An Average EV Or Your Dream Car?

With April quickly approaching and car taxation seeing its biggest overhaul in quite a few years, purchasing and running a new car could potentially be about to get even more expensive. As explained in our previous article, ‘Changing Your Car Now Could Save You Thousands’, all cars are seeing tax increases from 1st April, and fully electric vehicles are not exempt from the changes.

With EV’s now subject to Vehicle Excise Duty (VED) charges, for many, their main incentive for cheaper running has taken a bit of a hit. Especially now that they are also subject to the additional Expensive Car Supplement (ECS) for the following 5 years. Whilst the charge was initially brought in for ‘expensive’ or ‘premium’ cars with a list price in excess of £40,000, a lot has changed since its 2017 introduction.

According to automotive research firm, NimbleFins, the average price of a fully electric vehicle is currently £46,000. So, it turns out the average car is now an expensive car. Not only that, but the average price of a luxury version, the intended original target for the ECS, now stands at just under £70,000.

So with this in mind, is there a better way to spend £70,000 on your next vehicle that isn’t subject to the Expensive Car Supplement, and might just end up being a car you have always dreamed of owning. With the incentives to purchasing an EV getting less and less, why spend all that money on a car that you might not be that enthused about, when you could spend it on one that does quite the opposite.

Classic Cars

Surely one of the most sensible ways to spend your £70,000 would be to purchase a car that is unlikely to lose much, if any, of its value whilst you own it. In fact, it might even appreciate in value. With a vehicle that is already a desirable classic, not only are you unlikely to suffer a great deal in terms of depreciation, but you get to own something you have always wanted to in the meantime.

Jaguar E-Type

Think of a desirable classic and one of the most popular choices is likely to be a Jaguar E-Type. A car once described by Enzo Ferrari as the ‘most beautiful car ever made’, a man who knew a thing or two about creating breathtaking vehicles. Not only that but it is a car that seems to get more and more stunning with age, especially in today’s world of generic looking SUV’s.

Many cult classic cars have recently seen a bit of a readjustment with some of their values, meaning they may have become more affordable than they once were. This can be due to demand or oversupply, or the quality of some of the vehicles that are coming up for sale.

A few years ago a good quality V12 example would cost around £100k, more recently they are selling for around £60k-£70k. Reasonable quality and older restoration vehicles can be found for around £50k and some that require a bit of work can be found for as little as £35k-£40k. Therefore your £70k budget can see you looking at a very good example with reasonable to low miles and a car that is no doubt one of the most sought after classic cars of all time.

Porsche 911

If your mind hasn’t instantly thought of an E-Type when you mention a classic car, it usually means you have thought of a Porsche 911 instead. The Porsche 911 is perhaps the definitive motoring icon. A car that has more than endured the test of time but has redefined what it means to have a dependable, refined sports car that can be used every day and outperform all others.

After 8 generations and more than 60 years the 911 has not only managed to remain at the very top of its game, but hasn’t strayed from its original recipe for success. Its familiar silhouette with its engine at the rear and its penchant for nimble handling and impressive speed has remained the staple of the sports car’s brand.

With £70,000 to spend there are an abundance of examples from a wide range of 911 generations and iterations. It might even see you lucky enough to acquire a reasonable example of its predecessor, the 356. Aside from that, everything from an early 1960’s example to the latest 992 is within reach but for curb appeal and future value potential it is difficult to beat a good standard ‘G-Series’. For that money a desirable Targa, Carrera T or SC from the 1970’s and in fantastic condition is very possible. The look on everyone else’s faces when you’re driving it will more than justify that purchase price.

Supercars

For many people it doesn’t get ‘dreamier’ than owning a supercar. The ultimate appeal of exotic looks, intoxicating noise and excessive power makes a supercar the dream purchase for most car enthusiasts. They were the cars that you had on your wall as a child, the car that you dreamed of one day owning when you were growing up and the treat you promised yourself when you eventually made enough money to afford one. And for £70,000 there are certainly some desirable options out there.

Audi R8

The Audi R8 is one of the few cars that have managed to hold a torch to the 911 in terms of impressive performance and handling yet with everyday ease of driving. Not only that but it was even more beautiful to look at and had an even more impressive sound track thanks to a V8 or V10 naturally aspirated engine. It may have been discontinued for now as the flagship of the brand, but rumours are circling that it is due to return in a few years’ time with even more power from the usual Lamborghini derived engine.

The first generation came with a 4.2-litre V8 from the RS4 or a 5.2-litre V10 from the Lamborghini Gallardo, whilst the 2nd and 3rd generations ‘only’ came with the V10 from the Huracan. All have offered the perfect blend of head-turning looks, incredible soundtracks and futuristic and exotic looks that are everything a supercar should be about. Yet this time with the luxury, refinement and ease of driving that Audi do best.

