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Discussion Starter #1
Hi All - anyone had a quote for a lease on the eNiro recently?

Had mine through on Friday and they are asking for approx £400 + VAT (which you can reclaim 50% of), so in effect a £440 lease. This is for 8k miles per year for three years with a 3 month upfront payment. This is also only indicative as no underwriter is willing to guarantee a price for 12 months and is also for the current model as prices for the upgraded MY20 are also not yet available - so will go up from this I imagine. But if you are a 20% tax payer then even with 0% BIK next year, I'm not sure it makes financial sense when you can drive a Golf GTE for under £300 inc VAT.

I knew it would be expensive but this feels really steep for what in effect is a £34k car after the grant. Guess supply and demand is working well but also think a significant amount of this cost is finance companies being nervous about second hand BEV values and consumer perception of battery degradation.
 

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Discussion Starter #3
They have been expensive all along. Most deals I've seen mean you can get a Model 3 for less than an eNiro unless buying outright/personal loan
Yes, Tesla may well come into the frame. But it is a less practical car for my needs and many of the Tesla 3 lease deals I have seen have the P11D value over £40k which is a no go. But at the same time I'd love to drive a Tesla! :)

I will order the eNiro as I have nothing to lose and then see what the lay of the land is in the spring...
 

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I was quoted $5000 down, then $430 a month afterwards. They claimed that left the car with a residual value of $19,000, for a total cost of $39,000.

Obviously this makes no sense when you can just buy the car for $39,000 and then collect $7,500 from the govt. (in USA)
 

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Discussion Starter #6
Heard back from Kia Business Sales today - they are now offering me an official quote at £50 less per month (before VAT), so despite being the new model prices have come down quite a bit. They say this is due to the strong residuals they are seeing. Still same terms as per above and a 3 year contract. I have actually asked for a 48 month quote too which makes it even more affordable on a monthly basis of course.

This is very interesting and suddenly looks cheaper than an M3 SR+ (which it wasn't before). Finally have my 48-hour test drive next week (of the original model) and will make up my mind then. They are also saying best guess is June delivery but I can't have it until August anyway.
 
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Hi all. Just recently ordered an E-Niro from my lease company. I've never liked the idea of 3 year lease deals so I've gone with a company that offers a three month lease. I'm getting an E-Niro with nothing upfront for £550 a month Inc VAT for 15k miles / year pro rata. I ordered it on Tuesday and I'll pick it up in 2-3 weeks. I'm thinking if I can't get on with it (I have a Sportage with them at the moment) I can always swap it for something else in April/May.

The lease company (I'm just a customer) is called Evogo.

Hope this helps
 

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They say this is due to the strong residuals they are seeing. Still same terms as per above and a 3 year contract. I have actually asked for a 48 month quote too which makes it even more affordable on a monthly basis of course.
Would you mind sharing the details of the 48 month quote? Did they let you know the residual value?
 

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Discussion Starter #9
Would you mind sharing the details of the 48 month quote? Did they let you know the residual value?
Afraid they don't give a residual value. They are quoting a P11D value (inc. premium paint and mats for the car) at £38,587. 3 months upfront, 8k miles and £335 per month before VAT but after plug-in grant so effectively £369 per month as you can reclaim half the VAT.
 

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Afraid they don't give a residual value. They are quoting a P11D value (inc. premium paint and mats for the car) at £38,587. 3 months upfront, 8k miles and £335 per month before VAT but after plug-in grant so effectively £369 per month as you can reclaim half the VAT.
Appreciate the data, I presume if buying for fleet volumes, there will be further discounts. Looking at the base price, I'd guess the 4 year residual would be around £12-13k with that mileage. Some of the fleet cars will be racking up 25-30k miles per year. Would the residual on that be around £8k? - a nice option to buy after 4 years, even taking into consideration battery SOH.
 

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WBAC will tell you that a car that is six months old is worth about £28k. New ones listed on Autocar often have an advertised premium ( £39k+). PCPs suggest residuals after 3 years of about £14k. However, supply problems, not just with Kia but with other manufacturers, means supply and demand second hand will probably keep residuals higher than normal in the short term. My best guess is that a value of 50% plus after three years or in the £17k - £20k range. So much will depend on what happens to EV supply in that period, cost of batteries, Government subsidies / grants, and actions by local councils to ban the use of diesel/ petrol cars from city centres etc. A bit like death and taxes the one certainty is that the car will depreciate.
 

