[Danj94]

Originally Posted by The Shark

I made all the same calculations as you have, when I added up all my costs monthly, fuel/servicing/extended warranty/VED it needed new discs/pads at the time also I was amazed how much the car was actually costing me per mile.

I took advantage of that EV depreciation bought an EV and the car is being paid for now with what I was paying monthly for my old one. Now costing £5.62 for 280 (real world) miles charging from home so £230 in fuel a month is now £25. It doesn’t need serviced, a pollen filter for cabin is £13 and they post it out and link vid in app to show you how to change it. No VED, insurance went up from £410 to £600 (but it is ins gp50). Depreciation is all about when you buy, I let someone else take the big hit and factored it in.

I genuinely won’t go back now and look forward to the technology advances that are coming with EV even more. Quiet, relaxing, stupidly fast (3.1s) low CoG handles really well, 4WD.

Oh and yesterday Octopus energy(Agile) I charged the car for free I used 25kw of electricity and it cost me nothing but the standing charge (44p)

Exactly where I am at.

I am seriously considering the Polestar 2 or Tesla Model 3 performance.

Both about 4 years old and under 30k miles. it would almost be a straight swap into it. I get the depreciation thing but I dont think its significantly worse then any other car new off the forecourt and its certainly not going to be as bad a deal as a PCP on any new car which thousands out there do.

[MY340i]

just to note EV's will start paying VED from next year. This includes any EV from 2017+

[KRS_SN]

Originally Posted by Pentland

Can you put some figures around that?
I’ve never spent £3k on servicing in 5 years so I don’t understand how you can save that.

12-15k miles a year.
Re X5/7 - Every year it's a minor/major service which is £320/£640 ie £320×3+ 640×2 = 2240. Add in a couple of brake fluid service £100 Then a set of brake discs/(? 2 sets of) pads = £1200.
Re IX Over 5 yrs needs 2 services and pack =£590. Brakes don't get worn much due to regen tech being the stoppage mechanism.
Ev tyres are non rft so under £300 which again helps.

[Pentland]

Originally Posted by KRS_SN

12-15k miles a year.
Re X5/7 - Every year it's a minor/major service which is £320/£640 ie £320×3+ 640×2 = 2240. Add in a couple of brake fluid service £100 Then a set of brake discs/(? 2 sets of) pads = £1200.
Re IX Over 5 yrs needs 2 services and pack =£590. Brakes don't get worn much due to regen tech being the stoppage mechanism.
Ev tyres are non rft so under £300 which again helps.

Thanks.
It’s a bit of a specific justification though and specific to the vehicle.
On my F36 and G42 I’m at >10k miles per year. 5 year Service packs were (IIRC) £600 and £800 respectively and covered all you mention for the x5/7.

Tyre prices will depend on vehicle and use but a set of tyres on 5 years wouldn’t be unlikely at up to £800. Brakes and pads, dependant on use but you can’t be foam off a set on an EV at 60k miles either.

[KRS_SN]

Originally Posted by Pentland

Thanks.
It’s a bit of a specific justification though and specific to the vehicle.
On my F36 and G42 I’m at >10k miles per year. 5 year Service packs were (IIRC) £600 and £800 respectively and covered all you mention for the x5/7.

Tyre prices will depend on vehicle and use but a set of tyres on 5 years wouldn’t be unlikely at up to £800. Brakes and pads, dependant on use but you can’t be foam off a set on an EV at 60k miles either.

Appreciate it was specific to my use case situation. The service pack on the x5 if memory serves me right was £1000 for 3 years with bfs not included.
I'm in 26k miles on the ev and front and rear pads are worn 13 and 11%respectively due to regen kicking in each time I press the brake pedal in normal drive mode.
I do believe that there are savings to be made over a 5 year period if doing sufficient miles but the deprecation makes it look like small change.

[Pond]

Originally Posted by MY340i

just to note EV's will start paying VED from next year. This includes any EV from 2017+

That ain't gonna help residuals!

I do find it amazing that people on car forums (not this one) complain about how much road tax is for their 'older' cars.

