Salary sacrifice leasing
Discussion
z4RRSchris said:
It does save me money, and judging by the amount of EVs around me in mayfair, everyone is using them.
It saves people money if they are on £100k+ (or the points where you start to lose your TFA).If you're in Mayfair, then that would be why. It has effectively become what a lot of things do - a tax break for people in the top 3% of incomes who can already afford stuff, not some great scheme for the general working population
Thread prompted me to jump through the hoops of registering for our SS scheme (SG Fleet) to see the fabulous savings...
2 years / 20,000 miles
Maintenance
No insurance
Taycan Sport Turismo RWD
Gross £2,640
Net £1,481
P11D £87,300
Tesla M3 RWD
Gross £1,013
Net £575
P11D £39,935
Don't know what I was expecting but those feel very punchy.
2 years / 20,000 miles
Maintenance
No insurance
Taycan Sport Turismo RWD
Gross £2,640
Net £1,481
P11D £87,300
Tesla M3 RWD
Gross £1,013
Net £575
P11D £39,935
Don't know what I was expecting but those feel very punchy.
QuartzDad said:
Thread prompted me to jump through the hoops of registering for our SS scheme (SG Fleet) to see the fabulous savings...
2 years / 20,000 miles
Maintenance
No insurance
Taycan Sport Turismo RWD
Gross £2,640
Net £1,481
P11D £87,300
Tesla M3 RWD
Gross £1,013
Net £575
P11D £39,935
Don't know what I was expecting but those feel very punchy.
Yeah pricey. Just a thought....20k, will you need maint? Can you opt out?2 years / 20,000 miles
Maintenance
No insurance
Taycan Sport Turismo RWD
Gross £2,640
Net £1,481
P11D £87,300
Tesla M3 RWD
Gross £1,013
Net £575
P11D £39,935
Don't know what I was expecting but those feel very punchy.
QuartzDad said:
Thread prompted me to jump through the hoops of registering for our SS scheme (SG Fleet) to see the fabulous savings...
2 years / 20,000 miles
Maintenance
No insurance
Taycan Sport Turismo RWD
Gross £2,640
Net £1,481
P11D £87,300
Tesla M3 RWD
Gross £1,013
Net £575
P11D £39,935
Don't know what I was expecting but those feel very punchy.
£2640 a month gross for a base spec Taycan ST RWD without any options? :eek2 years / 20,000 miles
Maintenance
No insurance
Taycan Sport Turismo RWD
Gross £2,640
Net £1,481
P11D £87,300
Tesla M3 RWD
Gross £1,013
Net £575
P11D £39,935
Don't know what I was expecting but those feel very punchy.
Current lease prices are nuts, back in 2019 we had a Model 3 Performance for 2 years and 25k miles from on.to on a month to month full maintained and insured contract for £799. Just looked and a personal lease on the same car today would cost almost £2k a month with no maint/insurance. £47k over 2 years for a car that costs £60k. Bonkers pricing whether you're saving a few £ with SS or not IMHO.
TheDrownedApe said:
Yeah pricey. Just a thought....20k, will you need maint? Can you opt out?
Doesn't look like it, only options are insurance and/or debt waiver (covers the first 12k of fees if you had it back due to death, disability or redundancy).On the Taycan adding insurance is an extra £150 a month gross and debt waiver is an extra £100 a month gross.
Can someone sense check me here please 
We need a car, my wife has access to tusker. Prices generally look pretty rough and nothing really standing out as decent deal.
However.
Tusker will do an i4 m50 so as far as ev looks quite exciting.
iirc gross is something like 1100 and effect on take home is 700 ish
so 700 a month for a car. sounds like too much and more than i would like her/us to do.
That is until you consider whats included:
insured, no road tax, all service and maintenance ( i can only assume that means things like brakes?) tyres included.
We also have solar panels so with some sensible charging it should be very very cheap to run.
So suddenly its not looking bad.
