If you’re in the market for a nice shiny new Tesla, then you really need to read my article. Buying a Tesla and the whole experience is unlike any other car brands, have you visited a Tesla shop or dealer? Its not the norm!
But let me help you with a few questions and tips that I have helped other people with over the last 12 months.
Can you save money on a Tesla?
I get asked about discounts on Tesla all of the time. Tesla do not discount, in fact there is no need for them to discount and it can also hurt the future values of their cars if they did.
By Tesla keeping their cars at the rates they do, without discounting it really does help keep value on the cars and more importantly their brand.
ut where yo can make savings is by looking at their existing inventory on their website. They usually have quite a few cars available with little mileage that you can save some money on, not much, but a savings a saving right?
Get Free Supercharger Miles
I’ve pushed Tesla Referral Codes a few times, but when buying a Tesla use one! It benefits both parties, signup using a link or code and it will give you a bank of supercharger miles to use.
When you’ve taken delivery, get a referral code and share, share, share!
If you haven’t bought a Tesla, please do use mine: https://www.tesla.com/en_GB/referral/rhys58317
Government Plug-In Grants
If the Tesla you are purchasing has a list price of under £50k, then take advantage of the £3,000 government grant. Tesla display their prices on the internet including the grant, so don’t double up.
Company Car Tax
Company Car Tax has been the bain of my life for a long time, K code tax codes are not nice but at the end of the day I got a car to use for work and personal life.
But with a Tesla, from the 6th April 2020, both new and existing Tesla vehicles will be eligible for a 0% Benefit in Kind tax for the 2020/2021 tax year. This rises to 1% in 2021/2022 ad 2% in 2022/2023.
Car Fuel Benefit Charge
Another hit on my tax code was my fuel card, whilst extremely convenient, especially when compare with trying to claim mileage from Co-operative Motor Group, it was expensive.
With an Electric Car, the electricity is not classed as road fuel, so you will not be charged benefit in kind when charging your car from your work charging point.
Claiming Company Mileage?
If you do claim company mileage, the standard rates do not apply. HMRC only allow you to claim 4p per mile for a fully electric vehicle.
Electric Car Road Tax
All zero emission vehicles, including all Tesla models are exempt from paying vehicle excise duty. This even includes the higher price Tesla Model S and Tesla Model X.
Congestion Charge Exemption for Electric Cars
If you drive into London in a Petrol or Diesel car, you are required to pay the London Congestion Charge on a daily basis. From the 22nd June 2020 the charge has expanded to 7 days per week and is applied between the hours of 7am and 10pm.
However, if you have a Tesla, you can apply to TFL (Transport for London) to have a 100% vehicle discount. It does cost you £10 per year to apply, but if your a regular cummuter into the capital it will save you some money.
Ultra Low Emission Zones
Another London based charging region is the Ultra Low Emission Zone. Again, Tesla vehicles are exempt from paying this charge.
Living in Scotland?
If you live in Scotland then you can get an interest-free Electric Vehicle loan up to £35,000 for purchasing brand new plug-in Electric Vehicles for Personal Use. This comes from Transport Scotland.
If you are a business, you can get a loan of up to £120,000 for purchases on brand new plug-in electric vehicles.
100% First Year Allowance
If you’re a business and looking to choose Tesla’s for your fleet, then you will benefit from the 100% First Year Allowance (FYA) when purchasing a Tesla.
The First Year Allowance applies to new vehicles or those vehicles considered to be new such as inventory stock, ex-demonstrators with low mileage or pre-registered vehicles.
This scheme is currently available until March 2025, subject to changes.
My god, have I found it difficult to get insurance for the Tesla. With my broker stating that the reason for the ridculous quotes is due to the repair costs and the time a Tesla spends off the road if involved in an accident.
But I have found some very helpful insurance companies who provided me with some excellent quotes and support befoe purchasing, these included LV, AXA and NIG.
Use services such as Quidco to compare prices and then, if you can go direct, depending on the price.
I’ve already mentioned the referral codes and the Tesl Supercharger Network is amazing to use and so quick, but if you’re planning to charge at home, don’t just go for the free home boxes.
I went for the Ohme which talks to Octopus Energy, its quite smart and talks to the car and the charger to charge at the cheapest time of day. With Octopus Agile, it sometimes pays you to charge the car! Seriously!
Any more Advice?
Just drop me a line and I’ll see if I can answer your questions!