Salary sacrifice leasing - inflated prices
Discussion
My company has recently offered car leasing via salary sacrifice through a company called SG Fleet. The prices seem to be very high (pretax) with little transparency.
On a few models a 48 month lease (no option to keep the car after) adds up to more than the cost of buying the car outright! They seem to be relying on the fact it will be cheaper for you because of the tax saving.
Is this anyone else's experience? Any success on getting prices down?
On a few models a 48 month lease (no option to keep the car after) adds up to more than the cost of buying the car outright! They seem to be relying on the fact it will be cheaper for you because of the tax saving.
Is this anyone else's experience? Any success on getting prices down?
Ours is with Tusker who i heard were expensive so did a comparrison with NHS fleet (who my wife has used for her car) on an identical spec and terms ID3 to the one she now has. Tusker were twice the price.
Had her spec another car and i matched it and again mine came out twice the price. Yes NHS fleet may get discounts but i’ve heard of other salary sacrifce companies offering similar to that of NHS fleet.
I’m still debating whether to order one for when mine goes back, its annoying knowing i could get it cheaper if my company had gone with a different firm but 80% cost would be covered by my car allowance and the rest by the savings in insurance, tax, fuel so in theory i should save on it.
Had her spec another car and i matched it and again mine came out twice the price. Yes NHS fleet may get discounts but i’ve heard of other salary sacrifce companies offering similar to that of NHS fleet.
I’m still debating whether to order one for when mine goes back, its annoying knowing i could get it cheaper if my company had gone with a different firm but 80% cost would be covered by my car allowance and the rest by the savings in insurance, tax, fuel so in theory i should save on it.
Babcock just signed up for this via Novuna. I noticed weird pricing such as 37k cars the same monthlies as 47k cars (id.3 v c40). Most seemed slightly more expensive but i've just signed up for the C40 as it's cheaper than anything else except the leaf.
36x10000k with insurance and maint etc works out at £678 gross and about £420 net a month for me (difficult to be exact due to fluctuating 40/20% tax bracket).
I don't care about this job's pension contributions as that's already sorted, therefore to me it's a pretty good deal.
36x10000k with insurance and maint etc works out at £678 gross and about £420 net a month for me (difficult to be exact due to fluctuating 40/20% tax bracket).
I don't care about this job's pension contributions as that's already sorted, therefore to me it's a pretty good deal.
TheDrownedApe said:
Babcock just signed up for this via Novuna. I noticed weird pricing such as 37k cars the same monthlies as 47k cars (id.3 v c40). Most seemed slightly more expensive but i've just signed up for the C40 as it's cheaper than anything else except the leaf.
36x10000k with insurance and maint etc works out at £678 gross and about £420 net a month for me (difficult to be exact due to fluctuating 40/20% tax bracket).
I don't care about this job's pension contributions as that's already sorted, therefore to me it's a pretty good deal.
So Tusker quotes are £544 net for Core model or £678 net for the Ultimate for comparrison36x10000k with insurance and maint etc works out at £678 gross and about £420 net a month for me (difficult to be exact due to fluctuating 40/20% tax bracket).
I don't care about this job's pension contributions as that's already sorted, therefore to me it's a pretty good deal.
We have a scheme with Tusker and has the same issue - massively inflated prices which meant even with the tax benefits, the hit on take home was more or less the same as if I'd leased on a personal deal direct from the manufacturer.
As such, didn't take up a lease to replace my wife's car, and bought myself a Golf R instead.
As such, didn't take up a lease to replace my wife's car, and bought myself a Golf R instead.
roltyid said:
We have a scheme with Tusker and has the same issue - massively inflated prices which meant even with the tax benefits, the hit on take home was more or less the same as if I'd leased on a personal deal direct from the manufacturer.
As such, didn't take up a lease to replace my wife's car, and bought myself a Golf R instead.
Ours is also with Tusker... I keep looking on there and concluding I want some of what they are smoking.As such, didn't take up a lease to replace my wife's car, and bought myself a Golf R instead.
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