Salary sacrifice leasing

[Basil Brush]

pghstochaj said:

I don't think it does, 36 months, 10k miles, the SR is £496. Are you doing a search for "personal" as it is £600 for personal. Best price on Leaseloco is £469. All exc. maintenance (£49) and insurance (depends on your circumstances). Anyway, when a LR is £524 (36 months, 10k), you would have to be quite strange to go for the SR at £496.

You're right it's not the full personal cost as you can claim some of the VAT back, so more like 550. The LR on ours is about 70 quid a month more.

[pghstochaj]

SWoll said:

pghstochaj said:

Maintenance is £48 (gross)/month more, insurance is not included.Not at all being subsidised, that's the market rate. We use Leasing Options (you can find the prices on their website too, you don't need a special account). It's not a particularly great price, check out lease loco for a comparison, your organisation should be pushing for prices close to the lower level on Lease Loco not allowing things like £650/month (gross) for an SR to be normal, I pay less than that for a Model 3 Performance with 15k! If we were being offered £650 for an SR we would just move.

We are slowly getting a car park of white Teslas.

Not sure what you are talking about TBH. Cheapest 3 year/30k mile deal for an SR+ on leaseloco is £565 without maint, insurance or any of the other benefits mentioned above. Leasingoptions quote £595 on the same terms.




The Model 3 Performance is £1000 a month.

This is a topic called "salary sacrifice leasing" but you're posting Personal Lease prices.

[SWoll]

pghstochaj said:

This is a topic called "salary sacrifice leasing" but you're posting Personal Lease prices.

Have you bothered to read the rest of the thread? We were comparing SS costs with how much it would cost to lease yourself on the same terms.

Also, your salary sacrifice setup is very different to most as doesn't include any of the extras. First I've seen that works that way TBH, and from the look of it prices have also gone up quite a bit since you signed up?

[pghstochaj]

Basil Brush said:

pghstochaj said:

I don't think it does, 36 months, 10k miles, the SR is £496. Are you doing a search for "personal" as it is £600 for personal. Best price on Leaseloco is £469. All exc. maintenance (£49) and insurance (depends on your circumstances). Anyway, when a LR is £524 (36 months, 10k), you would have to be quite strange to go for the SR at £496.

You're right it's not the full personal cost as you can claim some of the VAT back, so more like 550. The LR on ours is about 70 quid a month more.

I am not sure why you are making up the numbers, it's not "more like £550", it's the price on the site, it's not a hidden site or specific to a business/organisation.

The SR on 36 months, 10k miles is £496/month gross. The best price for the same on Lease Loco is £469/month gross so some room to reduce.
The LR on 36 months, 10k miles is £524/month gross. The best price for the same on Lease Loco is £500/month gross so not much room to reduce.
The Performance on 36 months, 10k miles is £811/month gross. The best price for the same on Lease Loco is £792/month gross so not much room to reduce.

The above is excluding maintenance and insurance.

[Hugo85]

My firm offer SS so also been looking at a Tesla Model 3 SR+ or the Ioniq 5.
Seems a no brainer at a net cost of £396/month for the Tesla (Gross £671/month). Ideally want the long range but that's another £80/month.

[pghstochaj]

SWoll said:

pghstochaj said:

This is a topic called "salary sacrifice leasing" but you're posting Personal Lease prices.

Have you bothered to read the rest of the thread? We were comparing SS costs with how much it would cost to lease yourself on the same terms.

Also, your salary sacrifice setup is very different to most as doesn't include any of the extras. First I've seen that works that way TBH, and from the look of it prices have also gone up quite a bit since you signed up?

So then compare if you wish, those are the prices available. Presumably you need business lease costs for that comparison, or were you just comparing personal lease prices with thin air?

We have the option to include maintenance or to sign that we will maintain the car. Having insurance included is not very common outside of the NHS or very large leasing schemes.

The prices above are the prices available today. In the last year, in my experience the SR has gone up (as nobody wants it), the LR has come down and the Performance has gone up significantly. I paid £636 for 48 months / 15 k which is now £736/month.

[pghstochaj]

Hugo85 said:

My firm offer SS so also been looking at a Tesla Model 3 SR+ or the Ioniq 5.
Seems a no brainer at a net cost of £396/month for the Tesla (Gross £671/month). Ideally want the long range but that's another £80/month.

