BMW 530e hybrid costs, insurance, warranty & tax
The BMW 530e's running costs are extremely low if you’re a company-car user, but could be quite steep if you’re a private buyer
|Insurance group||Warranty||Service intervals||2021/22 company-car tax (20% / 40%)|
|36-38||3yrs / unlimited miles||2yrs / 18,000 miles||From £1,073 / £2,146|
The BMW 530e is a two-sided financial proposition. Company-car users benefit from low BiK tax; a 40% taxpayer will save over £2,500 in company-car tax by opting for the 530e instead of a 520d during the 2020/21 financial year. You also get free access to London's Congestion Charge zone until October 2021, and these savings come on top of potentially very low fuel bills. Provided you plug the 530e in regularly, you should be able to do most of your weekly mileage virtually free (especially if you have access to a charging point at work).
Lease costs for a company to run a 530e are also very competitive, and remarkably close to those of standard diesel 5 Series models. Essentially, the 530e is something of a no-brainer for business users and fleet providers. BMW typically offers good dealer discounts and low-rate finance on the 530e for retail buyers, too, so compared to rival PHEVs like the Volvo S90 and Mercedes E-Class, and even compared to the BMW 530d, it's very competitively priced.
BMW 530e hybrid insurance group
Insurance costs on the 530e should be competitive by the standards of the large executive saloon class. The SE spec falls into group 36, which makes it cheaper to insure than a 530d, if more expensive than a 530i, and it should cost a similar amount to an equivalent Mercedes E-Class or Audi A6. The slightly more expensive M Sport version falls into group 37, while the in xDrive four-wheel drive form, the SE and M Sport are in groups 37 and 38 respectively.
BMW offers a three-year/unlimited-mileage warranty, including roadside assistance, on all of its models. That’s the same warranty cover that you’ll get with Mercedes, while Audi and Volvo offer standard cover for up to three years or 60,000 miles. More disappointing is that BMW only warranties the batteries in its plug-in hybrid cars for six years and 60,000 miles – lower than the eight-year/100,000 mile cover on most rivals.
There are no set servicing intervals on the BMW 530e – instead, it’ll ping up an alert on the dashboard when a service is due, the frequency of which will depend on your usage of the car. BMW offers a comprehensive fixed-price servicing package, which isn’t cheap, but can be spread out into monthly payments. All new BMWs also come with MoT Protect, which means BMW will repair any faults that cause the car to fail its first MoT inspection free of charge.
The BMW 530e is free of road tax for the first year, but is subject to VED of £145 a year thereafter. On top of that, because it costs more than £40,000, it’s subject to an additional 'premium-rate' tax of £335 for years two to six. That means, all-in, the 530e will cost £480 annually from years two to six, and £145 a year thereafter.
In This Review
- 1VerdictThe BMW 5 Series plug-in hybrid is a lot like every other version of the 5 Series, in that it's great to drive, comfortable and luxurious
- 2Range, MPG, CO2 & chargingWith a pure-electric range of over 30 miles and CO2 emissions as low as 31g/km, the 530e will be cheap to run provided you charge it up regularly
- 3Running costs & insurance - currently readingThe BMW 530e's running costs are extremely low if you’re a company-car user, but could be quite steep if you’re a private buyer
- 4Performance, engine & driveYou get bona-fide sports saloon pace and grace with the 5 Series hybrid, but the ride is slightly firm
- 5Interior, dashboard & comfortBeing the same as the standard 5 Series is no bad thing for the hybrid, given that it brings limousine-like comfort
- 6Boot space, seating & practicalityThe 530e loses some boot space in order to accommodate its batteries, but it’s still adequate for practicality by executive-saloon standards
- 7Reliability & safety ratingSafety and reliability are both BMW 5 Series strong points, and the 530e plug-in hybrid is no different