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EV general discussion
- Thread starter Ricochet J
- Start date
Thought so. The last gen RWD (when they switched it to a LFP battery) has premium as standard.
Annoyingly the American versions all have premium audio as standard!
When you say "trim" remember that majority of components for tesla (apart from the speakers for AWD/performance are the same).
Eg all have panoramic roof, 5x heated seats etc. The newer junipers have cooled seats in the front, improved glazing, improved suspension and a rear screen . I went for a used Y as the depreciation is mental (50k down to circa 25k in 2 years)
I got my dual motor AWD 2023 model Y for a hair under £26k 2 months ago if you want a flavour. I wanted a red or blue one too. From what I can see prices gone up slightly.
When you say "trim" remember that majority of components for tesla (apart from the speakers for AWD/performance are the same).
Eg all have panoramic roof, 5x heated seats etc. The newer junipers have cooled seats in the front, improved glazing, improved suspension and a rear screen . I went for a used Y as the depreciation is mental (50k down to circa 25k in 2 years)
I got my dual motor AWD 2023 model Y for a hair under £26k 2 months ago if you want a flavour. I wanted a red or blue one too. From what I can see prices gone up slightly.
Useful insight thanks!
Honestly I was pretty set on a used MY, but crunching the numbers, and I may be missing something, the 0% APR and £2k deposit contribution on the new one seems better. For reference I'll be doing PCP through my limited company.
New Model Y (0% APR):
Deposit: £4,000 (£2k contribution from tesla)
36months at £500pm: £18,000
Total paid: £20,000
Interest: £0
Used Model Y (8.45% APR):
Deposit: £2,000 (no deposit contribution)
36 × £446: £16,056
Total paid: £18,056
Interest: £5,687
You save £1,944 over 3 years with the used car (£54/month) but pay £5,687 in interest for the privilege of driving someone else's old car.
Other considerations are that new MY would be subject to £620 luxury tax a year
Obviously theres balloon payments for both and, it's likely the new MY will deprecate a lot, but if I'm handing both back after 3 years, it's paying £20k for a new (in my opinion nicer) car versus £18,056 to drive a used car that I'm not 100% keen on the looks of.
Am I missing something obvious? New MY felt much better build quality and in my opinion looks infinitely nicer aesthetically.
I crunched these numbers last night so can't remember the exact used I was looking at, think it was 2023 standard one on Tesla official used site.
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Soldato
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- 25 May 2008
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Yeah i was hoping it'd be a bit cheaper, I did get an itemised quote and it does include putting in a 6 way CU, 6x double sockets, 1x 16amp commando socket for my welder in the garage and connecting up 4x strip lights i already have so that's a fair bit of work before you even get to the EV charger install so maybe its not that bad in the end.
The garage is a bit away from the house as well so i need 30m of 10mm SWA which isn't cheap.
Supply, install, and secure 10mm SWA cable using cleats.
Run Cat6 cable through customer-supplied ducting.
Terminate SWA cable into existing consumer unit.
Gland and earth both ends of SWA armouring.
Install 50A MCB to serve as a designated sub-main circuit.
Fit and mount a backboard for the garage consumer unit.
Supply and install a 6–7 way consumer unit complete with SPD and 4x RCBOs for designated circuits.
Supply, wire, and install a 16A socket.
Wire and install EV charger point (EV charger to be supplied by customer).
Supply, wire, and install 6x double sockets (including 1 existing socket location).
Connect existing lighting circuit into new garage consumer unit.
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Get the new one.
It’s what £4K more after VED over 3 years. P11D tax will basically be identical on both cars.
Edit: the old one will be out of warranty for the final year also so there could be other repair costs to factor in.
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But you failed to factor in depreciation IF you were planning to keep the old one. Also you could get a loan from the bank for a lot lower than 8.45% APR. Don’t take this the wrong way, but are you trying to man math your way in to a new car that you won’t own? Or if you do own it, the depreciation will be considerably higher than on the used one?
Obviously it’s your choice but do yourself a favour and don’t pretend you are “saving” money in the long run.
If you don’t plan to own either option after 3 years then the used one will still save you money in the long run. If you are happy getting in to a used Model Y, then buying and owning one outright would be a better option.
