BIK rate on BEV going up!

[ohmygosh]

I've spent 3 weeks deciding the spec of my new i3 BEV to order it through my company car programme. I was also excited that it would attract 0% BIK which made it around £100 a month cheaper than the REX version. Given it's a second car I don't really need REX.

Have got the full quote today and didn't realise until now that from April, even cars with zero emissions will attract tax on 5% of the value, rising to 7%, then 9% and then 13%.

It's still an extremely cheap car to have as a company car and will cost less than half the cost of leasing from BMW but it's certainly taken the gloss off a bit.

If you are think of ordering one, work being aware of these changes. It also makes the REX look more reasonable.

 

[DJCeeJay]

Yes, that is spot on. I posted about this when I considering the i3 as a company car last year.

http://www.mybmwi3.com/forum/viewtopic.php?f=3&t=1643

Bottom line for me, the car still is good value as a company car - bearing in mind that all other BIK bands increase 2% points every year. So alternative cars (e.g. the highly efficient BMW 320d I currently drive, with 109 g/km CO2) will be still far more expensive all in. And more interesting and more fun to drive !

 

[ohmygosh]

Just a shame that the incentive that was so strong is now deminished. In particular as the P11D cost of the car is actually quite high it means even 5% is frustrating. Anyway, I've placed the order his morning so now super excited about playing with this new toy!

Have a demonstrator coming for a week on 12th March so can have a play with that - I wonder if it will make question any of my spec decisions!

 

[DJCeeJay]

Congrats on your choice. What spec did you end up choosing ? Yes, you might want to change your spec. I know some on the forum did a few times prior to the build ... usually people ended up adding more ...

Yes it's a shame the BIK rates are going up steeply, but I am not complaining. Here is my maths on my current (prior) company car, which had comparable lease rates.
- BMW 320d ED, 109 g/km, £30k list price with options, 19% BIK ('15/'16) = £5,700
- BMW i3 BEV, 0 g/km, £37k list price with options, 5% BIK ('15/'16) = £1,850

Plus you get £5,000 plug in grant (lowering the lease rate). Plus you get cheap fuel. Plus you free home charger.

You might want to swiftly try to get a free home charger installed, as the grants run out by 31st March I believe. I went with Rolec, who were pretty good. Others are available - Chargemaster, British Gas.

 

[ohmygosh]

Thanks! Went for:

Capparis White
Loft Interior
19" style 428
Pro Media
Sun Protection Glass
Park Assist
Rapid Charge - DC

The next bits in line that I left off were HK and LED. The demonstrator has both these things so it may sway me. I just like the idea of it being so cheap, particularly as a second car.

Can't wait!

Ps - just noticed that you get yours arrives in a couple of days and a great spec too. Enjoy!