Jaecoo 7

[StonedPenguin]

Hi,

My work have recently offered to replace the work van (strictly for work use only) with a Jaecoo 7 PHEV luxury trim which we'd also be able to use privately aswel as for work

The cost for this is £140/month which includes BIK (not entirely sure what BIK is) over a 4 year period..

On the face of it, it seems like a good deal.. brand new car including insurance, tax, mot, servicing, maintenance, breakdown cover with unlimited miles for £140/month..

I've watched a few video reviews of said car and they're a bit hit and miss.. Does anyone have one or any experience using one? is this actually good value? having never leased a car before I don't really know a lot about leases.

Thanks!

 

[StonedPenguin]

Benefit in Kind, it is tax on you gaining a benefit from the business. So you pay £140 from your wages to the govt. and they (the company) give/let you use you a car to yourself.

If they are paying all the fuel seems like a great deal, that car also has a 54 mile electric range, so if you were paying for personal mileage you could do lost of it very cheaply.

Depends if you only have a van now, or maybe a shed of a car that you spend more a month on fuel on?

More data form your side required to say if the deal is good.

Thanks for the info, I'm currently in between cars so it does feel like it's been offered at a good time, It doesn't include personal fuel and I'm unable to charge it at home but I don't do much more than 5k personal miles per year anyway.

BIK on a PHEV wont be that low surely, let alone the car.

That's what's been offered, the exact wording they used was '£140 per month deduction which includes BIK'.

 

[StonedPenguin]

140 a month? Do it

That's nowt considering the cost of a new vehicle on Lease or PCP now.

how many miles do you actually do? My mate bought a New Lexus PHEV thing a few month back and is currently about 1/2 way thru his 2nd tank of petrol lol

Do you have solar/battery at home at all?

I don't do many personal miles, probably 4-5k a year. I also have no way of charging it at home, no solar or anything, so most if not all miles will be done using the Petrol engine.

like Jonny questioned - seems it's 8% bik for its 56mile range on a ~£35K vehicle so that alone should be £230/pm from pre-tax wage.

My employer must be covering some of the cost then, I'm not sure..
They haven't really given much info, just £140 inc bik for 4 years, we'd also use our company fuel card for personal miles but record them and they'll deduct the personal miles fuel costs from monthly wage pre-tax so fuel would actually be marginally less.

It does seem like a good deal so I'm probably going to go for it.

 

[StonedPenguin]

I've had this car about 3 weeks now and overall it isn't bad, drives ok and has a decent amount of tech included as standard, it's nice to not have to worry about paying for it if it breaks down, insurance, tax or any maintenance for £140/month + 0.14p a mile when used privately for fuel.