Please Help Taycan/M3 Dilemma

[Gt3TL]

Im sorry if this topic has been covered before but Im struggling making a decision and need to make the call next week...

Im am basing the below on locking in a 4s Cross 2024 *new for 3 years or carry on running my M3 Tourer.

All the below are based over 3 years....

M3
3 years payments £30564
Tax £1800
Insurance £3000.00
Service £1500
Real World Fuel Expense £10500

Total £47354
Plus personal tax to draw the above circa £15000

Total £62354.00
Minus Fuel Claim HMRC £25650
Nett 3 year Cost £36704

If hand M3 back today I will also have 20k equity to extract from the deal however if I let it run the term I wont have that.

In 3 years I will be the following better off if the M3 goes..

£47354 based on M3 figures above
I will also be still be able to claim some petrol as I run 3 other petrol cars circa £20k claim
I will also have £20k equity from M3
Total in pocket after 3y £87354

Now the Taycan Deal......based on 3 years

Gross Cost 90k for years PCP
Minus 25% Corp Tax
Nett to Company £67500
BIK to me £2340.00
Car tax *soon to come in £1800

So recap, load the company with circa £70k worth of costs and for me to nett circa £87k on an electric car I don’t really want! But are the numbers just to good or am I missing something....really want to justify keeping the M3 other than I prefer it...

TIA

[Murph7355]

Have you tested a Taycan?

If not, do so. If you prefer the M3, keep it. Life's too short

(Your accountant will be best placed to tell you which is the better deal. Not sure of the logic of counting £20k in fuel claim on other cars onto the M3 line...but I can't imagine running an EV through your company wouldn't be a lot cheaper than running your M3).

[ninepoint2]

Gt3TL said:

So recap, load the company with circa £70k worth of costs and for me to nett circa £87k on an electric car I don’t really want! But are the numbers just to good or am I missing something....really want to justify keeping the M3 other than I prefer it...

TIA

looks to me like you have answered your own question, Taycans are struggling to sell, EVs are not as desirable as advertised, and they are worth about as much as a Trabant after two days, any sensible person with man maths eyes will say keep the M3

[KittyLitter]

Gt3TL said:

So recap, an electric car I don’t really want!

the answer is very clear.

[DMZ]

How can the PCP cost on the Taycan be £90k? That’s outrageous surely? What’s it worth after three years, a packet of crisps?

I can’t think of a situation where I would pick a Taycan over an M3 Touring but those numbers surely kill the Taycan stone dead anyhow.

[Grantstown]

Looks like you can get a good discount on an M3, so this equity carrot is probably not as valuable as you think. Seems also like there are lot of used ones available for around 60K. The Taycan will be a similar type of driving experience, but don’t ever buy unless you really want the car.

A good way would be to run the Taycan for a couple of years and save up all the personal funds that you’re no longer paying BMW finance. You’ll then be able to buy a barely used 3 year old M3 for 40K cash (or even better another Porsche!)

[Murph7355]

ninepoint2 said:

looks to me like you have answered your own question, Taycans are struggling to sell, EVs are not as desirable as advertised, and they are worth about as much as a Trabant after two days, any sensible person with man maths eyes will say keep the M3

Of course they are

I wouldn't touch an M3 Touring or an RS4 or the latest Merc equivalent over a Taycan GTS ST. Double so if it saved the sort of money being noted here.

I guess it's great that we're all different. And it's a shame BMW were a decade late in that format of car.

[Discombobulate]

Murph7355 said:

Of course they are

I wouldn't touch an M3 Touring or an RS4 or the latest Merc equivalent over a Taycan GTS ST. Double so if it saved the sort of money being noted here.

I guess it's great that we're all different. And it's a shame BMW were a decade late in that format of car.

I write this an an ex C7 RS6 and B9 RS4 owner, but having driven a Taycan 4S ST (not tried GTS yet) and the M3 Touring the Taycan is the better place to be as a daily, and pretty well from every other aspect too - unless you regularly do more than 250 miles a day. But 90K for 3 years? Wow!
I'd be buying a used / nearly new gen 2 GTS. You can get 20k off a new one, and likely a lot more off a low mileage "demo". Still works on the company, but no 100% offset (some of which is clawed back on sale anyway).

[DMC2]

I had a Taycan. Sold it. Currently waiting on delivery of an M3T. And I definitely would never go back to electric

[Purple Man]

I have had both of those cars, but tried a 4E Hybrid Panamera six months ago and bought one of those, it far better in every way.
Sporty drive, like a big 911, 45 miles of battery power, so can charge it up at work and get home and back the next morning!
But the drive is the best bit about it, sports exhaust is a must.

