Where do I find this unicorn company car?

[Lookingforphev]

Hi, just wondering if anyone had some advice.

The company I work for buys their company cars. My car is due for renewal and the have dropped the budget to 25k.

Its got to be under 25k, under 6 months under 5k miles. Its also has to be hybrid or electric.

At home I have 2 almost adult size kids. Dd is 18 and ds is 11 but 5ft 2in already. Dp is 6ft 4. I currently have the A class that I inherited from my predecessor and there's just not enough leg room.

I have shopped for a new or nearly new car for ages and never shopped for a hybrid or electric. Getting an electric will mean I need to get a point installed at my house which I am not keen about as I want to move in the next year.

Does anyone have any recommendations? Do I need to spend a day going round dealerships?

Thanks

Can you ask for a car allowance instead and then buy your own?

@BritInUS1

Can you ask for a car allowance instead and then buy your own?

A few of us tried this and it was a no, unfortunately.

Feels like they are doing everything the worse way round.

The budget was 30k when my predecessor got this car. Dropped the budget but wants me for find a hybrid or electric?

My 2 peers are happy with small cars as their other halves have larger cars for whole family trips. Dp can't drive due a disability so this will be our main family car.

I think your issue here OP is going to be supply plus an unrealistic budget set by the company for an EV. The microchip shortage in the industry has meant used car prices are artificially high and new cars are not available for up to a year from an order placed today. If the company is concerned about asset valuation I’d do some research on the likely loss of purchasing a used car right now and add in the fact that £25k isn’t a realistic budget for either a used car with under 5k miles or to get the equivalent of an A class even at an auction. Present the evidence and make a request for £30k? Carwow is a good starting point for price comparison etc although some prices refer to the amount you pay for a lease rather than the RRP. The new kid on the block is the Kia EV6 which sounds ideal for your family but the starting price is £40k 😩 Hyundai EVs also have a good rep. Avoid Mitsubishi Hybrids as they are withdrawing from the UK so warranty and maintenance will be an issue. The BMW i3 is a fab car and tons of room inside but alas I think outside of your budget.

Sounds like your company doesn’t understand how company cars work. Buying them is such an outdated strategy. And in todays car market, a really stupid one.

I just looked at SEAT’s, they’re made by VW, so good quality car with the price tag. Their Leon is spacious with a 2nd hand hybrid under £25k AA results

My husband gets an electric car through a salary sacrifice scheme - hire arrangement. Also means it’s has tax benefits as no tax on electric. (It’s something like that anyways ).

Could you bring something like that to them as an alternative?
Buying seems very backwards and not a good investment, particularly for electric atm where market still developing

@Netaporter I did think it would be very difficult in this market. I think an increased budget is required too. Thank you I will start building together my case

@BackInMarch2020PreCovid they purchase the whole fleet for the assets value. But you are right. Its outdated. I was fairly sure they would change given the market. But alas, I was wrong. And yes, they can be very old fashioned in the way they do things.

@RedRobin100 they won't go for anything except buy it and have us pay tax.

In reality the company is giving you and the other staff a pay cut. Your total renumeration benefits from when you started has just dropped by 5k.

If its their asset why are you looking for it instead of been given a list of approved options by HR / the fleet manager?

Is the payment 25k per year which can be used in a finance deal?

As for charging, it unless you are on the road, why not use the charge points they are naturally planning to install at your work?

They've dropped the budget when used car prices are at an all time high? That's not very sensible!

I've just had a quick look, with their requirements and yours, there was only one suitable car - Kia Nero 2 estate. All the others within budget are hatchbacks.

@SolasAnla

In reality the company is giving you and the other staff a pay cut. Your total renumeration benefits from when you started has just dropped by 5k.

If its their asset why are you looking for it instead of been given a list of approved options by HR / the fleet manager?

Is the payment 25k per year which can be used in a finance deal?

As for charging, it unless you are on the road, why not use the charge points they are naturally planning to install at your work?

That's what I feel as well. Pay cut.

We aren't being given a list because our fleet manager just doesn't. I only got the email at 8pm last night so not really had much to think about it. I am going ask to him and the MD today.

I live 5 mins from head office, that does not have charging points and they haven't committed to when we are getting them. I also travel to different offices and they are a bit hit miss on wether they have them or not. Our most locals ones do, but the rest are hit and miss.

If head office had charging points it wouldn't really be an issue apart from at weekends.

@HunterHearstHelmsley

They've dropped the budget when used car prices are at an all time high? That's not very sensible!

I've just had a quick look, with their requirements and yours, there was only one suitable car - Kia Nero 2 estate. All the others within budget are hatchbacks.

Can I ask where you found that?

And yes, it's seems ridiculous that they dropped it 5k, from 3 years ago and in this climate. It needs to go up, not down.

Actually quite annoyed the fleet manager expects me to find given the parameters.

Kia?

I agree with PP's it's going to be a struggle in the current market, I would recommend self charging hybrid Toyotas (I have had two now and love them) but for a decent size model you are looking at more like £30k in the current climate.