Catastrophic EV Depreciation may not affect you, but what about the Leasing Company? 

Very interesting and full of good old fashioned common sense.

Barrie tells the truth. Thank God someone finally does!

Theres nothing wrong with owning a EV if it suits the owner but for the government to say we all have to have one was always going to fail, let the consumer decide, Nice to hear the truth from within the industry Cheers Barrie👍

Everything you say makes sense 👏👏

Interesting, a few points I never thought about.

Every time governments try to interfere or control the marketplace for a product it ends in tears and EVs are no exception

Well done for covering this barrie. I've been banging on about depreciation being overlooked for ages.

Barrie! Good sound (louder). No ads. Hey hey! Quality production...

“Dogs make me happy people make my head hurt” - couldn’t agree more

Hahahahaha Barry I had to like your video when you said i don’t like people,

Thanks Barrie for your no nonsense tell it like it is insight.

I love the fact that your desk doesn't have a computer on it, so nice, takes me back to my good old days. While listening to you thoughts of Reggie Perrin keep popping in. EVs are like those robot lawn mowers that you set going which end up in next doors full of guinea pig twitching and vibrating under the rabbit hutch, no joke.

My 73 plate polestar has had 4 new tires at 15k miles as the foam inside the tires has failed causing the car to vibrate at motorway speeds. The cost was covered as it's a company car but a private owner would be looking at £1000 easily. The tires had loads of tread as I spend my days sat on the M6, not very good for the environment binning them! Also looking at wbac it's valued at £22k at 1 year old. The new price was £55k!!

What a refreshing dose of commonsense...keep it coming mate👍

"hell is other people" JP Sartre. I am with you Barrie. Just watch TV today.

You should do a collab with RSymons (RSEV). He makes a living selling EVs!

Barrie, You get a 10 out of 10 for not selling Matt coloured cars, they look bloody awful, all a Matt coloured car says to me is they have more money than sense, so sad to see them destroy a nice car in that way.

Why were the highly paid executives of the lease companies unable to realise that when large incentives are available on new cars that that would affect resale values?

Knowing the price a lease company potentially pays for each vehicle then they get income from the lease contract write off depreciation and each car has a sale value I am sure they are still making money, maybe just not as much as on other cars. Just cos the EV segment of the market might return a loss others will make plenty so all in all its a win win.

Wrong, nobody buys EVs, but most people lease EVs...But it's true, manufacturers are desperate to sell but people don't buy EVs so instead the car manufacturers offering people huge discounts to get them either into PCP or PCH mostly..but I agree with Barrie this isn't sustainable in the long run,the market will implode at some point in the future....

O.M.G. Barrie, I love your content, tonight's was some of the Best I've ever seen on You Tube, The hardest thing I found hard to believe is that you don't like people as you seem so likeable yourself, Here you are helping and educating others, I'm a Brit your age living in the States, I've been in the car biz for most of my life, I see the frustration and Honesty pouring from your heart, people like myself understand every word, sadly there are fools out there that moan about the auto trade, they haven't a clue. I loved your rant about Mr Martin with the Zoe, so who's going to have the last laugh, lol. He is not impressing anyone in the car business I know lol. I've been expecting lease companies to fail, its sad as it hurts us all in one way or another, Anyone in Insurance was a fool to give Onto more money, surely with them in the risk business they could see the writing on the wall months ago, you and I knew what was coming and here we are.

The whole scenario of EV marketing affects us ALL, whether we own one or not. EVs purchased by companies in UK are written off against profits 100% in the year of purchase. This means the whole cost displaces tax that would have been paid on those profits. This means more tax has to be found from somewhere else. i.e. From us. Ordinary taxpayers. We are paying for corporate EV expenditure even if we don't have one ourselves! By all means give 100% allowance on machinery that actually makes something but it's not needed just to give directors a fancy car to ride around in.

Leasing is just financing the depreciation over a set period and mileage and hopefully the leasing company make a profit when you return the car.

I see the large leasing companies are desperately try to re-lease EVs for a second term at lower costs but its not going well.