[Murph7355]

As noted, it's good we're all different.

DMC2 said:

I had a Taycan. Sold it. Currently waiting on delivery of an M3T. And I definitely would never go back to electric

Purple Man said:

I have had both of those cars, but tried a 4E Hybrid Panamera six months ago and bought one of those, it far better in every way.
Sporty drive, like a big 911, 45 miles of battery power, so can charge it up at work and get home and back the next morning!
But the drive is the best bit about it, sports exhaust is a must.

I had a Panamera 4E Hybrid as a loaner. It felt like a smoking lounge. A bit like a fast Jag, and certainly nothing like a 911.

The Taycan prised me out of my beloved B7 RS4, and I sold my 997 C4S as it was simply superfluous.

I don't see me buying another ICE car now (unless a Miura or 250GT SWB come along). The Taycan shows just how good EVs can be. ICE makers have spent decades trying to find ways to get instant power, minimise power delivery interruption etc etc. The EV solves for that in one sledgehammer blow.

Even range is a non-issue with charging capabilities and most people's daily usage.

Jumping back into an ICE car feels like jumping on a horse!

As noted, we're all different. But the future's bright IMO.

[Discombobulate]

Purple Man said:

I have had both of those cars, but tried a 4E Hybrid Panamera six months ago and bought one of those, it far better in every way.
Sporty drive, like a big 911, 45 miles of battery power, so can charge it up at work and get home and back the next morning!
But the drive is the best bit about it, sports exhaust is a must.

As above each to their own. I tried the hybrid Panamera (ST version) as I thought it might be the best of both worlds. But it felt a lot slower and heavier than the Taycan. I know they are similar weights so perhaps it's the lower CoG that gives improved handling in the Taycan. But it was a 971 rather than your latest 976 version so perhaps I missed out. Then again it I was comparing it to a gen 1 Taycan so apples with apples.

[Gt3TL]

Thanks for all the replies...really appreciated...

In reply to a couple of the questions/queriers, I will still be able to claim petrol fuel over the 3 years as I run other petrol cars so can make a claim against them if I decide to use them for the odd work trip...

I don't really care about the depreciation of the Taycan as my company will be picking up the £2400 per month PCP cost and after 3y I will just hand it back, yes there will be a £90k upfront cost but after tax which can be deducted this nett's to £67,500......this is just a way not to pay for a personal car for 3 years saving circa £80k by being creative with the above

And in answer to car enjoyment, this is just a daily to do my job....Im in a lucky position to have a 991.2GT3 Manual and 992GT3RS...

I guess the question is can I live with an electric car as a daily!.....because I will be absolutely buried in it!

[Murph7355]

Gt3TL said:

...

I guess the question is can I live with an electric car as a daily!.....because I will be absolutely buried in it!

I use mine every day.

What mileage do you typically do daily?

PCP costs seem a lot....

[Gt3TL]

Murph7355 said:

I use mine every day.

What mileage do you typically do daily?

PCP costs seem a lot....

Thanks...

Milage, anything between 50/200 a day, with a possible couple of trips to the south of France with the family, I do have a home charger which will help...

Yes PCP is massive, but Ive done a no money in deal with 15k milage a year on a £115k car...just don’t see the point of putting a deposit in, I am treating it like a rent hand me back deal....

Thanks

[Discombobulate]

Gt3TL said:

Thanks...

Milage, anything between 50/200 a day, with a possible couple of trips to the south of France with the family, I do have a home charger which will help...

Yes PCP is massive, but Ive done a no money in deal with 15k milage a year on a £115k car...just don’t see the point of putting a deposit in, I am treating it like a rent hand me back deal....

Thanks

They make incredible daily drivers / commuting cars. So effortless and refined. And you have some nice ICE for the weekend

[Porsche-worm]

Whatever the question, A Taycan is never the answer.

[Purple Man]

Everyone is different, as pointed out.
For me 1st Panamera, fast, practical and luxurious.
2nd BMW M3, close to the Panamera, but not as good as my everyday car, not as luxurious.
3rd Taycan, felt heavy after the M3 and the impracticality of charging it up when I went to London twice, meant an all electric car as my work daily is a none starter.
Panamera felt as good as my Bentley GT at 65% of the price.
You just have to go for a test drive in them all .....

[h0b0]

Porsche-worm said:

Whatever the question, A Taycan is never the answer.

What car did I drive to the opticians I’m sat in?

[ninepoint2]

Porsche-worm said:

Whatever the question, A Taycan is never the answer.

Indeed very true, can't think of anything worse...oh hang on maybe a Tesla, anybody with any sense giving money to Musk and his obscene MAGA affiliates should be sectioned