Some Advice Please

[Cappo]

I've got my eye on a 72 plate Taycan (registered in December 2022) which is for sale at a non-Porsche dealer. Despite being almost 2 years old the car only has 50 miles on the clock and I've been told is still eligible for 100% first year tax relief if bought through my company.

I was wondering if there's anything that I should be concerned about, considering the car has not been driven much over the past couple of years? Apparently the original Porsche warranty is still valid until December 2025 but I was wondering if sitting around might have affected the 12v battery or maybe some other parts? Will having so few miles on the clock affect the Porsche warranty?

I realise there will probably be a few recalls outstanding which I can handle, I just don't want any problems that Porsche refuse to fix under warranty because it hasn't been driven frequently enough.

Thanks for all your words of wisdom

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[Persuader]

Please reassure yourself on the following before you commit. Don't want to be a party pooper, only trying to help.
Firstly. How do you know for sure that it hasn't had its mileage "adjusted".
Secondly why would a 50 miles old Porsche be for sale at a non-porsche dealer?
Thirdly you should check re 100% first year tax relief as it is only applicable to brand new or near new demonstrator vehicles. How can it be a demonstrator if being sold by a non-porsche dealer.

 

[Cappo]

Those are all very good points and I will look into them! I didn't realise it was possible to fake the mileage on the odometer. Thanks very much

 

[SergeyIndy]

Assuming odometer checks out, this is a brand new Taycan with a year warranty left on it, so you should be getting at least a discount for what it would cost to CPO it to get at least 2 more years after factory warranty expires. CPO process will detect and fix any issues given it is under warranty.

The downside is the following, at 2 years you are due for a 2-year service regardless of mileage, but CPO cost would cover that which is a short checklist (labor cost involved) and brake fluid flush that should be covered for free with the brake hoses recall, and the cabin filter can stay original since time does not impact its performance. Other items that do not age well are tires (since they have not been broken in yet), wipers, and remote batteries. 12V battery can die if long storage procedure is not followed to keep it feeding current and may not even come back if drained to nothing.

Please post full spec to see what year and options it has for us to provide further feedback if you like.

 

[Cappo]

Assuming odometer checks out, this is a brand new Taycan with a year warranty left on it, so you should be getting at least a discount for what it would cost to CPO it to get at least 2 more years after factory warranty expires. CPO process will detect and fix any issues given it is under warranty.

The downside is the following, at 2 years you are due for a 2-year service regardless of mileage, but CPO cost would cover that which is a short checklist (labor cost involved) and brake fluid flush that should be covered for free with the brake hoses recall, and the cabin filter can stay original since time does not impact its performance. Other items that do not age well are tires (since they have not been broke in yet), wipers, and remote batteries. 12V battery can die if long storage procedure is not followed to keep it feeding current and may not even come back if drained to nothing.

Please post full spec to see what year and options it has for us to provide further feedback if you like.

Thanks Sergey. Very helpful. It's a Dec 2022 RWD Performance Plus Taycan with quite a few options:

#Stitching and seat centres Decorative stitching in contrasting colour
#Exterior ASV Protective film (front)
#Sport Design Side skirts
#Electric folding exterior mirrors
#Side window trims in Black (high-gloss)
#‘PORSCHE’ logo LED door courtesy lights
#Porsche Electric Sport Sound
#Adaptive Air Suspension
#Sport Chrono Package incl. mode switch
#Power Steering Plus
#21-inch Taycan Exclusive Design wheels
#LED main headlights including Porsche Dynamic Light System Plus (PDLS Plus)
#Automatically dimming exterior and interior mirrors
#Panoramic roof, fixed
#Windscreen with grey top-tint
#Privacy glass
#Park Assist including Surround View
#Lane Change Assist
#Adaptive Cruise Control
#Comfort Access
#Advanced Climate Control (4-Zone)
#4+1 Seats
#Ambient lighting
#14-way Comfort front seats with memory package
#Heated GT sports steering wheel in leather
#Storage Package
#Smoker package
#Porsche Crest embossed on headrests (front and outer rear seats)
#'PORSCHE' Logo on centre console storage compartment lid


Apparently it would have been £115k when new. Now being advertised at £80k. I'd be very interested to hear what you guys think it's worth now considering it's no longer the current facelift model

Thanks

 

[SergeyIndy]

Hi Chris, this one is well equipped with all the right things and then lots of nice to haves. The usual must haves are there for a loaded RWD. If anything, that I may say is missing on the comfort side are Leather Interior (cannot see if that is the case from the list) vs. Standard Interior and I do not see Bose sound. Then on the performance side for a RWD you have a larger battery (PB+) and Sports Chrono with GT steering wheel, which is great, but missing a nice to have Rear Axle Steering.

 

[Cappo]

Hi Chris, this one is well equipped with all the right things and then lots of nice to haves. The usual must haves are there for a loaded RWD. If anything, that I may say is missing on the comfort side are Leather Interior (cannot see if that is the case from the list) vs. Standard Interior and I do not see Bose sound. Then on the performance side for a RWD you have a larger battery (PB+) and Sports Chrono with GT steering wheel, which is great, but missing a nice to have Rear Axle Steering.

