Salary sacrifice leasing

[stargazer30]

Blue Oval84 said:

We're getting salary sacrifice via Tusker at my workplace next month.

Dropping the BIK will knock about £100 off the cost of a Model 3 but not sure what it's going to wind up costing us. I think I could do the "man maths" for up to about £450 per month, but over that I'd have to stick with my current car.

Can't wait to have a look around in the website when I get my hands on a log in.

I think we may work for the same company, did yours throw a ton of £££ at a certain football club recently ?

[Basil Brush]

jimmy_wrxsti said:

SWoll said:

That's not what he said though is it? He's not leasing at all as has decided that despite the saving SS brings it isn't enough for him to make the jump where he had hoped it would be.

It does amuse me how many people are jumping in to defend the profiteering that is going on. Of course there are additional costs to consider over and above that of a personal lease, but as there is already margin baked into that deal do you really think the huge jump we are seeing is justified? £10k over 3 years on the most popular EV (Model Y) does seem a hell of a lot for insurance, maintenance etc. no?

Again, not suggesting for a second that anyone shouldn't sign up as some kind of moral stand, just an observation.

Sorry but disagree with you here given the post I replied to, they said "As said it would be cheaper but, because the supplier we use is effectively halving the saving I should make, I decided it wasn't worth it for me". So IMO it is what he said in that instance.

I haven't seen anyone defending profiteering, also remember that most of these salary sacrifice scheme providers are not the leasing company so any profit baked into the lease deal element isnt captured by SS providers in the main.

Like my previous post in here, the cost to the employee depends on a lot of things not just the SS provider. One area I do think is potentially not right is that some employers can potentially setup a SS scheme so they save money (on NI and pension contributions) as not passed onto employees. Then employees are paying the full leasing cost as well as the on-costs (insurance, supplier fees, early termination insurance, servicing and maintenance).

I said it would be cheaper than a personal lease obviously, but as SWoll posted, I'm not currently leasing and don't need a new car right now so the terms of the SS scheme were not attractive enough to tempt me to switch, which was the point of the scheme after all. Also, as I've already stated a few times, I was comparing the base lease costs without insurance etc etc, and I know what is included and passed on as I was involved in discussions when our scheme was set up.

[teambeer]

Did a direct comparison between two schemes this week which proved interesting.

Car is a Q8 e-tron 55 Black Edition with a few options, P11D is approx £86k, 36 months/12k.

Both providers offer the same package in terms of servicing, insurance, tax, tyres etc

My employer - Tusker: £2035 monthly gross
Wife’s employer - Zenith £1303 monthly gross

Astounding difference!

[P40L VX]

Any chance you could attach the screen shots of those two quotes please? Would be good feedback in my organisation,

[Oxfordporsche]

@teambeer that is interesting and is the first time I've seen two major schemes properly compared, so I did an Octopus EV quote for you. The Q8 a car I might consider as a replacement for our Q7 black edition. Whilst I can't give you the P11d value, I can say that the Q8 e-tron estate 55 with these extras:

(Wheels:21" x 9.5J 5 arm aero glossy black Audi sport alloy
Extras:Cruise control + speed limiter, Compact e-tron charging system, 4.5m Type 2 mode 2 charging cable, Black door mirrors, Electrically folding auto dimming/adjustable/heated door mirrors with memory function, including kerb view function for passenger side, 3 spoke flat bottomed multi-function leather steering wheel with paddles for recuperation, Tyre mobility system)

is coming out as £1320 gross, which includes the employer giving back £132 as their NI savings and results in £822/mth net to me. I hope that helps.

Honestly, I still can't see how using a SS scheme, given how much of a cut they're taking currently, would make sense for me to change. Perhaps as the recession bites, supply increases and demand drops, these companies will have to drop their prices.

[jgrewal]

Absolutely shocking - what on earth are Tusker playing at? What is even worse is that they must have some crazy PAYE people ordering through them!

[Harry Flashman]

Ours is Tusker. I pay a high rate of income tax, car is 650 net - MINI E.

Pointless.

[nd0000]

theboss said:

I said it earlier, but if you're getting hit with a substantial marginal tax rate you still need to 'really want' a Tesla to substitute nearly a grand a month of gross salary for one. When they were half that cost (gross) the saving was obvious. Now you're just giving money to a lease company instead of HMRC. Some people would rather just sacrifice it to pension instead, deeming that a much more effective use of the money.

I've been trying to figure out that bit of maths! The lure of salary sacrifice schemes is that you end up thinking of it as the company giving you a benefit, rather than you just funding a more impressive car now out of money you might otherwise have put in your pension.

You might also lose a couple of grand of mileage allowance if you do 5k a year at only 4p a mile.

[TheDrownedApe]

did the car (or close version of it only 36/10k) on Novuna and resulted in:

Edited by TheDrownedApe on Wednesday 25th January 08:29

[theboss]

Harry Flashman said:

Ours is Tusker. I pay a high rate of income tax, car is 650 net - MINI E.