All the people I know who have privately bought an EV have a big disposable income. Or have recently received a decent pension payout. The cost of remote charging is largely irrelevant to them. People have a choice of buying whatever they like in a free market. Or at least used to... I don't think it is right that there is a gov mandate forcing the market towards EVs. Interesting vid.

I love some of these plonkers who fall for lease payments, they drop £2400 down as a deposit on a 24 month lease and cant see that the car is actually costing them £100 per month more than they think, simple math but people just don't see it.

Its about 20-30% ice vehicles and 60% evs that are leased. Leasing is up across the board. Im not hearing anyone speak about fleet leasing exposure to ice residuals plumeting once they are outlawd or taxed to dearh.

Barry how will the collapsing EV residuals affect the PCP in play now. Presumably it will affect /remove the balloon payment at the end of PCP. Will they increase the monthly payment mid term?

So there are some great deals to be had if you want to buy a used EV.

Salary Sacrifice is NOT as good as it seems, it's a work-around & sold as way to drive a new EV Look up the Gross Monthly Amount, then sold to you as the net amount after offsetting the tax It's offered for EV's & some Hybrids & pushed as you saving £200 per month etc... But that £200 saving/offset tax = £2,400 pa lost to taxman, which then everybody else picks up the tab (it's another green incentive that in the end everybody is paying for) You'll pay your £400 or so per month (take home), or 5 grand a year for your EV or £15,000 over 3 Plus the £7,500 offset from tax. lost to public purse, that we'll all end up paying... There's £22,500 covering the depreciation of said EV "But depreciation doesn't matter to me...." But you've just funded the car's depreciation, without fully realising it You signed on the dotted line, without actually running the maths over the period (You probably believe the DFS "sale" will end soon & must act fast) You didn't realise just how much you would actually pay of the 3 year or so period, you just saw the £200 tax "SAVING" and thought where do I sign and you may later learn this offsetting the tax, could impact your pension contributions & other factors Before you sign up for it, really do your homework & double check the figures/cost over the period Consider looking at buying an ex-salary/leased vehicle after somebody else has funded most of the depreciation It's not as bad as ye olde endowment mortgage, but it isn't quite as good as it's presented/sold to you (Took up the Salary scheme, reality kicked in, managed to hand it back & bought a s/hand EV cheaply instead)

I leased a Hyundai i30 diesel back in 2016 needed a cheap reliable car for a couple of years £500 deposit and £115 a month from a main Hyundai dealer they told me they made £0 on this deal it was for sales figures for a larger manufacturers discount bonus

The only thing we can say is that used ICE car prices have stabilized. 🤣

I drive a 2009 toyota iq it cost next to nothing to run it cost nothing to tax it cost 175 to insurance it cost me 2000 the kind of money you are talking for a ice car or a ev car are just nut to me . And also very worying😮

The existing motor trade vehicle will be finished in a few years time. There has been for years a generally accepted path for a new car. First owner then 2/3 yrs later 2nd owner which gets the car into the 5-10 yr old bracket. Still a market for it so it's the smaller used car dealers or private sales that take over and, depending on mileage/condition, the values tend to stabilise until the car eventually needs too much spending on it. What has kept cars going at the lower end is zero or cheap tax and you sometimes used to get that little hatchback that was a final retirement runaround or second car. We now have a forced method of trying to sell expensive cars on people who can't afford them and/or just don't want them. There should be no "forced artificial" deadline. If we got cars that people could afford like the small hatchback types and they ran alongside ICE cars eventually ev's may have a future. My money is on a small car that is a bit quicker than the ami eg 50/60 mph with a range of 100/150 miles in the £10k range. Oh and no tech lol. When the Ami came out its "oh if only it was a bit faster or a better range". If the Chinese could bring in their mini cars they would fit the bill BUT as was proved with Chinese motorcycles they need to be of good quality and have a dealer network so that the customer is not stranded. Even the Ami is restricted on dealers. I have 2 Citroen dealers within 10 miles but they don't deal in the Ami. Instead my nearest is 25 miles away which is bad enough but all on main roads on a car restricted to 28 mph?? plus hills etc no thanks. To me they should have looked at fork truck dealers or even auto electricians as repair centres and sold the Ami direct to the customer possibly through the high st not the Citroen garages. There you go Barrie new idea for you lol

Honey monster now considers himself a car trader! 😂

I find it hard to beleive you hate people, when you clearly look after your customers very fairly

You don’t need to worry about leasing company. If they can not make money they will not be in the business - they are not stupid.