OK thanks very much for your insight Sergey

 

[Dabz]

The biggest thing to check here is the first year allowances for the purchase through your business. The rules are quite strict that it must be brand new or ex demo, and depending on your accountant you may find this is bending the rules as it has somehow ended up at another dealer and being sold way below list price. It may not count as new and you may not be able to write off against a vehicle that has already depreciated.

Having said that you’ve already made the savings as it has already taken a heavy depreciation hit so it may matter less if you can offset the tax.

 

[D00notD00d]

Whilst the car still has around 1 year manufacturer warranty and 6 years battery warranty remaining, it is possible that could be invalidated if the maker’s storage instructions haven’t been followed.
There are instructions in the Driver’s Manual about maintaining high voltage battery charge. These are referenced in the battery warranty terms and conditions. See extract below. The stored battery history will record whether the terms have been followed.
Without more background, history and warranty support info, buying the car could be a gamble. Your local Porsche dealer may be able to help with info, within data protection constraints, particularly if they sold the car.
The tyres could have flat spots and need replacing.
Unused/ v.low mileage BEVs are not the same as ICE cars In terms of retained value/desirabilty.

i think £80k is an excessive price. A couple of years ago that wouldnt be far off the cost of a base Taycan without options. Options make a car more desirable but don’t much affect the trade value.

Equivalent well optioned demo MY2025 RWD J1.2 cars are now dipping below £80k. That’s where I’d be spending £80k on a Taycan. You’ll still have 2+ years new car warranty, 7+ years battery warranty and maybe an extended Approved used warranty to follow on. Plus greater battery range and other Gen 2 improvements. And maybe reclaim the VAT as well as the FYA.

 

[Persuader]

£80K is too much.
I've just paid only just over £20K more for a 24 Reg Gen1 ex demonstrater 5K miles Turbo S Cross Turismo listing at £164K new.

 

[Cappo]

The biggest thing to check here is the first year allowances for the purchase through your business. The rules are quite strict that it must be brand new or ex demo, and depending on your accountant you may find this is bending the rules as it has somehow ended up at another dealer and being sold way below list price. It may not count as new and you may not be able to write off against a vehicle that has already depreciated.

Having said that you’ve already made the savings as it has already taken a heavy depreciation hit so it may matter less if you can offset the tax.

Thanks Dabz. I've checked HMRC's guidance and it looks like it doesn't necessarily need to be ex demo: https://www.gov.uk/hmrc-internal-manuals/capital-allowances-manual/ca23153

My accountant interprets that as being allowable

 

[Cappo]

Whilst the car still has around 1 year manufacturer warranty and 6 years battery warranty remaining, it is possible that could be invalidated if the maker’s storage instructions haven’t been followed.
There are instructions in the Driver’s Manual about maintaining high voltage battery charge. These are referenced in the battery warranty terms and conditions. See extract below. The stored battery history will record whether the terms have been followed.
Without more background, history and warranty support info, buying the car could be a gamble. Your local Porsche dealer may be able to help with info, within data protection constraints, particularly if they sold the car.
The tyres could have flat spots and need replacing.
Unused/ v.low mileage BEVs are not the same as ICE cars In terms of retained value/desirabilty.

i think £80k is an excessive price. A couple of years ago that wouldnt be far off the cost of a base Taycan without options. Options make a car more desirable but don’t much affect the trade value.

Equivalent well optioned demo MY2025 RWD J1.2 cars are now dipping below £80k. That’s where I’d be spending £80k on a Taycan. You’ll still have 2+ years new car warranty, 7+ years battery warranty and maybe an extended Approved used warranty to follow on. Plus greater battery range and other Gen 2 improvements. And maybe reclaim the VAT as well as the FYA.

Ah I really appreciate your input Doo. That info on battery condition whilst in storage looks critical. I'll need to get to the bottom of that

Cheers

 

[Cappo]

£80K is too much.
I've just paid only just over £20K more for a 24 Reg Gen1 ex demonstrater 5K miles Turbo S Cross Turismo listing at £164K new.

£80K is too much.
I've just paid only just over £20K more for a 24 Reg Gen1 ex demonstrater 5K miles Turbo S Cross Turismo listing at £164K new.

Ok... good to know. Thanks Peter

 

[D00notD00d]

The seller seems to be a ‘low profile’ leasing company. They have other ‘old new’ stock available.
Oddly there’s another leasing company with a similar age & mileage ‘old new’ Turismo advertised.
The leasing market for Taycans suffered from the recent correction on EV residual values and increased borrowing rates. 3 year lease/PCP deals are now generally priced on a 40% residual value. E.g. a Taycan Turbo rental would effectively cost £100k over 3 years. A possible explanation is that they were unable to rent them out.
The asking prices and risk just don’t stack up against Porsche dealer demo prices.

 

[D00notD00d]

The seller seems to be a ‘low profile’ leasing company. They have other ‘old new’ stock available.
Oddly there’s another leasing company with a similar age & mileage ‘old new’ Turismo advertised.
The leasing market for Taycans suffered from the recent correction on EV residual values and increased borrowing rates. 3 year lease/PCP deals are now generallypriced on a 40% residual value. E.g. a Taycan Turbo rental would effectively cost £100k over 3 years. A possible explanation is that they were unable to rent them out.
The asking prices just don’t stack up against Porsche dealer demo prices.

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