Pointless.

I thought it was mental enough that they were £400-500/month gross (ex vat, business lease) so that cost net for a highly taxed employee is crazy. You'd pay for the thing outright in about 2.5 years.

[Brisvegas 997C2S]

Can someone in a scheme get some idea of numbers on Taycan Sport Turismo's? Pretty hard looking in from the outside.

[dmsims]

I did a quote with CPC drive (which is Tusker!)

I ticked Metallic paint and the Tour pack (I don't know what you optioned)

Same Blk Edition

£1147

teambeer said:

Did a direct comparison between two schemes this week which proved interesting.

Car is a Q8 e-tron 55 Black Edition with a few options, P11D is approx £86k, 36 months/12k.

Both providers offer the same package in terms of servicing, insurance, tax, tyres etc

My employer - Tusker: £2035 monthly gross
Wife’s employer - Zenith £1303 monthly gross

Astounding difference!

[SWoll]

dmsims said:

I did a quote with CPC drive (which is Tusker!)

I ticked Metallic paint and the Tour pack (I don't know what you optioned)

Same Blk Edition

£1147

teambeer said:

Did a direct comparison between two schemes this week which proved interesting.

Car is a Q8 e-tron 55 Black Edition with a few options, P11D is approx £86k, 36 months/12k.

Both providers offer the same package in terms of servicing, insurance, tax, tyres etc

My employer - Tusker: £2035 monthly gross
Wife’s employer - Zenith £1303 monthly gross

Astounding difference!

Cheapest 1+35/36k lease deal on that car without any options is nearly £1500 on leasing.com so I'd question the validity of both of those cheap quotes personally. Prices for the pre Q8 rename/facelift etron have dropped considerably recently for that spec though..

Brisvegas 997C2S said:

Can someone in a scheme get some idea of numbers on Taycan Sport Turismo's? Pretty hard looking in from the outside.

They're going to vary dependent on the scheme. For a rough guide try this https://cbvc-salsac.comcar.co.uk/taxtools/salarysa...

theboss said:

Harry Flashman said:

Ours is Tusker. I pay a high rate of income tax, car is 650 net - MINI E.

Pointless.

I thought it was mental enough that they were £400-500/month gross (ex vat, business lease) so that cost net for a highly taxed employee is crazy. You'd pay for the thing outright in about 2.5 years.

Absolute madness. A fully loaded L3 Mini E is £580 a month on personal lease with 1+35/36k terms.

Edited by SWoll on Wednesday 25th January 11:30

[dmsims]

OK gotta hold my hands up - That's the net figure!

Wonder if the OP had a groos and net ?

dmsims said:

I did a quote with CPC drive (which is Tusker!)

I ticked Metallic paint and the Tour pack (I don't know what you optioned)

Same Blk Edition

£1147

teambeer said:

Did a direct comparison between two schemes this week which proved interesting.

Car is a Q8 e-tron 55 Black Edition with a few options, P11D is approx £86k, 36 months/12k.

Both providers offer the same package in terms of servicing, insurance, tax, tyres etc

My employer - Tusker: £2035 monthly gross
Wife’s employer - Zenith £1303 monthly gross

Astounding difference!

[Brisvegas 997C2S]

Brisvegas 997C2S said:

Can someone in a scheme get some idea of numbers on Taycan Sport Turismo's? Pretty hard looking in from the outside.

They're going to vary dependent on the scheme. For a rough guide try this https://cbvc-salsac.comcar.co.uk/taxtools/salarysa...

Thanks for that, quite helpful. Says a Taycan GTS for roughly £750 a month net for me, I'd jump at that.

[SWoll]

dmsims said:

OK gotta hold my hands up - That's the net figure!

Wonder if the OP had a groos and net ?

Thought it might be.

[SWoll]

Brisvegas 997C2S said:

Brisvegas 997C2S said:

Can someone in a scheme get some idea of numbers on Taycan Sport Turismo's? Pretty hard looking in from the outside.

They're going to vary dependent on the scheme. For a rough guide try this https://cbvc-salsac.comcar.co.uk/taxtools/salarysa...

Thanks for that, quite helpful. Says a Taycan GTS for roughly £750 a month net for me, I'd jump at that.

From experience I've found their pricing to be on the low side but not miles out. The big issue with the Taycan GTS is the waiting list.

[TheDrownedApe]

Brisvegas 997C2S said:

Can someone in a scheme get some idea of numbers on Taycan Sport Turismo's? Pretty hard looking in from the outside.

base model on 36/10k

[teambeer]

P40L VX said:

Any chance you could attach the screen shots of those two quotes please? Would be good feedback in my organisation,

Options were metallic paint and storage pack from memory

[P40L VX]

Perfect, thank you.