Taycan 4S Cross Turismo
Discussion
Order placed this morning.
Having never owned a Porsche or an Electric car this will be quite a departure for me.
Up until Wednesday this week I had no interest in electric vehicles and was quite happy with my 2017 Audi S6 Avant I'd bought new as my daily. Then I saw Matt Watsons review of the Taycan Wagon on YouTube. A quick conversation with our accountant and the benefits of running fully electric vehicles as company cars for director/owners compared to paying privately for our own vehicles was so clear that this become an absolute no brainer.
So we booked a test drive at Porsche Tonbridge this morning and ordered a pair.
The test drive was interesting, the salesman drove a Taycan Turbo, myself and my business partner drove the 4S behind him. There were a couple of times during the test drive that were full acceleration moments entering a dual carriageway, the Turbo went, we followed. When we got back we asked if he was giving it full beans, which he was. The one thing that became apparent straight away was the price delta between the 4S and the Turbo doesn't relate to the perfomance differential. It's not a £20K or so step up. Even the sales guy said the 4S was the sweet spot, it's still laugh out loud fast.
Now the wait begins till early next year.
My business partner is going with the Gentian Blue.
6+35 business lease through Porsche at circa £1,100 + vat per month - TBC as we tinkered with the specs this morning.
So this is what I ordered:-
Having never owned a Porsche or an Electric car this will be quite a departure for me.
Up until Wednesday this week I had no interest in electric vehicles and was quite happy with my 2017 Audi S6 Avant I'd bought new as my daily. Then I saw Matt Watsons review of the Taycan Wagon on YouTube. A quick conversation with our accountant and the benefits of running fully electric vehicles as company cars for director/owners compared to paying privately for our own vehicles was so clear that this become an absolute no brainer.
So we booked a test drive at Porsche Tonbridge this morning and ordered a pair.
The test drive was interesting, the salesman drove a Taycan Turbo, myself and my business partner drove the 4S behind him. There were a couple of times during the test drive that were full acceleration moments entering a dual carriageway, the Turbo went, we followed. When we got back we asked if he was giving it full beans, which he was. The one thing that became apparent straight away was the price delta between the 4S and the Turbo doesn't relate to the perfomance differential. It's not a £20K or so step up. Even the sales guy said the 4S was the sweet spot, it's still laugh out loud fast.
Now the wait begins till early next year.
My business partner is going with the Gentian Blue.
6+35 business lease through Porsche at circa £1,100 + vat per month - TBC as we tinkered with the specs this morning.
So this is what I ordered:-
Taffy66 said:
Nice spec 21ATS. I'm also getting a 4S Cross Turismo which should get here in July and like you taking advantage of the tax perks through the business. I thought about paying through a PCP but also considering using Porsche Business lease. With the latter how do you get treated for tax purposes as i assume you can't get the 100% First year WDA this way whereas with PCP you can.
I'm yet to have a full conversation about the VAT side of it with my accountant, so how we fund it might change.At this point I'm not sure if we can claim all the vat back on the monthlies or only 50% due to there being personal use.
Whatever way it's so much cheaper than what we're doing now it would hav e been daft not to.
Dealer said more than 90% of Taycan sales are business, they just make so much sense. No doubt that will change in the future!
R8_Matt said:
Exciting.
I ordered one too: first EV and first Porsche. My order was in March and build is October. Happy Days!
I ordered one too: first EV and first Porsche. My order was in March and build is October. Happy Days!
Taffy66 said:
Nice spec 21ATS. I'm also getting a 4S Cross Turismo which should get here in July and like you taking advantage of the tax perks through the business. I thought about paying through a PCP but also considering using Porsche Business lease. With the latter how do you get treated for tax purposes as i assume you can't get the 100% First year WDA this way whereas with PCP you can.
Post up the spec pictures guys, it's nice too see what others have gone for.I was around the £100K mark, I'll post up the code tomorrow when I'm back in the office, it's on my email in there.
Delivery for us is realistically early next year. Our man at Porsche Tonbridge explained that dealership had taken orders for 24 new cars last week, 15 of which were Taycan's (of which 7 were Turismo's) The other 9 orders they took were spread over every other model. SO you can see how build slots are being sucked up at a rate of knots.
I binned the passenger screen, it wasn't in the car we test drove and I saw little advantage of having it. There were already more screens than I knew what to do with. In fact it took us 20 minutes to figure out how to turn the radio on. I'm really not a fan of touch screen, but right now it seems to be the future. I'd prefer a few buttons for the more important functions then touch screen for the stuff you only change when stationary.
My big ticket item is the wheels, I'd prefer smaller than 21" (for ride quality) but they all just look rubbish, so I went with the options. The test car rode so well on 21's I was impressed and every review I've watched so far has said the Turismo is softer still - perfect for a daily.
