Nervous buyer

Green&Red

Hey,
Mrs G&R's car is on the verge of packing up and we are looking at our options for a new car (new to us). Something more family orientated.
If we were to buy a diesel/petrol we'd probably be looking at €20k or so.

I'm a contractor and as such have my own company so the option of buying through that. We could get a van but that doesn't address the family car side of things although my current car is an estate so not the end of the world.

The likes of the Kia eNrio or the Hyundai Kona electric are both very appealing. Obviously everyone loves a new car!
Couple of issues though - the BIK on electric cars is for the next two years, my accountant seems to think it could easily be extended - what are peoples thoughts? Not the end of the world if we have to buy it back but would prefer not to
Commuting - we both commute 60km each way each day for work, is that an acceptable commute with no charging at work?

How are dealers with trade ins?

Thanks

ELM327

60k each way is no worries for the kona/niro/soul triplets. You'd probably get 3 days out of a charge, definitely 2 easily all year round.

trade ins are the same as any other car generally, rock up to your kia/hyundai dealer and see what they will give.
You can get indicative HP/PCP quotes online.

I'd suggest not getting a Kona as they are very low spec compared to the others (no adaptive cruise, smaller screen etc) and they are teeeeny inside. If you're contemplating it as a van-lite then the eniro is probably best as its biggest!

I'm not sure about the BIK, to be honest I'd may probably have suggested going for it anyway but with the caveat it may reduce in 2 years time. However if buying as a company car you don't get the 5k SEAI grant so therefore not worth the hassle imo

Green&Red

Thanks for the reply

The grant is reduced to 3,800 as far as I know

The only reason I was considering the Kona or the Niro was because of the warranty, am I right in thinking it’s 5yrs with Hyundai unlimited mileage but 7yrs with Kia but only 150km?

ELM327

Green&Red wrote: »

Thanks for the reply

The grant is reduced to 3,800 as far as I know

The only reason I was considering the Kona or the Niro was because of the warranty, am I right in thinking it’s 5yrs with Hyundai unlimited mileage but 7yrs with Kia but only 150km?

No, it's gone, there is only a grant for private buyers now.


Yes you are correct, Hyundai is 5 years (and 200k I think) whereas kia is 7 years 150k https://www.kia.com/ie/about-kia/7-year-warranty18/

Royale with Cheese

BIK is 0% until 31/12/2022 and the €3800 grant for businesses is now gone.

MizMix

Just bought a Kia e-niro through my business also. My last few cars where hyuandai- went to see the kona but it was too small for my needs (kids, transport stock etc). Then went to see the kia eniro and there was no comparison- much bigger, better spec and nicer finish. It is fab to drive.

Green&Red

MizMix wrote: »

Just bought a Kia e-niro through my business also. My last few cars where hyuandai- went to see the kona but it was too small for my needs (kids, transport stock etc). Then went to see the kia eniro and there was no comparison- much bigger, better spec and nicer finish. It is fab to drive.

If you don’t mind me asking
PCP or finance or cash?

What helped you make that decision?

MizMix

Trade in + 10k deposit + finance over 2 years. car was due a trade in (v expensive last service....clutch would need to be changed soon) and the tax benefits made sense for me/ the business

Green&Red

One last question - was the car you traded in a company car also or a private car? And if it was private car how did that work out?

Cheers!

MizMix

Well it was originally bought as a private car but years back I spoke to my accountant and they ran the depreciation through from recollection (being honest I'm not sure if that was right, I just took their advice on it and was happy to proceed).

I'd have a chat with your accountant

innrain

BIK exemption is for 2022 inclusive at the moment so you can get 3 year of free use. (provided you're going to find one as my understanding is Kona/Niro have a long waiting time)
The ACA is worth looking at as business owner.

The 3800 grant is gone now for business but whatever you pay for the car in the next 3 years is going to be pre-tax. There is no charger grant for business but there is ACA and free electricity for employees. This will allow you to save money to buy it from the company in 3 years if you wish to do so.
The garage will give you a cheque for the private trade in. (at least mine did)
I still see companies paying car allowance to their employees. Getting paid 10K in a year will you get roughly 5k. While if the would pay 10k a year for an electric car in 3 year they pay for a Niro, ACA and depreciation for 3 years works out like an expense from the company tax point of view. The employee is using a brand new car for 3 years, with some perks like free electricity. I don't understand why hesitate?