BMW 330e

Minxy · 17 Feb 2021 at 07:27

I had a brand new 330e M Sport Tourer delivered in November as a company car. It’s a solid and well built car as you’d expect from BMW, it’s got loads of kit on it although I miss my electric seats from my previous car. The BMW and I have yet to ‘connect’ I’ve not fallen in love with it as I thought I would especially since the last car was a Ford so I thought there would be no contest. The engine is quick to pick up but it’s so refined that it’s almost boring sometimes.

I do around 33k a year for work, I already miss my diesel in terms of having to be in and out of fuel stations however I don’t miss the company car tax cost that came with the diesel. The 27 mile electric range doesn’t go far unless you’re pootling around town, it seems a bit pointless when you’re doing big miles.

Tenzo · 17 Feb 2021 at 10:30

Hmm actually doing maths on it all makes me wonder the best approach, on basis of doing very low company miles:

Company PHEV (Volvo XC60 R Design)
- Lost Allowance + BIK + trade up = c. £759pcm
Company EV (e-Tron)
- Lost Allowance + BIK + trade up = c.£520pcm
New m40i
- Deposit + Loan + Insurance/Service = c. £750pcm

To get a suitable family car (2 large kids, large dog), works out the same on PHEV vs. New purchase. New car has element of more personal risk, but is a far preferable car.

Company EV absolutely makes more sense financially, but not sure on the viability of only having an EV as the family car. Would have to be an e-Tron or EQC and even then, they are not ideal. Skoda Enyaq perhaps.....

Is my questionable man maths missing something here (aside from the obvious fuel)

Kenai · 17 Feb 2021 at 10:35

Depending on your company policies, you may also have opportunity to claim a higher business mileage reimbursement for a personal car, or claim some tax relief against the government recommended rates if your company pays lower.

Journey · 17 Feb 2021 at 10:37

Tenzo said:
Is my questionable man maths missing something here (aside from the obvious fuel)

Is all your care about is the costs? Doesn't seem like it, go with with you want the most.

Tenzo · 17 Feb 2021 at 10:57

Journey said:
Is all your care about is the costs? Doesn't seem like it, go with with you want the most.

No, if it was a pure cost topic I wouldn't be looking at B58 beauties

It's more a sense check on a) my calc and b) whether there is real value in taking the PHEV approach on a low business mileage family car. My calculations suggest not.
No disputing the BEV value on paper, but then there's the trade off on practicality and less tangible "enjoyment" factor.

Journey · 17 Feb 2021 at 11:05

Tenzo said:
No, if it was a pure cost topic I wouldn't be looking at B58 beauties

It's more a sense check on a) my calc and b) whether there is real value in taking the PHEV approach on a low business mileage family car. My calculations suggest not.
No disputing the BEV value on paper, but then there's the trade off on practicality and less tangible "enjoyment" factor.

Hence why I said, buy what you want the most.

If you don't 'want' a BEV then you'll not enjoy it and just end up wishing you got something else. Personally I couldn't buy another ICE car, or even PHEV now, I find no enjoyment in driving them any more. I find way more enjoyment from the simplicity and relative quietness that the BEV's offer, and the convenience (from my perspective).

[TW]Fox · 17 Feb 2021 at 11:27

Tenzo said:
Is my questionable man maths missing something here

Yes - at the end of the loan term you presumably own a vehicle with a significant residual value.

The value of this must be deducted from the total costs to give a true total cost. You can then divide the true total cost by the term you'd keep the vehicle to give you a comparative monthly cost.

Tinders · 17 Feb 2021 at 11:31

Tenzo said:
Hmm actually doing maths on it all makes me wonder the best approach, on basis of doing very low company miles:

Company PHEV (Volvo XC60 R Design)

Lost Allowance + BIK + trade up = c. £759pcm

Company EV (e-Tron)

Lost Allowance + BIK + trade up = c.£520pcm

New m40i

Deposit + Loan + Insurance/Service = c. £750pcm

To get a suitable family car (2 large kids, large dog), works out the same on PHEV vs. New purchase. New car has element of more personal risk, but is a far preferable car.

Company EV absolutely makes more sense financially, but not sure on the viability of only having an EV as the family car. Would have to be an e-Tron or EQC and even then, they are not ideal. Skoda Enyaq perhaps.....

Is my questionable man maths missing something here (aside from the obvious fuel)

Dont you have to pay tax on the allowance now aswell though?

[TW]Fox · 17 Feb 2021 at 11:32

Tinders said:
Dont you have to pay tax on the allowance now aswell though?

