Salary sacrifice leasing

Author
Discussion

ChocolateFrog

26,359 posts

176 months

Monday 24th June
quotequote all
SWoll said:
riskyj said:
That’s keen pricing. Arval are absolutely astronomical for just about everything at the moment.
I struggle to see how they can possibly be making any money at those prices though?

Taking the example of the EV6 GT above, once you take off their costs they're likely at around <£800 a month per car. Looking at AT that car is dumping £20-25k in value in it's first year and 10-15k miles (£60-65k > £40k) and that's retail prices with a discount from list. Another £10-15k over the next 2 years is surely guarateed, so their margins must be wafer thin?

Even Tuskers pricing looks tight?
I wonder how much Tusker pays for the car though, or if there's some sort of split between Tusker and the manufacturer for profit/loss.

Someone must know. It has to be a whole lot less than the list price though.

They're getting around £18k off me for my X-Power over 3 years. That'll be atleast 12 tyres at £150 a pop, and already 1 insurance claim.

No way it'll be worth more than £20k with 36000 miles on the clock.

Thekernal69

5 posts

1 month

Monday 24th June
quotequote all
Do Tusker offer deals to take up on nearly new/used cars or is it only brand new that they offer?

Pistonheadsdicoverer

302 posts

49 months

Monday 24th June
quotequote all
Thekernal69 said:
Do Tusker offer deals to take up on nearly new/used cars or is it only brand new that they offer?
Brand new. Octopus is the only one I know that does NN.

Sheepshanks

33,299 posts

122 months

Monday 24th June
quotequote all
SWoll said:
I struggle to see how they can possibly be making any money at those prices though?

Taking the example of the EV6 GT above, once you take off their costs they're likely at around <£800 a month per car. Looking at AT that car is dumping £20-25k in value in it's first year and 10-15k miles (£60-65k > £40k) and that's retail prices with a discount from list. Another £10-15k over the next 2 years is surely guarateed, so their margins must be wafer thin?

Even Tuskers pricing looks tight?
Have a look at Tuskers accounts - they're doing more than OK.

Obviously the main thing is no-one know what they pay for the cars - but look at the Motability scheme (which isn't subsidised and itself makes a handsome profit - so much that they were ordered to gives users money back) for how cheap cars can be when manufacturers want to participate. There;s plenty of £40-£45K list price EVs where the cost is fully covered - and bear in mind Motability prices are truely all in, and are for 20K miles per year. There's no VAT (or road tax) on Motability cars

Os SS there's a 50% VAT recovery and, as far as I know, that's already accounted for in the gross employee cost. That's another area where some people have got their knickers in a twist about SS - the 50% was supposed to be for cars used for business with some privtae use.

easy_rider33

154 posts

108 months

Monday 24th June
quotequote all
Thekernal69 said:
Do Tusker offer deals to take up on nearly new/used cars or is it only brand new that they offer?
They have deals on cars in stock if you are not bothered about the colour or any specific options. I got a Q8 Etron Blackedition114KWH battery with zero options for about out £100 per month cheaper than a factory order, it was on my drive in 4 weeks.

Basil Brush

5,131 posts

266 months

Monday 24th June
quotequote all
Pistonheadsdicoverer said:
Thekernal69 said:
Do Tusker offer deals to take up on nearly new/used cars or is it only brand new that they offer?
Brand new. Octopus is the only one I know that does NN.
Our scheme has just started doing it, so it may become more widespread.

patch5674

244 posts

115 months

Tuesday 25th June
quotequote all
My portal for Zenith has just had a few updates.

The Eletre has just shown up, the S is cheaper net per month than the standard car despite having a £15K higher P11d.

Standard £771 net
S £769 net
R £811 net

all @ 40% but that is without putting them through to full quote so not taking into account any insurance disparity between them.

Still - ridiculous pricing all around. The only downside is things get out of hand with any options. I took an R and added a basic paint and a basic interior and it added north of £50 a month on, I think there was someone in the main leasing thread that said all options are absorbed through the term, so sal sac would seem to reflect that.

However you don't realllyy need options, on an S specifically.

Also Porsche Macan and new Taycan are on, the Taycan prices are ridiculously high, looks like none of the companies are taking any risk and are putting it all on the customer.

Macan is better but options get out of hand as they do on a normal PCP car etc.

ARF8885

200 posts

32 months

Tuesday 25th June
quotequote all
Just thought I’d update on some useful information on the Eletre deals following a trip to Lotus Dealership this afternoon.

Deadline for leasing offers / 0% Finance
- Whilst the offer runs to 30th, realistically the finance and order needs to be agreed and approved with their funder before COP on the 28th.

0% Finance Deal
- Only available on the S and R.

Preconfigured Cars
- From a circa 400 cars originally available, there are only a total 50-60 S and R’s now left.

Factory Orders
- Upto 6 Months Delivery

Honouring prices for Factory Orders
- Once order is in place, price is fixed and honoured.

Enquiries
I was struggling to get a response via email or phone. I went to the garage and was seen immediately. If your a walk in customer, they will prioritise you over email/calls.

Overall I was in and out in a hour, including a test drive.

Hopefully of some use to those enquiring still.

ARF8885

200 posts

32 months

Tuesday 25th June
quotequote all
patch5674 said:
My portal for Zenith has just had a few updates.

The Eletre has just shown up, the S is cheaper net per month than the standard car despite having a £15K higher P11d.

Standard £771 net
S £769 net
R £811 net

all @ 40% but that is without putting them through to full quote so not taking into account any insurance disparity between them.

