BIK Scrapped | Is the Tesla Model S now an Affordable EV?
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- Опубліковано 4 жов 2024
- As a company car or private buyer I have a look at how much the Tesla Model S now costs and have we reached a point where it truly is a comparable price to the Model 3?
First off a look at the Benefit in kind (BIK) tax rates in the UK and how they are changing to encourage the growth of electric cars. If you're cleaver you could find yourself in a Tesla and covering the cost of your fuel for free!
We then look at the price of a good used Model S with low mileage. Has it reached the levels of the Tesla Model 3 yet? Is it a serious consideration if you are looking to buy a Tesla. I have a look at cash prices as well as finance options.
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Thanks for breaking it down Ryan, interesting but, still out of my league! Saw my first model 3 in the wild yesterday, red one, in Stoke on Trent!
Need to be careful as recently Tesla have been limiting super charging speeds and battery capacity for some older vehicles with specific battery packs. Also there is a limitation imposed on cars that have excessively supercharged so that needs to be investigated too! Love my used model s that I opted for over a new model 3 specifically for the hatchback! Keep up the great work
Tom Nicholas thank you. I believe it’s the early 85 kWh model S that is suffering. It does make you wonder if others will follow?
@@EVOpinion there's also the circuit board problems that are arising now, hopefully they can sort it, also help customers out if the warranty is expired due to it being a known fault?
This is the weirdest Crystal Maze yet.
Whatever car you get.. as long as it meets your needs and doesn't cause a financial strain will be the best car for you and the family. I look forward to hearing about your choice.
Yes, the bik is as straight forward as you mention. I ordered a I pace which arrives in a few weeks. From then until April I’ll be paying around £430 a month as it’s got a p11d of 80k and you pay no fuel benefit. Next April for following tax year it will cost me exactly £0 per month. Big unexpected bonus but then it was only going to be about £50 per month as the bik was at 2% but still nice that it’s going to be 0%
Ben Varley brilliant. Thank you for letting me know 😁👍
Surely it's not actually £0. Do you not get a company car OR you can take a cash allowance. You then lose the cash allowance if you take the company car so its not a free car in that sense. Also, I work for a big company and no way do they provide 80k or 90k teslas or jag I Pace to their employees. They still need to lease the car from a leasing company. They'll save on VAT but I imagine even then and allowing for paying the lease gross, they would have to be giving you at least £500/600 a month for your company car allowance and even more if its a fully serviced lease?
Great video & update! 60% of new cars in uk are company cars. EV car sales will explode in UK in April! Great for everyone!
@John W so if you had the choice between an ice company car for £5k per year or electric for £0 per year you would choose ICE? ...interesting!
@John W interesting point for production limits, I know Tesla china are planning 156k a year in additon to the 360k planned for this year, plus other EV manufacturers are ramping up. On range I think thats a mindset. Not many people drive for more than 3 hours with no stops or breaks, so range over 210miles (70mph x 3 hours) should be enough for 99%.
@John W 100% agree on those! China supply currently comes from US so that will give more production bandwidth to rest of world, but agree that ICE will not disappear overnight. I certainly think the UK market will see some big growth in EV's however due to the tax changes. 👍
I will wait for the MG ZS EV as just launched and available from September onwards may even get put on the Motorbility list in January, Just got to get rid of my 2015 24KW 6.6kw Accenta LEAF for a deposit
I understand the Model 3 to Model S price comparison but when you compare monthly payments on the same car between PCP and HP / Loan I don't think you can make a direct comparison. With PCP you aren't buying any equity in the car so at the end of the period you simply hand the car back (or make the baloon payment). With HP or a loan you are buying the car so at the end of the period you own the car and have the residual value perhaps as a deposit towards your next car. So although Monthly payments wise PCP is cheaper, HP may end up better overall when the finance is paid off.
Hi Ryan. To be honest it's all down to what you can afford and the needs of the vehicle. For my family my wife drives a 2018 leaf and she loves it. Its on PCP over 4 years @ £375 a month when the PCP is up we intend to purchase it for £7400. I have a Nissan Qashqai teckna. When that's due for its change we hopefully going for another EV. Tesla! Yes it's a nice motor indeed and I'd defo go for the new model 3 than a second hand model s, but if I can't afford it then I will stick with Nissan. It does what it says on the tin. Keep up the great vlogs Ryan. 👍👌
I think the rules on supercharging say you cannot use it for business.
People live in their Tesla and get all their energy from free supercharging but business use is not allowed?
Oh, and if you are buying second hand then you are not signing that original purchase agreement.
I was thinking of getting a, model s which has, free super charging will it still have said free charging
thevicar1968 vic pre Dec 2017 I think
not sure flip flops are the best things to be driving in, sorry mate...!
If flip flops stopped you being in control you could be prosecuted, as you are breaking Highway Code Rule 97.
Personally, if I had the cash, I'd go for the Model 3, because the Model S is, IMHO, just too wide for UK roads.
1963mm vs 1930 mm 36mm difference or 3.6 cm that's still very wide! Compare that to say a Mazda 3 at just 1770mm or 16cm less.
It does take getting used to, but after 3 days I stopped hitting hedges
If you live in Scotland you can get a interest free loan on a new ev think the max loan is 35k
Great episode
A direct answer to your question is a resounding "No", IMHO.
