Joining the electric car club

[rockits]

I've been thinking of ditching the Outlander for a full 100% EV for work but not sure what commercial options will be similar to the 2 seater Outlander Commercial.

However with no BIK maybe a 5 seater that I put the seats down when I need to might work. It is just the cost of a decent practical EV that might make less sense. The Outlander was £23500 + VAT I think.

 

[mjheathcote]

I did the same for years, with a helpful employer letting me run whatever age car I wanted.

To give some context, a 330e M-sport Touring with a decent spec is over £45k list. But BIK is 10% vs 36% for a petrol only 1 series so it it way better even if a hot 1er is £7-8k less list.

I reckon my p/mile is around 3-4p so even against a 140i with the same tax benefit it would be better as I see they are holding their value very well.

It is of course horses for courses. Apparently, if it’s your own car, you can squeeze 400+ total bhp out of them too, which, given the instant torque from the leccy, is probably quite interesting.

I bet the 330e Touring is nice, had a couple of MSport Tourings as company cars for years.

 

[mjheathcote]

Interestingly (well, possibly) it looks as though the tax allowance on privately owned e-vehicles driven for business use is 4p per mile. The IC mileage rate is 45p per mile. Whilst there's sense for me in continuing to run a petrol-drinking private car and offsetting the business miles against my tax bill, there would be no sense at all in owning an EV if I did much business mileage. As far as I can see, pure EVs only make tax sense from a tax perspective if they're a company-owned / leased car. Which is, of course, the scenario we're talking about anyway... I was just curious and thought I'd look.

Hybrid EV tax allowances are calculated as per an ICE car.

4p a mile? That's me out on a privately owned EV for business!

 

[DaveT]

Interestingly (well, possibly) it looks as though the tax allowance on privately owned e-vehicles driven for business use is 4p per mile. The IC mileage rate is 45p per mile. Whilst there's sense for me in continuing to run a petrol-drinking private car and offsetting the business miles against my tax bill, there would be no sense at all in owning an EV if I did much business mileage. As far as I can see, pure EVs only make tax sense from a tax perspective if they're a company-owned / leased car. Which is, of course, the scenario we're talking about anyway... I was just curious and thought I'd look.

Hybrid EV tax allowances are calculated as per an ICE car.

It's all in here:

Advisory fuel rates

Find out about advisory fuel rates for company car users, when you can use them, and how they're calculated.

www.gov.uk

.

 

[mjheathcote]

It's all in here:

Advisory fuel rates

Find out about advisory fuel rates for company car users, when you can use them, and how they're calculated.

www.gov.uk

.

That's repaying your private mileage a 4p a mile if you have an EV as a company vehicle and the company pays for the electric.
Totally different to the 45p/25p rates for a privately owned car used for business.

 

[DaveT]

That's repaying your private mileage a 4p a mile if you have an EV as a company vehicle and the company pays for the electric.
Totally different to the 45p/25p rates for a privately owned car used for business.

Yes I know. So put up to show the 45p v 4p comparison was apples v pears

 

[Ewan]

Ok Ewan, explain how could a so called pensioner as you say could claim it back?
Your talking bollox mate!
Dave

Okay - I now understand the question. And the answer is, you do nothing. Just as a retired pensioner with an ICE car does not reclaim tax on business mileage (as there isn’t any business mileage), nor does a retired pensioner with an EV. So, the financial advantage of running an EV in this example is purely the considerably lower fuel and servicing costs - typically a few thousand Pounds per year (depending on mileage).

But, on a like for like basis, the EV car is more to purchase in the first place, and currently, the second hand market is small. So, for some people, it may not be worth it for another few years by which time their will be more second hand cars available, and a more wide spread charging network (to negate the need/cost of a home charger).

So, right now, the viability of running an EV much depends on personal circumstances (i.e. company car or private, whether your journey patterns make need for a long range, whether you live/work near rapid chargers, etc.)

 

[Felonious Crud]

4p a mile? That's me out on a privately owned EV for business!

Exactly my thinking! Although I do need to remember that my mileage is so low that I barely need a car at all. Whilst I could get a good tax deal by buying a company EV or hybrid I'd be better off putting the same money into a pension or paying it to myself in some form.

Which is kind of a shame. I enjoy looking at and buying cars.

 

[Dan!]