What mileage/duration and what does it include?

[Basil Brush]

pghstochaj said:

I am not sure why you are making up the numbers, it's not "more like £550", it's the price on the site, it's not a hidden site or specific to a business/organisation.

The SR on 36 months, 10k miles is £496/month gross. The best price for the same on Lease Loco is £469/month gross so some room to reduce.
The LR on 36 months, 10k miles is £524/month gross. The best price for the same on Lease Loco is £500/month gross so not much room to reduce.
The Performance on 36 months, 10k miles is £811/month gross. The best price for the same on Lease Loco is £792/month gross so not much room to reduce.

The above is excluding maintenance and insurance.

I'm not, it may be the price on the site but our company can not claim all the vat back so it is more like £550 as a starting point. Then add on all the stuff that your site's price does not include and you get to more than 650. So you're original question of how can 650 be ok is flawed. That's all.

[pghstochaj]

Basil Brush said:

pghstochaj said:

I am not sure why you are making up the numbers, it's not "more like £550", it's the price on the site, it's not a hidden site or specific to a business/organisation.

The SR on 36 months, 10k miles is £496/month gross. The best price for the same on Lease Loco is £469/month gross so some room to reduce.
The LR on 36 months, 10k miles is £524/month gross. The best price for the same on Lease Loco is £500/month gross so not much room to reduce.
The Performance on 36 months, 10k miles is £811/month gross. The best price for the same on Lease Loco is £792/month gross so not much room to reduce.

The above is excluding maintenance and insurance.

I'm not, it may be the price on the site but our company can not claim all the vat back so it is more like £550 as a starting point. Then add on all the stuff that your site's price does not include and you get to more than 650. So you're original question of how can 650 be ok is flawed. That's all.

Why is VAT reclaimed limited for your company (I am not an accountant so genuinely interested)?

I wouldn't be comparing an SR from leasing options to elsewhere, it's not a particularly strong deal. For the sake of £28/month, I would be only considering the LR.

[Basil Brush]

pghstochaj said:

Why is VAT reclaimed limited for your company (I am not an accountant so genuinely interested)?

I wouldn't be comparing an SR from leasing options to elsewhere, it's not a particularly strong deal. For the sake of £28/month, I would be only considering the LR.

It's restricted to 50% of the VAT if the vehicle is available for private use.

[Cascade360]

Hugo85 said:

My firm offer SS so also been looking at a Tesla Model 3 SR+ or the Ioniq 5.
Seems a no brainer at a net cost of £396/month for the Tesla (Gross £671/month). Ideally want the long range but that's another £80/month.

Fairly frustrating that my gross for a Tesla is 925/month! You can get a Tesla for not much more than I can get a Honda E (342/month).

[pghstochaj]

Basil Brush said:

pghstochaj said:

Why is VAT reclaimed limited for your company (I am not an accountant so genuinely interested)?

I wouldn't be comparing an SR from leasing options to elsewhere, it's not a particularly strong deal. For the sake of £28/month, I would be only considering the LR.

It's restricted to 50% of the VAT if the vehicle is available for private use.

Did I misunderstand this? Edit: I should say, I am on a call so not able to read it in detail.

https://www.tuskerdirect.com/articles/vat-treatmen...

Edited by pghstochaj on Tuesday 19th October 12:08

[Basil Brush]

pghstochaj said:

Basil Brush said:

pghstochaj said:

Why is VAT reclaimed limited for your company (I am not an accountant so genuinely interested)?

I wouldn't be comparing an SR from leasing options to elsewhere, it's not a particularly strong deal. For the sake of £28/month, I would be only considering the LR.

It's restricted to 50% of the VAT if the vehicle is available for private use.

Did I misunderstand this?

https://www.tuskerdirect.com/articles/vat-treatmen...

No, that's NHS specific.

[pghstochaj]

Basil Brush said:

pghstochaj said:

Basil Brush said:

pghstochaj said:

Why is VAT reclaimed limited for your company (I am not an accountant so genuinely interested)?

I wouldn't be comparing an SR from leasing options to elsewhere, it's not a particularly strong deal. For the sake of £28/month, I would be only considering the LR.

It's restricted to 50% of the VAT if the vehicle is available for private use.

