Best Lease Car Deals Available? (Vol 8)

[Ham_and_Jam]

Herbies said:

But then 17% if you claim half the VAT and take a business lease as there's no BIK. Therefore it's a stonking deal

I think you maths are a bit out!

You can only claim half the VAT (10% of the rentals). So the total gross rental over 2 years (26 x £1011.30) is £26,293.8. Your VAT reclaim would be £2,191.15 So net lease costs £ 26,293.8-£2,191.15 = £24,102.65

This equates to 32.9% of P11D value.

Edited by Ham_and_Jam on Tuesday 18th February 23:29

[Gazzab]

Ham_and_Jam said:

Herbies said:

But then 17% if you claim half the VAT and take a business lease as there's no BIK. Therefore it's a stonking deal

I think you maths are a bit out!

You can only claim half the VAT (10% of the rentals). So the total gross rental over 2 years (26 x £1011.30) is £26,293.8. Your VAT reclaim would be £2,191.15 So net lease costs £ 26,293.8-£2,191.15 = £24,102.65

This equates to 32.9% of P11D value.

Edited by Ham_and_Jam on Tuesday 18th February 23:29

But you pay for it gross from your co. So saving the various dividend and Corp taxes.

[musafir05]

When do the offers come out for vehicles for June delivery. I have the infamous BMW series 530e from total motion which is due for a return.

[indarjit-b92ls]

Thanks for the input guys, another issue i have with the Volvo T3 160 with the 1500 petrol auto is the possibility of bad fuel consumption. Im aware that Volvo's are notoriously poor on fuel, cant find too much information on the real life fuel consumption for this model, but the main criticism of the larger engine/not too dissimilar models is the fuel consumption.
My Q5 which goes back in March has averaged 42mpg average over the 2 years ive owned it, thats a combination of town/motorway driving

[Ham_and_Jam]

Gazzab said:

But you pay for it gross from your co. So saving the various dividend and Corp taxes.

Yeah I’m aware of that, but as someone who has 2 x vat registered businesses, I’m still curious how he’s managed to lose over 50% of the costs.

I Genuinely mean that

[C4rKiLLer]

Does anyone what the criteria for the Audi loyalty scheme are? I personally dont have an audi but have immediate family members who do through Audi directly (on pcp though)

Got an email about this deal that rather tickled my trout:

https://www.contractcars.com/car-leasing/deal/audi...

besides the £600 admin fee its an amazing deal on a 3+23 with 10k miles for only £261.73....(it is right?)

[talksthetorque]

Ham_and_Jam said:

Gazzab said:

But you pay for it gross from your co. So saving the various dividend and Corp taxes.

Yeah I’m aware of that, but as someone who has 2 x vat registered businesses, I’m still curious how he’s managed to lose over 50% of the costs.

I Genuinely mean that

Ihink that the BIK on an equivalent non electric car may have been added on. Perfect man maths.
Company cars and allowances are a great way to justify things.

I opted out, and instead of a 2 litre diesel A3, A class, Mazda CX5 etc, I leased an S4 privately.
The monthly payments on it were less than the company car tax.
I calculated that to be a free car.
On top of that they gave me the car allowance.
I got money back on the petrol, as it was cheaper to run due to the ppm rate.
I was getting and the tax back. on the difference between the ppm rate and the 45/25 I can claim back.

My missus said it was expensive, as I forgot to account for all the extra fuel spent on private mileage

[Herbies]

Ham_and_Jam said:

Gazzab said:

But you pay for it gross from your co. So saving the various dividend and Corp taxes.

Yeah I’m aware of that, but as someone who has 2 x vat registered businesses, I’m still curious how he’s managed to lose over 50% of the costs.

I Genuinely mean that

I saw a video of someone explaining this in more detail but it basically goes along the lines of:

Of £1000 of salary, as a higher rate tax payer, that's 40% tax + 2% NIC.

So your £1000 leaves you with £580 in your bank after tax.

Reduce your salary / take a salary sacrifice scheme by £1000 and put that against a business lease with no BIK. You're still £580 worse off but you can afford a business lease of £909 + VAT (half being reclaimable).

Essentially £1090 Vs £580 at an Inc VAT spend level.

So the Taycan is suddenly amazing value.

[filski666]

Has anybody every had a quote from VWFS to buy their lease car at the end of term? When the Passat was near the end, they offered to ask for a quote, but I wasn't interested.

I might be interested in buying the R Estate...but wondered if the price is generally reasonable, or as much a lottery as the extensions are?