When I ordered a Tesla Cybertruck 2 years ago I didn't think about how much it would cost per mile or any of that business, I ordered it because it's cool - in an ugly as sin and fast as **** kind of a way.
God knows when it'll actually arrive, but I'm really looking forward to the day it does. I've gone for the triple motor version with the self drive option.

I think the running cost aspect is only a small part of the purchase decision of buying an EV, as it is for many cars. It might have originally been the opening gambit for EV's but they've got a lot more to offer now.

I'm sure none of us really considered the fuel bill when we were deciding to buy our V8/V10/V12 ICE toys. We bought them because we they're cool.

 

[Jamin]

Electric for work and save the planet
V8 for fun and save my soul

 

[alfatwo]

I'm not convinced with your arguments, guys sorry..
As always you seem to base your thoughts from a business point of view.. So stop it!

Say your dad had 20k to spend on a new car, you wouldn't recommend an EV would you, you would have to be nuts!

Dave

 

[Zep]

I'm not convinced with your arguments, guys sorry..
As always you seem to base your thoughts from a business point of view.. So stop it!

Say your dad had 20k to spend on a new car, you wouldn't recommend an EV would you, you would have to be nuts!

Dave

Nope, but I would a hybrid as most of his journeys are short.

Don’t worry though, we won’t force one on you

 

[alfatwo]

Now a hybrid makes sense!

Dave

 

[Lozzer]

Thought Harry's Garage did a whole vid on this, and how the numbers don't quite stack up.

 

[Ewan]

I'm not convinced with your arguments, guys sorry..
As always you seem to base your thoughts from a business point of view.

Correct. Speaking only for myself, my reason for buying my EV was purely business. I have bought it for financial reasons, and financial reasons alone. The simple maths are that it is hugely cheaper for me to run the E-Tron than an equivalent ICE car. And you can blame (if that’s the right word!) the Chancellor for that. He has made the opportunity, and I am simply one of the tens of thousands of people to do the maths and take the opportunity while it’s offered.

But as stated earlier, not everyone’s position is the same, nor their vehicular needs. So while it works for me, it won’t work for all. As ever, everyone has to do their own evaluation in accordance with their own circumstances. It is not a one-size-fits-all situation.

 

[Ewan]

Say your dad had 20k to spend on a new car, you wouldn't recommend an EV would you, you would have to be nuts!

I‘ve not checked, but I’m not even sure you can buy a new EV for £20k. And if you can, I doubt it would be any good.
For my Dad, features like easy entry/exit (with a dodgy hip) and boot space for the dog rank higher in importance than emissions, running costs, etc. Hence he drives a new Volvo estate (ICE). Jolly nice it is to. Comfy, great tech, and quite stylish in its own way. I like it a lot.

 

[Ewan]

As for what is the best new car at £20k to buy for an 80 year old, well, that’s a whole new thread waiting to be started!

 

[hashluck]

As for what is the best new car at £20k to buy for an 80 year old, well, that’s a whole new thread waiting to be started!

Have sold quite a few 1980-1999 cars to 75-85 year olds in the £5K-20K bracket - they are generally buying memories but also just don't get on with modern cars. They want comfort and visibility and something easy and tactile to use, features sadly lacking in most new vehicle offerings.

 

[alfatwo]

Have sold quite a few 1980-1999 cars to 75-85 year olds in the £5K-20K bracket - they are generally buying memories but also just don't get on with modern cars. They want comfort and visibility and something easy and tactile to use, features sadly lacking in most new vehicle offerings.

Exactly!

Nicely described mate, thanks

Dave

 

[Manc5]

Have sold quite a few 1980-1999 cars to 75-85 year olds in the £5K-20K bracket - they are generally buying memories but also just don't get on with modern cars. They want comfort and visibility and something easy and tactile to use, features sadly lacking in most new vehicle offerings.

This is so true.. my father in law wanted a new car a few years back and asked if I would do the rounds with him when buying . He was trading in his trusty 15 year old one owner Jag xj6 which he loved and doted on but said he did not want a new jag as he fancied a change.. So I sat down with him what he was after and he basically asked for - brand new, a radio that got radio 4, something about 8 inches higher than the Jag to get in and out of, a hatchback with a sunroof and with leather seats.. i asked any manufacturer preference.. he said nope, so long as it wasn't german.....