Thinking of getting an EV

danlightbulb said:
Ok so I need a reasonable size car firstly. The Juke, Leaf, Golf, DS3, E2008, Prius - none of those are big enough.

Secondly I'm not sure you are quite understanding my point.

I currently spend £400 a month running and maintaining my old car. That is dead money, I have nothing to show for it after 3 more years.

I could get a new car on the salary sac scheme at work that will cost me £450 a month (the MG5). Yes I also have nothing to show for that over three years either. But instead of driving round in a 19 year old petrol BMW and carrying all that repair risk and worry, I will have been driving round in a brand new all inclusive MG5.

If I'm buying a second hand car I will need a loan. If I don't buy an EV, that loan is on top of the fuel costs, so I can't offset the cost of the car with the fuel saving. Hence, even though it's a newer car and I carry less risk the outlay per month is still higher. I am also still carrying risk, I could buy a £17k car tomorrow and in 6 months the engine fails. That liability is on me no matter which car I buy.

If I buy an EV with a loan, it's a hefty loan, needing around £20k. So whilst I do then own the car (and still carry any out of warranty repair risk), I will still increase my monthly outgoings substantially even with the fuel savings.

Consider my position from where it is right now - a £400 per month cost of running a car which is 19 years old. How can I a) reduce this or b) keep it the same whilst getting a better car?
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You can twist the numbers however you want; that is man maths privilege. Just get an EV on sal sac then, not sure what your point is.
 
ID.3 used now come with 2 year warranty. A 3 or 4 year old one will cost £15k. 2 year old ones going for £20k

Or stick to your MG5.

Stop man mathing yourself into an E-Tron 50. I had one and they are a great car and very practical, but very short range for an EV.
 
dlockers said:
Mg5 on sal sac or bottom spec Audi crossover on 6.1% loan..hmmmmmmmmm is this thread for real?
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What's not for real about this thread is struggling to get strong answers and advice. I'm all over the place trying to figure out how to cut my costs or risk and don't seem to be getting through to any solution.

It is astounding to me, that I'm saying that it currently costs me £400 per month to run my 19 year old BMW, that I could save £160 a month in petrol costs by going EV, and potentially have the lot funded pre tax on salary sacrifice, and yet despite all that I still can't beat or equal £400 per month in running costs.

I don't want to be a pain but I desperately need some help here. It is giving me a real headache and making me ill.
 
danlightbulb said:
What's not for real about this thread is struggling to get strong answers and advice. I'm all over the place trying to figure out how to cut my costs or risk and don't seem to be getting through to any solution.

It is astounding to me, that I'm saying that it currently costs me £400 per month to run my 19 year old BMW, that I could save £160 a month in petrol costs by going EV, and potentially have the lot funded pre tax on salary sacrifice, and yet despite all that I still can't beat or equal £400 per month in running costs.

I don't want to be a pain but I desperately need some help here. It is giving me a real headache and making me ill.
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Mg5 is a respectable dad wagon. Get that on sal sac. Done
 
cuke2u said:
I thought the VED for premium EV's was for new cars registered from 1 April 2025, not applied to cars already purchased. If that's the case it isn't worth buying a decent preowned either...
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Found my answer https://www.gov.uk/guidance/vehicle-tax-for-electric-and-low-emissions-vehicles#:~:text=From 1 April 2025, drivers,pay a fairer tax contribution.

Additional rate (expensive car supplement)​

Under the new plan, zero-emission cars will be placed in the lowest tax rate, with a VED of £10 for the first year and £165 per year thereafter.

For new electric vehicles with a list price exceeding £40,000, you will now need to pay the expensive car supplement from the second tax payment onwards. This applies to vehicles registered on or after 1 April 2025.
 
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dlockers said:
Mg5 is a respectable dad wagon. Get that on sal sac. Done
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But people were telling me it's dead money and I should buy used instead....

The mg5 is still a relatively small car. The seats don't go anywhere near flat. And it looks like it's on stilts. Why shouldn't I want something better?

I go look at used cars and come across Audi etron. Great size and space, premium finish and looks. A £70k car now down to £20k at 3 years old! I get criticised for considering it.
 
cuke2u said:
For new electric vehicles with a list price exceeding £40,000, you will now need to pay the expensive car supplement from the second tax payment onwards. This applies to vehicles registered on or after 1 April 2025.
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It's a joke, almost all the EVs are over 40k list price. That's going to add £30 a month to every EV bought whether lease or privately funded.
 
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What happens to value when EVs battery warranty runs out?

The guy at the dealership said that he thinks the price will plummet once the cars reaches at 8 year/100000 mile level, and that's why I should PCP it rather than buy with a personal loan.

Obviously he wants to sell finance of course, but what do you think?

Take the Audi etron as it's a good example here. It was a £70-80k car new and is now say £20-25k at 3 years old/30k miles. That is huge depreciation. If bought over 5 years with a loan, that means the car will be 8 years old and around the 100,000 mile mark - battery warranty expired. Would you expect to be able to sell the car and what for?

Also what kind of repair risk would you be carrying at that point? Electric motors X2 in that car, all the suspension tech, all the HVAC parts, the screens... How risky would all this be compared to an 8 year old ICE?
 
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