UK Budget - good news

[Andics]

https://www.thisismoney.co.uk/money...-low-BiK-rates-cheaper-road-tax-chargers.html

Looks like business incentive are staying

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[Bennachie]

Sadly misguided. 'The man in the street' has to be incentivised to stimulate uptake. BIK only is what has conributed/caused the disastrous glut/slump in sales of EVs

 

[AllanG]

Sadly misguided. 'The man in the street' has to be incentivised to stimulate uptake. BIK only is what has conributed/caused the disastrous glut/slump in sales of EVs

Totally agree, as there is no incentive for a private buyer to purchase any EV using their own money!!

 

[The Riddler]

Totally agree, as there is no incentive for a private buyer to purchase any EV using their own money!!

I did, but then I’m probably an idiot…

 

[Bennachie]

You are not alone and not necessarily wrong BUT, you are a very small minority......

 

[Andics]

Sadly misguided. 'The man in the street' has to be incentivised to stimulate uptake. BIK only is what has conributed/caused the disastrous glut/slump in sales of EVs

Well, I am being selfish and thinking about my own ownership cost, I am sorry for private buyers

 

[The Riddler]

You are not alone and not necessarily wrong BUT, you are a very small minority......

indeed I am… it’s a fantastic car, even as a private purchase, I just wish it hadn’t plummeted to the value of a second hand Steps album…

 

[Bennachie]

You and me both................ just enjoy it. I believe it won't drop further ?

 

[ct4s]

Company owners / drivers will eventually be taxed out of EVs given that BIK will increase 1% point each year and the tax is charged on the retail price of the car not how it’s valued in the company accounts.
Imagine paying 9% or more BIK (multiplied by your tax rate) on the list price of a Turbo S when it’s been devalued 75%.
Co car tax legislation is utterly ridiculous.
They should encourage companies to buy 2nd hand and / or keep cars for longer, and charge BIK on the value of the car.

 

[Murph7355]

indeed I am… it’s a fantastic car, even as a private purchase, I just wish it hadn’t plummeted to the value of a second hand Steps album…

A potential Tragedy, but it was The Last Thing On My Mind when I joined the minority

Fortunately they mucked about with my new order which gave me time to realise the way the wind was blowing, so I bought used. Will still lose a chunk...but less than I would have.

 

[Murph7355]

Company owners / drivers will eventually be taxed out of EVs given that BIK will increase 1% point each year and the tax is charged on the retail price of the car not how it’s valued in the company accounts.
Imagine paying 9% or more BIK (multiplied by your tax rate) on the list price of a Turbo S when it’s been devalued 75%.
Co car tax legislation is utterly ridiculous.
They should encourage companies to buy 2nd hand and / or keep cars for longer, and charge BIK on the value of the car.

I'm not sure.

I don't think the company car rules that have been in place have helped anyone especially...and I really don't think hefty tax breaks for 6 figure EVs was ever a great idea politically.

Governments could have been much, much smarter on these to both encourage wider adoption, not encourage a residuals mess and also, perhaps, encourage the use of cars built here/encourage cars to be built here (I mean in the UK btw).

 

[Fish Fingers]

indeed I am… it’s a fantastic car, even as a private purchase, I just wish it hadn’t plummeted to the value of a second hand Steps album…

I haven't found depreciation too bad....

I have just agreed to get rid of mine and got nearly 50% back as a p/x after 3y 3m ownership and 23k miles.
It's a 2021 RWD and cost £84k new / £40k p/x offered.

I have bought a BMW i4 M50 that is 'nearly new' .
So BMW have taken the depreciation hit on that car - 35% in a few months / 2k miles.

So it's a bit like buying a house. If the property markets low - sell low, but buy low.

The trick is, to cover your losses with the next car in a buyers market.

The one thing I did discover, is that Porsche dealers aren't interested in getting more Taycans.
Not even returning calls if you are trying to sell, as they are inundated with used Taycans - due to the lunatic tax breaks (back on topic ?).

 

[Murph7355]

... '
So it's a bit like buying a house. If the property markets low - sell low, but buy low.

The trick is, to cover your losses with the next car in a buyers market.
....

Totally agree. Have always only considered the "cost to change".

....
The one thing I did discover, is that Porsche dealers aren't interested in getting more Taycans.
Not even returning calls if you are trying to sell, as they are inundated with used Taycans - due to the lunatic tax breaks (back on topic ?).

This bit isn't great for Porsche. They've buggered up the supply/demand balance and it will take a while to flatten out.

Would they have bid you a cost to change on a new Porsche product??

 

[Fish Fingers]

Totally agree. Have always only considered the "cost to change".


This bit isn't great for Porsche. They've buggered up the supply/demand balance and it will take a while to flatten out.

Would they have bid you a cost to change on a new Porsche product??

Typical was reception at my OPC telling me that the used car buyer doesn't have a phone!! ??

They will email him and he will 'definitely call me back'. Just plain lies!
How thick do they think we are?
I don't like people mugging me off with utter Bullshit.

Its a shame, as I quite enjoyed the car (although it was always a bit big for my liking).

But the 'ownership experience' was dreadful and is why I will never buy another Porsche.

 

[Fish Fingers]

Fully back on topic...
Interesting article today.
https://cardealermagazine.co.uk/pub...or-government-incentives-polestar-boss/309505

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