Did I misunderstand this?

https://www.tuskerdirect.com/articles/vat-treatmen...

No, that's NHS specific.

I see, that's interesting. Thanks.

[SWoll]

pghstochaj said:

SWoll said:

pghstochaj said:

This is a topic called "salary sacrifice leasing" but you're posting Personal Lease prices.

Have you bothered to read the rest of the thread? We were comparing SS costs with how much it would cost to lease yourself on the same terms.

Also, your salary sacrifice setup is very different to most as doesn't include any of the extras. First I've seen that works that way TBH, and from the look of it prices have also gone up quite a bit since you signed up?

So then compare if you wish, those are the prices available. Presumably you need business lease costs for that comparison, or were you just comparing personal lease prices with thin air?

We have the option to include maintenance or to sign that we will maintain the car. Having insurance included is not very common outside of the NHS or very large leasing schemes.

The prices above are the prices available today. In the last year, in my experience the SR has gone up (as nobody wants it), the LR has come down and the Performance has gone up significantly. I paid £636 for 48 months / 15 k which is now £736/month.

The comparison was between the gross cost the SS company was quoting and how much you could finance the car for with a personal lease. Both are options avaialble to an employee so makes more sense than comparing with a business lease.

Maintenance, insurance and early termination cover included with SS is by far the most common, not sure where you are getting that it's unusual from?



https://www.parkers.co.uk/car-tax/advice/guide-to-...

[Hugo85]

pghstochaj said:

What mileage/duration and what does it include?

That's based on 36 months, 12k pa.
Includes all the usual company car stuff i.e. maintenance, insurance etc

[snorkel sucker]

After much waiting, we have today been given access to our Tusker site.

Have also received clarification that If you are in receipt of a car allowance you can use this to contribute/pay for a car under the Salary Sacrifice scheme. This is what I was expecting would be the case, despite hearing some people say otherwise, and definitely makes the scheme more viable.

A few examples based on 48 months/10k miles:

Hyundai Ioniq 5 Ultimate £402
Taycan (most basic model with zero options) £748
Mustang Mach e AWD £674
Tesla Model 3 SR+ £475
Audi e-tron GT quattro 93.4kWh £830
Jaguar I-PACE 90kWh 400 Black £546

[SWoll]

snorkel sucker said:

After much waiting, we have today been given access to our Tusker site.

Have also received clarification that If you are in receipt of a car allowance you can use this to contribute/pay for a car under the Salary Sacrifice scheme. This is what I was expecting would be the case, despite hearing some people say otherwise, and definitely makes the scheme more viable.

A few examples based on 48 months/10k miles:

Hyundai Ioniq 5 Ultimate £402
Taycan (most basic model with zero options) £748
Mustang Mach e AWD £674
Tesla Model 3 SR+ £475
Audi e-tron GT quattro 93.4kWh £830
Jaguar I-PACE 90kWh 400 Black £546

Blimey, the Mustang is pricey? Ioniq 5 and iPace look decent value, Tesla expensive for an SR+, Taycan and Audi very expensive once you add spec but you still would.

Do those prices include your car allowance?

[Harry Flashman]

Just watching as my company have started this. I may have some dumb questions to ask...

[snorkel sucker]

SWoll said:

snorkel sucker said:

After much waiting, we have today been given access to our Tusker site.

Have also received clarification that If you are in receipt of a car allowance you can use this to contribute/pay for a car under the Salary Sacrifice scheme. This is what I was expecting would be the case, despite hearing some people say otherwise, and definitely makes the scheme more viable.

A few examples based on 48 months/10k miles:

Hyundai Ioniq 5 Ultimate £402
Taycan (most basic model with zero options) £748
Mustang Mach e AWD £674
Tesla Model 3 SR+ £475
Audi e-tron GT quattro 93.4kWh £830
Jaguar I-PACE 90kWh 400 Black £546

Blimey, the Mustang is pricey? Ioniq 5 and iPace look decent value, Tesla expensive for an SR+, Taycan and Audi very expensive once you add spec but you still would.

Do those prices include your car allowance?

Agreed; I thought the Ioniq was not too bad given it's the top spec.

Those figures are inc. car allowance, yes - all the portal does is ask you for your salary, so I just added my car allowance to that to give an overall gross figure.

The smaller cars seem expensive - just looked at a Honda E advance; £342!