[KRS_SN]

A differing viewpoint from me is that in a year I may do 10k miles local commuting and 2k miles in longer journeys hence the better car for me as I spend most time/miles in should be an EV and ICE as a cheaper back up.

[JD6]

Originally Posted by isleaiw1

I',m a bit off balance as my EV is big and also my dog hauler on long journeys - which I have no issues with. And then a small, sporty, manual car for fun - as size and interaction are big elements in having fun to me.

Probably a good way round to do this if the EV has sufficient range for your most regular long journeys. I don’t think there’s an EV out there which could replace the 8 without adding hassle to my most frequent longer trip. It doesn’t help that I can’t easily charge at the destination.

The other factor in favour of the small car being the EV for me was avoiding the £5700 cost of adding a charge point, a long way from the consumer unit.

[TodmordenLad]

Originally Posted by JD6

Probably a good way round to do this if the EV has sufficient range for your most regular long journeys. I don’t think there’s an EV out there which could replace the 8 without adding hassle to my most frequent longer trip. It doesn’t help that I can’t easily charge at the destination.

The other factor in favour of the small car being the EV for me was avoiding the £5700 cost of adding a charge point, a long way from the consumer unit.

I'm in the same boat, sort of. My regular long trip is 330 miles each way, with no way of charging on arrival.
I'm not losing any sleep over it as I don't want an EV anyway.
If I could prize my wife out of her mk7 Fiesta, we'd get a small EV but she loves her ULEZ compliant, tiny ICE Ford so not a chance 🙂

[XAlp]

@JD6 - yes tricky to find a “bargain” B3, esp. touring.
Just musing on the import - pretty rare to do I guess.

[Allworth]

Originally Posted by TodmordenLad

I'm in the same boat, sort of. My regular long trip is 330 miles each way, with no way of charging on arrival.
I'm not losing any sleep over it as I don't want an EV anyway.
If I could prize my wife out of her mk7 Fiesta, we'd get a small EV but she loves her ULEZ compliant, tiny ICE Ford so not a chance ��

You'll be surprised how many charge points are installed across the UK already, some of them are very fast, and the network is expanding. Unfortunately the cost at anything but home charge points is much higher, average is something around 80p per kwh, which is 9 times more than a night tariff.
Finish off your cars, get EV next if you can.

[Wills2]

My friend has just got a couple of M340 MHT tourings in, and i and a d, 2019 on 50k each paid around £25k each, I think for that money I'd take one of those over a Polestar or Model3 etc...

[AlwynMike]

Originally Posted by Wills2

My friend has just got a couple of M340 MHT tourings in, and i and a d, 2019 on 50k each paid around £25k each, I think for that money I'd take one of those over a Polestar or Model3 etc...

I would have thought that 2019 would be far too early for an MHT??
2019 would be the first of the M340 Tourings.

[Wills2]

Originally Posted by AlwynMike

I would have thought that 2019 would be far too early for an MHT??
2019 would be the first of the M340 Tourings.

They're 21 registered not sure why I typed 19

[E60525d]

Originally Posted by Wills2

My friend has just got a couple of M340 MHT tourings in, and i and a d, 2019 on 50k each paid around £25k each, I think for that money I'd take one of those over a Polestar or Model3 etc...

£25k does sound very cheap unless there high mileage? Decent ones are close to £30k.

[Wills2]

Originally Posted by E60525d

£25k does sound very cheap unless there high mileage? Decent ones are close to £30k.

He's a car dealer, mileage was in the post you quoted so not mega miles really.

[Danj94]

So I have a real dilemma.

In December 2022 I bought my 440i a 69 plate with 25k miles for £28k. first years insurance was a touch over £600.

Now my insurance renewal is coming up and the cheapest deal I can find so far is £1150. Not just that but I've also paid £550 tax for the year meaning that on the road cost without driving a mile this year is £1700. Checking its value if I was lucky in a private sale I could see £23k now with the car at 37k miles.