Say we went and bought a 30k car (was looking at velar for example)
2.5k down
330 ish a month
car would need to be insured at say 100 a month maybe a bit more
tax? 30?
fuel? 150-200 a month.
services over 4 years? got to be £50 a month average
repairs? say £25 a month assuming nothing major goes wrong.
tyres? say £20 a month average
so a 6 year old car with maybe 30-50k on the clock which might well need expensive maintenance might average at £700 a month
exactly the same as a brand new i4.
I know i am not including fueling the i4 but with the mileage we do id be surprised if the solar didn't power it.
What am i missing?
We need a car, my wife has access to tusker. Prices generally look pretty rough and nothing really standing out as decent deal.
However.
Tusker will do an i4 m50 so as far as ev looks quite exciting.
iirc gross is something like 1100 and effect on take home is 700 ish
so 700 a month for a car. sounds like too much and more than i would like her/us to do.
That is until you consider whats included:
insured, no road tax, all service and maintenance ( i can only assume that means things like brakes?) tyres included.
We also have solar panels so with some sensible charging it should be very very cheap to run.
So suddenly its not looking bad.
Say we went and bought a 30k car (was looking at velar for example)
2.5k down
330 ish a month
car would need to be insured at say 100 a month maybe a bit more
tax? 30?
fuel? 150-200 a month.
services over 4 years? got to be £50 a month average
repairs? say £25 a month assuming nothing major goes wrong.
tyres? say £20 a month average
so a 6 year old car with maybe 30-50k on the clock which might well need expensive maintenance might average at £700 a month
exactly the same as a brand new i4.
I know i am not including fueling the i4 but with the mileage we do id be surprised if the solar didn't power it.
What am i missing?
Edited by m3jappa on Friday 12th April 07:36
TheDrownedApe said:
Resale value of the Velar.
This, although the potential bork factor of running a 4 year old Velar for another 4 years does also need to be considered.I'd also add that if comparing a £30k outright purchase to SS, then why not a 2 year old etron 55 or iPace? Many of the benefits of the SS EV (no tax, low running costs) and considerably newer than the Velar so will have plenty of warranty left?
m3jappa said:
Those figures are pcp with a balloon…..a balloon which is imo more than the car will be worth so you’d just be handing it back.
The example of instead comparing PCP'ing a 2 year old EV like an iPace still holds true.A bit more expensive per month than the Velar on the same terms, but 4 years younger and under warranty, much better performance, has all the low running costs benefits of the i4 and is considerably cheaper per month.
That i4 M50 deal is very good though BTW. £1100 gross doesn't get you much on SS these days an you'd be paying £1k a month to lease one over 4 years.
Tractor Driver said:
A colleague has just ordered a Merc EQB on Tusker. Apparently it was one of their ‘special offers’ and the numbers weren’t too bad.
Feels with SS like you need to chase the deal and not the specific car in order to get tolerable value for money.
Indeed, with the £700 a month deal on an i4 M50 for a 40% tax payer being a perfect example. In the current market I'd be very tempted when comparing it to some of the other figures I've seen throw around on here recently. Feels with SS like you need to chase the deal and not the specific car in order to get tolerable value for money.
Edited by SWoll on Friday 12th April 09:34
Been looking at Zenith for the i4 40 M Sport Pro and that comes back at £704 net (inc. insurance and maintenance, 3yr/10K) but can’t help but think this is quite steep for Salary Sacrifice.
iX3 M Sport Pro @ £865 net.
Q4 55 S Line @ £685 net.
Tesla Model Y Performance @ £996 net.
Taycaan 300kw @ £1,436 net.
How are these comparing with Arval/ Tusker?
EQCs are going cheap on Leaseloco but have disappeared off Zenith.
iX3 M Sport Pro @ £865 net.
Q4 55 S Line @ £685 net.
Tesla Model Y Performance @ £996 net.
Taycaan 300kw @ £1,436 net.
How are these comparing with Arval/ Tusker?
EQCs are going cheap on Leaseloco but have disappeared off Zenith.
