Selling the PHEV

Gday fellow Phevers,

Been a while since I have been on here but I thought I would let know what is happening.

Yes I am thinking of selling the Phev.

That's right I am going to sell it to my wife and sons as I cannot get the bloody thing off them. But they thought I was mad for buying it over 2 1/2 years ago.

Then I will buy another Phev so I can bloody well drive it myself.

But I cannot blame them. It is a great car IMO no matter what some of you whingers think. :lol:

Regards Trex.

Trex said:

Then I will buy another Phev so I can bloody well drive it myself.

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I have the same problem! :lol:

:lol:

Taken me years to take the plunge and now can't see what I was so worried about - brilliant :mrgreen:

Even got a few of my Landy buddies interested now they've stopped laughing and shared my experience

Especially this time of year "can you do that phone thingy and warm it up for me darling?" I often get now!

Wife suffers Raynaud syndrome in her hands obviously worse this time of year and she hates windscreen scraping as it becomes painful.

BobEngineer said:

Especially this time of year "can you do that phone thingy and warm it up for me darling?" I often get now!

Wife suffers Raynaud syndrome in her hands obviously worse this time of year and she hates windscreen scraping as it becomes painful.

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Ditto, my Mrs has Raynaud's and she loves the heated steering wheel.

On this subject, has anyone in the UK sold one recently? We are planning to sell ours - to ourselves - it's a company vehicle and the time is approaching for it to become a privately owned vehicle. We will be required to charge ourselves a realistic price - HMRC rules - what is a realistic price for a 2 year old PHEV with about 27000 miles on the clock? Obviously I want it to be as low as possible, consistent with being able to defend it if HMRC come back to us questioning it....

I would get a price from webuyanycar etc and use that as evidence - they are usually accurate in my experience for px value

Muddywheels said:

I would get a price from webuyanycar etc and use that as evidence - they are usually accurate in my experience for px value

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I had thought about that, though I'm not sure that I want a part exchange value - in my experience those can be quite favourable, at least on paper since the dealer is hoping to make up the difference on the new car and all the aftersales. I know that we are not being typical here, but I really want the worst possible price that I can defend if I have to!

I have sold privately, traded in and to online car buyers - IMHO if you use values from autotrader ads, dealers px and online buying services you will have as good an idea as anyone - I would go for an average and argue my corner - nobody pays top price on ads and selling private is now extremely difficult - buyers prefer dealers for so called "peace of mind"

Your vehicle is only worth what you can get for it whatever Glass Guide/Parkers/CAP etc show :?

Muddywheels said:

:lol:

Taken me years to take the plunge and now can't see what I was so worried about - brilliant :mrgreen:

Even got a few of my Landy buddies interested now they've stopped laughing and shared my experience

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Yes, I think it has proven to be a very versatile car, and in Spring/Summer/Autumn I manage my commute of 28 miles round trip on battery so can't complain. Don't expect Land Rover residuals though. My local dealer has 15 plate gx4h cars from around £20,000 :shock:

2013 I paid £54k after discount for a new £60k RR Sport Black Edition and 2 years later dealers offered me between £32-36K against a new £40k Disco Sport with no discount so I know about depreciation

The discount, tax breaks and running costs for the PHEV should go some way to helping the depreciation :?

maby said:

On this subject, has anyone in the UK sold one recently? We are planning to sell ours - to ourselves - it's a company vehicle and the time is approaching for it to become a privately owned vehicle. We will be required to charge ourselves a realistic price - HMRC rules - what is a realistic price for a 2 year old PHEV with about 27000 miles on the clock? Obviously I want it to be as low as possible, consistent with being able to defend it if HMRC come back to us questioning it....

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Glass no longer do prices for consumers, CAP do, I would get the full works for £3.95 and keep it safe. Use the Private sale value. You should be pretty untouchable then.

http://www.cap.co.uk/car-valuation

I wouldn't use Webuyanycar prices.

My PHEV is worth only £15600 now :shock: in only 2 years from £37500 (before grant). So its obvious that the smart move is in buying second hand when they are an awful lot of car for silly money. Sadly those of us on company cars have to buy new each time and then pay all that depreciation to the lease company..stupid!

BobEngineer said:

...
My PHEV is worth only £15600 now :shock: in only 2 years from £37500 (before grant). So its obvious that the smart move is in buying second hand when they are an awful lot of car for silly money. Sadly those of us on company cars have to buy new each time and then pay all that depreciation to the lease company..stupid!

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Unless you own the company - in which case you buy the car, discount it 100% against Corporation Tax in the first one or two years depending on your cash-flow, then sell it to yourself at the highest level of depreciation you think you can defend with HMRC...

I own my own company and bought the PHEV through it (never done this before) and maby has got me thinking :mrgreen:

Muddywheels said:

I own my own company and bought the PHEV through it (never done this before) and maby has got me thinking :mrgreen:

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Ditto. I plan to wind my personal company up (I'm finally hanging up my boots) at the end of the 3-year lease and buy the PHEV from Lex. (Assuming they don't want a silly price, and why would they?)

maby said:

On this subject, has anyone in the UK sold one recently? We are planning to sell ours - to ourselves - it's a company vehicle and the time is approaching for it to become a privately owned vehicle. We will be required to charge ourselves a realistic price - HMRC rules - what is a realistic price for a 2 year old PHEV with about 27000 miles on the clock? Obviously I want it to be as low as possible, consistent with being able to defend it if HMRC come back to us questioning it....

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Would it be worth contacting your insurance company and asking them what they would give you if you wrote it off? Can't get lower than that, surely ?

maby said:

BobEngineer said:

...
My PHEV is worth only £15600 now :shock: in only 2 years from £37500 (before grant). So its obvious that the smart move is in buying second hand when they are an awful lot of car for silly money. Sadly those of us on company cars have to buy new each time and then pay all that depreciation to the lease company..stupid!

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Unless you own the company - in which case you buy the car, discount it 100% against Corporation Tax in the first one or two years depending on your cash-flow, then sell it to yourself at the highest level of depreciation you think you can defend with HMRC...

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Well we are offered a 3 for 2 share option does that count? Might be tricky raising the $92 Billion for an outright buy but I will give Mastercard a call and see if they will do interest free offer :lol:

Seriously it sounds like a great position to be in if you can be.

Muddywheels said:

I own my own company and bought the PHEV through it (never done this before) and maby has got me thinking :mrgreen:

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We've done it several times - a good way to get a new car and extract money from the company in a tax efficient manner - but make sure that you can defend the price you charge yourself.