Hi all,
Looking for a bit of advice as I currently have a car on PCP and I’m considering moving to an EV.
My wife and I have a Skoda Kodiaq. We bought it used from Skoda with just 5,000 miles on the clock and took out a PCP deal. We put down roughly £4–6k as a deposit and are paying about £420 a month. We’ve got around 18 months left on the agreement before the balloon payment is due.
Here’s the big question…
I’m getting fed up of spending £400–£500 a month on fuel, and when I’ve worked it out, the potential savings with an electric car are pretty significant. Because of that, I’ve been looking at a Tesla Model Y.
I’m not someone who needs to change cars regularly. Ideally, I’d like to own it long term — say 6 years or more. I’ve been looking at used 2022–2023 Model Ys with up to 40,000 miles and the long-range battery, which seem to be around £22,000 on average.
So my questions are:
1: Do I need to see out the term on my current PCP, or is it worth exiting early?
2: Can I part-exchange the Kodiaq now and move into a Tesla?
3: For those with experience, would you recommend going down the used ownership route or leasing instead?
I’m leaning towards buying used, as everything I’ve seen suggests Teslas hold up really well and still feel like new — plus they’re significantly cheaper than buying brand new.
I’m only really considering a Tesla EV — always wanted one!
Thanks in advance 👍