Yes but I assume he's taking the loss allowance figure as being net of tax.

Tenzo · 17 Feb 2021 at 11:51

[TW]Fox said:
Yes but I assume he's taking the loss allowance figure as being net of tax.

Yes, correct. Going to re-work the numbers based on a potential residual value of the owned vehicle.

Edit: So an assumed residual of £16k on an 8 year old X3 m40i with 80,000 reduces the monthly to £575. This assumes a doubled monthly service cost and increased warranty cost for >60k miles.

NB. Residual assumption might be borderline aggressive to support man math

Tenzo · 17 Feb 2021 at 13:10

Actually residuals are an interesting point.

Id imagine my current diesel will have lower residuals than normal in a few years as people get onboard the diesel hate train.

Not sure what will happen to more desirable petrol engines though, especially by 2029.

Journey · 17 Feb 2021 at 13:23

Tenzo said:
Not sure what will happen to more desirable petrol engines though, especially by 2029.

In sure that how desirable something is will be determined by how much fuel costs by then, and what taxes are imposed on the vehicle. After all something like an X3 SUV is hardly a special vehicle regardless of the propulsion mechanism, so I'd imagine that cost will be top priority for most looking to buy.

Tenzo · 17 Feb 2021 at 13:37

I agree a sporty X3 is not desirable per an M3, it's just a bit odd in reality (i.e. Dad wanting something "fun" to carry the family around).

Not sure they would change the tax requirements (don't recall that being done retrospectively but never really looked). Fuel is an interesting point to raise though....

jpaul · 17 Feb 2021 at 13:54

Tenzo said:
Edit: So an assumed residual of £16k on an 8 year old X3 m40i with 80,000 reduces the monthly to £575. This assumes a doubled monthly service cost and increased warranty cost for >60k miles.

Even if you won't own it for 8 years, I might make the calculation based on the 3 years 50% regime; in 3 years, landscape may have changed with increased road tax schedule, and, inner city charges of non-bev's may become more relevant contributing to depreciation (I forsee something punitive like that in Cambridge),
you may see a more practical bev at that point too, so, have to take the hit.

On original demand - bigger than the CLA/330e phev's the Arteon Break phev ticks the attractive box more ... if it were on company list.

Tinders · 17 Feb 2021 at 14:06

I’d have a G20 over the arteon to be fair. Engine,ride, handling tech is superior. The CLA is best bang for buck, best for BIK and Tech and whilst it’s smaller the drive train is as good as the VAG 1.4 hybrid setup.

Journey · 17 Feb 2021 at 14:25

Tenzo said:
Not sure they would change the tax requirements (don't recall that being done retrospectively but never really looked). Fuel is an interesting point to raise though

Sorry, I want clear when I said taxes I meant all forms of charges to just use the car. As pointed out, things like congestion charges based on average g/km of CO2, and changes to VED as well.

Fuel is going to be the really hard one to guess at, since personal use fuel may be subject to more taxes than say the fuel used in the freight industry. What does the X3 M40i do about 25MPG? That could be £15 for 25 miles or more by then...

Tenzo · 17 Feb 2021 at 15:18

Journey said:
Sorry, I want clear when I said taxes I meant all forms of charges to just use the car. As pointed out, things like congestion charges based on average g/km of CO2, and changes to VED as well.

Fuel is going to be the really hard one to guess at, since personal use fuel may be subject to more taxes than say the fuel used in the freight industry. What does the X3 M40i do about 25MPG? That could be £15 for 25 miles or more by then...

£4 a litre. That's a worrying point, but in reality I still think enough people will be using petrol (PHEV or ICE) to mitigate such an increase. I could be terribly wrong, it's a long time away.

mattyg · 8 Jun 2021 at 02:59

arfoll said:
Kinda my thinking except I went for an x5 45e so I could enjoy both the straight six and the tax savings

How have you found it. Our X3 is 3 yr old this xmas so looking at a replacement. Tested the X5 40i the other day. That felt really good. MPG was down on what were used to but were only getting 38 out of our X3 2d. The mrs also like the polar bear friendly X5 45e. Plus it'll go through the business

Jez · 8 Jun 2021 at 09:30

mattyg said:
How have you found it. Our X3 is 3 yr old this xmas so looking at a replacement. Tested the X5 40i the other day. That felt really good. MPG was down on what were used to but were only getting 38 out of our X3 2d. The mrs also like the polar bear friendly X5 45e. Plus it'll go through the business

Fairly glowing review from the best youtube channel around, they look fantastic dependent on your personal circumstances.