We was offered a Twizy today with doors (Tecnic I think the model is) a 2012 plate with 300 miles! for a trade deal. The pool fella purchased this new, I never seen a % hit on a car (Car? I think they call them quads) in that time (30 years in the trade)
Like my other post, the battery cost is an issue for the miles covered, its not looking good for these on the used market, no one wants to touch them.
Another trader who I know, he had a customer for a Audi A1 I have in stock, so it’s would have been part of the deal, The deal did not sit right for my market. Renault offered him £3100, but he needed the A1. Cheers
Twizy prices are volatile because still so few of them have been traded that it’s still hard to work out the trends. The Renault dealers aren’t doing Renault any favours for Renault (and our own) ZE investment. It’s really in a class of it’s own when you compare it to other things in the UK market. Probably looking at the French Quadracycle market will give a better idea of where they will settle, that’s quite a mature market, they have had a class like this for decades. Later on it will become a cult classic, I’ve no doubt of that. I’d say base price a Twizy with doors is easily worth £5000 and if you threw in a year’s battery lease, I’m pretty sure you’d sell it very quick, £5700 is not an typical price for them trading at. I’m writing a Twizy Buyers guide at the moment, If I get time to finish it it will be up on the TwizyTech FB page notes and I’ll post it on here somewhere too!
Now-Twizy reliability unproven, massive oversupply of used due to Renault selling off ex-demos, mainstream public not used to EVs, ZOE not launched
Few year’s time-reliability proven/recalls done, used supply reduces as ex-demos have sold and very few new Twizys sold, mainstream seen more EVs such as ZOE and want in at cheap end, Twizy gains cult status as the “early adopter’s choice”
This is why I reckon that prices offered now and prices offered in a few years will be largely the same, so keeping one now rather than selling it off at a low price would only cost the battery hire payments-especially given that the servicing and warranty package are included*. If I had not sold mine, I would not accept these low prices and hang on to it.
*Renault prices quoted on here for brake discs/pads were Lambo-esque so it will be interesting to see how many you need over the years
Like the Audi A2 gained popularity many years later, the quirky Twizy will find more appreciation as it and the EV market mature.
I have been offered £3000 for mine by Renault… the best I could get considering the 7 dealers I contacted, two whom didn’t know Renault made a Twizy. I didn’t pay top whack but still a 50% drop in depreciation since October is a bit of a grimace to be honest. What I have also factored in though is my £48.99 battery lease payment… I am committed to that for a further 28 months so in effect I would save £1371.21 buy terminating that agreement which I could add to the part-ex valuation, resulting in a cash back to me of £4371.21 which pushes the depreciation up to 38%. This is a bit more palatable even if my logic may appear a bit strained… and to be fair, the Twizy is a niche, bespoke product.
You’re well within your rights to reject yours, which would be the route I would take
Or, sell via ebay-check the thread on here, doorless Urban already at £2850 with 18 bids-very interested to see how this ends
Or, sell by undercutting dealer prices and advertising on ebay or Auto Trader
Whichever you choose, you will beat your dealer p-ex offers.
Well-you’re an early adopter, not following the herd and ahead of the trend: Audi A2 owners have “in the know before you” coolness now, it will happen to the Twizy when there are more EVs and it becomes a cult old school model.
I thought metallic brown was super cool 15 years ago, now all the prestige stuff is launched in metallic browns!
I’ve bought a 2012 Nissan Leaf and managed to get £3000 trade in.
I’m not at all happy having to swallow a £2500 loss due to negative equity with RCI Finance.
Overall the experience of being an early Renault EV adopter has been bitter sweet. They need to take a serious look at the resentment building up over the collapse in residual values. What will a 1 year old 8000 mile Zoe be worth as a trade in Nov 2014 I wonder?
I’m still trying to find this ‘collapse’ in value. You would have got more by selling privately - that’s a given, but what were you expecting? Once out the showroom and with Car Tax paid, I’d expect around £3,500 certainly no more. They also bought out your battery liability - you’re paying for that too!
Hmmm, a similarly priced new/ex demo Skoda Citigo, VW up! or Seat Mii would have lost no more than £1500 in the same time and mileage, so the payment made on a standard finance deal would have kept up with that loss; so no negative equity. Even a boggo Dacia Sandero would have done better.
