Salary sacrifice leasing
Discussion
Never had a new car before, tempted by Audi A3
TFSi-e, S-line with 17" wheels. 7% BiK. Looking like £368/month with 12k per annum, all insurance/maintenance etc.. 40% tax payer.
Having never leased before, do these figures look reasonable?
TFSi-e, S-line with 17" wheels. 7% BiK. Looking like £368/month with 12k per annum, all insurance/maintenance etc.. 40% tax payer.
Having never leased before, do these figures look reasonable?
Edited by Lee540 on Wednesday 22 December 18:03
Lee540 said:
Never had a new car before, tempted by Audi A3
TFSi-e, S-line with 17" wheels. 7% BiK. Looking like £368/month with 12k per annum, all insurance/maintenance etc.. 40% tax payer.
Having never leased before, do these figures look reasonable?
With a 6% higher BIK rate than full EVs, you'd be no worse off spending £430 a month on a full electric - and probably have some interesting options available for that money?TFSi-e, S-line with 17" wheels. 7% BiK. Looking like £368/month with 12k per annum, all insurance/maintenance etc.. 40% tax payer.
Having never leased before, do these figures look reasonable?
Edited by Lee540 on Wednesday 22 December 18:03
jinba-ittai said:
Lee540 said:
Never had a new car before, tempted by Audi A3
TFSi-e, S-line with 17" wheels. 7% BiK. Looking like £368/month with 12k per annum, all insurance/maintenance etc.. 40% tax payer.
Having never leased before, do these figures look reasonable?
With a 6% higher BIK rate than full EVs, you'd be no worse off spending £430 a month on a full electric - and probably have some interesting options available for that money?TFSi-e, S-line with 17" wheels. 7% BiK. Looking like £368/month with 12k per annum, all insurance/maintenance etc.. 40% tax payer.
Having never leased before, do these figures look reasonable?
Edited by Lee540 on Wednesday 22 December 18:03
Lee540 said:
jinba-ittai said:
Lee540 said:
Never had a new car before, tempted by Audi A3
TFSi-e, S-line with 17" wheels. 7% BiK. Looking like £368/month with 12k per annum, all insurance/maintenance etc.. 40% tax payer.
Having never leased before, do these figures look reasonable?
With a 6% higher BIK rate than full EVs, you'd be no worse off spending £430 a month on a full electric - and probably have some interesting options available for that money?TFSi-e, S-line with 17" wheels. 7% BiK. Looking like £368/month with 12k per annum, all insurance/maintenance etc.. 40% tax payer.
Having never leased before, do these figures look reasonable?
Edited by Lee540 on Wednesday 22 December 18:03
Perfect scenario would be if your office allowed you to charge there, that would save you's save a couple of hundred in fuel a month
Sorry, forgive what might have been answered before or seem a dull question but....
I am looking to get my employer to sign up to the Octopus EV salary sacrifice scheme (or possibly others like Tusker), mainly to help as part of employee benefits and part of a wider sustainability drive. We have around 1,500 staff, with no fleet of vehicles and staff claiming fuel expenses (45p a mile). It may be something that a handful take advantage of or possibly more.
Reading up on general EV salary sacrifice schemes it seems almost too good to be true for both employee and employer, so I wanted to try and understand the employer impact for signing up so I can sell it appropriately.
Do the likes of Octopus charge employers to use the scheme? Or impact wise will it be like managing the cycle to work scheme/childcare vouchers - where there is admin to having this setup?
I am going to contact Octopus to ask a few more details next week but wanted to try and get a better picture.
Thanks
I am looking to get my employer to sign up to the Octopus EV salary sacrifice scheme (or possibly others like Tusker), mainly to help as part of employee benefits and part of a wider sustainability drive. We have around 1,500 staff, with no fleet of vehicles and staff claiming fuel expenses (45p a mile). It may be something that a handful take advantage of or possibly more.
Reading up on general EV salary sacrifice schemes it seems almost too good to be true for both employee and employer, so I wanted to try and understand the employer impact for signing up so I can sell it appropriately.
Do the likes of Octopus charge employers to use the scheme? Or impact wise will it be like managing the cycle to work scheme/childcare vouchers - where there is admin to having this setup?
I am going to contact Octopus to ask a few more details next week but wanted to try and get a better picture.
