Salary sacrifice A290 vs used Honda E / i3

[PrinceRupert]

I am pondering the replacement for my MG4 which goes back in June. It was on salary sacrifice at around 350 pcm net of tax.

I have only doing 5000 miles in three years and no long journeys. My first instinct was to buy a second-hand EV as this would work out cheaper. I narrowed it down to a Honda E or BMW i3.

However today I noticed the A290 on salary sacrifice is not particularly expensive, and it looks quite attractive.

I can get a top spec A290 GTS+ with the blue paint for:



So, 408pcm amortized over three years.

The Honda E I'd be looking at something like this: autotrader.co.uk/car-details/202601239371870?sort=relevance&twcs=true&searchId=8a72aef4-59b6-401c-a63f-b4600c30e314&aggregatedTrim=Advance&make=Honda&model=Honda+E&page=1&postcode=se91la&advertising-location=at_cars&fromsra=&backLinkQueryParams=aggregatedTrim%3DAdvance%26channel%3Dcars%26make%3DHonda%26model%3DHonda%2520E%26postcode%3Dse91la%26sort%3Drelevance%26flrfc%3D1&calc-deposit=1096&calc-term=48&calc-mileage=10000

I'd be around £1000 to insure it per year. AI assumes £1070 depreciation, £300 service and MOT, for a total annual cost of £2370 and monthly cost of £198.

Do these depreciation figures seem realistic? Am I taking any major risk on battery failure or major degradation with the Honda E? I'm assuming on those numbers the Honda E would work out as MUCH cheaper than sal sac?

The reason I ask is the general wisdom seems to be to lease not buy EVs. Even if i bought a newer/lower mileage one (2022, 7k miles) for more money (15k), it still works out a lot cheaper (AI reckons 264 pcm).

thoughts?

[normalbloke]

Will the Honda E come close to the range you need? We like them a lot, but went for an I3 as the Honda range was just too restrictive for us.

[PrinceRupert]

normalbloke said:

Will the Honda E come close to the range you need? We like them a lot, but went for an I3 as the Honda range was just too restrictive for us.

I've probably done more than 100 miles twice in three years in the MG4. I've got a second petrol car (Maserati Gransport) that will do most of my long distance driving, except ocasionally in winter weather. But I don't do much of that.

[Jamescrs]

I get that this is Pistonheads and of course anyone should go for the A290 over a standard Renault 5 but i'd have a look at how the normal Renault 5 figures compare because I suspect that it would be pretty much as good in the circumstances

[andrewpandrew]

£1k a year is steep to insure a Honda e. Ours costs £300 per year.

Aside from that, it’s a fabulous car, absolutely love ours. I was speaking to a chap the other day with a new Renault 5, who used to have an e, and he said the Honda is the better drivers car. Mine came with 5 years free servicing too, so to date it has literally just cost the price of an MOT.

[PrinceRupert]

Jamescrs said:

I get that this is Pistonheads and of course anyone should go for the A290 over a standard Renault 5 but i'd have a look at how the normal Renault 5 figures compare because I suspect that it would be pretty much as good in the circumstances

Barely any cheaper - 388 vs 353 for the top spec of each.

andrewpandrew said:

£1k a year is steep to insure a Honda e. Ours costs £300 per year.

Aside from that, it s a fabulous car, absolutely love ours. I was speaking to a chap the other day with a new Renault 5, who used to have an e, and he said the Honda is the better drivers car. Mine came with 5 years free servicing too, so to date it has literally just cost the price of an MOT.

It is what it is on insurance - an at fault write off last year, an SP30, and a suburban London postcode doesn't help.

[SWoll]

Those depreciation figures look very optimistic for the used cars, and with your high insurance costs I'd suggest the salary sacrifice for the Alpine does look a good deal.

Not having to mess about with MOT's, tyres, servicing, extended warranties etc. on a used car is worth a few quid as well.

If you assume at least £150 a month on depreciation, £80 for insurance, and another £50 for other stuff then you're looking at £100 a month extra for a brand new car with zero hassle. You also donlt need to find the £10-15k to buy the car, be that cash or a loan with interest to consider?

[PrinceRupert]

SWoll said:

Those depreciation figures look very optimistic for the used cars, and with your high insurance costs I'd suggest the salary sacrifice for the Alpine does look a good deal.

Not having to mess about with MOT's, tyres, servicing, extended warranties etc. on a used car is worth a few quid as well.

If you assume at least £150 a month on depreciation, £80 for insurance, and another £50 for other stuff then you're looking at £100 a month extra for a brand new car with zero hassle. You also donlt need to find the £10-15k to buy the car, be that cash or a loan with interest to consider?

You think a 11k Honda E will be close to 5-6k in three years? I'd be a little surprised, that's the price of ratty old Leafs at the moment, but it's a bit of an unknown I accept. I'd also be pretty surprised if it cost £600 a year on MOT (£60), tyres (probably won't go through a set in three years given my mileage), servicing (£150?), extended warranties (won't pay for one) - probably closer to £200-250 a year. I suspect you're probably closer to £200 a month extra for the new car on sacrifice.

I have the cash, but I guess there is an opportunity cost of that sitting in a GIA.

[MOBB]

I have a blue Honda e 22 plate and have ordered a A290 GTS on salary sacrifice as the deals are superb at the moment

The Honda is wonderful and I will miss it a lot, but I am looking at doing running/cycling events and going to gigs in Birmingham and the Honda doesn t quite cut it for that

I paid £14.5k a year ago for my e from a main dealer with 3 years warranty, and Motorway suggest I would get £13.5k - the values plummeted from new but now they seemed to have settled

I think they are a little cult-car like and as no more are being made they will hold decent value from now on

Beware I viewed 7 e s before buying mine, there is a lot of crap out there even at main dealers

Edited by MOBB on Thursday 19th March 18:15

[MOBB]

By the way mine will be available June ish :-)

[PrinceRupert]

MOBB said:

By the way mine will be available June ish :-)

The MG4 goes back in June Maybe it is fate

The key question though is .... is it highlighter yellow.

I want highlighter yellow.

EDIT: see you said blue....

[andrewpandrew]

MOBB said:

Beware I viewed 7 e s before buying mine, there is a lot of crap out there even at main dealers.

Yes, I would second that, and I only saw cars at main dealers. One had a completely collapsed seat bolster with foam spilling out of it, another had pen marks all over the seats, like a kid had gone mad with a Biro. Lots of them were just generally very tatty. It amazed me that dealers were happy to stick cars like that on the forecourt. I ended up finding a mint Platinum White one, which was my preferred colour, paid a bit more but it looks more or less brand new and I’ve had it a few years now.

[_Rodders_]

Think there will be one of these in my future. My SS MG4 doesn't go back until February though.

I also fancy the yellow one.

[ChrisH72]

What's the realistic range for the Honda e?

[MOBB]

I’d say 100 summer, 75 winter generally

[MOBB]

PrinceRupert said:

MOBB said:

By the way mine will be available June ish :-)

The MG4 goes back in June Maybe it is fate

The key question though is .... is it highlighter yellow.

I want highlighter yellow.

EDIT: see you said blue....

I wanted yellow too, but after viewing so many bad ones I decided all colours would be ok and bought on condition