So its lost £5k in just over a year, its cost me the best part of £3k in tax and insurance for 2 years of motoring making £8k cost in 2 years.. and that might even be generous.

Now if I look at a Polestar 2 2021 plate 400hp with some options £25k to buy, £0 tax (for now) and insurance for the year is £625. even if the car lost 10% of its value over 2 years I'd still be at a loss of £5k.

Now running costs... I spend £50 a week on petrol in the 440i to get about 180 miles in the BMW... the Polestar 78kW battery charging at 8.8p/kW on an electric car friendly tariff would mean £7 for a charge which would see a realistic return of 240 miles from a full charge would mean the cost for 180 miles being circa £5.25 meaning a saving of £45 a week on fuel translating to something like £4500 saving on petrol over 2 years.

So can someone tell me what I'm missing and why I wouldn't make the switch. I am genuinely curious to know if I have missed anything.

[Allworth]

Originally Posted by Danj94

So I have a real dilemma.

In December 2022 I bought my 440i a 69 plate with 25k miles for £28k. first years insurance was a touch over £600.

Now my insurance renewal is coming up and the cheapest deal I can find so far is £1150. Not just that but I've also paid £550 tax for the year meaning that on the road cost without driving a mile this year is £1700. Checking its value if I was lucky in a private sale I could see £23k now with the car at 37k miles.

So its lost £5k in just over a year, its cost me the best part of £3k in tax and insurance for 2 years of motoring making £8k cost in 2 years.. and that might even be generous.

Now if I look at a Polestar 2 2021 plate 400hp with some options £25k to buy, £0 tax (for now) and insurance for the year is £625. even if the car lost 10% of its value over 2 years I'd still be at a loss of £5k.

Now running costs... I spend £50 a week on petrol in the 440i to get about 180 miles in the BMW... the Polestar 78kW battery charging at 8.8p/kW on an electric car friendly tariff would mean £7 for a charge which would see a realistic return of 240 miles from a full charge would mean the cost for 180 miles being circa £5.25 meaning a saving of £45 a week on fuel translating to something like £4500 saving on petrol over 2 years.

So can someone tell me what I'm missing and why I wouldn't make the switch. I am genuinely curious to know if I have missed anything.

As others pointed, there is almost no servicing for EV.

[KRS_SN]

Originally Posted by Danj94

So I have a real dilemma.

In December 2022 I bought my 440i a 69 plate with 25k miles for £28k. first years insurance was a touch over £600.

Now my insurance renewal is coming up and the cheapest deal I can find so far is £1150. Not just that but I've also paid £550 tax for the year meaning that on the road cost without driving a mile this year is £1700. Checking its value if I was lucky in a private sale I could see £23k now with the car at 37k miles.

So its lost £5k in just over a year, its cost me the best part of £3k in tax and insurance for 2 years of motoring making £8k cost in 2 years.. and that might even be generous.

Now if I look at a Polestar 2 2021 plate 400hp with some options £25k to buy, £0 tax (for now) and insurance for the year is £625. even if the car lost 10% of its value over 2 years I'd still be at a loss of £5k.

Now running costs... I spend £50 a week on petrol in the 440i to get about 180 miles in the BMW... the Polestar 78kW battery charging at 8.8p/kW on an electric car friendly tariff would mean £7 for a charge which would see a realistic return of 240 miles from a full charge would mean the cost for 180 miles being circa £5.25 meaning a saving of £45 a week on fuel translating to something like £4500 saving on petrol over 2 years.

So can someone tell me what I'm missing and why I wouldn't make the switch. I am genuinely curious to know if I have missed anything.

The EV math is an ever changing world. If you're thinking you'll save money buying an EV there is a chance that assumption may turn out to be a miscalculation.

[E60525d]

Originally Posted by KRS_SN

The EV math is an ever changing world. If you're thinking you'll save money buying an EV there is a chance that assumption may turn out to be a miscalculation.

Yes agree. The biggest cost to EV motoring is the depreciation right now which is one of many reasons I would rather have one as a lease/company car so you don't get a nasty shock when you return it.

