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Battery size: 11.8 kWh
Company car tax: 11%
Emissions: 29 g/km
Range: 33 miles
Fuel economy: 40-45 MPG
Pricing
Plug-in hybrids are popular with company car users since they’re subject to very low tax costs. The 508 PHEV falls into the same tax bands as most of its rivals, and for a higher rate tax payer will cost circa £1500 per year in tax for the next three years – well over half what the 1.5 diesel Peugeot 508 would cost.
The 508 is also decent value to private buyers, especially given the generous equipment list and competitive finance deals. However, the Skoda Superb iV is better value still, despite being roomier and a little better to drive, and you could also consider the far less sexy but even better value Hyundai Ioniq Plug-In Hybrid for even better purchase costs. It’s not hard to find yourself spending £40,000 and over on the 508 if you go for a top-spec trim, but try to avoid this as you pay more in road tax and will lose more money in residual value.
Running costs
Plug-in hybrids can be a false economy if you don’t use them properly. It’s only if you plug them in regularly and do mostly short journeys that they justify a higher purchase price than your average non-electrified car, since that’s when you get the fuel savings. For instance, running the Peugeot 508 Plug-in Hybrid in electric mode costs well under 5p per mile, while running it with the engine running and returning 40mpg will be costing more like 14p per mile. You can cut those electricity costs still further by using off-peak tariffs, or you could cut them altogether if you can get a cheeky free top-up at work.
Servicing can be paid for in fixed monthly instalments, and will cost around £400 for the first three years to cover a service every 12 months and 10,000 months. The group 31 insurance is a little high – some 5 groups above the Skoda and VW Passat.
The value of a 508 when you come to sell it on isn't likely to be as good as with the Skoda, though. The Peugeot is predicted to be worth a little less than the Superb iV after three years and 36,000 miles despite costing more to buy in the first place.
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