The typical scenario I see is "I paid £60k for my 2007 POS, and am not happy about paying £600 p/a RFL. It's not fair"
OR
"I don't want a 2007 car, as the 2008 is £100 cheaper road tax. I have £35k to spend on the right car"

[JD6]

Originally Posted by MY340i

just to note EV's will start paying VED from next year. This includes any EV from 2017+

Yes seems to be a flat rate of £180, even for higher value EVs. I guess charging VED makes sense as EVs charged at home pay virtually no tax at all - something like £12 a year in VAT on the electricity only (assuming 10k miles, 7.5p/kWh, 3 miles/kWh).

They’re going to have to find a better way of replacing lost fuel duty revenue with EVs at some point. To do that with VED they would probably need to be closer to £1k…

[isleaiw1]

Originally Posted by JD6

Yes seems to be a flat rate of £180, even for higher value EVs. I guess charging VED makes sense as EVs charged at home pay virtually no tax at all - something like £12 a year in VAT on the electricity only (assuming 10k miles, 7.5p/kWh, 3 miles/kWh).

They’re going to have to find a better way of replacing lost fuel duty revenue with EVs at some point. To do that with VED they would probably need to be closer to £1k…

New EVs will pay luxury car tax if registered after that.

Apparently I should retax my EV this week so I get the renewal next year for free at start of March, just need the V5C apparently...

[JD6]

Originally Posted by isleaiw1

New EVs will pay luxury car tax if registered after that.

Apparently I should retax my EV this week so I get the renewal next year for free at start of March, just need the V5C apparently...

I hadn’t spotted that luxury tax would apply to new EVs. The £40k list threshold seems like it’s going to catch almost every EV, and quite a few other non-luxury ICE cars.

I wasn’t aware that you could retax a car part way through the year. Do you have to declare SORN for a day or something like that?

[isleaiw1]

Originally Posted by JD6

I hadn’t spotted that luxury tax would apply to new EVs. The £40k list threshold seems like it’s going to catch almost every EV, and quite a few other non-luxury ICE cars.

I wasn’t aware that you could retax a car part way through the year. Do you have to declare SORN for a day or something like that?

I havent done it yet. Someone said you had to SORN and then go to the post office to retax, but others are saying you just use V5C to retax, it will say its already taxed but you say you want to carry on and job done.... I have just over 2 years left with the Jag so if I do this I basically will only have to tax it for 4 months for final period of ownership!

[JD6]

Originally Posted by isleaiw1

I havent done it yet. Someone said you had to SORN and then go to the post office to retax, but others are saying you just use V5C to retax, it will say its already taxed but you say you want to carry on and job done.... I have just over 2 years left with the Jag so if I do this I basically will only have to tax it for 4 months for final period of ownership!

Excellent tip thanks. Have just done this. All you need to do is go to the standard gov tax your vehicle page. You need the 11 digit V5C ref number as you don’t have a printed reminder to renew.

No need to SORN, just tax as normal for £0. It takes about 2 minutes.

[MY340i]

Originally Posted by JD6

Yes seems to be a flat rate of £180, even for higher value EVs. I guess charging VED makes sense as EVs charged at home pay virtually no tax at all - something like £12 a year in VAT on the electricity only (assuming 10k miles, 7.5p/kWh, 3 miles/kWh).

They’re going to have to find a better way of replacing lost fuel duty revenue with EVs at some point. To do that with VED they would probably need to be closer to £1k…

would imagine a pay per mile road taxation system being introduced at some point in the near future. Infrastructure is almost there for it.....

[Danj94]

Well I've made my mind up I am going to make the switch into an EV.... not sure which yet.

Tesla Model 3 dual motor
Polestar 2 Dual motor
Jaguar iPace EV400
Mercedes EQC

Probably one of those, will give the 440i a wash this weekend before putting it up for sale. This is probably the first head over heart decision I've made in my life.

Plenty of the Polestars and Model 3's at my work so will have a nosey at those.

[MY340i]

Originally Posted by Danj94

Well I've made my mind up I am going to make the switch into an EV.... not sure which yet.

Tesla Model 3 dual motor
Polestar 2 Dual motor
Jaguar iPace EV400
Mercedes EQC

Probably one of those, will give the 440i a wash this weekend before putting it up for sale. This is probably the first head over heart decision I've made in my life.

Plenty of the Polestars and Model 3's at my work so will have a nosey at those.

I'm sure you were considering an e92 m3 at one point

[isleaiw1]

Originally Posted by JD6

Excellent tip thanks. Have just done this. All you need to do is go to the standard gov tax your vehicle page. You need the 11 digit V5C ref number as you don’t have a printed reminder to renew.

