Salary Sacrifice EV
Discussion
Tophatron said:
SWoll said:
I can imagine.
A good home tariff might cost you 4p a mile or less but add regular public charging and the punitive excess mileage charges and you'll be out of pocket very quickly.
Its another scheme where the more you earn the more you save also of course. As an example I put figures in for £120k salary to test the punitive tax threshold at £100k and chose the most expensive lease I could find.
£650 NET for a car costing £1500 a month..
Where did you find that calculator? I've been looking for a good one without success.A good home tariff might cost you 4p a mile or less but add regular public charging and the punitive excess mileage charges and you'll be out of pocket very quickly.
Its another scheme where the more you earn the more you save also of course. As an example I put figures in for £120k salary to test the punitive tax threshold at £100k and chose the most expensive lease I could find.
£650 NET for a car costing £1500 a month..
Edited by SWoll on Wednesday 9th June 22:22
https://legacy.comcar.co.uk/taxtools/salarysacrifi...
Dragging up an old thread here.
My company is looking at an EV SS scheme and I've volunteered myself to get involved. All the EV SS lease companies seem to want to make you take maintenance. I really don't like this as the running/servicing costs of an EV are so much lower than an ICE, so why pay for an "insurance" that likely won't be needed?
Does anyone know of an EV SS company that don't insist on maintenance being included?
My company is looking at an EV SS scheme and I've volunteered myself to get involved. All the EV SS lease companies seem to want to make you take maintenance. I really don't like this as the running/servicing costs of an EV are so much lower than an ICE, so why pay for an "insurance" that likely won't be needed?
Does anyone know of an EV SS company that don't insist on maintenance being included?
UrbanAchiever said:
Dragging up an old thread here.
My company is looking at an EV SS scheme and I've volunteered myself to get involved. All the EV SS lease companies seem to want to make you take maintenance. I really don't like this as the running/servicing costs of an EV are so much lower than an ICE, so why pay for an "insurance" that likely won't be needed?
Does anyone know of an EV SS company that don't insist on maintenance being included?
Good question - I am involved with my work on this and so far I haven't come across one. My company is looking at an EV SS scheme and I've volunteered myself to get involved. All the EV SS lease companies seem to want to make you take maintenance. I really don't like this as the running/servicing costs of an EV are so much lower than an ICE, so why pay for an "insurance" that likely won't be needed?
Does anyone know of an EV SS company that don't insist on maintenance being included?
The issue is that you don't own the car guys, you are just renting it from them, so they want to ensure maintenance is paid for up front so no reason to avoid as can be a common issue with personal lease cars thus affecting vehicle values.
Take into account that this cost also includes replacement tyres, so dependent on mileage and the servicing costs of some EV's (they're not all that cheap or have long service intervals) it's not necessarily that expensive.
Take into account that this cost also includes replacement tyres, so dependent on mileage and the servicing costs of some EV's (they're not all that cheap or have long service intervals) it's not necessarily that expensive.
Andy_290 said:
Having initially suggested and then been responsible for the onboarding of the implementation of the EV SS scheme at for the company I work at over the last 5 months (with Tusker) I can help here 
I've knocked up a quick quote on my tusker portal for you and that car (in energy blue) is coming out at £363 net for me, obviously quotes vary from user to user depending upon your location regarding insurance but it's still good value when you consider the insurance, tyres, maintenance + lifestyle protection elements, plus the lack of initial deposit.
There are sweet spots and some vehicles which are not so good value (i.e. Teslas) on the scheme but the Enyac looks decent to me.
The cheapest deal I can find on an Enyac on LeaseLoco is a smidge over £400/m but that's clearly just the car, non-maintained and without the additional elements you'll get from the EV SS scheme
I have (last week) taken delivery of an EQC on the scheme and can't believe how good value it is (£607/m) for a £73k car.