Obviously it’s your choice but do yourself a favour and don’t pretend you are “saving” money in the long run.
If you don’t plan to own either option after 3 years then the used one will still save you money in the long run. If you are happy getting in to a used Model Y, then buying and owning one outright would be a better option.
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He's getting it trough a .Ltd company he isn't going to be buying it at the end.
My apologies, I am aware of that. My point was that doing it either way will cost them money in the long run. If they are happy to get in to a used Model Y, there are far smarter and cheaper ways to to do so. Ways that mean you get to keep your used car at the end of the loan period.
Let’s assume £26k for a used MY 2023 Model Y with ~30,000 miles. That is only £3k more than his total paid for the used Model Y that he will never own. Get a loan at 5.8% APR and it’s about £5k more with interest.
In three years that used Model Y will still be worth a fair chunk of money on the used market. So it’s worth factoring that in as an option.
If you have the money in savings you could pay the used car outright and service that loan at about £500 - £600 over 3 years and the losses on interest are lower again. At the end of 3 years that used Model Y could still be worth £10000 - £13000.
Basically over 3 years buying outright used and keeping/selling/trading in could save ~£8000 - £10000 depending on how much a used Model Y is worth.
For what it’s worth, if you are happy effectively leasing for 3 years, then the new one all day long. You will regret going used and not owning it.
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You are assuming his Ltd company can afford a ~£800 per month outgoing vs a £500 though, and cash flow is incredibly important in a smaller business. Business are happy to pay more using leasing as they don't want an asset they want a tool. I'd be right with you if this was a personal purchase but its a business purchase so approached in a different way although.
Also they originally stated they preferred the new one over the old one even though the cost was higher, so you the margin of difference would need to be huge to convince most people it is worth getting something you don't like vs something you do.
Again you are arguing against a point I have not remotely made. I know the premise of what the poster is doing. I’m simply pointing out that if they are paying ~£500 a month of their money on a car, there are more sensible ways to do it.
If they are set or restricted to the purchase methods outlined, then new would be my advice. If they can use that £500 per month how they wish, then buy used outright and overall they will save many thousands of pounds.
If they are set or restricted to the purchase methods outlined, then new would be my advice. If they can use that £500 per month how they wish, then buy used outright and overall they will save many thousands of pounds.
Man math is my new favourite term.
All fair points. I guess my big draw at the moment is that I currently lease personally, through my personal account, so shifting it to my limited company frees up money in my personal account, and I can put lease, insurance, tax, repairs, maintenance allowance through company and reduce my tax bill.
I'm just not going to keep the car at the end regardless. Sure you can get a loan from the bank but not really looking to take at one that size personally, and can't take a business loan for this (and dont want to fork out the actual cash too).
You told them to get a loan for the car, which is £800 per month... not sure what you point was otherwise, or were you not telling them to get a loan?
Soldato
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Small business? Surely it’s just a contractor here on an hourly rate, we don’t need to consider seasonal trends of organic cookie sales or something like that! 
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That’s a bit of a leap, I told them no such thing. I gave different options that the OP could decide which suited best.
I understand what getting PCP through a limited company means, I was just pointing out that if you are prepared to get in to a used car, there are overall cheaper ways to do it.
My ultimate advice would be the new one, especially as the poster has made clear they don’t I tend to keep the car after 3 years.
I understand what getting PCP through a limited company means, I was just pointing out that if you are prepared to get in to a used car, there are overall cheaper ways to do it.
My ultimate advice would be the new one, especially as the poster has made clear they don’t I tend to keep the car after 3 years.
When you're buying through a Ltd company I thought there was a significant corporation tax relief advantage (100% of the EV value iirc) to getting a new EV compared to used, albeit you may need to HP rather than PCP. Probably worth researching a bit (or getting your accountant to run through if you have one) if intending to use the Ltd company to purchase.
Associate
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what was the mileage on that?
Any of tesla's approved used ive seen have been a couple thousand more than anywhere else. would happily pay a bit more to get the year of tesla extended warranty but cant find any at the price you paid
Soldato
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I think that’s for an outright purchase, basically the reason used Taycan have low demand.
Directors can buy new ones for more favourable conditions than used.