Are all Taycan owners buying through a company?
Discussion
Yep, my Porsche dealership said the same and that was the primary buying reason for me.
Not just Porsche either; the BMW dealer next door said almost all of the sales guys had left because the vast majority of new business was the business lease market (personal sales down, corporate sales/lease up).
That said, my Taycan has been the best daily I’ve ever had but probably would never have even considered if not for huge tax breaks to both myself and my company.
Not just Porsche either; the BMW dealer next door said almost all of the sales guys had left because the vast majority of new business was the business lease market (personal sales down, corporate sales/lease up).
That said, my Taycan has been the best daily I’ve ever had but probably would never have even considered if not for huge tax breaks to both myself and my company.
It was nice to get the 1st year WDA, but on sale of the car this will be treated as a profit and so the balance will be payable. My plan would be to take it into private ownership in time and when I can get a low enough WDA quote.
The WDA is just one of the perks and so I would consider a 2nd hand purchase. In fact, I did consider a turbo S recently, which looked fantastic in Neptune blue. This colour wasn’t available when I purchased mine.
Porsche new prices have shot up and so that does make 2nd a bit more appealing, compared to the recent years.
The WDA is just one of the perks and so I would consider a 2nd hand purchase. In fact, I did consider a turbo S recently, which looked fantastic in Neptune blue. This colour wasn’t available when I purchased mine.
Porsche new prices have shot up and so that does make 2nd a bit more appealing, compared to the recent years.
Murph7355 said:
Which is part of the reason it will be interesting to see what happens with used values...
We bought one one of the first ones privately 2 1/2 years ago. Dealer had not sold another privately prior to that. The bids on it to trade in are truly awful, even with sub-20k miles on the clock and by the time it goes back we’ll be lucky if we see £5k above the GFMV.
We’re not replacing it with another and frankly I’d be surprised, especially with finance rates increasing, if many other private buyers did when their terms are up.
Arguably it does make them a bargain second hand purchase if dealers were to charge reasonable margins, but the number on the forecourts suggest few are willing to bite at the prices being asked.
Well over 100 brand new Taycans currently showing as available on the Porsche Approved used site - and I’d assume some dealers are not listing everything they have.
It would appear the market for this category of vehicle in the UK is close to saturation point. Will be a real struggle to sell in the current climate even with a substantial discount I’d have thought.
It would appear the market for this category of vehicle in the UK is close to saturation point. Will be a real struggle to sell in the current climate even with a substantial discount I’d have thought.
Buying a Taycan through a business makes more sense than buying privately Mainly for the BIK rate.
As an example, my wife's boss has just moved from a Jag F Pace to a Model Y and he's gone from paying almost £10K a year BIK to around £1000. So for those who are fortunate enough to have a Taycan on their company car list it's a bit of a no brainer. It's a Porsche, looks good, you can get the family and the dog in it and it's cheap to run compared to an ICE car.
Personally i think the Macan EV will sell like hot cakes.
As an example, my wife's boss has just moved from a Jag F Pace to a Model Y and he's gone from paying almost £10K a year BIK to around £1000. So for those who are fortunate enough to have a Taycan on their company car list it's a bit of a no brainer. It's a Porsche, looks good, you can get the family and the dog in it and it's cheap to run compared to an ICE car.
Personally i think the Macan EV will sell like hot cakes.
Greenmantle said:
Just wondering if a sizeable number of Taycan ownership is done via company purchase where BIK is low and 100% depreciation in the first year. Not looking at a Taycan for myself but a Macan EV might be on the cards.
It makes sense if you're a contractor and pay yourself through a company - the big incentive being the 100% capital allowance. You can save a serious amount of tax - it helps balances the depreciation.NDA said:
It makes sense if you're a contractor and pay yourself through a company - the big incentive being the 100% capital allowance. You can save a serious amount of tax - it helps balances the depreciation.
As long as you don't forget that you only ultimately save the corp tax on the difference between purchase and sale price....Though with the amount up for sale used approved, I suspect prices will have to soften when the cost of living issues really bite.
DMC2 said:
Greenmantle said:
scrounger73 said:
Personally i think the Macan EV will sell like hot cakes.
That is what I am afraid of!The Taycan is a very good drive, so I’m guessing the financials. I doubt an electric SUV would better it.
Maybe a lot have been bought as a 3 year proposition and we’re getting to the point where people hand them back and buy another EV. This would offset the fact that corporation tax would be payable on the value of the car on disposal.
Maybe a lot have been bought as a 3 year proposition and we’re getting to the point where people hand them back and buy another EV. This would offset the fact that corporation tax would be payable on the value of the car on disposal.
Greenmantle said:
Is this due to an issue with the product or an issue with the financials?
It's a combination. A lot of owners have had countless technical issues. I got rid of mine after having no heater for 2 months, constant dashboard illuminations and braking issues.But the whole EV GT car thing is flawed. The Taycan is best as a GT car, but trying to run an EV for long distance travel is a joke. I did one 400 mile round trip and vowed never to return to EV as the charging infrastructure is so bad.
DMC2 said:
Greenmantle said:
Is this due to an issue with the product or an issue with the financials?
It's a combination. A lot of owners have had countless technical issues. I got rid of mine after having no heater for 2 months, constant dashboard illuminations and braking issues.But the whole EV GT car thing is flawed. The Taycan is best as a GT car, but trying to run an EV for long distance travel is a joke. I did one 400 mile round trip and vowed never to return to EV as the charging infrastructure is so bad.
The most recalled car we've ever owned;
The most expensive to run from a depreciation standpoint (beating even Astons and Bentleys);
The only one of our cars to leave us stranded/end up on a breakdown truck for anything other than a puncture in the past 5 years;
MrsLT also refused to use it for long distances due to charging concerns.
Yet, in spite of all the above she still regards it as the best car she'd ever owned.
We PCP'd it in order to limit the downside risk of buying an EV. Increased finance rates make that much less attractive now, so there isn't another one on order to replace it. I suspect even people leasing may do similar as the interest rates will impact lease costs.
An electric Cayenne (or possibly Macan) might have kept her interest in Porsche/EV's if they'd been available (and ideally able to tow a small horse trailer) but she's now decided to go back to another brand until child transport needs are such that she can have a 911.
I had a Taycan through my company.
No issues with car but got fed up with with limited range and a few times getting caught out trying to charge on longer trips.
Sold it last year for a base Cayenne I bought personally and I don’t miss the Taycan apart from the instant torque from standstill.
The new Cayenne E Hybrid has increased electric range so gets 8% BIK which is still very attractive to me as a company owner so I’ll be switching to that car next. I can imagine many Taycan company owners will do the same and my dealer has already taken several orders since launch.
No issues with car but got fed up with with limited range and a few times getting caught out trying to charge on longer trips.
Sold it last year for a base Cayenne I bought personally and I don’t miss the Taycan apart from the instant torque from standstill.
The new Cayenne E Hybrid has increased electric range so gets 8% BIK which is still very attractive to me as a company owner so I’ll be switching to that car next. I can imagine many Taycan company owners will do the same and my dealer has already taken several orders since launch.
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