Salary sacrifice leasing
Discussion
SWoll said:
At £300+ a month more than a personal lease (with main and insurance) that's almost £12k over 3 years as insurance against them getting the car back early? On every car they supply..
The SS includes the following, slightly more than just maintenance and Insurance. - All servicing and maintenance
- Fully comprehensive motor insurance
- Annual road fund licence
- Replacement tyres
- Accident Management
- Roadside Assistance Including European Cover
- Free of Charge Maternity, Paternity, Adoption Protection
- Early Termination Protection
Four tyres is probably £700-£900 (£19 to £25 per month) (Assuming one set for 3 years)
Edited by SDK on Monday 18th October 16:50
It just amazes me how high the costs have gotten.
Our Model 3 P goes back next month after 2 years and almost 20k miles. It's cost us £799 a month over that period for a fully maintained, fully insured car with free public charging and a 1 month commitment.
The same company now wants £999 a month for an SR+ or £1299 a month for an LR on the same terms. They don't even offer the Performance model any more. EV's seem to exist in a weird bubble all of their own at the minute.
Our Model 3 P goes back next month after 2 years and almost 20k miles. It's cost us £799 a month over that period for a fully maintained, fully insured car with free public charging and a 1 month commitment.
The same company now wants £999 a month for an SR+ or £1299 a month for an LR on the same terms. They don't even offer the Performance model any more. EV's seem to exist in a weird bubble all of their own at the minute.
SWoll said:
It just amazes me how high the costs have gotten.
Our Model 3 P goes back next month after 2 years and almost 20k miles. It's cost us £799 a month over that period for a fully maintained, fully insured car with free public charging and a 1 month commitment.
The same company now wants £999 a month for an SR+ or £1299 a month for an LR on the same terms. They don't even offer the Performance model any more. EV's seem to exist in a weird bubble all of their own at the minute.
Massive tax bungs have distorted the market, I think. Our Model 3 P goes back next month after 2 years and almost 20k miles. It's cost us £799 a month over that period for a fully maintained, fully insured car with free public charging and a 1 month commitment.
The same company now wants £999 a month for an SR+ or £1299 a month for an LR on the same terms. They don't even offer the Performance model any more. EV's seem to exist in a weird bubble all of their own at the minute.
Cascade360 said:
SWoll said:
They're paying £925 to someone. I'd rather £400 more went in my gross pay packet than to a finance company personally.
That's incorrect - I am paying 925 to the finance company, not my employer. I don't get a car allowance. The net cost to me is 520 after tax savings.If the car cost £725 rather than £925 that additional £200 would be part of your salary and you'd receive £100+ of it in your pay packet.
SWoll said:
You employer deducts it from your gross salary and pays the finance company. They've signed the contract with the financer and you've signed a contract with them.
If the car cost £725 rather than £925 that additional £200 would be part of your salary and you'd receive £100+ of it in your pay packet.
Well yes, if the car was cheaper it would cost me less - obviously ...If the car cost £725 rather than £925 that additional £200 would be part of your salary and you'd receive £100+ of it in your pay packet.
Cascade360 said:
SWoll said:
You employer deducts it from your gross salary and pays the finance company. They've signed the contract with the financer and you've signed a contract with them.
If the car cost £725 rather than £925 that additional £200 would be part of your salary and you'd receive £100+ of it in your pay packet.
Well yes, if the car was cheaper it would cost me less - obviously ...If the car cost £725 rather than £925 that additional £200 would be part of your salary and you'd receive £100+ of it in your pay packet.
SWoll said:
Cascade360 said:
SWoll said:
You employer deducts it from your gross salary and pays the finance company. They've signed the contract with the financer and you've signed a contract with them.
If the car cost £725 rather than £925 that additional £200 would be part of your salary and you'd receive £100+ of it in your pay packet.
Well yes, if the car was cheaper it would cost me less - obviously ...If the car cost £725 rather than £925 that additional £200 would be part of your salary and you'd receive £100+ of it in your pay packet.
