Salary sacrifice leasing

Author
Discussion

Pistonheadsdicoverer

226 posts

47 months

Sunday 10th March
quotequote all
essayer said:
Tesla 3 RWD
£829 gross

Personal lease £576 (3 years, 10k, 1 month deposit)

Why is the SS lease 50% more expensive?
Who is this one with?

Pistonheadsdicoverer

226 posts

47 months

Sunday 10th March
quotequote all
ahenners said:
Model Y RWD showing as 829 gross or 511 net (40% taxpayer) for me on a 12k pa 36 month.

Model Y LR showing as 926 or 573 net for same terms.

What pricing are people seeing on other schemes? The net figures fully insured and maintained didn't seem that bad to me but don't have a comparison.
What is your Tusker account showing for

Mercedes-Benz EQB 350 4MATIC SUV 0.0Elec 66.5kWh 292 AMG Line Premium Plus Auto

48 months, 5000 miles.

Thanks in advance! I may give Tusker a call.

zed0070

15 posts

8 months

Sunday 10th March
quotequote all
I recently ordered Hyundai Kona via Octopus

I think it was around £773 gross and £485 net

2 years, 5000 miles per year

Pistonheadsdicoverer

226 posts

47 months

Sunday 10th March
quotequote all
Similar to Tusker

Monthly gross reduction:£786
Income Tax saving:-£315
National Insurance saving:-£16
Benefit in Kind:+£23
Effect on take home pay:£479

ahenners

599 posts

127 months

Monday 11th March
quotequote all
Pistonheadsdicoverer said:
What is your Tusker account showing for

Mercedes-Benz EQB 350 4MATIC SUV 0.0Elec 66.5kWh 292 AMG Line Premium Plus Auto

48 months, 5000 miles.

Thanks in advance! I may give Tusker a call.
Lowest I can go is 7.5k but on a 48 it's 757 gross.

James6112

4,493 posts

29 months

Monday 11th March
quotequote all
Tesla Y lease , 10k miles, 36 months
£270 a month

(not actually. But that is what it would cost to lease from Tesla - tax & NI, the intended spirit)


SS is therefore a scam. The middlemen are pocketing a lot of cash for nothing.

They should cut them out, let you lease directly & take off the tax & NI.

Maybe i’ll write to my next MP!

Edited by James6112 on Monday 11th March 20:38

pghstochaj

2,420 posts

120 months

Monday 11th March
quotequote all
James6112 said:
Tesla Y lease , 10k miles, 36 months
£270 a month

(not actually. But that is what it would cost to lease from Tesla - tax & NI, the intended spirit)


SS is therefore a scam. The middlemen are pocketing a lot of cash for nothing.

They should cut them out, let you lease directly & take off the tax & NI.

Maybe i’ll write to my next MP!

Edited by James6112 on Monday 11th March 20:38
Or just get your business to sign up with a company that just treats it as a business lease. Downsides are you pay for insurance (although that has an upside) and have to have a company arrangement for how to deal with what happens if somebody leaves.

Gross for me for those terms including maintenance is £516.

The figures on here are always eye watering.


charltjr

191 posts

10 months

Monday 11th March
quotequote all
EVLATECOMER said:
The issue with salary sacrifice as an ex leasing industry bod was the baked in cost of extras.
Indeed, but they can do good deals. If they can’t manage to get Tesla to give them fleet discount then no-one is going to get a Tesla through them becuase it just looks like a ripoff.

My i4 through Tusker was a good deal overall. If your numbers are accurate then Tusker are paying BMW about £500 a month for it, so fair play to them on landing that deal biggrin

rugbyleague

265 posts

77 months

Tuesday 12th March
quotequote all
I've got a Genesis Gv60 through salary sacrifice, a hidden benefit (well to me anyway....) is that its brought my salary under the tax threshold where you start to lose personal tax allowance.

If the scheme is still available when current lease finishes then I'm going to need to consider this benefit as well as usual considerations.

Bryans69

250 posts

133 months

Tuesday 12th March
quotequote all
pghstochaj said:
James6112 said:
Tesla Y lease , 10k miles, 36 months
£270 a month

(not actually. But that is what it would cost to lease from Tesla - tax & NI, the intended spirit)


SS is therefore a scam. The middlemen are pocketing a lot of cash for nothing.

They should cut them out, let you lease directly & take off the tax & NI.

Maybe i’ll write to my next MP!

Edited by James6112 on Monday 11th March 20:38
Or just get your business to sign up with a company that just treats it as a business lease. Downsides are you pay for insurance (although that has an upside) and have to have a company arrangement for how to deal with what happens if somebody leaves.

