EV as a company car next April - when & when to order

[Tiggsy]

At the end of last year I took a Volvo V60 on a private lease that ends next March - specifically so that I could jump into an EV via my own Ltd company in April 2020 to take advantage of the 2% BIK.

At the time I was thinking Tesla X but recently a friend has got the iPace so maybe that now? It needs to be able to lug my mountain bikes on the back on a tow ball and house the (small) dogs and my hobby equipment - so needs to be estate/SUV size (not a Tesla S for example)

So - when do I worry about placing an order for a car I dont need till then? In the past I have always ordered lease cars based on what was in stock for a cheap deal so never had to think ahead!

And....is anything likley to come along between now and then that is better than the iPace? I see there's a new Merc but I have an SLK55 AMG for weekends and never had a jag so it would need to be good! (and fast......it needs to be fast, just for my own amusement)

[RicksAlfas]

If it's a factory order I would say you need to order now, as leadtimes are very long on some cars. Talk to the dealer and tell them when you want it and they will advise you.

[Tiggsy]

And what happens if the BIK rules change in the next 6 months and it becomes a terrible idea? How "tied" in are you to an order like that?

[RicksAlfas]

BIK rules tend to be fixed for a long period in advance. That's why the current year is terrible for PHEVs, because it was instigated long before they became popular. (2013-2020). The BIK rates you see published now are extremely unlikely to alter, however if they did you may lose the deposit you have placed on an order. But if it is in high demand the dealer may look kindly you on.

[Tiggsy]

yes - but the BIK for 2021 is not known - so although next year is good...the second/third year of a lease could be grim and we may not know till an autum budget ??

[RicksAlfas]

Apologies, you are quite right. I wasn't aware they hadn't announced them yet. From various sources:

"For the first time, the UK Government has failed to pre-announce company car BIK rates for at least three years in advance. While BIK rates have been announced for financial years 2019-2020 and 2020-2021, the rates for 2021-2022 are not currently known."

Very helpful!!