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Higher value EVs not eligible for £3,000 PiCG (grant) anymore!
- Thread starter kelvin 660
- Start date
Chipstix
Member
The balloon values are really conservative. One way Tesla could lessen the blow is to reduce the depreciation and hence the cost of PCP. This would of course erode some of the equity building but lower monthly costI tend to agree. I think a lot of potential customers, especially at the M3 SR+ end will now look elsewhere. Myself for one wouldn’t be able to take another £60/£80 increase a month into the finance now. Gutted
There are new HMRC rules on calculation of balloon values ...
If only car manufacturers could "decide" what their depreciation was, I'm sure they'd like that!
I saw the £37,490 price and thought I was so lucky, just went straight to order and only noticed on the order email that the price was £40,490 for an inventory. I’m not sure now what to think, is that a good price now for an inventory car considering it essentially saves £3,000?
Mperkins28
Member
Just checked now on gateway2lease. The same car and details now is just over £80 a month more. I’m afraid that’s me out.
Absolutely gutted.
Absolutely gutted.
The bright side is the per month cost between the P and the LR has narrowed, making the P more affordable in comparison
Llama.
Lurking somewhere up North
Anyone reckon it was the 6000 Made in China Tesla Model 3s unloaded at Southampton and registered in the last two weeks that broke the bank and tipped the government over the edge with this move?
Fact they just raised prices by the full 3k shows they haven’t given this much thought, I wonder once they have crunched all the numbers that the prices don’t adjust down a bit. SR+ looks particularly expensive at this point IMO.
Mperkins28
Member
This is surprising. I would have expected this to carry through to the residual value of the car, at least in part. What term were you looking at and does the monthly rise equate exactly to the £3k price increase?
Llama.
Lurking somewhere up North
Yup the SR+ doesn’t seem worth it now. It’s coming out at only £34 a month cheaper than my LR M3 I took delivery on 2 weeks ago. (PCP £7500 deposit)
Mperkins28
Member
Yes was over 4 years, so basically that increase is the £3000 uplift give or take a few quid.
that will ruin the lease market
that will ruin the lease market
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Chipstix
Member
I did not know that! Currently however HMRC works it out has way way more depreciation than the likely reality - how are HMRC predicting the residuals on EVs in a new market without much historical data?
The OEMs I think would still have to observe market forces because if they set GFV too high then they would have a major issue at the end of the term when everyone hands their car back and they are worth less on the market than they are in stock.
I’m genuinely surprised they just tacked £3k on to both cars.
Thought the LR would go up as there was no incentive for them to keep it below £50k, and there was a big gap between it and the P.
Didn’t think they would increase the price of the SR+ by the full £3k (or at all), simply because there will be people who are stretching themselves to get that one - and presumably Tesla wants those customers?
Demand must still be sky high on these cars that Tesla feels it can do this with impunity.
Thought the LR would go up as there was no incentive for them to keep it below £50k, and there was a big gap between it and the P.
Didn’t think they would increase the price of the SR+ by the full £3k (or at all), simply because there will be people who are stretching themselves to get that one - and presumably Tesla wants those customers?
Demand must still be sky high on these cars that Tesla feels it can do this with impunity.
Where are you seeing that information about the Scottish EV loan?
In many ways that's a bigger issue for folk here than the £3k grant going away.
EDIT: Just found the info on the EST applications site. Will post on the main thread about it.
Surturminn
Member
Not sure either, they had put a “applications must be made by 07-Mar” on it, but that is no longer there, so maybe it was a close out for this fiscal just?
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