BMW iX1: running costs & insurance

While the starting price for the regular petrol–powered BMW X1 is around £34,000, and the plug-in hybrid version is priced from just under £42,000, the fully electric iX1 starts at just under £45,000 – almost identical to a Tesla Model Y RWD. 

That’s a lot of cash any way you look at it, but once you get past the high starting price, the iX1 benefits from the same perks as all electric cars, including an exemption for road tax (VED) and the London Congestion Charge until 2025, not to mention a 2% Benefit-in-Kind company-car tax rate for the next few years.

BMW iX1 insurance group

How expensive the BMW iX1 will be to insure largely depends on which powertrain you choose; rear-wheel-drive eDrive20 cars sit in the pretty reasonable groups 29-30, while the xDrive30 falls into insurance group 37 if you go for the base xLine trim, or group 38 if you opt for the M Sport version. Not cheap, but likely around the same money to insure as a four-wheel-drive dual-motor version of its rivals like the Audi Q4 e-tron or Volvo XC40 Recharge. Opt for a Tesla Model Y and this will be even more expensive to insure, with even the base rear-wheel-drive model occupying group 46 and top-of-the-range Performance models sitting in the higher group 50.

Warranty

Like all new BMWs sold in the UK, the iX1 is covered by a three-year manufacturer warranty, with no mileage limit during that time. While that’s pretty much par for the course, some buyers will expect more, especially given the likes of Kia now offer warranties of up to seven years or 100,000 miles across all its models.

BMW’s ‘i’ electric-car warranty also includes BMW Mobile Care and protection for the car’s high-voltage battery for up to eight years or 100,000 miles, whichever comes first.

Servicing

Like the larger BMW iX3 SUV and i4 saloon, the BMW iX1 only needs servicing every two years or 20,000 miles – whichever comes soonest. BMW also offers an inclusive service package for the iX1 for £410 which covers routine servicing for at least the first four years after your vehicle’s registration date.

Road tax

Like all electric cars, the BMW iX1 is zero-rated for road tax (VED) until 2025 and will remain exempt from the London Congestion Charge until 2025, too.

Depreciation

The BMW iX1 is pretty expensive, so private buyers will certainly be curious how it holds its value over time. Thankfully, the iX1 does better in this regard than some of its rivals, retaining anything between 48-52% of its initial asking price over three years and 36,000 miles of ownership, according to the latest industry figures. In comparison, a Mercedes EQA will retain roughly 42-45% of its value over the same period, while the base Tesla Model Y RWD is expected to hold onto an impressive 57% of its retail price.