No need to SORN, just tax as normal for £0. It takes about 2 minutes.

also now done... took me longer to find the log book than do the free tax....

so now free until 1 March 2026... result!

[isleaiw1]

Originally Posted by MY340i

I'm sure you were considering an e92 m3 at one point

so was I and then I bought a Mini convertible....
to go with my EV

the trouble is I like lots and only have budget for two!

[AyrshireColin]

Will have had the Taycan for 6 months this weekend so just sat and worked out what the cost has been across 6 months.

I traded in my 8GC and paid a £4,435.46 deposit to get the monthlies where I wanted them, collected the Taycan on the 30-Sep-23 and tax was due on the 8GC the next day. Taking that £570.00 tax 'saving' into account it basically cost me £3,865.46 to change the 8GC into the Taycan.

For 6 full months of driving when taking into account the increased monthly payments for the Taycan compared to the 8GC and balancing that out against the cost of charging and what the cost of fuel would have been the Taycan has cost me an 'extra' £857.90/£142.98pcm to run.

That's all perfectly palatable to me. I have no real interest in the depreciation side of things because as much as I like a new car, if the numbers don't ever work to change it I have another 42 months in the Taycan and hand it back to Porsche - believe me, it's not the worst place to plunk yourself down!

I get lost a little with people basically demanding that I should be outraged by EV depreciation - I'm not, and surmising that I have a 'white elephant' - I've not, or telling the world that I 'need my head looked at' - I don't. I'm a fully functioning adult who can make my own decisions and draw my own conclusions...6 months into the big bad world of EV/Taycan it's all good for me.

[Danj94]

Originally Posted by MY340i

I'm sure you were considering an e92 m3 at one point

Haha yes I was, to be honest if my insurance hadn't doubled in price then I wouldn't be considering a switch at all.

[KCH1984]

Originally Posted by AyrshireColin

Will have had the Taycan for 6 months this weekend so just sat and worked out what the cost has been across 6 months.

I traded in my 8GC and paid a £4,435.46 deposit to get the monthlies where I wanted them, collected the Taycan on the 30-Sep-23 and tax was due on the 8GC the next day. Taking that £570.00 tax 'saving' into account it basically cost me £3,865.46 to change the 8GC into the Taycan.

For 6 full months of driving when taking into account the increased monthly payments for the Taycan compared to the 8GC and balancing that out against the cost of charging and what the cost of fuel would have been the Taycan has cost me an 'extra' £857.90/£142.98pcm to run.

That's all perfectly palatable to me. I have no real interest in the depreciation side of things because as much as I like a new car, if the numbers don't ever work to change it I have another 42 months in the Taycan and hand it back to Porsche - believe me, it's not the worst place to plunk yourself down!

I get lost a little with people basically demanding that I should be outraged by EV depreciation - I'm not, and surmising that I have a 'white elephant' - I've not, or telling the world that I 'need my head looked at' - I don't. I'm a fully functioning adult who can make my own decisions and draw my own conclusions...6 months into the big bad world of EV/Taycan it's all good for me.

The Taycan is one of those cars that IMO is desirable irrespective of the form of propulsion. But if looking at numbers I'm pretty sure the equivalent ICE Panamera would cost more per mile, depreciation included.

Anyway, going by recent threads on this forum we should all be driving 20+ year old E39 5 series'

[gangzoom]

Originally Posted by AyrshireColin

...6 months into the big bad world of EV/Taycan it's all good for me.

The way some on here are dramatising EV ownership, you would think its still 2014/15, CHAdeMO and Ecotrcity is something most people will luckily never experience .

[JD6]

Originally Posted by MY340i

would imagine a pay per mile road taxation system being introduced at some point in the near future. Infrastructure is almost there for it.....

It does feel like that may be the only way given that charging at home makes it tricky to tax the fuel. It’s politically very difficult though, particularly at a time when they’re trying to encourage a shift towards EVs. The introduction of pay per mile has the potential to be another Poll Tax moment…

[isleaiw1]

Originally Posted by JD6

It does feel like that may be the only way given that charging at home makes it tricky to tax the fuel. It’s politically very difficult though, particularly at a time when they’re trying to encourage a shift towards EVs. The introduction of pay per mile has the potential to be another Poll Tax moment…

forget politically difficult, can you imagine our govt or their contractors getting that in and working for less than the price of HS2....