££££ help

I would check your figures with the Revenue and Customs site as they changed the "tax allowable" rates, downwards.

Mileage allowance payments have not changed; they're still 45p then 25p. See Rates and thresholds for employers 2015 to 2016 - Detailed guidance - GOV.UK

However they're not really relevant to your calculation - you'll get the same amount per mile from your employer whatever type of car you drive.

So with your current car you spend £400 on the car and £200 on diesel = £600.

A Tesla will cost you £775 per month, plus perhaps £20 of electricity assuming you're doing some charging at home and some at superchargers. The insurance will be more, but the car tax will be less, so overall those probably cancel out.

So the important question is "can you afford an extra £195 a month?".

You will struggle to make the numbers add up when you consider a 5 series is significantly cheaper to lease. (It's silly season again and I'm getting email offers on business rates below £200 pcm on 2 yr CH deals :O) For pounding up and down motorways there is little in it, with pros and cons to both.

The fuel savings have a long way to go to make it a bargain, especially as a personal purchase. (BIK savings for self employed are probably more important, and a different matter)

At the end of the day it is a great car, but one which is expensive, and never discounted so will likely require man maths to justify

Hmm, it seems my employer is being "economical with the actualities"...

Thanks for pointing this out....

Hi blobert07,

As much as I hate to have to say it, it sounds like you should be salting away your £243/month to a 'buy a Tesla fund' and wait for the M3. Tough, I know. By then we will probably also know if OPEC's deliberate suppression of the price of oil really is about putting the frackers out of business or (what I think is really behind it) OPEC trying to kill the Electric Car all over again.