[Ham_and_Jam]

Herbies said:

I saw a video of someone explaining this in more detail but it basically goes along the lines of:

Of £1000 of salary, as a higher rate tax payer, that's 40% tax + 2% NIC.

So your £1000 leaves you with £580 in your bank after tax.

Reduce your salary / take a salary sacrifice scheme by £1000 and put that against a business lease with no BIK. You're still £580 worse off but you can afford a business lease of £909 + VAT (half being reclaimable).

Essentially £1090 Vs £580 at an Inc VAT spend level.

So the Taycan is suddenly amazing value.

Ok had a feeling the cost was reduced due to 40% income tax.

I split my earnings with my wife, so mitigate the tax already. I thought there was some other stuff I was missing (was hoping!!).

TBF this doesn’t make this Taycan deal great value, it just reduces any deal.

You’d be better of finding a better deal and applying this principle to it.

[PenelopaPitstop]

filski666 said:

Has anybody every had a quote from VWFS to buy their lease car at the end of term? When the Passat was near the end, they offered to ask for a quote, but I wasn't interested.

I might be interested in buying the R Estate...but wondered if the price is generally reasonable, or as much a lottery as the extensions are?

Some people bought their GolfR at the end of lease, so the price was reasonable. You can try this website if BCA already got info that your car is coming back. I got letter in July for car going back at the end of September, so a few months before end of lease. https://www.purchasemyvehicle.co.uk/

[tourerman]

rich_miller7 said:

jdizz said:

Yes mate, thats stock.

I know someone who works at Lookers Stockport, I have asked if they have any in stock available for delivery before the end of March. I will let you know what prices he quotes assuming they have stock.

Did you get anymore from Lookers Stockport on this?

[jdizz]

tourerman said:

Did you get anymore from Lookers Stockport on this?

Had an email from Dom at Lookers this morning confirming they don't have any more in stock. Becoming like hens teeth!

[Mo28]

Skoda Citigo Electric anyone?

https://leasing.com/main-dealers/evans-halshaw-lea...

[talksthetorque]

Ham_and_Jam said:

Ok had a feeling the cost was reduced due to 40% income tax.

I split my earnings with my wife, so mitigate the tax already. I thought there was some other stuff I was missing (was hoping!!).

TBF this doesn’t make this Taycan deal great value, it just reduces any deal.

You’d be better of finding a better deal and applying this principle to it.

The low BIK only applies to Low Emissions vehicles though,

[Herbies]

talksthetorque said:

Ham_and_Jam said:

Ok had a feeling the cost was reduced due to 40% income tax.

I split my earnings with my wife, so mitigate the tax already. I thought there was some other stuff I was missing (was hoping!!).

TBF this doesn’t make this Taycan deal great value, it just reduces any deal.

You’d be better of finding a better deal and applying this principle to it.

The low BIK only applies to Low Emissions vehicles though,

Er, yeah. Like all EV.

And it's 0% from 6 April if the car is registered on or after that.

[Ham_and_Jam]

Herbies said:

Er, yeah. Like all EV.

And it's 0% from 6 April if the car is registered on or after that.

Whats entity does your business trade as? Sole trader, partnership or LTD company (if you don’t mind me asking? Ignore if you do)

[J50]

C4rKiLLer said:

Does anyone what the criteria for the Audi loyalty scheme are? I personally dont have an audi but have immediate family members who do through Audi directly (on pcp though)

Got an email about this deal that rather tickled my trout:

https://www.contractcars.com/car-leasing/deal/audi...

besides the £600 admin fee its an amazing deal on a 3+23 with 10k miles for only £261.73....(it is right?)

I'd be all over that if I could, but I don't know an answer to your question about ownership / loyalty scheme. RGW are knocking these out too, but more expensive (though still worth a look) as not the loyalty scheme.

https://rgwcontracts.co.uk/car-leasing/audi/a4-sal...

[Christian85]

Can we please keep this thread to best lease deals available and not a continuous discussion about other matters with leasing. It’s getting ridiculous now

[rich_miller7]

J50 said:

I'd be all over that if I could, but I don't know an answer to your question about ownership / loyalty scheme. RGW are knocking these out too, but more expensive (though still worth a look) as not the loyalty scheme.

https://rgwcontracts.co.uk/car-leasing/audi/a4-sal...

To be eligible for the Audi loyalty scheme you need to have a current Audi lease financed through Audi Finance/VWFS. They won't accept you if you have another brand of vehicle (Seat, VW etc) financed through VWFS which is annoying because I want one at loyalty prices! My VW lease through VWFS is current and my vehicle is due back 18th March so the A4 would be a good replacement.