Who's paying for your next car? Electric or ??? Why?
Poll: Who's paying for your next car? Electric or ??? Why?
Total Members Polled: 99
Discussion
Some time in the future you'll be choosing a new 'main car'. Are you likely to be paying for it yourself (100% privately funded) or will you have company assistance (a company car, EV salary sacrifice scheme, company allowance/contribution etc)? Basically, will you be getting financial help from your company?
Feel free to answer for your other half, parents/in-laws too if you want to.
PH polls only allow 10 options, so apologies if I missed anything out.
Feel free to answer for your other half, parents/in-laws too if you want to.
PH polls only allow 10 options, so apologies if I missed anything out.
If I still had a company car, I'd almost certainly use their EV salary sacrifice scheme and drive an EV. But I don't, and don't have thousands to spend every year, so I'll probably buy a used petrol car next, and wait for battery technology to evolve and charging infrastructure to be more developed.
-Pete- said:
PH polls only allow 10 options, so apologies if I missed anything out.
The options appear to not make any distinction between new/used for anything company assisted. Personally I get a car allowance but the next purchase will be a used ICE car (which from HMRCs perspective is a private car so not subject to BIK, merely taxed as salary and hence no tax perks for buying BEV or Hybrid).
Fastdruid said:
-Pete- said:
PH polls only allow 10 options, so apologies if I missed anything out.
The options appear to not make any distinction between new/used for anything company assisted.Current family car is a new privately purchased Polestar 2 which we’ve had for 20 months and 18k miles. We get on really with it so will likely keep hold of it for another year or two, then change it for another BEV. The Volvo EX30 has peaked my interest, but I do really like the Polestar so it could be another one of those.
Will be relaxing my wife's Mercedes B class with a 6-12 month old BEV EQA or EQB, since Covid she only goes into work a couple of times a week and is down to c.500 miles a month. We plan to pay cash VIA PX ing her B class and taking the rest out of savings.
I currently have a Vito van for work, will be changing this for a petrol or maybe petrol hybrid estate when the time is right but currently need a van sized vehicle. Will be buying part cash part bank loan.
The C63 is staying, long live the V8!
I currently have a Vito van for work, will be changing this for a petrol or maybe petrol hybrid estate when the time is right but currently need a van sized vehicle. Will be buying part cash part bank loan.
The C63 is staying, long live the V8!
I generally buy new cars and keep them a long time.
Would I buy any new car at the moment? No, there's too much uncertainty about the cars themselves and about the rules that may apply in future.
If I "needed" a new car at the moment what would I buy?
If it was only for local journeys I'd buy a cheap, plug-in electric.
If long journeys were required I'd buy an economical petrol car for not too much money.
Would I buy any form of hybrid? No
Would I buy any expensive car at the moment? No
Would I buy any new car at the moment? No, there's too much uncertainty about the cars themselves and about the rules that may apply in future.
If I "needed" a new car at the moment what would I buy?
If it was only for local journeys I'd buy a cheap, plug-in electric.
If long journeys were required I'd buy an economical petrol car for not too much money.
Would I buy any form of hybrid? No
Would I buy any expensive car at the moment? No
Prefer the choice of a lease that car allowance gives but the gap, or now more like a chasm between the cash allowance and lease costs nowadays is prohibitive so as my lease ends in March, will be taking advantage of the BEV Company Car scheme.
As I had the go ahead to order the VW ID4 was the only available option for my grade, which is fine - not going ti complain for something that will cost me £1 day in BIK (£2 in a couple of years when it goes to 4%). That's less than what im paying for on car insurance.
As I had the go ahead to order the VW ID4 was the only available option for my grade, which is fine - not going ti complain for something that will cost me £1 day in BIK (£2 in a couple of years when it goes to 4%). That's less than what im paying for on car insurance.
So far:
* The split between ICE/Hybrid and BEV is roughly 60/40 - Sounds believable, given where we are in the transition to electric.
* For BEV's the split between private or company-assisted is roughly 55/45 - I expected company-funded to be much higher.
* Only 8% of ICE/Hybrids will be company-assisted purchases, which is not surprising.
* The split between ICE/Hybrid and BEV is roughly 60/40 - Sounds believable, given where we are in the transition to electric.
* For BEV's the split between private or company-assisted is roughly 55/45 - I expected company-funded to be much higher.
* Only 8% of ICE/Hybrids will be company-assisted purchases, which is not surprising.
-Pete- said:
* Only 8% of ICE/Hybrids will be company-assisted purchases, which is not surprising.
Thing is though that you made no differentiation between the company-assisted purchases. Company car, salary sacrifice scheme, company contribution all attract BIK and so if you really, ***REALLY*** want something ICE you're going to be bent over and shafted with no lube in tax. It's probably 99% of those "company-assisted" purchases will be BEV (with an occasional Hybrid).
Car allowance however is taxed as salary, so *doesn't* attract BIK and any purchases/leases/PCP etc are treated as "private".
Fastdruid said:
-Pete- said:
* Only 8% of ICE/Hybrids will be company-assisted purchases, which is not surprising.
Thing is though that you made no differentiation between the company-assisted purchases. Company car, salary sacrifice scheme, company contribution all attract BIK and so if you really, ***REALLY*** want something ICE you're going to be bent over and shafted with no lube in tax. It's probably 99% of those "company-assisted" purchases will be BEV (with an occasional Hybrid).
Car allowance however is taxed as salary, so *doesn't* attract BIK and any purchases/leases/PCP etc are treated as "private".
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