Gross for me for those terms including maintenance is £516.

The figures on here are always eye watering.
Exactly. Your company can lease direct and handle everything internally. And there are companies that offer 'Gap/Leaver Insurance' to cover when someone leaves. Quote I had was less than 15% of monthlies. There is no requirement to go to a 'Salary Sacrifice' company.

Problem for many businesses is it's just a hassle, so they outsource to someone like Octopus or Tusker, who do seem to cream a lot off. I do wonder if their prices are self defeating, as quotes I've seen on here and online direct just don't make sense to go that route for many.

mthack05

2 posts

2 months

Tuesday 12th March
quotequote all
Pistonheadsdicoverer said:
What is your Tusker account showing for

Mercedes-Benz EQB 350 4MATIC SUV 0.0Elec 66.5kWh 292 AMG Line Premium Plus Auto

48 months, 5000 miles.

Thanks in advance! I may give Tusker a call.
Tusker Mercedes-Benz EQB 350 4MATIC SUV 0.0Elec 66.5kWh 292 AMG Line Premium Plus Auto -
£736 gross 48mnths/5k
£750 gross 36mnths / 5k

Terry Winks

1,229 posts

14 months

Tuesday 12th March
quotequote all
I can't wait to see the Macan EV prices, apparently they are absolutely daft.

Basil Brush

5,099 posts

264 months

Tuesday 12th March
quotequote all
rugbyleague said:
I've got a Genesis Gv60 through salary sacrifice, a hidden benefit (well to me anyway....) is that its brought my salary under the tax threshold where you start to lose personal tax allowance.

If the scheme is still available when current lease finishes then I'm going to need to consider this benefit as well as usual considerations.
You could just do that with a pension though and keep all the money.

rugbyleague

265 posts

77 months

Tuesday 12th March
quotequote all
Basil Brush said:
You could just do that with a pension though and keep all the money.
True, or even a new push bike through the bike to work scheme....choices choices put money in a pension but might not see it or splash out on a car......

I'm lucky my pension is very well covered

Cupid-stunt

2,610 posts

57 months

Tuesday 12th March
quotequote all
rugbyleague said:
Basil Brush said:
You could just do that with a pension though and keep all the money.
True, or even a new push bike through the bike to work scheme....choices choices put money in a pension but might not see it or splash out on a car......

I'm lucky my pension is very well covered
I am in a similar position - that punative tax threshold is even more valuable to avoid!!

Basil Brush

5,099 posts

264 months

Tuesday 12th March
quotequote all
Cupid-stunt said:
rugbyleague said:
Basil Brush said:
You could just do that with a pension though and keep all the money.
True, or even a new push bike through the bike to work scheme....choices choices put money in a pension but might not see it or splash out on a car......

I'm lucky my pension is very well covered
I am in a similar position - that punative tax threshold is even more valuable to avoid!!
Me too with 2 young kids so have been managing it for a few years to keep the 30 hours nursery and tax free account.

I've ended up buying a used Polestar 2 and using my pension to recover enough tax to offset the cost. Paying £800+ a month to lease the same car through SS didn't make sense for me.

Paulog13

138 posts

168 months

Monday 18th March
quotequote all
Does anyone have any experience of the Lexus RZ?

I can get one on salary sacrifice which works out at approximately £480.00 per month after tax on a 2 year, 10K miles per year.

I have had great experience with Lexus hybrid’s in the past but don’t have any experience of their full electric offerings.

Thanks….

nufcfan

105 posts

164 months

Thursday 21st March
quotequote all
Just got access to Tusker through work. Where is the value at the moment? Looking at a mid to larger size SUV ideally with 4 wheel drive. 8k PA would be fine.

EQB looks to be about the best currently?

df76

3,651 posts

279 months

Thursday 21st March
quotequote all
nufcfan said:
Just got access to Tusker through work. Where is the value at the moment? Looking at a mid to larger size SUV ideally with 4 wheel drive. 8k PA would be fine.

EQB looks to be about the best currently?
I would focus on the "in stock / coming soon" cars, that usually where the best savings can be found.

Pistonheadsdicoverer

226 posts

47 months

Thursday 21st March
quotequote all
nufcfan said:
Just got access to Tusker through work. Where is the value at the moment? Looking at a mid to larger size SUV ideally with 4 wheel drive. 8k PA would be fine.

EQB looks to be about the best currently?
i had eqb 350 premium plus 4 years 5000 for 534 per month.

62K P11D.