Fund people annoying, ev's massively overpriced, over pushed by Evangelists, so combined i agree wuth you 🎉

Barrie Baba is doling out the justice again 😂

There's a guy on tube who shows latest leasing deals, his latest video showed an electric Corsa which he thought was a great deal, It was around £10k over 3 years, on auto trader you can get a 2 year old one with tiny miles for around £8.5k, and have it for as long as you wanted, it made no sense to me to lease that car.

Is it deprecation or overcharging? Cost is a factor ICE or EV. ICE has a cost built in as part of that money must be offset by BEV or a certificate for a sold EV (e.g. buy certificate from TESLA.) Manufacturers must sell a percentage of ZEVs each year increasing over time until 100% is reached in 2035. Failing to meet the (MANDATORY TOP DOWN IMPOSED) target will have to ‘trade’ certificates with TESLA or other manufacturers who have exceeded target, or will be charged £15000 per car (bye bye Fiesta.) Separate targets for CO2 emissions to regulate non-ZEVs and make the engines more complex and less reliable. I'm not sure how you thought we'd get to the happy stage? First, we must own nothing.

Tesla are doing 3 year deals at £299 a month, where's the high levels of depreciation? Not just them Leaseloco have quite a few under £300.

I knew this last year when I went to change my 3 year old car. I change every 3 or 4 years as I cant stand all the mot nonsense. I always buy cheap automatic cars, including picantos hyundai dacia mg anything cheap with a decent warranty Im not a fussy car owner -. I just want to start drive and stop. I went to several garages to look at cars. Eventually picked one and was told I would have to wait 10 months to get one in automatic, or I could have the EV in 3 days. Evs are perfect for my wife but not for me I do several 400mile round long journeys each month. I elected to wait as an ev would not do the job. At every stage I was pushed to obtain the car on finance particularly a PCP. I always tease the salesguys going oh yes that sound great, then at the last moment I pay cash. The car market has gone stupid due to greed and government nonsense.

Tesla will just benefit from this , offering big discounts on their cars and people will jump ar the opportunity... However, the internal combustion engine cars are done and dusted in my opinion,its just a matter of time...

I think the whole country has got problems ahead and EV's are just one of them. We need some real engineers in government to manage decisions. With the highest cost of Electricity it's worrying. Having just returned from the US last week I was amased at the cheapness of electricity and petrol so we will never become competitive. Buying Chinese products including cars made using their vast amount of coal power stations what we do in the UK makes no difference to climate change. Perhaps stop buying new cars altogether and keep our old cars running longer.

A good way to think of an EV is compare it to an expensive, life like sex doll. Its has some advantages over a real woman , but nobody wants a second hand one and its got zero personality.

The EV market is DEAD 💀💀💀🇬🇧🇬🇧. PS,, TOXIC 🔥🔥🔥

Why the hell should I care that a finance company or a motor dealer isn’t doing well as long as I got a great deal

Nobody actually wants EVs.

Just found this guy on RU-vid and he says he’s not anti ev but his bitterness towards them oozes out of the screen. I don’t have an ev never had one but a balanced view on them and ice cars would be welcome. He sounds depressed with the market and his buisness and he sounds like he doesn’t like people great combination for selling cars. ☹️

Blame it all on the EVs... that's right...

Depreciation or not, you can still lease EVs for a very good prices. The depreciation is none of the users concern

I bought my EV and don't give a fig about going back to fumes. NEVER GOING BACK !!! VOTE BLUE and retain the right TO VOTE !!!. Musk wants you to KNOW YOUR PLACE...... subservience.