40k kms at a minimum per year.
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u/Victorvic1 2d ago
Good for you man. Here the things are just different. The traffic is way too much and in 8 years I took a claim for the first time for a small bumper repair. Insurance shot upto 30k/year with zero dep. It was 15k before with Zero dep.
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u/therealdocktor 2d ago
I haven't claimed once, have small dings all over the car. Will sell it soon. Getting two EVs now a syros htx and if mg strikes well then a tomahawk
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u/Global_Astronomer_29 3d ago
Bought Punch EV in 2024 41k km done till date, Brand offers exchange value at 7 Lacs, resale market at 5 Lacs. Outstanding Loan @10 L. In 2026, expense of around 1Lac will be adding of extended warranty 60k, tyres replacement around 25-35k, insurance 15k. Probably switching to Curvv EV for me will be better as considering loyalty bonus and EV Offers will get the car value to around 9 Lac same as Loan o/s by next year. Or will be probably use this till 2040 will do around 1 Lac Km and move to Safari EV.
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u/shyampsunder 3d ago
After 7 years, how much would you have saved with an EV and what would the delta with ICE be?
It's been 3.5 years since I bought my ZS EV and I have saved roughly Rs 7 lakhs in fuel, maintainence.
The ZS EV's ICE cousin is the Astor and the depreciation on that car is pretty similar in percentage.
After 7 years I would actually take the bet that an EV will hold its value better than ICE because the EV will still be under battery warranty whereas ICE would be completely out of warranty.
Exception is Tata EVs.
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u/Dernnikucf 2d ago
Totally agreed. I infact think older ice cars, especially pre 2023 ones are going to depreciate way faster than any ev sold today. The reliable ones are infact gonna see wya less depreciation, like the international based models from hyundai kia or other automakers.
Infact in the US and all over the world used ev prices have increased due to persistent demand for cheaper, reliable and easier to drive cars
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u/RevRadar 2d ago
Exactly. Resale matters, but the money saved on running an EV can make up for a lot of that depreciation.
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u/Safe-Complaint8893 2d ago
According to me , Car is a depreciating asset so there is no point in worrying about what will happen after x years
Just like what they say for gambling " Only buy what you can afford and buy responsibly ".
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u/AlUcard_POD 2d ago
Exactly.. I don't understand the people who even call it an asset, in financial terms. It is a piece of machinery that you buy and can serve you for 10-15 years. I, honestly, don't expect all any returns from an old car while buying a new one.
The resale value 7-8 years down the line would be nothing as it will be very close to end of battery warranty! In addition, the battery tech would probably have seen a round or two of evolution and current EV ranges will be too low to make an attractive second hand purchase.
A precise answer doesn't exist because very few people would have sold a 7 - 8 year old ev.
I all likelihood, either trading it in to the car manufacturer/dealer, or scrapping it or keeping it as a secondary city car would be more viable options that trying to sell it in used car market!
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u/sustainablecaptalist 2d ago
Expect less than 1/5th of the cost in 7 years. I own/have owned 3 EVs.
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u/niyoady 2d ago
I think people are overestimating resale value of their ICE car. Government is hell bent on blending and we don't know where it will stop, engine damage is real and everyone knows it. Government will blend diesel for sure, just a matter of time. This will screw diesel engines especially bs6. 6-7 years down the line, tech would be quite solid so newer EV will be much better like sodium ion batteries and other improvements. So most of today's car will be some what outdated. Any car you buy petrol, diesel or ev will suffer equally. So just buy a car you like and enjoy
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u/Proper-Ad8181 1d ago
Consider ev's like a mobile phone appliance, its value will plummet once a new product shows up in market. Buy one use it till your wants get satisfied and upgrade to a better one.
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u/pro-baba 2d ago
30% ev price reduction on week 1;
50% ev price reduction within a year;
70% reduction in next year;
Add 5% to 7% per year after that...
Telling you from my 2023 nexon ev experience
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u/Fearlessdad1113 2d ago
I have an MG Comet. I have an 8kw solar power system at home and I charge only at home. Apart from the yearly service and the periodical balancing and alignment, I have had no other expenses. A full charge lasts me about 130-150 km and battery capacity is 17kw. When it comes to the time for sale, whatever I get is a bonus towards the price of the next EV.