Salary sacrifice leasing
Discussion
kevburner said:
hi all , really tempted by the ioniq 5n , through tusker , around the £750 net depending on paint colour , anyone on here ordered 1 through tusker ?
ive never had an ev , still pottering about in an f30 330d ! only do around 3000k a year , and how will it effect my tax for the year i earn approx 112000k
You should also seek appropriate financial advice, however that is c. £1300 gross per month so a reduction of £15,600 per annum which will drop you out of the 60% tax bracket for a start, keep in mind the net doesn't factor in that save as well so the actual 'real world' save to you would be greater still.ive never had an ev , still pottering about in an f30 330d ! only do around 3000k a year , and how will it effect my tax for the year i earn approx 112000k
Plus the BIK of course....
Sheepshanks said:
KTF said:
With a bit of man maths and some squinting my fag packet calculations make it.
£50 of fuel every 3 weeks = £866
VED = £190
Insurance = £350
Servicing & MOT = £350
Tyres, wipers, etc. = £150
£1906 total (effectively £158.83 a month).
£280 x 12 is £3360 so an extra £1454 a year (or £121.16 a month) for a 0 miles car with lots of gadgets and no other costs to worry about isnt bad.
You're not allowing anything for depreciation of the current vehicle?£50 of fuel every 3 weeks = £866
VED = £190
Insurance = £350
Servicing & MOT = £350
Tyres, wipers, etc. = £150
£1906 total (effectively £158.83 a month).
£280 x 12 is £3360 so an extra £1454 a year (or £121.16 a month) for a 0 miles car with lots of gadgets and no other costs to worry about isnt bad.
df76 said:
Sheepshanks said:
KTF said:
With a bit of man maths and some squinting my fag packet calculations make it.
£50 of fuel every 3 weeks = £866
VED = £190
Insurance = £350
Servicing & MOT = £350
Tyres, wipers, etc. = £150
£1906 total (effectively £158.83 a month).
£280 x 12 is £3360 so an extra £1454 a year (or £121.16 a month) for a 0 miles car with lots of gadgets and no other costs to worry about isnt bad.
You're not allowing anything for depreciation of the current vehicle?£50 of fuel every 3 weeks = £866
VED = £190
Insurance = £350
Servicing & MOT = £350
Tyres, wipers, etc. = £150
£1906 total (effectively £158.83 a month).
£280 x 12 is £3360 so an extra £1454 a year (or £121.16 a month) for a 0 miles car with lots of gadgets and no other costs to worry about isnt bad.
Another advantage of going for the lease is that it drops me back down to a lower tax band so instead of paying tax and getting nothing I am getting a car out of it instead for a bit less salary a month (but less than I would have paid in tax overall) which is really the point of the scheme.
kevburner said:
hi all , really tempted by the ioniq 5n , through tusker , around the £750 net depending on paint colour , anyone on here ordered 1 through tusker ?
ive never had an ev , still pottering about in an f30 330d ! only do around 3000k a year , and how will it effect my tax for the year i earn approx 112000k
You can call Tusker and they will explain the tax impact for £100k+ earners. ive never had an ev , still pottering about in an f30 330d ! only do around 3000k a year , and how will it effect my tax for the year i earn approx 112000k
Not sure if other people are seeing this but our Zenith portal on work is showing some decent pricing for the i5 touring.
I have been keeping an eye on this and iX prices for a while ix have gone nowhere if a little bit up, but the i5 is seeing some decent discounts (potentially to do with the touring reviews hitting the press and youtube etc - generally very favourable)
I ran a few quotes earlier and I am seeing circa £820 net - 10K, 3 years @ 40% for an msport tech plus comfort plus car with sun protection glass and optional 20 inch wheels - insured in South Wales (ours scheme includes servicing and tyres etc). Not bad for an 85K P11d car. It works out about £1,250 gross deduction.
For me personally the m sport pro isn't worth it it's about £30 odd a month more (the option is £3K on the P11d) and oddly the cars with comfort and tech plus work out cheaper than taking a basic msport and adding in comfort pack and tech pack.
I enquired about this and the residuals on the essentially fully loaded "plus" cars are stronger.
For comparison the iX 40 which has a P11d of 73K without any options is showing as £830 net (you'd need to add on metallic paint and the tech pack to that for a square comparison)
I have been keeping an eye on this and iX prices for a while ix have gone nowhere if a little bit up, but the i5 is seeing some decent discounts (potentially to do with the touring reviews hitting the press and youtube etc - generally very favourable)
I ran a few quotes earlier and I am seeing circa £820 net - 10K, 3 years @ 40% for an msport tech plus comfort plus car with sun protection glass and optional 20 inch wheels - insured in South Wales (ours scheme includes servicing and tyres etc). Not bad for an 85K P11d car. It works out about £1,250 gross deduction.
For me personally the m sport pro isn't worth it it's about £30 odd a month more (the option is £3K on the P11d) and oddly the cars with comfort and tech plus work out cheaper than taking a basic msport and adding in comfort pack and tech pack.
I enquired about this and the residuals on the essentially fully loaded "plus" cars are stronger.
For comparison the iX 40 which has a P11d of 73K without any options is showing as £830 net (you'd need to add on metallic paint and the tech pack to that for a square comparison)
Is this tusker a bit slippery or is it just our bad luck?
Ordered a i4m50 . A week later they contacted us to say dealer can't for fill the order and to await a new listing. Price increased about £200 odd a month with new listing.
to be fair there was a facelift announced a couple of days after we ordered. However it actually looks like the list price has gone down.
