The Best Electric Cars to Buy Now – Before Higher Taxation is Applied
Thinking about buying an electric car that costs more than £40,000? You might want to hurry, as waiting until April could potentially cost you an extra £2,050.
That’s because on April 1st, new tax regulations will subject electric cars to vehicle excise duty (VED). Until now, EVs have enjoyed a zero-rate tax, effectively eliminating VED for electric car owners.
The new guidelines mean EV owners will have to pay tax at the alternative fuel rate, currently £180 per year. Furthermore, all new electric cars registered from April 1st onwards that cost £40,000 or more will also incur the premium car surcharge, also known as luxury tax. This will result in an additional £410 annually, from the second to the sixth year, based on current rates.
In an unusual step, this aspect of the modified VED rules is being applied retroactively, meaning even electric cars already on UK roads will be affected, even if purchased before April 1st. However, the premium car surcharge will only apply to new vehicles. So, if you buy and register a £40,000-plus EV before April, it won’t be liable – saving you £2,050 over the initial six years of ownership.
It could also be worth more in the long run. Over the next few years, many second-hand buyers are likely to seek out nearly-new examples registered before the April 1st deadline, rather than having to pay the premium car surcharge. This scenario may cause these pre-rule-change models to be worth slightly more, relatively speaking.
Therefore, if you’re considering purchasing one of these models, it makes sense to do so sooner rather than later. Here are some of the noteworthy options.
Hyundai Ioniq 5 Long Range
From £43,400 The most economical of the bunch blends rapid charging capabilities with a spacious interior. The sharp-edged Concept 45 design study from Hyundai, unveiled in 2019, evolved with surprisingly few modifications into this mid-sized family SUV. It features fast charging, a light, airy, and versatile interior, as well as a comfortable ride. The addition of a rear screen wiper, previously absent in earlier models, has resolved one of the few criticisms.
Skoda Enyaq 85
From £44,300 The Skoda Enyaq 85 also benefits from its size making it family-friendly. This model, based on the Volkswagen ID.4 platform, comes at a lower price point while still feeling premium. Despite the underwhelming touchscreen software, the Enyaq is notably quiet, comfortable, and remarkably spacious, making it an easy-going electric vehicle option, according to the review.
Polestar 2
From £44,950 It’s important to choose wisely; top-spec models tend to have a firm ride. However, single-motor versions provide a smooth driving experience. The Polestar 2 features a sophisticated interior and a responsive touchscreen, complemented by agile handling and well-weighted controls. The only downside is its slightly limited interior space.
Tesla Model 3 Long Range
From £44,990 Model 3s are ubiquitous these days, and for good reason, thanks to Tesla’s charging infrastructure, making charging easy and intuitive. The Model 3’s spacious, airy interior and remarkable performance contribute to its appeal.
Kia EV6
From £45,575 The EV6 has received a recent facelift and remains a favorite. This is thanks to its blend of striking styling, an attractive interior, and extensive passenger space. It also shares the rapid-charging technology with the Hyundai Ioniq 5, which means less waiting time at public charging stations.
BYD Seal
From £45,695 If you are looking for an electric saloon, the Seal is worth considering. It is a particularly good option if you are wary of battery fires. The Seal’s LFP battery design poses a far lower risk compared to other battery chemistries. Furthermore, the interior is of high quality and offers ample space. The Seal also delivers a satisfying driving experience in most respects.
BMW i4
From £51,270 While the styling can be divisive, the i4 is a well-engineered electric car. Its four-door coupe profile is more streamlined than many EVs, and while it may not be as agile as other BMW models, it still provides a great driving experience. The wide-opening boot lid also enhances its practicality.
Volkswagen ID.7
From £51,580 VW’s large hatchback is engineered for comfort and excels in this aspect. The soft suspension effectively dampens bumps, even on rough roads, and the interior offers a generous amount of space. While the reliance on touchpads could be improved by the inclusion of physical buttons, the ID.7 is a top-performing vehicle overall.
Genesis GV60
From £54,105 As the GV60 is about to undergo a mid-life refresh, it may be wise to look for deals on the current models before the changes. You’ll get a comfortable, beautifully finished, and spacious electric SUV that is slightly different from the norm, backed by numerous ownership advantages.
MG Cyberster
From £54,995 Following the Tesla Roadster, MG has introduced the Cyberster as the first mainstream two-seater electric sports car. While there are some imperfections, the Cyberster is still enjoyable to drive. Its attractive design is sure to turn heads.
Volkswagen ID.Buzz
From £59,035 After teasing us with concept cars for decades, Volkswagen has finally launched a modern take on its classic Type 2 bus with the ID.Buzz – and it’s the coolest people carrier ever. With options for five or seven seats, plenty of space for family adventures, and wonderfully flexible seating, it effortlessly defines the electric SUV as a multi-person vehicle.
Kia EV9
From £65,025 The EV9 does not offer the same level of versatility as the seven-seat ID.Buzz, but its smooth performance on the road is where it excels. Even the most basic EV9 models offer a sense of calm, with soft suspension and excellent sound deadening. If you want a large EV that will lull your family to sleep, this is the perfect choice.
Porsche Macan Electric
From £68,500 Like its counterpart, the Taycan, the electric Macan sets new standards for driving enjoyment in an electric car. It has precise steering, a well-balanced chassis, and excellent grip, undoubtedly making it the electric SUV of choice for driving enthusiasts. However, be cautious about the options list, which is extensive and could lead to financial setbacks.