There’s no way to dress it up; a loss of 50% or so on a small car in a year and a few thousand miles is totally unacceptable.
There’s always this VAT argument; it is irrelevant as people will usually pay near to the price of a new car for a very new, low mileage used one-you don’t always lose that VAT amount by buying new; see the price of the above mentioned cars ex-demos for example.
The worst thing is that it is not the fault of the actual car in this case; the Twizy is a good machine; it is the abysmal short-sighted, disjointed handling of the model by Renault UK who have destroyed its desirability completely in the used market.
I bought sharply as an ex-demo and sold privately at the right time, so was insulated from the biggest loss-but you should not be screwed by having bought new and then having to take a huge loss caused by the disastrous mishandling of the model by the manufacturer and their agents.
Apathy is the issue here; I would have sold mine privately and not p-exed. If I had faced negative equity, I would have covertly filmed the staff at several Renault dealers telling me that “Renault should not have launched the Twizy in the UK” “we never sell any of them, no-one wants them in our climate” “It’s not a proper car, they dropped the Espace and Laguna and gave us this, it’s ridiculous” etc ad infinitum and then told Renault that they were to blame for my losses and they could stick the £2500 neg eq up their charging socket, then when this was denied in writing and payments pursued would have gone to Watchdog and made the letter and films public.
It is a damned good thing for Renault that this did not happen to me, because I would have stopped at NOTHING to get my money back, bringing ZE into disrepute in the media and so on.
As it is, I like the Twizy, but sympathise with those caught out by dealers who have shafted them. The Twizy should be a hugely desirable entry level way into EVs-especially as firms like BMW are now launching new and very expensive new ZE models. If it had been launched correctly with UK specific models and handled professionally with careful control of supply and demand, with dealers monitored, faults resolved and owners made to feel special this could have been an entirely different story now.
As it is even Renault dealers won’t buy them back in and are even trying to shift their own cars via webuyanycar.com; what does that tell you?
I do feel sorry for the few good ZE dealers out there who have had to be proved wrong by the ZE haters who never wanted ZE and said it would not work-they have made sure it has not worked. They’ve taken what should be a quirky and interesting vehicle which should be a cheap and fun way to travel for many people and turned it into a eccentric plaything for people who can afford to take the losses and do not need a full time commuting vehicle.
A quick observation - none of the cars you mentioned carry with it the poisoned chalice of a battery lease, so it’s an RCI battery, but the same holds true for any EV using a similar model, even the Zoe. If it was ‘just’ VAT, then you kiss goodbye to only £1,500, but you also overlook Car Tax, which is charged on new cars only, PLUS VAT on that too (tax on a tax). The S/h customer is not required to pay this and whilst you can hope that this will not affect the residual value, only if the model is in short supply or especially desirable will this be overcome.
The Leaf, with it’s originally promoted £29k price (including the subsidy) a year down the line is worth £12-14k for nearly new. That’s a 50% loss on the RRP, about the same as the Twizy.
Even the car tax and vat is not relevant to the secondhand buyer as due to supply and demand they have to pay near to the original price for an ex-demo or year old very low mile cars-the taxes are not a factor to them; it’s just numbers on a page.
I’d be gutted to lose that sort of money on a new car, it would put me off forever-but I would foresee the long term value and avoid buying a car with resale issues.
The Leaf prices are somewhat surprising, but that’s due to there being a lot of techy non-electric stuff being available for a lot less money so it seems pricey new and resale is hurt.
The Twizy is the cheapest EV and is a niche product away from the mainstream; therefore the PR and marketing were crucial to manage the image of it and the desirability-to protect resale. Renault has made about every mistake possible in their handling of it (barring a few decent dealers) and this is why demand is low and resales are so poor.
It does not fit the standard resale pattern in my eyes; it could have been made a cult vehicle with huge customer loyalty and supply outstripping demand through careful marketing and numbers management.
All cars lose from new (barring some pre-ordered niche cars during initial launch) but the percentage loss is awful on the Twizy-but my point was that it is not market forces, it is the fault of Renault.