Again, this is a west-of-the-pond view but, a new Model 3 SR+ now lists for $38,990. A new S is double that. A 5 year old S is $41,800 and a 3 year old one is $43,100, plus $2,000 shipping if you don't live near where the cars are (per Tesla's website). Yes, the free Supercharging on the older S models is attractive, but is it enough to make up the difference? I don't really buy into the "5 year total cost of ownership" model. If you can't afford it up front, you're not going to be spending *any* money on it in 5 years.
Almost everyone who buys a car gets a 5 year loan. That is why the total cost of ownership thing makes sense. How much are you paying per month in total including maintenance and loan during those first 5 years while you are still paying off the initial cost...
@@0ooTheMAXXoo0 Point well made and taken.
However, like all things automotive, your mileage may vary. I'm not speaking for anyone other than myself, and I didn't phrase my statement quite how I meant it.
Now, using the TCOO to compare two (or more) vehicles and decide between them makes sense. But I don't think using it to decide to actually buy the car does.
Regardless of if you finance over 3, 4, 5, even 6 or 7 years, or pay cash, that original price is still the defining factor. It's what the payments are based on. If I can't afford the $45,000 price, it's not very likely I can afford $600/month payments either.
I keep looking at the prices on the Tesla web site but as I need an all round town, distance, 1300kg tow car the one one that fits the bill is the X, unfortunately the price is well out of our range whereas a contract Range Rover p400e does the local driving all electric then switches to petrol for distance and towing all within budget !
Steven Barrett yes but it's a rangerover the benefit would be you won't need to charge it because it'll always be on the back of a recovery truck having broken down
TheSparky750 had a few, currently got the Evoque, none have ever missed a beat, then again they have all been serviced correctly!
he certainly fried my brain...
Looking past the purchase price.............an out of warranty model S?
At no point did he talk about a car that was out of warranty. The 8 year 120,000 mile warranty stays with the car like the free supercharging no matter how many times it was sold on...
Didn’t realise the rest of the car excluding the battery had a warranty for 8 years and 120k miles....absolute bargain.
@@BRI535D it doesn't....
It's an excellent buy and you should buy it.
Anti Petrolhead ha! If only. ☹️
Very well informed video. Looks like I'll be keeping my Leaf a little bit longer though lol :)
What about tax on running EV's as a sole-trader or partner of a partnership?
Even before the price drop, 38050 + 850 delivery fee is not the same as 44950 or whatever the Model S is. And you get a new car vs a 5 year old one. Not a very constructive comparison on that side. Thanks for explaining the BIK stuff, never understood it
Model 3 is no good if you have kids and dogs due to no hatch. Also total cost of ownership of used s is much cheaper than new model 3 due to deprecation.
The new car will depreciate faster?
@@trickys77 You put your kids or dog through the hatch and into the trunk? 99% of families that has had a car throughout history did not have a hatch... how did they survive? All those sedans for so many decades....
@@0ooTheMAXXoo0 yes I prefer my dog sitting in the trunk (boot) than in with my kids. 79.1% of global car sales are hatch for practicality, but I think the US has a sedan preference. Out of interest if you have your family taking up the seats and a sedan trunk, where would you put your dog? (i have a big dog...)
No way José. I will go ICE Again. Maybe next time. I lease a Honda CR-V EX with $6K down for $212 a Month..EV way too much. Gas $2.49 per gal.
So that's £1.99 per US gal, in the UK that would cost you £4.90.
So it makes more sense for us in Blighty :)
In the USA we are paying over $7 per gallon if you include the tax money that goes to oil subsidies. Car companies rip you off selling a product that they have designed to need constant service and still designed to fail. Oil companies rip you off by getting most of their money through subsidies so that they can seem to offer a cheap product. There you are, glibly supporting their scams to the detriment of the health of everyone living on the planet.
My wife groaned when she heard that -our illustrious lea- the government had found yet another way to complicate her job in Payroll.
RWBHere oh no. Bless her. The government are good at introducing new ideas without consulting the people who implement it😬
So previously BIK as far as i know went hand in hand with when the car was purchased so you paid say 16% year 1 14% year 2 etc. If i understand this correctly now it's by the tax year so if my Model 3 arrives in October (i can live in hope) i just pay the 16% until April then it's gone or am i stuck at 16% till the following October?
16% until April and then 0% until the next april, then increasing at 1% pa for 2 years.
First again! Fanboy!
Andy, don't despair you could do a Northern version for all us Northerners.
Sorry to mention this, but your choice of footwear is illegal in the UK for driving. I will be quiet now and carry on watching.
Saw a model s on ebay for 29k the other day free supercharging etc Hmmm or a, new kia not so sure now am I 😉
i'm in the same boat Dave.... id love the kia but the ground clearance in abysmal.... too many speed bumps in my area... have a deposit on the vw but i keep looking at a model s bit of a waiting game... theres also the resale value to think of
aajules 4 year old Tesla has hit bottom of the depreciation curve at this point
Have you seen : ua-cam.com/video/KL_dvQ8XJZo/v-deo.html .... I think you were a little bit rude about the potential quality on this car .... turns out you were possibly wrong ... Might I suggest you have a look at the MG yourself ?
he certainly fried my brain...