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Hi all. Just recently ordered an E-Niro from my lease company. I've never liked the idea of 3 year lease deals so I've gone with a company that offers a three month lease. I'm getting an E-Niro with nothing upfront for £550 a month Inc VAT for 15k miles / year pro rata. I ordered it on Tuesday and I'll pick it up in 2-3 weeks. I'm thinking if I can't get on with it (I have a Sportage with them at the moment) I can always swap it for something else in April/May.

The lease company (I'm just a customer) is called Evogo.

Hope this helps
It is not clear from their website if these cars are new or stock that they keep rotating with customers after returned etc?
Generally what is age/mileage of their vehicles?

Shame they don't have more electric vehicles.
Nissan Leaf on their site has a picture of 2013 model but it says 40kWh battery which I think is only available in 2018 models.
 

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It is not clear from their website if these cars are new or stock that they keep rotating with customers after returned etc?
Generally what is age/mileage of their vehicles?

Shame they don't have more electric vehicles.
Nissan Leaf on their site has a picture of 2013 model but it says 40kWh battery which I think is only available in 2018 models.
Hi Roy. I started using them in July last year. So far I've had a Sportage (brand new) and just ordered the E-Niro (again, brand new). They say you can keep a vehicle for upto 12 months, renewing every three months or just walking away if you prefer. I'd say check with them, but I think all cars are new. The choice is limited and some of the photos are incorrect but the service I've had had been great and is a really good way to try out a car if you're not ready to commit to three years on a lease.

I've asked about them getting more EVs and they say they are looking into it. I've gone EV this time to show them there is interest and demand.
 

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Discussion Starter #14
Appreciate the data, I presume if buying for fleet volumes, there will be further discounts. Looking at the base price, I'd guess the 4 year residual would be around £12-13k with that mileage. Some of the fleet cars will be racking up 25-30k miles per year. Would the residual on that be around £8k? - a nice option to buy after 4 years, even taking into consideration battery SOH.
Interesting thought actually and may well consider it if that is the residual value! And no fleet discounts for me unfortunately - self-employed and run a ltd company with two people including me ?
 

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Interesting thought actually and may well consider it if that is the residual value! And no fleet discounts for me unfortunately - self-employed and run a ltd company with two people including me ?
I doubt anyone will get true residual value, but the market in 4 years will be completely different to 2020. Have you evaluated PCP or a simple cash/loan?
 

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Discussion Starter #16
Have you evaluated PCP or a simple cash/loan?
No, not even looked at it to be honest. Once you factor in reclaiming 50% of the VAT, reduction in corporation tax (as the car is a cost to the business), the fact that all charging away from home can be paid for by the company (electricity not considered a taxable benefit yet) and the fact that there is 0% BIK on electric cars it is a no brainier for me. Business leases also generally have quite small deposits - something that is pretty attractive to me.
 

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Can all charging be paid for by the company even if taking a journey for personal purposes??
 

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Discussion Starter #18
Can all charging be paid for by the company even if taking a journey for personal purposes??
I will double check with my accountant if things have changed but certainly when I first got the GTE I was advised that having say a Polar card is similar to a company providing you with a fuel card for petrol stations. The difference being you have to pay BIK on the the fuel card whilst electricity not yet officially considered a ‘fuel’ for tax purposes. Can’t imagine this will last long (or even still be the case potentially!). Not really been relevant with my GTE, so may be out of date info
 

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Discussion Starter #19
Can all charging be paid for by the company even if taking a journey for personal purposes??
Found this on the ATT site so still seems to be true. Whilst many will have free charging at work I guess few companies have decided to provide things like Polar and New Motion cards on the company, but as I'm self-employed I' will choose to do so!

Tax law does not treat electricity as a fuel. As a result, for Pure-electric cars:
  • The fuel benefit charge in s149 ITEPA 2003 does not apply to any electricity supplied by an employer - no benefit in kind arises if an employer pays to charge a Pure-electric company car (e.g. the car is charged at work), regardless of the level of private mileage.
  • Advisory Fuel Rates (AFRs)2 cannot be used to reimburse employees for the cost of electricity paid for personally but used for business travel.
It should be noted that the above points only apply to Pure-electric cars.

(Electric car taxation for employees and businesses | The Association of Taxation Technicians)
 
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