Cabyo said:
Been looking at Zenith for the i4 40 M Sport Pro and that comes back at £704 net (inc. insurance and maintenance, 3yr/10K) but can’t help but think this is quite steep for Salary Sacrifice.
iX3 M Sport Pro @ £865 net.
Q4 55 S Line @ £685 net.
Tesla Model Y Performance @ £996 net.
Taycaan 300kw @ £1,436 net.
How are these comparing with Arval/ Tusker?
EQCs are going cheap on Leaseloco but have disappeared off Zenith.
Mercedes no longer make the EQC, got dropped last year so will all be pre-registered 73 plate cars. Some decet PCP deals to be had on them at the minute as an alternative to SS if interested.iX3 M Sport Pro @ £865 net.
Q4 55 S Line @ £685 net.
Tesla Model Y Performance @ £996 net.
Taycaan 300kw @ £1,436 net.
How are these comparing with Arval/ Tusker?
EQCs are going cheap on Leaseloco but have disappeared off Zenith.
3 years, 30k miles, no deposit.
Edited by SWoll on Friday 12th April 19:37
cj2013 said:
My issue is more that the lease companies have successful (I assume) models based on this, and yet the SalSac stuff claims to save you "upto 40%" on those.
But it doesn't. It's just the same model with - if anything - a very minor [i]net[/] saving. The extra £££ they make from the gross is not representing anything like a 'cycle-to-work' type SalSac saving at all.
I don't particularly like the idea that my SalSac is simply propping up a really badly run lease company (in that the extra pre-tax cash makes up for their inability to make a profit from procurement deals or otherwise)
If you want to know how successful SS is for Tusker, just have a look at their accounts. They’ve making an absolute fortune.But it doesn't. It's just the same model with - if anything - a very minor [i]net[/] saving. The extra £££ they make from the gross is not representing anything like a 'cycle-to-work' type SalSac saving at all.
I don't particularly like the idea that my SalSac is simply propping up a really badly run lease company (in that the extra pre-tax cash makes up for their inability to make a profit from procurement deals or otherwise)
Sheepshanks said:
If you want to know how successful SS is for Tusker, just have a look at their accounts. They’ve making an absolute fortune.
Indeed. £65m gross profit in 2022 from £217m of revenue.Lloyds bought them in Feb last year for £300m, just before EV values went through the floor and SS gross rates got hiked through the roof.
Thanks for the comment re the m50. it does seem i have not completely lost it
I have been messing around playing with some numbers and it really does seem a no brainer and compared to almost everything else on there looks good.
We are in a slightly unusual situation that where we have solar panels and don't do mega mileage (lots of short trips) i think it ill cost next to nothing to fuel the thing.
That alone is a huge part of running a ice car.
Even when i look at buying something outright for say 10k i look at the insurance, road tax, fuel and its already at half the monthly payment on this (granted you own the 10k car).
But look at what 10k gets you nowadays? Plus over the years i have had too many bad experiences buying second hand cars with some mileage on them, all of a sudden 'you need a water pump' or 'you need new injectors' etc etc. in fact those experiences led us to our first lease/finance car a few years ago. The actual cost of ownership isn't a lot more necessarily and on the plus side you get a brand new nice car to use worry free.
Only issue is a 35 week lead time.......not sure how ill get round that one.
I have been messing around playing with some numbers and it really does seem a no brainer and compared to almost everything else on there looks good.
We are in a slightly unusual situation that where we have solar panels and don't do mega mileage (lots of short trips) i think it ill cost next to nothing to fuel the thing.
That alone is a huge part of running a ice car.
Even when i look at buying something outright for say 10k i look at the insurance, road tax, fuel and its already at half the monthly payment on this (granted you own the 10k car).
But look at what 10k gets you nowadays? Plus over the years i have had too many bad experiences buying second hand cars with some mileage on them, all of a sudden 'you need a water pump' or 'you need new injectors' etc etc. in fact those experiences led us to our first lease/finance car a few years ago. The actual cost of ownership isn't a lot more necessarily and on the plus side you get a brand new nice car to use worry free.
Only issue is a 35 week lead time.......not sure how ill get round that one.
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