Problem is they are not. It does not make sense to take the personal lease when it works out 75 quid a month more than the price gouged salary sacrifice scheme.
Cascade360 said:
We are entirely in agreement.
Problem is they are not. It does not make sense to take the personal lease when it works out 75 quid a month more than the price gouged salary sacrifice scheme.
As HJ mentioned, It would do if you are covering decent business mileage. 45p per mile v 4p per mile adds up very quickly, for 10k business miles per year that's £4200 difference, or £350 per month.Problem is they are not. It does not make sense to take the personal lease when it works out 75 quid a month more than the price gouged salary sacrifice scheme.
matrignano said:
I’m also getting some chunky gross monthlies through my company scheme (Leaseplan), almost £1900 for an Audi Etron GT with C&S Plus pack over 3 years and 6k miles.
Has anyway successfully negotiated the gross monthlies down?
I think there is. I read on another forum (I’ll try and look for it and post the link) where an employer had just signed up with a company offering SS scheme. The OP was disappointed as the prices were way more than what others were offering (similar to this topic) so they complained via their union and provided like for like quotes which were significantly cheaper. In the end the company reduced their prices but they still weren’t as cheap as the others but much closer. Has anyway successfully negotiated the gross monthlies down?
So has everyone’s pricing gone up? Like I mentioned earlier when I first had a look a few weeks ago a Model 3 SR+ was coming out at £420 vs £595 now. I looked around at the time and others were around £450 as well (I couldn’t see many comparisons as they are all “closed” and require you to enquire).
I spoke to a mate today who works for the NHS and even via their SS scheme the Model 3 SR+ is now costing around £550 pm (all figures I quoted are net pay at 20% tax payer). So with this in mind maybe something has changed in the past few weeks that’s driven the prices up?
matrignano said:
I’m also getting some chunky gross monthlies through my company scheme (Leaseplan), almost £1900 for an Audi Etron GT with C&S Plus pack over 3 years and 6k miles.
Has anyway successfully negotiated the gross monthlies down?
Has anyway successfully negotiated the gross monthlies down?
So £650 more than the same car on 8k miles per year personal lease.
That's nearly £70k over 3 years for a car listing at £90k and you'll be paying extra for paint/wheels etc?
£4 per mile..
NSS89 said:
So has everyone’s pricing gone up? Like I mentioned earlier when I first had a look a few weeks ago a Model 3 SR+ was coming out at £420 vs £595 now.
100% yes. Lease prices have jumped considerably in the past few months which has driven up SS cost even further. Lots of cars now sitting at 60% over 3 years which is dreadful.Edited by SWoll on Monday 18th October 19:34
Cascade360 said:
SWoll said:
So £650 more than the same car on 8k miles per year personal lease.
That's nearly £70k over 3 years for a car listing at £90k and you'll be paying extra for paint/wheels etc?
£4 per mile..
What's the justification for charging £650 a month more than a personal lease with better mileage limit other than 'they can'?
matrignano said:
I’m also getting some chunky gross monthlies through my company scheme (Leaseplan), almost £1900 for an Audi Etron GT with C&S Plus pack over 3 years and 6k miles.
Has anyway successfully negotiated the gross monthlies down?
My employer is launching their SS this week through Leaseplan and they’ve given some examples, the costs don’t seem that cheap. I think a Seat Mii was close to £300 after savings! Has anyway successfully negotiated the gross monthlies down?
Tesla also isn’t included as they’re after sales are too poor apparently.
BMR said:
matrignano said:
I’m also getting some chunky gross monthlies through my company scheme (Leaseplan), almost £1900 for an Audi Etron GT with C&S Plus pack over 3 years and 6k miles.
Has anyway successfully negotiated the gross monthlies down?
My employer is launching their SS this week through Leaseplan and they’ve given some examples, the costs don’t seem that cheap. I think a Seat Mii was close to £300 after savings! Has anyway successfully negotiated the gross monthlies down?
Tesla also isn’t included as they’re after sales are too poor apparently.
£300 a month for a Mii after tax saving? Madness.
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