Still - ridiculous pricing all around. The only downside is things get out of hand with any options. I took an R and added a basic paint and a basic interior and it added north of £50 a month on, I think there was someone in the main leasing thread that said all options are absorbed through the term, so sal sac would seem to reflect that.

However you don't realllyy need options, on an S specifically.

Also Porsche Macan and new Taycan are on, the Taycan prices are ridiculously high, looks like none of the companies are taking any risk and are putting it all on the customer.

Macan is better but options get out of hand as they do on a normal PCP car etc.
There’s no offers / 0% funding deals on the Base Model, hence the S and R coming out as better value for money.

patch5674

244 posts

115 months

Tuesday 25th June
quotequote all
ARF8885 said:
There’s no offers / 0% funding deals on the Base Model, hence the S and R coming out as better value for money.
Makes sense - also, residuals come into it.

I have an i5 touring on order which is comfort+/tech+ but it is the same net as the Eletre S with a paint colour and quartz leather and no other options.

But spec for spec they are mighty similar, a choice to be made asap it seems.

ARF8885

200 posts

32 months

Tuesday 25th June
quotequote all
patch5674 said:
ARF8885 said:
There’s no offers / 0% funding deals on the Base Model, hence the S and R coming out as better value for money.
Makes sense - also, residuals come into it.

I have an i5 touring on order which is comfort+/tech+ but it is the same net as the Eletre S with a paint colour and quartz leather and no other options.

But spec for spec they are mighty similar, a choice to be made asap it seems.
Cut off for this offer is 30/06/24, but I was advised all orders will need to be in, approved and confirmation of funding by COP 28/06/24 due to their funders not working weekends.

So only a of days to grab a bargain!

ARF8885

200 posts

32 months

Wednesday 26th June
quotequote all
Order via CVSL confirmed. Going for:

Eletre S (Factory Order) - No Options
1+35, 15k per year, Fully Maintained and Insured

£630 a month (Salary Sacrifice)

Kaimu Grey Exterior
Magnetite Nappa Leather
22” 10 Spoke Grey Diamond Turned Wheels
Green Callipers

Let the waiting game begin . . .

Thekernal69

5 posts

1 month

Wednesday 26th June
quotequote all
ARF8885 said:
Order via CVSL confirmed. Going for:

Eletre S (Factory Order) - No Options
1+35, 15k per year, Fully Maintained and Insured

£630 a month (Salary Sacrifice)

Kaimu Grey Exterior
Magnetite Nappa Leather
22” 10 Spoke Grey Diamond Turned Wheels
Green Callipers

Let the waiting game begin . . .
Does that price include insurance and maintenance costs? If so that’s ridiculously cheap

TheDrownedApe

1,078 posts

59 months

Wednesday 26th June
quotequote all
Eletra at least 2k gross on novuna laugh

interstellar

3,490 posts

149 months

Wednesday 26th June
quotequote all
Thekernal69 said:
ARF8885 said:
Order via CVSL confirmed. Going for:

Eletre S (Factory Order) - No Options
1+35, 15k per year, Fully Maintained and Insured

£630 a month (Salary Sacrifice)

Kaimu Grey Exterior
Magnetite Nappa Leather
22” 10 Spoke Grey Diamond Turned Wheels
Green Callipers

Let the waiting game begin . . .
Does that price include insurance and maintenance costs? If so that’s ridiculously cheap
It says in the post fully maintained and insured.

ARF8885

200 posts

32 months

Wednesday 26th June
quotequote all
I got the BCH quote direct from Lotus, which included the Maintenance, Servicing and Tyres.

Got this and plugged it into the SS Scheme which then added the Early Termination Insurance, Car Insurance, breakdown cover, etc

Seemed to be the best way to do it as the figures the SS Scheme were getting was ridiculous.

interstellar

3,490 posts

149 months

Wednesday 26th June
quotequote all
I saw the first one on the road an hour ago, it looked lovely.

z4RRSchris

11,387 posts

182 months

Thursday
quotequote all
ARF8885 said:
I got the BCH quote direct from Lotus, which included the Maintenance, Servicing and Tyres.

Got this and plugged it into the SS Scheme which then added the Early Termination Insurance, Car Insurance, breakdown cover, etc

Seemed to be the best way to do it as the figures the SS Scheme were getting was ridiculous.
sorry how does this work? how are you sourcing external quotes for teh SS scheme?

ARF8885

200 posts

32 months

Thursday
quotequote all
Early Termination Insurance (ETI) - Worth it?

Our current SS Provider offers this (via a 3rd party) and covers the following:

- Accidental Death
- Loss of Licence
- Resignation
- Instalment Protection Benefit (long term sick, maternity etc)
- Dismissal Gross Misconduct

I’ve been reading other providers of ETI and even looked at whether this could be done direct.

But what I hoped it would include and it doesn’t, what a change in circumstances etc.

Example being, I’m getting a Lotus Eletre and seems to suit our family well even with a planned 3rd child. The scenario I played out in my head was, what if we were to have twins (going through fertility treatment, so a possibility).

Is the ETI worth it? I’ve never had any other payment protection in place previously with other PCH’s we’ve taken out privately, just this is a BCH/SS so differs slightly.

ARF8885

200 posts

32 months

Thursday
quotequote all
z4RRSchris said:
ARF8885 said:
I got the BCH quote direct from Lotus, which included the Maintenance, Servicing and Tyres.

Got this and plugged it into the SS Scheme which then added the Early Termination Insurance, Car Insurance, breakdown cover, etc

Seemed to be the best way to do it as the figures the SS Scheme were getting was ridiculous.
sorry how does this work? how are you sourcing external quotes for teh SS scheme?
They used the BCH figures with VAT, Maintenance and Servicing for the Gross Salary Sacrifice.