For £70,000 of your money there are an abundance of options available across all but the latest iteration of R8. From a low mileage early example assured a future classic status at some point in the not-too-distant future, to a 2018 V10 Plus model with an extensive specification, as well as Coupe or convertible Spyder variants. There is also the option of the limited ‘RWS’ rear-wheel drive special edition for those looking for something a bit more driver focused or the even more rare ‘GT’ of the Mk I version. Whichever R8 you choose, it will put a smile on your face every time you drive it or just look at it on your driveway.

Ferrari F355 / 360M / F430

If supercar desirability is what you are after nothing can compare to one with the prancing horse on the bonnet. A Ferrari is much more than a car maker, it is one of the most recognisable brands in the world and one of the most illustrious and successful racing teams of all time. It is the epitome of luxury and performance and for so many enthusiasts, nothing else even comes close.

Whilst you could spend your £70,000 on the latest generic EV SUV, it could not be more opposite to the passion, drama and sense of occasion that a Ferrari can provide. For that budget you are also looking at models that were a turning point for the brand in terms of driveability and build quality.

From the game-changing F355 of the mid-1990’s to the revised and more usable 360M and then the more driver focused F430 of the mid 2000’s, £70,000 buys you some of the most refined Ferrari products they had ever made. With the F355 becoming a genuine classic appreciated for how much it brought they brand right up to date, to the steadily appreciating future classic 360M and surely soon to be a collector’s item in the F430, all 3 offer the perfect Ferrari experience. Get either in the iconic Rosso Corsa too and you can’t go wrong for the full Ferrari experience.

Luxury Grand Tourers

One of the main reasons most people purchase an EV is that they are using it as an everyday vehicle to perhaps commute to their place of work each day. But whilst an EV is the perfect way to do just that, you could do the same thing in something much more luxurious and stylish.

Bentley Continental GT

Why go anywhere else for power, luxury and refinement that you need for ‘grand touring’ than with a Bentley. The very company was founded on the principles of creating fast, luxurious cars that were just as comfortable with their handling ability as they were cruising long distances in effortless fashion. These days that ideal is more present than ever. Especially with a model that is even called a ‘GT’ for that very reason, the Continental GT epitomises everything that a GT car is all about, and so much more.

With sleek yet muscular bodywork reminiscent of Bentley’s of old, an interior offering the upmost in refinement, comfort and latest technology, and an abundance of power reserves, a Continental GT is all the car you could ever need. With seemingly endless ways to craft your Continental just the way you want it, there is also plenty to choose from when it comes to the perfect specification that you are looking for.

Whilst £70,000 might be some way off what a brand-new Continental GT costs it should offer plenty of choice for models around 2018 and before. At time of writing there were almost 500 Bentley Continental GT models listed on Auto Trader for less than £70,000, a huge number for such a premium model of car. The abundant options list also means that there are so many specification variations to choose from, and that’s before you look into choosing between a V8 or a W12, a coupe or convertible GTC or performance models such as the ‘Speed’.

BMW M8 Competition

When the 8 Series was brought back as part of the BMW range it saw the return of one of their most popular flagship models from yesteryear. The original 8-series, complete with its pop-up headlights, has seen quite a resurgence as a future classic amongst fans of the brand. With the new version announced it was only a matter of time until they produced the ultimate grand tourer in the shape of the M8 Competition.

The M8 Competition offers the usual BMW blend of luxury, refinement and abundant technology yet includes their twin-turbocharged 4.4-litre V8 engine for over 600bhp of cruising ability. Not only that, but thanks to that outrageous power it can also accelerate from 0-62mph in a supercar rivalling 3.2 seconds. There a surely only a few vehicles on the market that can offer that complete package.

Despite a starting price of around £150,000 the curse of the luxury coupe depreciation factor means that at time of writing there were no fewer than 25 examples of the flagship BMW coupe for sale on popular automotive marketplace Auto Trader. All understandably have a very extensive specification, and some examples are less than 3 years old, though if you’re looking to avoid that Expensive Car Supplement it might pay to go slightly older to save even more money.

Sports Cars

For those who feel a supercar might be a little bit showy yet are looking for something that is exciting to drive when you get the chance, a sports car is the perfect solution. These days most supercars are no longer stripped out and sparse with equipment and many offer just as much luxury as a saloon car does, with the added bonus of sharp handling and a thrilling drive potential. Especially with the options for an all-electric sports car limited to . . . let us get back to you on that one.

Aston Martin Vantage

Aston Martin are on a bit of a roll these days with the cars they are producing. They may not be in the most profitable shape financially but that’s surely a tradition these days with the brand. The vehicles they are producing however are some of the finest models around, from the DB12, the Valkyrie, the DBX 707 and the Vantage. The latter may have recently been launched as an all new model, but for your £70,000 budget the previous model is a very tempting prospect.

Yes the engine may be ‘borrowed’ from Mercedes rather than an in-house Aston Martin powerplant, but surely a roaring AMG V8 can never be a bad thing. The infotainment is also previous generation Mercedes software, which may be starting to show its age but at least it is proven and works the way it should. Aside from that you get a brilliant sports car with rumbling 500bhp AMG soundtrack, a refined and comfortable place to sit and one of the best-looking Aston Martin’s in years. Something the brand does particularly well.

