Salary sacrifice leasing

[ahenners]

With the changes to child benefit rules announced yesterday, now thinking of doing an EV SS lease. We have 3 young children.

Is my understanding correct that an SS EV gross sacrifice counts towards your adjusted pay for determining child benefit eligibility, with BIK added back on?

[mthack05]

Hello, first post

my company has just gone live with Tusker and there seem to be reasonable deals on Mercedes EQB but really wanted a Tesla MY

20% tax payer

Tesla Model Y AWD LR with added 20 inch alloys p11d £55k - £953 gross (48 months / 10k miles)

Mustang Mach-E AWD Premium 351 p11d £65k - £869 gross ( has gone up in price this week from my original saved quote) (42 months / 10k miles)

Mercedes EQB 350 4 Matic AMG Premium p11d of £59.8k - £774 gross (seems a decent deal) (36 months / 10k miles)

I don't understand how a car with a p11d of £10+ over the tesla is nearly £100 gross cheaper, even worse when looking at the EQB +£5k p11d and coming in near £200 cheaper and less time of lease.

EQB range seems poor and the 7 seats / boot has put me off and the Mach-E was smaller than i'd hoped when I sat in it. Tesla range, power, boot space real selling point for me

All cars configured and not from the in stock/coming soon bit*




I understand they will have deals etc but was really hoping the model Y wouldve been closer to the EQB in price


Anyone who's had tusker or an alternative scheme, how do these prices compare to what you've seen over the past year or so?


Cheers

Edited by mthack05 on Thursday 7th March 10:35

[TheDrownedApe]

mthack05 said:

Hello, first post

my company has just gone live with Tusker and there seem to be reasonable deals on Mercedes EQB but really wanted a Tesla MY

20% tax payer

Tesla Model Y AWD LR with added 20 inch alloys p11d £55k - £953 gross (48 months / 10k miles)

Mustang Mach-E AWD Premium 351 p11d £65k - £869 gross ( has gone up in price this week from my original saved quote) (42 months / 10k miles)

Mercedes EQB 350 4 Matic AMG Premium p11d of £59.8k - £774 gross (seems a decent deal) (36 months / 10k miles)

I don't understand how a car with a p11d of £10+ over the tesla is nearly £100 gross cheaper, even worse when looking at the EQB +£5k p11d and coming in near £200 cheaper and less time of lease.

E
Anyone who's had tusker or an alternative scheme, how do these prices compare to what you've seen over the past year or so?

did 36/10k for ease of comparison on my scheme Novuna

Tesla Model Y AWD LR - £1282 gross

Mustang Mach-E AWD Premium - £1171

Mercedes EQB 350 4 Matic AMG Premium - £1077

Most prices stay broadly similar throughout the year on my, crappy, scheme

[z4RRSchris]

if your only paying 20% tax its not worth it sadly.

[snorkel sucker]

ahenners said:

With the changes to child benefit rules announced yesterday, now thinking of doing an EV SS lease. We have 3 young children.

Is my understanding correct that an SS EV gross sacrifice counts towards your adjusted pay for determining child benefit eligibility, with BIK added back on?

I'm thinking of going down the SS EV route now also given this weeks budget changes.

My understanding is the same as yours from doing some Google searching; you take the gross amount and subtract that from your salary and then add back in the BIK.

MG4 X Power is currently looking favourable as a balance of price / performance.

[Shackattack123]

z4RRSchris said:

if your only paying 20% tax its not worth it sadly.

Depends on what you're coming from, if you had an expensive lease previously then it can still be good value, additionally if you're taking into account higher insurance costs etc

[Pistonheadsdicoverer]

mthack05 said:

Hello, first post

my company has just gone live with Tusker and there seem to be reasonable deals on Mercedes EQB but really wanted a Tesla MY

20% tax payer

Tesla Model Y AWD LR with added 20 inch alloys p11d £55k - £953 gross (48 months / 10k miles)

Mustang Mach-E AWD Premium 351 p11d £65k - £869 gross ( has gone up in price this week from my original saved quote) (42 months / 10k miles)

Mercedes EQB 350 4 Matic AMG Premium p11d of £59.8k - £774 gross (seems a decent deal) (36 months / 10k miles)

I don't understand how a car with a p11d of £10+ over the tesla is nearly £100 gross cheaper, even worse when looking at the EQB +£5k p11d and coming in near £200 cheaper and less time of lease.

EQB range seems poor and the 7 seats / boot has put me off and the Mach-E was smaller than i'd hoped when I sat in it. Tesla range, power, boot space real selling point for me

All cars configured and not from the in stock/coming soon bit*




I understand they will have deals etc but was really hoping the model Y wouldve been closer to the EQB in price


Anyone who's had tusker or an alternative scheme, how do these prices compare to what you've seen over the past year or so?