Second big ticket item is rear wheel steering, it's a big car and I currently live with a 2017 Audi C7 S6 Avant which is almost the same size. Rear wheel steering will make parking a lot easier and it comes with the enhanced steering at slow speed.
I didn't like the "sound" in the test car, we asked him to turn it off and found it much nicer without.
Panoramic roof was a must for me as is surround view cameras.
I like the no cost option chalk beige interior as it tones nicely with the Cherry paint.
It's shame they don't offer that lovely rich metallic orange colour they do on the Panamera, I would have gone for that if it was a possibility, it would look great with the black trim.
The thing with Porsche though, we may may moan about the options, but unlike Audi or Mercedes you aren't restricted to bundles or packages where you have a whole load of stuff you don't want just to get the one item you did. You spec your car how you want it, after all it's a contract hire deal, it's being handed back and there's no thought whatsoever of speccing it for a good residual.
Oh and I despise privacy glass, so being "allowed" to buy a premium car without it is a big tick in my book.
Delivery for us is realistically early next year. Our man at Porsche Tonbridge explained that dealership had taken orders for 24 new cars last week, 15 of which were Taycan's (of which 7 were Turismo's) The other 9 orders they took were spread over every other model. SO you can see how build slots are being sucked up at a rate of knots.
I binned the passenger screen, it wasn't in the car we test drove and I saw little advantage of having it. There were already more screens than I knew what to do with. In fact it took us 20 minutes to figure out how to turn the radio on. I'm really not a fan of touch screen, but right now it seems to be the future. I'd prefer a few buttons for the more important functions then touch screen for the stuff you only change when stationary.
My big ticket item is the wheels, I'd prefer smaller than 21" (for ride quality) but they all just look rubbish, so I went with the options. The test car rode so well on 21's I was impressed and every review I've watched so far has said the Turismo is softer still - perfect for a daily.
Second big ticket item is rear wheel steering, it's a big car and I currently live with a 2017 Audi C7 S6 Avant which is almost the same size. Rear wheel steering will make parking a lot easier and it comes with the enhanced steering at slow speed.
I didn't like the "sound" in the test car, we asked him to turn it off and found it much nicer without.
Panoramic roof was a must for me as is surround view cameras.
I like the no cost option chalk beige interior as it tones nicely with the Cherry paint.
It's shame they don't offer that lovely rich metallic orange colour they do on the Panamera, I would have gone for that if it was a possibility, it would look great with the black trim.
The thing with Porsche though, we may may moan about the options, but unlike Audi or Mercedes you aren't restricted to bundles or packages where you have a whole load of stuff you don't want just to get the one item you did. You spec your car how you want it, after all it's a contract hire deal, it's being handed back and there's no thought whatsoever of speccing it for a good residual.
Oh and I despise privacy glass, so being "allowed" to buy a premium car without it is a big tick in my book.
Edited by 21ATS on Sunday 23 May 23:00
Edited by 21ATS on Sunday 23 May 23:17
Taffy66 said:
With Contract Hire or Leasing the FY 100% WDA doesn't enter the equation as all you're doing is renting the car over a fixed term. The monthlies are subject to VAT on top. The car doesn't go into the business balance sheet either as an asset or as depreciation so no writing down allowance is applicable. This is my main gripe with leasing a Taycan.
OTOH the monthlies are allowable against business profit less the private proportions. VAT can be reclaimed in full if used solely for business but if there is an element of private use then only 50% of the VAT can be reclaimed.
What i intend to do is to get two quotes from my OPC, one for Leasing and the other for PCP. To compare apples with apples both quotes will have identical deposit, agreed annual mileage and term of contract. I will then run them past my accountant to include all tax savings and simply go with the option which costs less(after tax) over the whole term.
At least with PCP you can claim the 100% first year allowance against profit so the leasing will need to be ultra competitive to beat it.
We're currently doing the same exercise with our accountant.OTOH the monthlies are allowable against business profit less the private proportions. VAT can be reclaimed in full if used solely for business but if there is an element of private use then only 50% of the VAT can be reclaimed.
What i intend to do is to get two quotes from my OPC, one for Leasing and the other for PCP. To compare apples with apples both quotes will have identical deposit, agreed annual mileage and term of contract. I will then run them past my accountant to include all tax savings and simply go with the option which costs less(after tax) over the whole term.
At least with PCP you can claim the 100% first year allowance against profit so the leasing will need to be ultra competitive to beat it.
For those of you still figuring out if you should contract hire or buy one of these I recommend you have a chat with Darren Gibson.
I just have and I'm glad I did, we'll be changing our accountant as a result.
Darren has previously done finance for me and I thought I'd give him a call about the Taycan's. It seems he's bought one himself for the same reason we all are - Tax.
https://dg18son.com/
Business finance lease is the way forward
I just have and I'm glad I did, we'll be changing our accountant as a result.