So, due to the price increase we sacked that one off.
Ordered a q8 etron
A week or so later they contact us and say that due to it being a my25 the order is in place but theres a price increase.
Check the website and its over £300 a month more.
Unbelievable. Tbh both prices were imo very good but is this a practice they do all the time.
Now have briefly looked at the q6 etron which as a launch edition is good money. But its a 45 week waiting time and again what if they start putting the price up.
Ordered a i4m50 . A week later they contacted us to say dealer can't for fill the order and to await a new listing. Price increased about £200 odd a month with new listing.
to be fair there was a facelift announced a couple of days after we ordered. However it actually looks like the list price has gone down.
So, due to the price increase we sacked that one off.
Ordered a q8 etron
A week or so later they contact us and say that due to it being a my25 the order is in place but theres a price increase.
Check the website and its over £300 a month more.
Unbelievable. Tbh both prices were imo very good but is this a practice they do all the time.
Now have briefly looked at the q6 etron which as a launch edition is good money. But its a 45 week waiting time and again what if they start putting the price up.
No surprise in all honesty. They're still terrified by potential future EV depreciation so will of course put all of the risk on the end user to protect their profit margins and use things like facelifts as an excuse to hike prices.
As an example i4 M50's are dumping £25-30k in the first year and 10k miles..
As an example i4 M50's are dumping £25-30k in the first year and 10k miles..
SWoll said:
No surprise in all honesty. They're still terrified by potential future EV depreciation so will of course put all of the risk on the end user to protect their profit margins and use things like facelifts as an excuse to hike prices.
As an example i4 M50's are dumping £25-30k in the first year and 10k miles..
The lease companies aren't paying anything like RRP for the cars for the most part.As an example i4 M50's are dumping £25-30k in the first year and 10k miles..
If a car is temporarily a steal on lease it means the manufacturer has pushed a load of stock that way. Move quick because the moment the cheap stock is allocated the price will bounce back up - although for the same reasons there's always a handful of great value cars available.
Not that SS leasing is ever good value compared to shopping around all lease companies and putting whichever is cheapest through as a company car.
KTF said:
Yes, another cost to take in to account if you wanted the figures to be as accurate as possible.
When we did opt-out vs company car calculations at work we used to reckon the "peace-of-mind" benefit of having a company car was £100/mth. However that was based on doing 30K miles per year, and doing that gets pretty hard on a car. I guess for a more average user you could call it maybe £35/mth (pick your own number).I suppose against that, you've got to keep the car in good nick or you'll get end-of-lease charges. We didn't charge those to employees with company cars, and some came back in a bit of state.
KTF said:
Another advantage of going for the lease is that it drops me back down to a lower tax band so instead of paying tax and getting nothing I am getting a car out of it instead for a bit less salary a month (but less than I would have paid in tax overall) which is really the point of the scheme.
I think the point of the scheme is for the salary sacrifice providers to divert the income tax you normally pay from the Government to their own bottom line. It's an absolutely wizard scam - charging you a nett amount that's fractionally less than you could get outside the scheme.
It's particularly bizarre that the NHS allows it - the tax should be being used to offset the cost of NHS employees salaries, not making SS providers amazing profits - but worth taking advantage of if you can.
ARF8885 said:
Has anyone saw the Lotus Eletre deal on any SS providers?
My Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
Not showing on Zenith for me for a large employer.My Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
I would wager that the crazy deals like that don't typically go onto Sal Sac portals.
I think £600 a month for that Eletre deal still requires £7/8K in upfront, which the Salary Sacrifice schemes all run on a no deposit basis.
Still a cracking deal for a car which is north of £100K.
ARF8885 said:
Has anyone saw the Lotus Eletre deal on any SS providers?
My Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
Not showing on Arval, we are a very large employer. My Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
ARF8885 said:
Has anyone saw the Lotus Eletre deal on any SS providers?
My Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
Large employer.My Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
Zenith is our provider.
Can't see it as we have a £90k limit on rrp.
ARF8885 said:
Has anyone saw the Lotus Eletre deal on any SS providers?
My Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
On our scheme with Fleet Evolution, a 450KW S with P11D val of £106k is £1624 net / £2689 gross per month on a 3 year/30k miles lease incl insurance and maint etc, but our prices always seem higher than a lot on here.My Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
Basil Brush said:
ARF8885 said:
Has anyone saw the Lotus Eletre deal on any SS providers?
My Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
On our scheme with Fleet Evolution, a 450KW S with P11D val of £106k is £1624 net / £2689 gross per month on a 3 year/30k miles lease incl insurance and maint etc, but our prices always seem higher than a lot on here.My Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
ARF8885 said:
Has anyone saw the Lotus Eletre deal on any SS providers?
My Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
This isn't much help but the Eletre was on our Octopus SS portal a few months back but they quickly disappeared, think the net price was around £1600 per monthMy Employer is small and we have recently used CVSL to do a SS for an employee on a MY.
I’m awaiting a quote, but wondered whether they had popped up anywhere else and whether the prices could be shared?
TIA
KGoogle said:
Can someone that’s with octopus salary sacrifice tell me if they take a double deduction payment on the first month, my HR are saying they do but octopus saying they don’t :s
They didn't with me - paid 15th of the month (2 forward, 2 back) and car collected on the 24th.Gassing Station | EV and Alternative Fuels | Top of Page | What's New | My Stuff