Whoever bought a BMW i7 new three years ago has watched well over half its price disappear, which is rotten luck for them and a gift for anyone shopping second-hand. Better still, a luxury EV registered before April 2025 escapes a tax that a new one pays for five years.

If you’ve ever fancied a BMW i7, the used market has made it a lot more realistic. Three-year-old cars are listed at dealers from about £45,000, according to AutoUncle listings we checked on 5 November, while the cheapest new i7 costs £104,230. Figures Auto Express published on 29 October show it’s part of a pattern, because the i7, Porsche Taycan, BMW i5, Audi e-tron GT and Mercedes EQS and EQE are all expected to be worth less than a third of their price new after three years and 36,000 miles.

Those Auto Express numbers are forecasts of what a car bought new today will fetch in part-exchange, set against its average list price, or the price of one version where it names one. Dealers ask more than part-exchange value, and plenty of these cars were sold with hefty discounts, so not every first owner has lost quite this much, but the size of the drop shows you where the bargains are.

Which luxury EVs lose the most value

1. Porsche Taycan

Average price new £162,255, expected value after three years about £50,475, so it’s expected to lose about £111,780.

No electric car in Auto Express’s figures loses more cash, though the average is dragged up by Turbo S and Turbo GT versions costing well over £150,000, and 2023 cars are listed from about £51,000. A 2023 car is the version before the 2024 update, which Porsche says brought up to 35% more range, so look up the official range for the exact car you’re looking at rather than going by a new one’s brochure.

2. BMW i7

Average price new £143,530, expected value after three years about £46,050, so it’s expected to lose about £97,480.

AutoUncle showed 21 three-year-old i7s for sale on 5 November, from £43,998, with most between about £47,000 and £63,000. Auto Express reckons the i7 is the wiser used buy of the two big electric limousines, ahead of the Mercedes EQS. Our motoring reporter Tim Barnes-Clay reviewed the facelifted 2026 i7, and two of the changes he found matter if you’re buying an older one. The update lifted BMW’s range figure to as much as 452 miles from 388, so a 2023 car won’t go as far on a charge, but it also took away the iDrive rotary controller, which Tim missed and which a 2023 car still has.

3. BMW i5

Average price new £110,045, expected value after three years about £34,650, so it’s expected to lose about £75,395.

The i5 is the electric 5 Series, long the default choice in the executive car park. Auto Express’s average is higher than the list price of even the top i5 M60 Touring (£98,425), so treat the cash figure as rough, but keeping about 31% of its value is the number that matters. It only went on sale in late 2023, so used ones are mostly 2024 cars or newer, and that’s fine for tax, because what counts is the date the car was first registered.

4. Audi e-tron GT

Price new £107,875 for the S e-tron GT, expected value after three years about £33,150, so it’s expected to lose about £74,725.

The e-tron GT shares its underpinnings with the Taycan, so it’s the closest thing to a Porsche with four rings on the bonnet. Auto Express’s figures are for today’s S e-tron GT, while 2023 cars are the earlier e-tron GT quattro, and used ones are thinner on the ground. One we found, a December 2023 car with about 13,700 miles, was up for £46,850, which AutoUncle reckons is about £5,000 more than it’s worth.

5. Mercedes EQS

Price new £104,540 for the EQS 450+ Premium, expected value after three years about £32,375, so it’s expected to lose about £72,165.

The EQS gives you S-Class space and quiet without an engine, and 2023 EQS 450+ saloons were listed from about £41,500 on 5 November. Auto Express isn’t a fan, though, and says rivals including the i7 are simply better all-round packages.

6. Mercedes EQE

Price new £86,615 for the EQE 350+ AMG Line Night Edition, expected value after three years about £26,850, so it’s expected to lose about £59,765.

The EQE is the smaller EQS, roughly an electric E-Class, and it’s the cheapest way into this club. AutoUncle had 29 three-year-old EQE 300s for sale on 5 November, between about £29,000 and £37,000, which is about what a new Volkswagen Golf costs. Cheaper electric cars lose even more in percentage terms, led by the Lexus UX 300e, and we’ve rounded those up separately.

Why a used luxury EV is cheaper to tax

What matters is the date on the log book. GOV.UK’s vehicle tax rate tables say any electric car first registered before 1 April 2025 never pays the £440 Expensive Car Supplement, however much it cost new, so it pays the £200 standard rate. Electric cars registered since then pay £10 in their first year, then £640 a year for the next five if their list price was over £50,000, which covers every car on this list.

That’s £2,200 over five years that a car registered before April 2025 never pays. October’s Budget raises the standard rate to £210 from April 2027, but the gap stays, and our guide to this year’s car tax changes covers the rest of the rates. Check the first registration date on the V5C before you buy, because an i5 registered in March 2025 and one registered in April look the same on the forecourt but don’t cost the same to tax.

In London, any electric car is ULEZ-free, and the Congestion Charge is £13.50 a day rather than £18 as long as the car is registered for Auto Pay, while plug-in hybrids pay the full £18. That matters if you want a 7 Series, because in 2023 BMW UK sold it only as the electric i7 or as a plug-in hybrid such as the 750e. Drive a 2023 750e into the zone on about 230 working days a year and the charge comes to £4,140, against £3,105 in an i7, so the i7 saves £1,035. Add the £440 supplement the 750e pays until its sixth year on the road and the i7 comes out almost £1,500 a year ahead. From April 2028, though, electric cars will also pay 3p a mile on top of road tax, which is about £270 a year if you cover 9,000 miles, and Regit has worked out what pay-per-mile tax will cost you at other mileages.

What to check before you buy

A 2023 car will only just have had its first MOT, so the service history tells you more than the MOT record. Ask for a battery health report, which shows how much of the original capacity is left, and check how long the battery warranty has to run. Make sure both charging cables come with the car, look at the tyres (heavy EVs get through them quickly) and get an insurance quote before you fall for one, because a car that’s cheap to buy is still expensive to insure.

When you’ve found the one, put its number plate into Regit’s free car valuation and you’ll know whether the dealer’s price for that i7 or EQS is fair before you start haggling.

Our verdict

Let someone else pay for the first three years. A 2023 BMW i7 from about £45,000 is our pick, because it has a back seat built for being driven around in, keeps the rotary controller the new one has lost and costs £200 a year to tax. If you’d rather drive than be driven, the Taycan from about £51,000 is the more exciting car, and the EQE from £29,000 is the cheapest way in, but whichever you choose, get the battery checked and the insurance quoted before you sign.