Tusker salary sacrifice appreciation thread

[Familymad]

I’ve been seeing comparison posts of Tusker deals against other offerings like Zenith etc.

I’d like to contact my employee benefits dept and show them the price differential from other firms compared to Tusker. Real evidence will help.

Could I have some comparison deals on the vehicles that are making up our staff car park based on 10k pa 36 months full maintenance, insurance and tyres please:

Tesla M3 LR
Tesla M3 Perf
Tesla Y LR
Audi Etron
Taycan CT 4S

All flat colours and no options. Taycan is 11kW standard charger.

Is that enough info ?

Thanks

Edited by Familymad on Friday 16th September 17:26

Edited by Familymad on Friday 16th September 17:27

[Familymad]

[Beethree]

Familymad said:

I’ve been seeing comparison posts of Tusker deals again other offerings like Zenith etc.

I’d like to contact my employee benefits dept and show them the grave mistake that was taken by the firm in entering into salary sacrifice with Tusker. Real evidence will help.

Could I have some comparison deals on the vehicles that are making up our staff car park based on 10k pa 36 months full maintenance, insurance and tyres please:

Tesla M3 LR
Tesla M3 Perf
Tesla Y LR
Audi Etron
Taycan CT 4S

I’d that enough info ?

Thanks

Interested to see this, our company also went with Tusker recently (first time offering salary sacrifice). I was quite shocked at how expensive everything was, certainly didn’t seem like anyone was getting a great deal.

[AWRacing]

My wife can get a model Y LR through NHS fleet for ~£450, my company also chose to go the Tusker route and identical terms, mileage, maintenance etc its over £900.

Every car i’ve compared between Tusker and NHS fleet is at least twice the price

[Familymad]

Can you get any NHS fleet solutions quotes to upload?

[Smiljan]

Tesla M3 LR - Not available on Tusker at our company

Tesla M3 Perf - Not available on Tusker at our company

Tesla M3 Standard Range - £1137 gross from salary.

Tesla Y LR - £1272 gross from salary.

Audi Etron 55 - £1926 from salary.

Taycan CT 4S - £1777

When it first came to our firm it was pretty reasonable monthlies, now they're nuts. How the Taycan CT 4S ends up cheaper than a base Etron is beyond me.

A few of my colleagues have got cars through them and had no issues though.

Worth noting the net monthlies depend on your income and tax, they are also tailored for the insurance part depending on your age, where you live etc....

[PrinceRupert]

Zenith is bloody expensive as well.

[jgrewal]

So gutted that my wife who is NHS is using Tusker! NHS Fleet at least has realism in its pricing. Tusker is basically worse than private leasing with the pension contribution getting hammered on top too!

[srj2411]

Have exactly the same - my employer uses Tusker and wife is NHS Fleet Solutions. From the endless quotes I’ve done, across the board Tusker is pretty much always twice the price. Would love to know how this works and why NHS Fleet can get discounts this much cheaper

[ukpolak]

Doesn’t NHS amount eat in to your effective salary thereby also lowering defined benefit pension payments? i.e lease it is cheaper however your effective salary is lower which then adversely impacts your pension pot over a period of time.

This compares to PLC defined contribution pension schemes and associated salary sacrifice car schemes (eg Tusker) where your net salary is lower once you take the car just like with the NHS, thereby saving income tax, BUT HR will likely still use your gross salary when calculating how much they put in to your employee workplace pension vs NHS which bases it on your net salary.

I may have got that completely wrong but my understanding of the NHS cost effectiveness is that most people taking it out don’t realise how much it is screwing their pension pot over time, i.e. lower monthly cost benefit but pension pot erosion over time.

[Terzo123]

I do believe there are serious pension implications with the NHS schemes.

They do not make the implications clear, it will only be when you retire the full effect is known.

[nick-g50hy]

My work Tusker
Gross prices
Tesla M3 LR - 1220
Tesla M3 PERF - 1237
Tesla MY LR - 1141
Couldn’t find the proper etron just the q4
Taycan 4s CT - 1567

All 3 years 10k a year. No extras.

[ucb]

Terzo123 said:

I do believe there are serious pension implications with the NHS schemes.

They do not make the implications clear, it will only be when you retire the full effect is known.

True, the gross salary sacrifice that many seem to race to at my place of work (all electric premium vehicles naturally) can either reduce your pensionable salary (and hence the final salary scheme value reduces) or, if you choose to end the lease before retirement, an effective salary increase on pensionable earnings with the consequent AA charge & LTA issues. All very first world issues in a still good pension scheme.

On NHS fleet this am (higher rate tax payer):
No Tesla M3 available
No ETron available, just ETron GT
No Taycans available
Tesla MY LR special offer apparently

Edited by ucb on Saturday 17th September 08:54

[Monkeylegend]

All part of the buy now pay later culture.

Will probably be something many will regret when it comes to their retirement.

[sawman]

ucb said:

Terzo123 said:

I do believe there are serious pension implications with the NHS schemes.

They do not make the implications clear, it will only be when you retire the full effect is known.

True, the gross salary sacrifice that many seem to race to at my place of work (all electric premium vehicles naturally) can either reduce your pensionable salary (and hence the final salary scheme value reduces) or, if you choose to end the lease before retirement, an effective salary increase on pensionable earnings with the consequent AA charge & LTA issues. All very first world issues in a still good pension scheme.

On NHS fleet this am (higher rate tax payer):
No Tesla M3 available
No ETron available, just ETron GT
No Taycans available
Tesla MY LR special offer apparently

Edited by ucb on Saturday 17th September 08:54

I just ran the same special offer with fleetsolutions, i am higher rate tax but no longer in pension scheme, headline figure for salary sacrifice is £496

[Familymad]

The NHS one is poor re the pension I agree. My bro in law an actuary ex KPMG and was working for Gov on pensions. Seems when you pop out of your sacrificed salary period and the car goes back, you show a rise in wage and then get hit by pension tapering tax. Many consultants and GP’s now finding that.

Ouch

[ukpolak]

Familymad said:

The NHS one is poor re the pension I agree. My bro in law an actuary ex KPMG and was working for Gov on pensions. Seems when you pop out of your sacrificed salary period and the car goes back, you show a rise in wage and then get hit by pension tapering tax. Many consultants and GP’s now finding that.

Ouch

… leading to the need to take early retirement or go part time so as to minimise tax liability. All unintended consequences which does nothing to help availability of doctors and reduction in backlogs etc.

[rugbyleague]

Tesla M3 LR £1123.00
Tesla M3 Perf £1123.86
Tesla Y LR £1033.47
Audi Etron 220kW 50 Quattro 82.77kWh Edition1 5dr At C+S/Tech £1063.39
Taycan CT 4S Not available

All maintenance, ins, no deposit, 3yrs*10K

[jaydeeuk1]

Holy hell that model Y is expensive! Gross amount is twice what I'm paying!

[Smiljan]

You're paying £500 gross! What scheme is that under?