Thanks
Lee540 said:
My regular driving distances put me off full EV, I need 250 miles each way to drive to my office, once a week. Going to the shops or whatever from home EV is perfect but for 15,000 miles or so a year, made up of 500 miles per day, 250 miles each way.
Tesla Model 3 would eat that up without much charging.Put the Tesla Model 3 Standard Range and Long Range into A Better Route Planner and you'll probably find it's surprisingly quick. As you'll be using public charging you might not save a whole load of money.
And it's less likely to work if you're doing it at bahn-storming speeds.
PushedDover said:
Just been looking at options -
Latest / Octopus salary sacrifice- Model Y available in February, White external, black interior - £377 salary sacrifice.
Playing the colours of outside and inside I can also get in Feb Red / White. Blue / White, or Black / Black.
moves the monthly by circa £30
Also on the radar has been
Skoda Enyaq iV 80 Suite
77kWh RWD
260 mile range
£315
Skoda ENYAQ iV 80x Sportline AWD
77kWh AWD
250 mile rang
£360
Audi e-tron Technik 55 quattro
86.5kWh AWD
225 mile range
£460
Porsche Taycan 4S Cross Turismo
84kWh AWD
250 mile range
£559
How on earth did you get these prices? My employer is looking to sign up to Octopus but looking on the website the Taycan 4s is over £800. I’m a 40% tax payer I’d have a Taycan for that price. Latest / Octopus salary sacrifice- Model Y available in February, White external, black interior - £377 salary sacrifice.
Playing the colours of outside and inside I can also get in Feb Red / White. Blue / White, or Black / Black.
moves the monthly by circa £30
Also on the radar has been
Skoda Enyaq iV 80 Suite
77kWh RWD
260 mile range
£315
Skoda ENYAQ iV 80x Sportline AWD
77kWh AWD
250 mile rang
£360
Audi e-tron Technik 55 quattro
86.5kWh AWD
225 mile range
£460
Porsche Taycan 4S Cross Turismo
84kWh AWD
250 mile range
£559
Stu-nph26 said:
How on earth did you get these prices? My employer is looking to sign up to Octopus but looking on the website the Taycan 4s is over £800. I’m a 40% tax payer I’d have a Taycan for that price.
If not signed up to Octopus yet and basing just on the online quotes, then what i have found is that the net pay element (so salary reduction) may be less depending on pension contributions. As these will drop with salary sacrifice, further savings on the online quotes can be had given personal circumstances. I am due to discuss details with Octopus next week though so will check if that is correct!jimmy_wrxsti said:
Stu-nph26 said:
How on earth did you get these prices? My employer is looking to sign up to Octopus but looking on the website the Taycan 4s is over £800. I’m a 40% tax payer I’d have a Taycan for that price.
If not signed up to Octopus yet and basing just on the online quotes, then what i have found is that the net pay element (so salary reduction) may be less depending on pension contributions. As these will drop with salary sacrifice, further savings on the online quotes can be had given personal circumstances. I am due to discuss details with Octopus next week though so will check if that is correct!Stu-nph26 said:
How does this work with pension contributions? I’m guessing that’ll mean my company pay less into my pension?
It depends on each individual and their pensions but for mine it means me paying less (as salary technically less) and also the employer paying less.I found this a good calculator when looking https://www.drivesmart.co.uk/salary-sacrifice-calc...
Stu-nph26 said:
How on earth did you get these prices? My employer is looking to sign up to Octopus but looking on the website the Taycan 4s is over £800. I’m a 40% tax payer I’d have a Taycan for that price.
Just punched in the numbers - I do feel it is also about what Octopus can leverage at their end on purchasing power.
Ive gone with a Tesla Y to get delivered early Feb.
As fab as the Taycan CT was, I suspect the poverty spec needed one or two things (pano roof for me, but I note that the wing mirrors dont even fold as standard) that would soon push the numbers - but the 52 week wait was a killer too.
Maybe next time/ 3 yrs.
SWoll said:
Porsche can sell every Taycan CT they build many times over so won't be offering any discounts for bulk I'd suggest.
Out of interest what are the terms, 3 years/30k miles?
Yes just that - 3y / 30k.Out of interest what are the terms, 3 years/30k miles?