As others have mentioned, consider the impact on your pension, however our pension scheme is also salary sacrifice so no impact, but you may want to make additional contributions to cover the shortfall, this is outweighed by the benefits of the scheme in my opinion though.
Where i work is setting up SS as we speak. The EQC does look pretty slick and great value via a SS. What spec did you get for £607 and what mileage?I've knocked up a quick quote on my tusker portal for you and that car (in energy blue) is coming out at £363 net for me, obviously quotes vary from user to user depending upon your location regarding insurance but it's still good value when you consider the insurance, tyres, maintenance + lifestyle protection elements, plus the lack of initial deposit.
There are sweet spots and some vehicles which are not so good value (i.e. Teslas) on the scheme but the Enyac looks decent to me.
The cheapest deal I can find on an Enyac on LeaseLoco is a smidge over £400/m but that's clearly just the car, non-maintained and without the additional elements you'll get from the EV SS scheme
I have (last week) taken delivery of an EQC on the scheme and can't believe how good value it is (£607/m) for a £73k car.
As others have mentioned, consider the impact on your pension, however our pension scheme is also salary sacrifice so no impact, but you may want to make additional contributions to cover the shortfall, this is outweighed by the benefits of the scheme in my opinion though.
Edited by Andy_290 on Saturday 5th June 07:43
Edited by Andy_290 on Saturday 5th June 07:44
Cheers
Thread resurrection but my employer is about to do a similar scheme.
Current car is a 13 year old Merc C Class estate. I genuinely don't know what mileage we do per month but as the last fill up from empty was £114 in diesel I'm wondering if I can justify a new car via SS scheme. Commute is once per week to office on average which comes to 60 miles in total. Reckon we put it about £180 a month fuel - is there a good rule of thumb for comparing fuel prices to charging prices (e.g. one third) or do I have to do proper maths to get an idea (e.g. work out our actual yearly mileage)?
So far cheapest offers are 273 per month for a Mazda MX-30 or Nissan Leaf.
Plus sides are that it includes insurance for up to 5 people, servicing, tyres, breakdown cover, car tax and a charger but you do need to sling an MOT on it near the end of the 36 month term before handing it back. So all comes down to whether will save enough on fuel costs and the benefits package listed above (plus cost in depreciation of owning a car...)
Current car is a 13 year old Merc C Class estate. I genuinely don't know what mileage we do per month but as the last fill up from empty was £114 in diesel I'm wondering if I can justify a new car via SS scheme. Commute is once per week to office on average which comes to 60 miles in total. Reckon we put it about £180 a month fuel - is there a good rule of thumb for comparing fuel prices to charging prices (e.g. one third) or do I have to do proper maths to get an idea (e.g. work out our actual yearly mileage)?
So far cheapest offers are 273 per month for a Mazda MX-30 or Nissan Leaf.
Plus sides are that it includes insurance for up to 5 people, servicing, tyres, breakdown cover, car tax and a charger but you do need to sling an MOT on it near the end of the 36 month term before handing it back. So all comes down to whether will save enough on fuel costs and the benefits package listed above (plus cost in depreciation of owning a car...)
mikeyr said:
Commute is once per week to office on average which comes to 60 miles in total. Reckon we put it about £180 a month fuel - is there a good rule of thumb for comparing fuel prices to charging prices (e.g. one third) or do I have to do proper maths to get an idea (e.g. work out our actual yearly mileage)?
The Octopus Go Tariff @ 7.5p/Kw works out at around 2p per mile...give or take a few 1/10ths. A fast charger is now around 50p/kW so 13p per mile.
Diesel @ £1.75 a litre is ~ £8 a gallon, so a diesel would have to achieve 60+ mpg to get near the fast charger price of 50p/kW*. Charging at home will be ridiculously cheap, something like £5 for the commuting miles per month.
