BIK on EVs.

More detail here on irish times -> https://www.irishtimes.com/business/transport-and-tourism/call-to-cap-tax-relief-on-electric-vehicles-at-40-000-1.4675926

Promising alright. Regardless of cost, if the govt are serious about EV takeup then they have to promote purchases of them now so there are 2nd hand ones for others to purchase in 3 to 5 years time. They are expensive for a huge proportion of the population but people are genuinely interested, I have just gotten the go ahead to get one through the company. Problem is availabilty!

Had a look at ID3 and ID4 on Tuesday in local dealership and taking them for a spin tomorrow afternoon. Only problem I see is its a step down in interior quality from my current A6 (ID4 was nice, ID3 was average)so also going to look at Audi Q4 etron, but getting expensive there and will have to certainly pay a small amount of BIK on one of those. But I will be pocketing the proceeds of my A6 (15/16K) so dont mind too much. Might be a bit expensive for a 40 model with long range but the 35 would suit me too. Work charger and home charger available. I would exceed the range of the car about twice a month on work trips from Dublin to Limerick and to Cork.

Anything else I should be looking at? Realistically I would love an Audi/BMW Saloon but not available yet really. BMW are gone ugly too in my opinion, the ix series are horrible. Not a big fan of Merc. The Kia and Hyundai new stuff looks interesting.

Yes, the Kia and Hyundai stuff would never have been on my radar before but they certainly are now. Bit of a badge snob! But I am fairly sure I will get more for my money with one of those. However, they are far from cheap, like everything else these days. Huge strides made from those 2 brands.

A neighbour has the ioniq 5. It's certainly very striking and different looking. I like it.

I'll report back on various threads here as I see and test them. I presume I amn't in with a hope of getting any sort of discount from any of them??

Took the id3 and id4 for a spin today. Liked them both, thought the id3 was a bit nicer to drive but the id4 nicer inside. That said, coming from a well specced A6 the interiors of both ID's was a huuuuuge step down. I know the reasons, sustainability, weight saving etc but for 45 to 50k cars I just don't think I could spend it. Lots of wind noise in both over 100kmph too, and not windy day today. The ICE VWs in the dealerships had lovely interiors.

Went over to audi dealership then to look at q4 etron and there was a queue to drive them so I just had a look at it. I imagine it drives similar to the ID's anyway, which is no bad thing.

Much nicer than the ID cars, obviously more money too, but still not up to A6 standards. Or, just like VW, the standards of some of the other Audis in there. A7 there was much nicer than the etron GT inside too despite being 30k cheaper. Bigger original etron was nice but not on par with similarly priced ICE cars.

Bit of a letdown altogether to be honest. I'll still go EV, especially if budget next month extends BIK. There's definitely a trade off going on with interior design and quality and EV drive train though at any given price point.

Yep I like the ioniq5. Tesla probably still the best ev around but I know I'll hate the interior. Ev6 from Kia looks promising too. There will be class stuff in next while too as they become mainstream.

Sorry for my dumbness here, how would the annual reduction to 40k, 30k, 20k etc effect BIK paid if there's zero % BIK to pay?

If your new car price is over the new value you'll be paying on the difference, like now it's only 0% on the first 50k.

Car is 60k you pay BIK on 10k, new figure is 30k you pay BIK on 30k.

Ok thanks. But is it on the first year's valuation only? i.e. if i get a car and it's 50k OMV in 2022 (so no BIK) do they reduce MY exposure in 2023 to 40k (thus I pay whatever the going rate on 10k) or will it just apply to new entrants each year and my 50k OMV car from 2022 stays at 0%?

Anyone thinking of opting out of your company's company car?

Need to do the maths, but it looks feasible now as EVs get the same mileage allowance as ICE cars. Depends on the annual allowance given to you by the company.

I'd get an allowance of €8500 a year (taxable) and then mileage allowance (civil service rates). Reckon I'd be down to 30,000 kms a year now but that would still allow me pay €50k on an EV and have money over every month, even when service, charging, insurance and all are accounted for

Just Google "BIK calculator Ireland" and your sorted.

Just be aware that the current arrangement (exemption) is in place until the end of 2022 (next year). What happens after that will most likely be confirmed in the up coming budget this month.

Thanks MM, So if the car is 60K. I pay BIK on the 10K. I expecting low mileage - 8-10k a year.

Anyone know of a BIK calculator. I genuinely don't understand how its calculated or how revenue get their coin.

Cheers

Thanks, be interesting to see what happens Tuesday. The government need to provide a long term commitment. Potential buyers like myself will not invest in an EV if there is uncertainty. Just my take...

Absolutely they do need to incentivise. So do the manufacturers or else they are going to remain niche. Currently they're way overpriced for what they are. I was in vw and audi garages recently looking at id3, id4 and q4 etron and for what they are, they are all overpriced. Wouldn't appeal to many car enthusiasts. Suv tend to be overpriced anyway but electric ones, there are huge corners cut to keep them under a price point.

I don't think the govt will continue to support them though, all concerned about foregone tax revenue today and not forward thinking at all.