Insurance / maintenance/ tyres etc
Home charger + installation thrown in
Octopus also say 8,000 free miles year one but that translates to £100 of charging electricity - so SFA in reality
Usefully they are making a scheme (forget name) where they will give an account that covers all of the different charging companies billing and account under one umbrella
PushedDover said:
SWoll said:
Porsche can sell every Taycan CT they build many times over so won't be offering any discounts for bulk I'd suggest.
Out of interest what are the terms, 3 years/30k miles?
Yes just that - 3y / 30k.Out of interest what are the terms, 3 years/30k miles?
Insurance / maintenance/ tyres etc
Home charger + installation thrown in
Octopus also say 8,000 free miles year one but that translates to £100 of charging electricity - so SFA in reality
Usefully they are making a scheme (forget name) where they will give an account that covers all of the different charging companies billing and account under one umbrella
I'd have bitten their bloody hand off and happily waited 12 months.
SWoll said:
PushedDover said:
SWoll said:
Porsche can sell every Taycan CT they build many times over so won't be offering any discounts for bulk I'd suggest.
Out of interest what are the terms, 3 years/30k miles?
Yes just that - 3y / 30k.Out of interest what are the terms, 3 years/30k miles?
Insurance / maintenance/ tyres etc
Home charger + installation thrown in
Octopus also say 8,000 free miles year one but that translates to £100 of charging electricity - so SFA in reality
Usefully they are making a scheme (forget name) where they will give an account that covers all of the different charging companies billing and account under one umbrella
I'd have bitten their bloody hand off and happily waited 12 months.
Alternatively I can more or less get two ModelY's for the same price. My scheme allows me to have two cars oddly enough.
PushedDover said:
SWoll said:
Porsche can sell every Taycan CT they build many times over so won't be offering any discounts for bulk I'd suggest.
Out of interest what are the terms, 3 years/30k miles?
Yes just that - 3y / 30k.Out of interest what are the terms, 3 years/30k miles?
Insurance / maintenance/ tyres etc
Home charger + installation thrown in
Octopus also say 8,000 free miles year one but that translates to £100 of charging electricity - so SFA in reality
Usefully they are making a scheme (forget name) where they will give an account that covers all of the different charging companies billing and account under one umbrella
ZiggyNiva said:
I'd be interested in a model y at that price. You don't happen to have a price for a model x do you? My company is also in the process of signing up and like the other poster I have only seen the prices on octopuses website so far. I'm assuming when you say Feb delivery you do mean 2022. I may have to do an informal extension on the wrangler until I know what can be offered.
No X's (and my understanding is they are rocking horse poo on the whole anyway)A quick screen grab from the openly available website : https://www.octopusev.com/cars
YMMV etc as said I am am about £400pm
I have to say despite the seemingly good rates I've been offered - and now signed up to on the Tesla Y, the Octopus EV team are not spectacular in service.
The sales chap I spoke to (as the powerfully built company guinea pig from our Co) was great in walking me through options and the pricing, but since signing (20/12/21), and despite mailing etc, the Operations Team as he called the dept that takes it forward after sales, they have been absent and frustrating.
I am wanting some direction in the delivery dates so I can arrange cars at my end / selling etc, we need the info on the charger installation location & practicalities of installation and tariffs / account for Octopus Energy.
Maybe I am OCD / eager, but we are expecting delivery in 30 days and nothing has been sent or shared with us on any of the above.
If a standard ICE was being ordered perhaps I'd be less bothered, but such is the nature of the future of cars, specifically BEV's, and the intrinsic nature of the infrastructure required the move to EV is difficult to start with. Octopus' offer is to manage and make this easy. But so far. Nothing suggests how.
I have emailed and tried calling - but silence.
The sales chap I spoke to (as the powerfully built company guinea pig from our Co) was great in walking me through options and the pricing, but since signing (20/12/21), and despite mailing etc, the Operations Team as he called the dept that takes it forward after sales, they have been absent and frustrating.
I am wanting some direction in the delivery dates so I can arrange cars at my end / selling etc, we need the info on the charger installation location & practicalities of installation and tariffs / account for Octopus Energy.
Maybe I am OCD / eager, but we are expecting delivery in 30 days and nothing has been sent or shared with us on any of the above.
If a standard ICE was being ordered perhaps I'd be less bothered, but such is the nature of the future of cars, specifically BEV's, and the intrinsic nature of the infrastructure required the move to EV is difficult to start with. Octopus' offer is to manage and make this easy. But so far. Nothing suggests how.
I have emailed and tried calling - but silence.
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