New Company Car time - PHEV or BEV?

106lad

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Dilemma Time-

Its time to decide on a new company car. Currently have a 330e MSport Pro. Been a decent company car, but the BiK savings to be had on BEV make it a very appealing prospect.

Ill freely admit that PHEV is just a company car tax fiddle, an electric car lugging around an ICE when on Electric, and an ICEV lugging a battery when on Petrol means it not very economical, which didn't really bother me as it have a fuel card with it - another Taxable Benefit. And at that I never really charged it at home, but the relaxation while running on electric mode was pretty good.

However; a BEV with 2% BiK is now very appealing, but, there is no 'Fuel Card' as such and any charging would need to be paid by myself, and business mileage recouped.

Dilemma 1 - With Electricity prices where they are, and Pay to Charge infrastructure, is it still cheaper 'all in' with the BiK Saving, and the electricity cost than having the Tax Payable on a PHEV and a Fuel Card?

Dilemma 2 - Company Budget is normally £600-700pm maintained (3+36). It essentially pick your own as long as it fits that, which 3 years ago seemed a lot easier than it looks now with the cost of everything heading up. Theres Tesla M3LR floating at the very high end of that budget, iX3's seem possible. Polestar 2?

Essentially looking some feedback from owners as to whether its still a cheap way of motoring even with Electricity Rates heading the way they are, and if im missing some BEV's that are worth a look at?

Cheers.
 

Rocko

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Can you charge at home? If I switch to the PowerNI EV tariff @ 16p per kWh, I'll be getting ~360 miles for £12. Work might even pay for your charger to be installed.

What's your mileage requirements?
 

Graham2

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Will depend on your salary, the mileage you do annually and the split of personal/business mileage.

Use comcar.co.uk to work out the BIK on both options and go from there.

leasing.com will show you what you can get for your budget.

It should be a complete no-brainer though as a company car.
 

106lad

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106lad
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Can you charge at home? If I switch to the PowerNI EV tariff @ 16p per kWh, I'll be getting ~360 miles for £12. Work might even pay for your charger to be installed.

What's your mileage requirements?
Average miles on the 330e are around 12,000 per year.
Ill have a charger at home, either fitted by myself or work, but the availability will be there.
Will depend on your salary, the mileage you do annually and the split of personal/business mileage.

Use comcar.co.uk to work out the BIK on both options and go from there.

leasing.com will show you what you can get for your budget.

It should be a complete no-brainer though as a company car.
if its based on a 40% earner, unless I'm reading incorrectly, even the saving on the Fuel Card benefit, its approx. a £2500 saving a year, which I think would cover any charging on an EV?
 

Graham2

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Average miles on the 330e are around 12,000 per year.
Ill have a charger at home, either fitted by myself or work, but the availability will be there.

if its based on a 40% earner, unless I'm reading incorrectly, even the saving on the Fuel Card benefit, its approx. a £2500 saving a year, which I think would cover any charging on an EV?

Depends on your exact salary but I don't think you're reading that correctly. At £40k salary the private fuel benefit on a 330e will cost you £65/month, at £80k a year its £110/month.
 

106lad

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106lad
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Depends on your exact salary but I don't think you're reading that correctly. At £40k salary the private fuel benefit on a 330e will cost you £65/month, at £80k a year its £110/month.
Your right. It's more like £1200 a year.
 

StevenMc29

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My BIK this year is £818 which I pay the relevant rate of tax on. That means a fully insured and maintained car for 20-40% of that BIK figure annually.

I charge mostly at home overnight and am still way better off. Getting 3-4miles per kWh so can some basic sums to see roughly how much charging will cost depending on your rate.

Also, swapping from ICE or PHEV to full EV could be the difference between being to claim some or all of child benefit (if it applies) or not.
 

106lad

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106lad
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My mind is fairly made up that EV is the way forward. It was more the electric bill being extortionate rates that had the fear going.
 

davyk31

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And if you charge back to your company for business miles you can make a packet there if you have charged at home.
Total no brainer to go EV for a company car driver no matter what maths you do.
 
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