[E60525d]

Originally Posted by Danj94

So I have a real dilemma.

In December 2022 I bought my 440i a 69 plate with 25k miles for £28k. first years insurance was a touch over £600.

Now my insurance renewal is coming up and the cheapest deal I can find so far is £1150. Not just that but I've also paid £550 tax for the year meaning that on the road cost without driving a mile this year is £1700. Checking its value if I was lucky in a private sale I could see £23k now with the car at 37k miles.

So its lost £5k in just over a year, its cost me the best part of £3k in tax and insurance for 2 years of motoring making £8k cost in 2 years.. and that might even be generous.

Now if I look at a Polestar 2 2021 plate 400hp with some options £25k to buy, £0 tax (for now) and insurance for the year is £625. even if the car lost 10% of its value over 2 years I'd still be at a loss of £5k.

Now running costs... I spend £50 a week on petrol in the 440i to get about 180 miles in the BMW... the Polestar 78kW battery charging at 8.8p/kW on an electric car friendly tariff would mean £7 for a charge which would see a realistic return of 240 miles from a full charge would mean the cost for 180 miles being circa £5.25 meaning a saving of £45 a week on fuel translating to something like £4500 saving on petrol over 2 years.

So can someone tell me what I'm missing and why I wouldn't make the switch. I am genuinely curious to know if I have missed anything.

The biggest assumption you have made is the depreciation on the Polestar. The way things are going, I would say you would loose more than £5k on it in the next 2 years.

[Pentland]

Originally Posted by Allworth

As others pointed, there is almost no servicing for EV.

You mean EVs don’t have oil/filter changes or spark plugs to change. Wow. Saves less than £500 over 5 years.

[KRS_SN]

Originally Posted by Pentland

You mean EVs don’t have oil/filter changes or spark plugs to change. Wow. Saves less than £500 over 5 years.

Re BMW EV I'd say closer to 3k savings over a 5 year period when compared to equivalent BMW ICE assuming main dealer service and brake changes etc if the EV has a service pack

[Danj94]

Originally Posted by E60525d

The biggest assumption you have made is the depreciation on the Polestar. The way things are going, I would say you would loose more than £5k on it in the next 2 years.

Possibly but is it really going to be much more then the BM?

The BMW M4 in 2020 started at 67k... 4 years later you can pick one up for £34k thats a 49% depreciation

The Polestar performance model started at 49.5k and 4 years later you can pick one up for £24k thats about 52% depreciation.

Not a huge difference and that BMW would of been subject to £550 tax per year for each of those 4 years ...

I am just trying to find means to justify paying my £1200 insurance bill and stay in a petrol beast I love for reasons other then just loving it.

[un1eash]

Originally Posted by Danj94

Possibly but is it really going to be much more then the BM?

The BMW M4 in 2020 started at 67k... 4 years later you can pick one up for £34k thats a 49% depreciation

The Polestar performance model started at 49.5k and 4 years later you can pick one up for £24k thats about 52% depreciation.

Not a huge difference and that BMW would of been subject to £550 tax per year for each of those 4 years ...

I am just trying to find means to justify paying my £1200 insurance bill and stay in a petrol beast I love for reasons other then just loving it.

Assuming your talking F series M4 the last run of cars were heavily discounted before the new model was released, my friend got £19k of list price on his M4 Competition back in 2020.

[JR1664]

Originally Posted by Danj94

So I have a real dilemma.

In December 2022 I bought my 440i a 69 plate with 25k miles for £28k. first years insurance was a touch over £600.

Now my insurance renewal is coming up and the cheapest deal I can find so far is £1150. Not just that but I've also paid £550 tax for the year meaning that on the road cost without driving a mile this year is £1700. Checking its value if I was lucky in a private sale I could see £23k now with the car at 37k miles.

So its lost £5k in just over a year, its cost me the best part of £3k in tax and insurance for 2 years of motoring making £8k cost in 2 years.. and that might even be generous.