Cheers

Edited by mthack05 on Thursday 7th March 10:35

Does your company name start with F? Mine just joined as well.
I am looking at the Premium Plus auto, 5K, 48 months, was 517 a few days ago now 534 (848 gross)
You can save a quote and they will honor the price.
Prices have gone up since beg of March. Which is a shame.

I asked Tusker (over the phone) why some cars are so cheap and others so expensive (e.g. MG is as expensive as MB).
They told me it depends on the discount they get from the manufacturers.


You can get the Model Y off normal leasing for 505
https://leasing.com/car-leasing/tesla/model-y/?ter...
From Tesla direct, that's about 513 per month average.

Edited by Pistonheadsdicoverer on Friday 8th March 13:52

[charltjr]

Tusker are awful for Tesla pricing, have never seen them be vaguely competitive.

[Pistonheadsdicoverer]

I wonder whether the new price rises aren't due to the recent budget.

"From April 2025, VED rates will be equalised across all cars, while new registrations priced over £40,000 will also qualify for the expensive car supplement - a £410 charge, applied to the first five annual renewals "In some cases, this will mean drivers are paying three times more tax than they would for an equivalent petrol or diesel car, adding over £1,000 to a three-year lease contract.

Saw this on Express

[Westarmy]

Hi all,

I currently have SS available through Lex Autolease, the downside is that I would need to generate quotes on vehicles and it's such a tedious process. And most of the times the overall price doesn't reflect the monthlies.

How would I be able to find decent deals? Is there like a list of EVs to look into?

As an example an i4 can be £500pm but a Peugeot be £800pm?

[ahenners]

charltjr said:

Tusker are awful for Tesla pricing, have never seen them be vaguely competitive.

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.

[charltjr]

You can lease the model Y RWD direct from Tesla for £560 per month on 15k miles a year. It’s a 9+35 at 458pcm which amortises out to £560 pcm. Insurance and maintenance would be on top but still, it’s outrageous price gouging from Tusker.

[ahenners]

charltjr said:

You can lease the model Y RWD direct from Tesla for £560 per month on 15k miles a year. It’s a 9+35 at 458pcm which amortises out to £560 pcm. Insurance and maintenance would be on top but still, it’s outrageous price gouging from Tusker.

I agree they are clearly trousering a fair bit on these with the gross amounts, but sounds like this is more about the gross numbers which to me do not matter rather than it being cheaper net somewhere other than tusker?

[EVLATECOMER]

charltjr said:

You can lease the model Y RWD direct from Tesla for £560 per month on 15k miles a year. It’s a 9+35 at 458pcm which amortises out to £560 pcm. Insurance and maintenance would be on top but still, it’s outrageous price gouging from Tusker.

The issue with salary sacrifice as an ex leasing industry bod was the baked in cost of extras.

The market has probably moved on a bit but let’s say their lease cost is similar to the Tesla captive finance house.

The gross cost monthly cost would like something like this:

Finance rental lease £467
Unrecoverable VAT £46.70
Maintenance £50

Fully comp insurance £100 to £200
Early termination insurance £150 to £200

“Free” home charger £35

Yes the insurances are the main element of what everyone on here calls price gouging, they’re based on doomsday scenarios of young drivers getting £50k plus high performance cars with high repair costs.

Then you have the employer early termination insurance so your employer has almost no risk if you up and leave or they let you go. I know some schemes have employees on the hook.

Then you have people comparing their net cost vs pch.

A key benefit of sal sac was and is no credit check and no upfront deposit.

Of course many here are stair dominating directors with triple A credit ratings and 40 years no claims bonus with an FIA super licence. So insurance will be £300 fully comp on a £90k 400 bhp BMW iX and a set of tyres will go 40k no issue so maintenance would be about £2 a week.

[ghibbett]

EVLATECOMER said:

Of course many here are stair dominating directors with triple A credit ratings and 40 years no claims bonus with an FIA super licence. So insurance will be £300 fully comp on a £90k 400 bhp BMW iX and a set of tyres will go 40k no issue so maintenance would be about £2 a week.

Don't forget, they also spend their weekends towing caravans for 800 miles non-stop uphill.

[Pistonheadsdicoverer]

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.

Tusker showing 602 for me.

Monthly gross reduction:£986
Income Tax saving:-£395
National Insurance saving:-£20
Benefit in Kind:+£30
Effect on take home pay:£602

12.5K, 36 month

Tesla Model Y
SUV 5Dr RWD 0.0Electric 346 Auto

[essayer]

Tesla 3 RWD
£829 gross

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

Why is the SS lease 50% more expensive?

[James6112]

essayer said:

Tesla 3 RWD
£829 gross

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

Why is the SS lease 50% more expensive?

Insurance
Maintenance
Lease companies add no value, but are the main beneficiaries.

[EVLATECOMER]

essayer said:

Tesla 3 RWD
£829 gross

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

Why is the SS lease 50% more expensive?

Read my post 2 above yours

[essayer]

Early termination insurance £150-200 per month per vehicle?