- according to my fag packet mathematics
Edited by Maracus on Tuesday 17th May 16:35
Maracus said:
mikeyr said:
Commute is once per week to office on average which comes to 60 miles in total. Reckon we put it about £180 a month fuel - is there a good rule of thumb for comparing fuel prices to charging prices (e.g. one third) or do I have to do proper maths to get an idea (e.g. work out our actual yearly mileage)?
The Octopus Go Tariff @ 7.5p/Kw works out at around 2p per mile...give or take a few 1/10ths. A fast charger is now around 50p/kW so 13p per mile.
Diesel @ £1.75 a litre is ~ £8 a gallon, so a diesel would have to achieve 60+ mpg to get near the fast charger price of 50p/kW*. Charging at home will be ridiculously cheap, something like £5 for the commuting miles per month.
- according to my fag packet mathematics
Edited by Maracus on Tuesday 17th May 16:35
I am having this argument with my FD. I can easily do 500 miles a day in my M3LR, and the 4p a mile means I am basically underwriting the company mileage costs by around 7p to 9p per mile. That's a lot of dosh on 20,000 miles a year.
I agree though charging from home for a commuter is where the real benefit lies, but if you use the car as a daily and big miles and your FD is a weapons grade cocksocket, then it gets expensive.
Wow, swift answers guys!
I think we'll end up doing somewhere between 5-6k a year and charging all done at home. So might have to do some actual maths to justify.
I do need to find out what the termination fee is if leave job though. No intention to of course!
To be honest, this is ask about white good motoring with the benefits of a new car. Might have to check out some of these cars in the flesh to see bit size et al.
I think we'll end up doing somewhere between 5-6k a year and charging all done at home. So might have to do some actual maths to justify.
I do need to find out what the termination fee is if leave job though. No intention to of course!
To be honest, this is ask about white good motoring with the benefits of a new car. Might have to check out some of these cars in the flesh to see bit size et al.
Without buggering around with off peak charging, getting a smart meter, etc, based on home charging, allowing for charging inefficiences (which everyone forgets and can be 20%), vampire drain losses some cars have, especially older ones, youi're looking at about 7p a mile for the most efficient cars in summer to 15p a mile for the less efficient ones in winter.
You'd have to do your own sums for your diesel.
Half isn't a million miles away in practice for like for like.
You'd have to do your own sums for your diesel.
Half isn't a million miles away in practice for like for like.
mikeyr said:
Wow, swift answers guys!
I think we'll end up doing somewhere between 5-6k a year and charging all done at home. So might have to do some actual maths to justify.
I do need to find out what the termination fee is if leave job though. No intention to of course!
To be honest, this is ask about white good motoring with the benefits of a new car. Might have to check out some of these cars in the flesh to see bit size et al.
No real maths required due to low milage and basically the PCP cost will nullify any fuel savings. So more or less the same as a ICE in monthly costsI think we'll end up doing somewhere between 5-6k a year and charging all done at home. So might have to do some actual maths to justify.
I do need to find out what the termination fee is if leave job though. No intention to of course!
To be honest, this is ask about white good motoring with the benefits of a new car. Might have to check out some of these cars in the flesh to see bit size et al.
mikeyr said:
Just to follow this up I got an ID3 for £370 per month including all the maintenance and insurance and am Ohme charger. Seemed good compromise on space and range so should suit our life nicely for next couple of years.
This is crazy, on my companies scheme (novuna) an id3 is 457 a month (36 months 30k). We currently have one but have just signed for a c40 at £458 36x30k. It I could have got another id3 for 370 I would haveThanks, makes me feel like I did okay then!
Small caveat in that it's one of their 'in stock' vehicles so occasionally they must have people leave their job. Only ten or so cars a week appear on that section so I got in quick but does mean it's been used for couple of months. Near enough brand new for me though. Should have in next couple of weeks!
Small caveat in that it's one of their 'in stock' vehicles so occasionally they must have people leave their job. Only ten or so cars a week appear on that section so I got in quick but does mean it's been used for couple of months. Near enough brand new for me though. Should have in next couple of weeks!
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