Now if I look at a Polestar 2 2021 plate 400hp with some options £25k to buy, £0 tax (for now) and insurance for the year is £625. even if the car lost 10% of its value over 2 years I'd still be at a loss of £5k.

Now running costs... I spend £50 a week on petrol in the 440i to get about 180 miles in the BMW... the Polestar 78kW battery charging at 8.8p/kW on an electric car friendly tariff would mean £7 for a charge which would see a realistic return of 240 miles from a full charge would mean the cost for 180 miles being circa £5.25 meaning a saving of £45 a week on fuel translating to something like £4500 saving on petrol over 2 years.

So can someone tell me what I'm missing and why I wouldn't make the switch. I am genuinely curious to know if I have missed anything.

You bought when prices were nuts so that skews the bigger picture in relation to your depreciation figures. For example my 18 plate 340i shadow was new pre reg for under £30k . You'll never recover from that hit unless you keep it long term.

Also your luxury tax will stop next year. Have you done some serious work on that insurance quote, mine went up £50 to £350 after being quoted £500. Aviva are making a big push.

Every decent EV I've looked at is more expensive insurance wise than the 340i by a country mile.

I'm tempted to change and use the equity in the 340i but I know if I step on the EV bandwagon as a cash buyer the depreciation will dwarf any VED or servicing costs on the Bimmer.

[The Shark]

Originally Posted by Danj94

So I have a real dilemma.

In December 2022 I bought my 440i a 69 plate with 25k miles for £28k. first years insurance was a touch over £600.

Now my insurance renewal is coming up and the cheapest deal I can find so far is £1150. Not just that but I've also paid £550 tax for the year meaning that on the road cost without driving a mile this year is £1700. Checking its value if I was lucky in a private sale I could see £23k now with the car at 37k miles.

So its lost £5k in just over a year, its cost me the best part of £3k in tax and insurance for 2 years of motoring making £8k cost in 2 years.. and that might even be generous.

Now if I look at a Polestar 2 2021 plate 400hp with some options £25k to buy, £0 tax (for now) and insurance for the year is £625. even if the car lost 10% of its value over 2 years I'd still be at a loss of £5k.

Now running costs... I spend £50 a week on petrol in the 440i to get about 180 miles in the BMW... the Polestar 78kW battery charging at 8.8p/kW on an electric car friendly tariff would mean £7 for a charge which would see a realistic return of 240 miles from a full charge would mean the cost for 180 miles being circa £5.25 meaning a saving of £45 a week on fuel translating to something like £4500 saving on petrol over 2 years.

So can someone tell me what I'm missing and why I wouldn't make the switch. I am genuinely curious to know if I have missed anything.

I made all the same calculations as you have, when I added up all my costs monthly, fuel/servicing/extended warranty/VED it needed new discs/pads at the time also I was amazed how much the car was actually costing me per mile.

I took advantage of that EV depreciation bought an EV and the car is being paid for now with what I was paying monthly for my old one. Now costing £5.62 for 280 (real world) miles charging from home so £230 in fuel a month is now £25. It doesn’t need serviced, a pollen filter for cabin is £13 and they post it out and link vid in app to show you how to change it. No VED, insurance went up from £410 to £600 (but it is ins gp50). Depreciation is all about when you buy, I let someone else take the big hit and factored it in.

I genuinely won’t go back now and look forward to the technology advances that are coming with EV even more. Quiet, relaxing, stupidly fast (3.1s) low CoG handles really well, 4WD.

Oh and yesterday Octopus energy(Agile) I charged the car for free I used 25kw of electricity and it cost me nothing but the standing charge (44p)

[Pentland]

Originally Posted by KRS_SN

Re BMW EV I'd say closer to 3k savings over a 5 year period when compared to equivalent BMW ICE assuming main dealer service and brake changes etc if the EV has a service pack

Can you put some figures around that?
I’ve never spent £3k on servicing in 5 years so I don’t understand how you can save that.