For £70,000 there are plenty of 2018 AMG engine examples to choose from, most with very extensive specifications and more than reasonable mileages. For those looking for something either a bit more reasonable or with a genuine Aston Martin engine, not only are their plenty of the previous 4.7-litre V8 versions to choose from, but there are even a couple of 6.0-litre V12 Vantage S models to choose from. A genuinely sought after future classic and a very big engine in a small sports car with supercar beating pace and Aston Martin comfort and sense of occasion. What’s not to like.

Porsche 718 Cayman GT4

Whereas the Vantage, for some, looks better than the performance it could provide when you push on a bit, the Porsche 718 Cayman GT4 fills that need perfectly. The 718 Cayman has always been about the very best small coupe for driver thrills, the GT4 takes those thrills that bit further. Despite its performance intentions it still remains just as happy cruising along or in traffic as it does testing your abilities on a demanding road or race track.

With deeper bumpers, bigger wheels and a big, fixed rear wing, the GT4 certainly looks the part when compared to most other sports cars. Its famed precise handling has been fettled to perform even better either on a track, winding B-road or simply cruising down the motorway. Then a 4.0-litre straight-six engine producing over 400bhp ensures that 0-62mph takes a little over 4 seconds and keeps the car going to almost 190mph.

Porsche owners know how critical certain optional extras are so the majority of GT4’s on the market for the £70k budget have been specified very well indeed. The difference between the thrill of the naturally aspirated high revving engine in the 718 Cayman GT4 and the silence of an EV could not be more opposite, especially if you are keen enough to opt for the manual gearbox for that connected feel. If you enjoy the thrill of driving there is no better way to experience the magic that gives Porsche owners that knowing grin they have.

Luxury SUV’s

So many new cars these days are an SUV, especially when it comes to EV’s. The number of small hatchbacks, sports cars and especially convertibles in all-electric format are able to be counted on one hand, yet the sheer number of SUV’s are surely in the hundreds. What is interesting though is that for many of the established premium SUV brands, Porsche, Land Rover, Range Rover, Bentley, Rolls Royce, none of which have released an all-electric luxury SUV as yet.

Land Rover Defender 110 URBAN

Many people might not consider a Land Rover Defender 110 as a dream purchase but the popularity of the latest model to carry the name and especially one with the right specification, it is definitely a sought after purchase for a lot of people. With its nostalgic design cues, rugged abilities and silhouette harking back to the original icon, there’s a lot to like about the Defender. The fact that it now offers Range Rover levels of refinement and technology means that the appeal has a whole new fanbase than the original.

One of the most popular cosmetic upgrades for your Defender comes from Milton Keynes based modifiers URBAN Automotive. With custom styling possibilities, wheel upgrade options and even full car conversions to choose from, an URBAN Defender is a thing of beauty. Designed more for exploring the urban jungle rather than the actual jungle, an Urban Defender takes the model’s effortless cool factor up a notch to ensure it looks just at home covered in mud as it does pulling up outside a Michelin starred restaurant.

Despite the expense of the modifications and the fact that the Land Rover Defender 110 regularly appears on lists of the slowest depreciating cars, there are a good number of Urban Defender examples for sale for a £70,000 budget. It might not stretch to the ‘full-fat’ 5.0-litre Supercharged V8 version but most listed on Auto Trader have very extensive specifications and offer the full Urban kit. The perfect vehicle to take the whole family across any terrain and all in perfect comfort, there’s a reason the Defender is so popular.

Audi RSQ8

For those looking for the ultimate performance SUV the obvious choice is the Lamborghini Urus. However, for what is essentially underneath the same car, the Audi RSQ8 offers 95% of the experience just without the badge and a bit less of the ‘in your face styling’ and for much less cost. The RSQ8 starts at just under £120,000 whereas the least expensive Urus S starts at £188,000.

With the same 4.0-litre twin-turbocharged V8 engine, albeit slightly less powerful (592bhp compared with 641bhp for the Urus) and a slightly slower 0-62mph time (3.8 seconds instead of 3.6 seconds), the real-world difference would be negligible. What it also means is that an Audi RSQ8 might just be more affordable than you originally thought.

In fact, with a £70,000 budget there were 7 examples of the RSQ8 listed on Auto Trader at time of writing, an exceptional amount of car for the money. As you’d expect from the Audi flagship it also comes with a lot of standard equipment and most include even more optional extras for that amount too, especially if you can find a sought-after range topping ‘Vorsprung’ version. If you’re waiting for the Urus to come down to a similar price point you might be wating a lot more time.

Why Oracle Car Finance?

At Oracle Car Finance we have your next car funding sorted, no matter which kind it is. Our expert Account Managers use our panel of specialist lenders to help you to find the perfect package, bespoke to you and your circumstances. Our team are always on hand should you have any questions about arranging car finance and your dedicated Account Manager is ready to take your call today.