Seller
Attention Polestar EV Owners! Costs, Depreciation, and Selling Strategies for 2024
Comprehensive guide on Polestar EV ownership in 2024, covering costs, depreciation, and selling strategies for maximizing value.
When thinking of the Polestar brand, the futuristic EVs that have quietly roamed Germany's roads since 2020 immediately come to mind. The Polestar 2, in particular, is highly popular, known for its design and innovative technology. At Cardino, we wondered how well the Polestar brand holds up over time, what costs should be considered when owning one, the current depreciation trends, and where you can sell your EV. Here is a detailed guide for 2024.
1. Your Comprehensive Cost Overview for 2024
While the Polestar 2 is currently the most popular, don't forget about the other models. Depending on your needs and preferences, different models might suit you! Costs are a factor to consider before making a decision. These costs go beyond the purchase price and include aspects such as maintenance, charging, insurance, and potential benefits. Let's take a closer look:
Polestar 2: Starting at around €50,000
- Long Range Dual Motor: Approximately €58,000
- Long Range Single Motor: Approximately €54,000
Polestar 3: Expected to start at around €75,000
Additional Costs:
- Optional features and packages can add up to €10,000
- Chargers: Home chargers cost between €500 and €1,500
- Maintenance and service: Generally lower than for combustion engines but still significant
- Insurance: Premiums tend to be higher due to the vehicle's value
2. What is the Average Depreciation of Electric Cars?
Often seen as the biggest drawback of electric cars, depreciation fuels the booming second-hand market. EVs have different depreciation patterns compared to traditional vehicles. Factors such as battery condition, technological advancements, and market demand influence the depreciation of EVs. The EV market is constantly changing, making it crucial to understand and leverage depreciation trends!
Average Depreciation Rates:
- EVs generally lose 50-60% of their value within the first three years
- After five years, the average depreciation is about 60-70%
Influencing Factors:
- Battery degradation: Affects the long-term value
- Technological advancements: Newer models with better features can lower the value of older models
- Market demand: High demand can reduce depreciation rates
3. How Does Polestar Depreciate?
Unlike Tesla, Polestar does not release a new version of an older model each year but instead focuses on entirely new models, resulting in lower depreciation. Polestar EVs have also received strong recognition in Germany for their outstanding performance. How does this affect the depreciation rate?
Polestar 2 Depreciation:
- First year: Around 20-25%
- After three years: About 50%
- After five years: Around 60-65%
Polestar 3 Depreciation:
- Expected to follow similar patterns as the Polestar 2 due to high initial demand and luxury status
Market Influences:
- High demand for premium EVs in Germany can slightly mitigate depreciation
- Brand reputation and model updates can affect resale values
4. When is the Best Time to Sell Your Polestar?
Buying and reselling also involves timing! The timing of the sale is crucial. Ideally, you want to use your EV as long as possible and then get the best price for it. Let's look at the factors in more detail.
Optimal Selling Period: Within the first three years to minimize losses
- After 1 year: Depreciation is about 20-30%, meaning the Polestar 2 is worth approximately €35,000 to €48,000 after one year, a loss of about €12,000 to €18,000.
- After 2 years: Depreciation in the second year is around 15-20%. The sale value could then be between €28,000 to €40,000, a loss of €20,000 to €32,000.
- After 3 years: Depreciation is about 10-15% in the third year, so the Polestar 2 is worth around €24,000 to €36,000 after three years, a loss of €24,000 to €36,000.
5. What is the Best Way to Sell Your Polestar?
You can sell your Polestar EV in various ways, each with its pros and cons. From traditional approaches to modern platforms like Cardino, choosing the right method can simplify the process and maximize your returns. What advantages can you expect with Cardino?
- Seamless process for selling EVs: Cardino.de offers an optimized and user-friendly platform specifically designed for selling EVs and hybrids.
- Simplified documentation and transactions: The platform simplifies paperwork and the transaction process, making it easy for sellers to navigate legal and administrative requirements.
- Potential for competitive offers due to the dealer network: Cardino.de's extensive network of dealers can lead to competitive offers for your Polestar, ensuring you get a fair price.
- Convenience and speed of sale: The platform is designed for quick sales, providing a convenient and efficient way to sell your Polestar without the typical delays of traditional selling methods.
Conclusion
Owning an EV involves more than just purchasing! In 2024, it means keeping an eye on market developments, depreciation trends, and the right selling platform. Polestar's commitment to innovation, sustainability, and luxury makes its vehicles highly desirable, and the enticing offer attracts more and more buyers.
Once you have considered the cost breakdown, you are well-equipped to decide whether to buy, wait, or sell. Let Cardino help you determine and retain the maximum value of your Polestar!
FAQs
What are the initial costs of owning a Polestar EV?
The purchase price varies by model, with the Polestar 2 starting at around €50,000. Additional expenses include optional features and packages, home chargers, maintenance, and insurance.
How does the depreciation of Polestar EVs compare to other electric cars?
Polestar EVs generally follow similar depreciation trends as other electric cars, experiencing significant value losses in the first few years. For example, the Polestar 2 loses about 20-25% of its value in the first year and about 50% after three years.
When is the best time to sell my Polestar EV to achieve maximum value?
To achieve maximum value, it is best to sell your Polestar EV within the first three years of ownership. This minimizes depreciation losses. It is also advisable to sell before significant battery degradation and before major model updates are announced to maintain a higher resale value.
What are the advantages of using Cardino to sell my Polestar?
Using Cardino offers several advantages. The platform simplifies the documentation and transaction processes, connects you with a network of dealers for competitive offers, and allows for a quick and convenient sale, making it an efficient choice for EV owners.
Selling electric cars to Denmark and Skandinavia – Easy and Secure with Cardino
Selling an electric car to Denmark can be particularly lucrative. The sales process is fast, completely online, free and without obligation. Both Scandinavian dealers and sellers have the opportunity to get a fair price in a changing market.
You can list your electric car or plug-in hybrid on Cardino within minutes. Here's how it works:
1. Digital Inspection in 10 Minutes:
Fill in all the information about your car and receive a valuation from our sales agent.
2. Auction:
Dealers will bid on your car, and you will receive the highest offer within a maximum of 3 days.
3. Payment and Free Pickup:
You will receive the money before the pickup. We take care of transporting the car, and it’s free of charge!
