EV via Salary Sacrifice - indicative monthly cost?
Discussion
Just been advised that my work are going to implement a salary sacrifice scheme for EV's shortly. I'm just about to order a new car and don't really want to hang about waiting for this scheme.
However I'm intrigued - does anyone have experience of schemes such as this and be able to give an indication of the monthly cost for say Tesla Model 3 or Audi E-Tron?
Cheers
Stuart
However I'm intrigued - does anyone have experience of schemes such as this and be able to give an indication of the monthly cost for say Tesla Model 3 or Audi E-Tron?
Cheers
Stuart
zj2016 said:
Just been advised that my work are going to implement a salary sacrifice scheme for EV's shortly. I'm just about to order a new car and don't really want to hang about waiting for this scheme.
However I'm intrigued - does anyone have experience of schemes such as this and be able to give an indication of the monthly cost for say Tesla Model 3 or Audi E-Tron?
Cheers
Stuart
We have SS scheme at work (NHS Fleet Solutions). 2 colleagues have an Audi e-Tron and are paying c£350 a month with insurance, maintenance, tyres etc all included. Not sure which version it is but they both love itHowever I'm intrigued - does anyone have experience of schemes such as this and be able to give an indication of the monthly cost for say Tesla Model 3 or Audi E-Tron?
Cheers
Stuart
zj2016 said:
Gee’s. That’s put a cat amongst the pigeons as it’s much better value than the personal lease(diesel) that I’ve been looking at until this morning.
Might need to hold off and see what the details of the scheme are. Cheers for the info!
Huge savings on BIK tax for salary sacrifice. The car park is like an e-Tron and i-Pace showroom now. Worth looking at the newer EVs coming online as well. Skoda and VW ones look niceMight need to hold off and see what the details of the scheme are. Cheers for the info!
Just done a bit of research and hopefully could even stretch to a Taycan if my man maths can be justified.
The only I see is that I currently get a £7,500 car allowance so not sure if I would still qualify for that if I went down the salary sacrifice route. Currently no company car option.
The only I see is that I currently get a £7,500 car allowance so not sure if I would still qualify for that if I went down the salary sacrifice route. Currently no company car option.
pavarotti1980 said:
We have SS scheme at work (NHS Fleet Solutions). 2 colleagues have an Audi e-Tron and are paying c£350 a month with insurance, maintenance, tyres etc all included. Not sure which version it is but they both love it
Wow really that is a bargain. Similar with my company (fully maintained and insured) was about £585 a month out of pocket (for a base spec etron with list price of £61,220).pavarotti1980 said:
Straight salary deduction would be £795. Obviously massive pension implications.
Interesting. Nothing has been mentioned about pensions. How does this impact pensions? Pension is against gross salary, not gross salary-salary sacrifice for car.
I’m not an expert so genuinely interested to understand how this might impact me down the line.
Just ordered a Tesla M3 Long Range through wife’s job at NHS. £340 a month with all insurance and maintenance based on 36 months and 9k miles a year. Very tempted to get the E-Tron GT which was £498 but the Tesla seems incredible value so went with that.
Pension gets a hit as discussed but I’ve done the calcs and am happy.
Firm I work for has a scheme as well - same car and mileage would be just shy of £10k more over the three years. Pension wouldn’t be affected though (they top it up). However still nowhere near as good as the NHS deals.
Pension gets a hit as discussed but I’ve done the calcs and am happy.
Firm I work for has a scheme as well - same car and mileage would be just shy of £10k more over the three years. Pension wouldn’t be affected though (they top it up). However still nowhere near as good as the NHS deals.
We have had a SS scheme for a while (non NHS). Was not really competitive until EVs and tax initiatives came along. Now I concur with above, work car park is now heavily populated by etrons. I got one of the first orders and ended up at £305pcm for a 50 Tecknik with multiple options (roof bars, B&O, roof rails, paint). Servicing, tyres, insurance included. Was apparently a pricing error but they eventually honoured it after some debate (and threw me a £250 Amazon voucher for my troubles!!). Still can’t believe it. Others were around £350 I believe. Tax break is staggered though, was 0%, now 1%, 2% next year. You can see where this is going, so I’d be conscious of increasing cost through term.
For those considering the NHS scheme- consider the pension implications when you finish the deal. I think very few clinicians would claim to understand exactly how the pension scheme works- but when the salary sacrifice ends it works much as a jump in salary, increasing the pension, breaching annual allowance and triggering the dreaded massive tax bill for cash you haven't and may never see....
I understand you have to wean yourself off salary sacrifice gradually.
I understand you have to wean yourself off salary sacrifice gradually.
Here is a really good Twitter thread about implications of salary sacrifice cars for NHS people. In short, be careful!
Link below: https://mobile.twitter.com/goldstone_tony/status/1...
Link below: https://mobile.twitter.com/goldstone_tony/status/1...
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