Darren has previously done finance for me and I thought I'd give him a call about the Taycan's. It seems he's bought one himself for the same reason we all are - Tax.
https://dg18son.com/
Business finance lease is the way forward
Edited by 21ATS on Tuesday 25th May 15:17
MDL111 said:
I really like how these look and definitely need to test drive one at some point, but would you guys - esp the ones who have owned a Taycan, so have some first hand longer term experience - buy them if there was no tax benefit - i.e. if the choice is T4S CT at €112k base vs. 911 C2 at €108k base, would people really buy the Taycan? Every time I think about one, I then consider what else I could buy with that money (incl. used cars such as a 991 GT3 or any combination of other cars) at which point I scratch my head and think I must be slightly insane and close the configurator again....
Up until last week I had no interest in electric vehicles. I wasn't even a fan of the Taycan. That changed as soon as I saw the Cross Turismo.I have always liked the Panamera GTS Sport Turismo since it came out, but I couldn't stomach the depreciation. The entry price was too high.
I love a fast wagon, my daily is currently a 2017 Audi S6 Avant.
So when the Taycan CT came out I knew there were benefits of EV's as a company director, I just didn't really grasp how big the benefits were.
Would I buy this privately? Absolutely not, but I wouldn't be buying any Porsche privately - not new anyway. It's a perfect vehicle in a tax loophole that will no doubt be shut in the near future. I'd be daft not to take advantage of it now.
ds666 said:
I've already ordered via Porsche - can you share the numbers ?
As already discussed in this thread, buying allows you to offset to the full value of the purchase against taxable profit in year one. Using simple figures, if your OTR price is £100,000 - that entire amount can be written down in year one.
Of course when you sell it, say at some point in the future for £50,000 you'd need to repay the same percentage of £50K. So you simply keep it long term and keep it on the books.
The battery warranty is 8 years. The rest of the car is 3 years.
If you contract hire, there's no capital write down allowed, you're renting for a term period then handing the car back, you can offset the contract hire payments against your profit and reclaim 50% of the VAT as no doubt there will be personal use.
I'm waiting for the figures in black and white, once I have them I'll post them here to describe our circumstances.
This is also subject to a chat with an accountant as there is an lement of private use that can't be included in the write down.
So whilst we have already ordered and placed a deposit with Porsche, how you choose pay for the car or finance it will determine which tax route is chosen.
Edited by 21ATS on Tuesday 25th May 18:02
Taffy66 said:
Another point worth making is that by choosing a payment option which allows full ownership at the end of the term allows flexibility. For instance lets assume the UK removes all tax perks in three years time and you HAVE to hand your leased Taycan back with no tax perks available to buy another one.
Indeed, the option to keep at the end of the agreement seems quite important. We're expecting to keep these for some time. Well at least as long as it's viable from a tax perspective.
993rsr said:
These sound like a genuine perk like the old days of company cars, after years of not bothering due to the dreaded BIK will re-visit.
That's what caught us by surprise. For so many years it's not been a viable financial choice to run a car through your business that I didn't even bother looking.Might as well take advantage whilst it's on offer.
Taffy66 said:
I didn't bother with the passenger screen, but I did go with the surround view parking. I've got so used to the birds eye image whilst parking my Audi it's become a must have on larger cars for me.Have a chat with your dealer about the cables - you've probably got more than you need there.
The only option multiple people advised us to have was the electric plug cover thing, the cover retracts into the body and stops it being snapped off when open and charging, either accidentally or on purpose.
We found a vast difference between the driving modes during our one hour test drive. We were driving a 4S and following a Turbo, we had no difficulty keeping up with the Turbo, it only started to pull away from us on a dual carriageway at the very top end of the speed range.
Normal was relatively sedate, sport upwards was very different, the response being immediate.
AFAIK all the CT's have the higher spec battery, there are no battery options on the Cross Turismo.
Fortunately the dealer we went to was very knowledgable as we had a lot of questions being EV and Porsche virgins!
Normal was relatively sedate, sport upwards was very different, the response being immediate.
AFAIK all the CT's have the higher spec battery, there are no battery options on the Cross Turismo.
Fortunately the dealer we went to was very knowledgable as we had a lot of questions being EV and Porsche virgins!
Edited by 21ATS on Wednesday 26th May 11:40
Last night I did a spec comparison between the 4S we ordered and a Turbo to an indetical spec, the difference was £25k, but closer to £22K with absolute like for like spec as the upgraded interior is built into the turbo price.
For me, there's not £22K's worth of perfomance extra in the Turbo. Oh sure it's quicker. But I think you'd have to be on a drag strip to notice. Real world there seemed very little in it.
For me, there's not £22K's worth of perfomance extra in the Turbo. Oh sure it's quicker. But I think you'd have to be on a drag strip to notice. Real world there seemed very little in it.
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