02-04-2024, 04:58 AM | #1 |
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EV Salary Sacrifice Scheme
Thinking of maybe setting one up at work, and got a couple of questions
1) Anyone any experience of setting one up? Seem to be loads of companies offering them. Do you even need to use one, or is it easy to direct via accountants /payroll? 2) Do you have to lease the car through the scheme company, or can you find the best lease, then put it through the company offering the scheme (if that makes sense)? The prices offered on the same car seems to vary quite a bit, and don't want to sign up with the 'wrong' company if we go ahead. I remember when we signed up with the Cycle to Work scheme a few years back, we had to sign up to two different schemes, as different bike shops only accepted certain schemes..... And no i'm not looking at a Taycan or new Macan |
02-04-2024, 01:55 PM | #2 |
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Perhaps not the best to comment, but when i had my own ltd company (only 2 directors) then you could lease from anyone as the accountant would do the SalSac (BiK) calculation through the tax return. I hope my memory is holding correct here.
I am guessing you are employee and someone else is director, so not sure how that works. I am full on staff now and they are using Tusker and the deal is very good. A mate's wife is also eligible for Tusker through another company and the prices are noticeably more expensive. Couldnt figure out why. For info, we are in a ix1 for £360pm including insurances. |
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02-05-2024, 10:56 AM | #4 |
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we have Zenith, a PCP is far cheaper on 90% of cars.
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02-06-2024, 02:43 AM | #5 | |
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The more I've looked at schemes, the more the pricing looks all over the place. For one car I've looked at, on two difference schemes, before sacrifice, I'm getting pricing between £360 and £595, for what as far as I can tell is exactly the mileage/ contract length etc. So much for this being a simple exercise I'm assuming you still mean salary sacrifice, just PCP instead of lease, rather than Zenith are so expensive it's cheaper to just PCP with it |
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02-06-2024, 04:21 AM | #6 |
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We have the Tusker scheme at work and around 10% of the workforce have taken up the 48m deals for iX3 / ID4 / Polestar / Renault vehicles so their fully inclusive packages must be worthwhile for some , depending on usage etc.
One thing that we couldn`t get a straight answer about is when does the payment actually get taken off , is it before / after monthly pension contributions ? Pre pension sees less ££ for the same monthly percentage contributions which may not be an issue for most but still maybe a consideration for some , especially over a 48m contract. K |
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02-06-2024, 04:40 AM | #7 | |
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02-06-2024, 04:54 AM | #8 | |
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FWIW it may no difference to me as i have no interest in the scheme. K |
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02-06-2024, 11:29 AM | #9 | |
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A model 3 RWD comes in at around £6-700 net. An MG4 comes in around £400 iirc, when there are 0% PCPs. But the real comparison is versus other salary sacrifice schemes such as Octopus EV. People in my company are posting these daily and Zenith is, whatever the car, hundreds per month more expensive. Avoid.
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02-06-2024, 11:51 AM | #10 | |
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02-06-2024, 12:57 PM | #11 | |
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As only looking at one or two cars / staff probably, might be easier to just lease and get the accountant to sort out. It does seem quite difficult to find proper impartial advice though, as pretty much every search result is someone offering a scheme..... |
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02-07-2024, 01:33 AM | #12 | |
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02-07-2024, 02:45 AM | #13 |
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Thanks. No rush as early days, but I thought finding independent advice would be easier, but even sites such as RAC end up pointing you to their own scheme. And information seems to be conflicting, as some companies say it's a business lease, and some a personal. So much for a 5 minute job
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02-07-2024, 05:45 AM | #14 | |
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model 3 rwd £618 Model Y LR £670 MG4 SE standard range £330 BMW iX 40 £787 Taycan RWD £1107 Ariya 160kw/63kwh engage £417 Kia EV9 200 RWD £752 Born 58kwh/204ps £463 ioniq 5 58/125 £485 in every case bar the Model Y , i’ve picked the cheapest model. Includes insurance and maintenance.
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02-07-2024, 08:25 AM | #15 | |
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Interesting they do seem maybe a little higher than our Octopus EV but I kept tweaking them to 48 months. My own is:- MY RWD 48m 15000 MPA is £520 Maintained Insured Tyres Free OHME Home Charger £100 towards Octopus Electricity With the fuel costs I'm all in with zero deposit in the car for about £550 a month. Less than the PCP monthly alone on most of my prior cars!
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02-07-2024, 01:19 PM | #16 |
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Thanks for the info guys.
For reference, thinking, if we go ahead, of an MG 4, as will be a second car runabout. Need to look at the details, but this crew offering for just over £200 net, excluding insurance, which is ridiculously cheap for a new car.... https://www.myelectriclease.co.uk/sa...pe=car&term=48 |
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02-07-2024, 01:47 PM | #17 | |
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I'm at £240 a month on the Jag (4 years and 10k miles per year, PCP, no tax breaks) but I may have put in a substantial deposit (in excess of £25k!) |
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02-07-2024, 03:49 PM | #19 | |
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One thing i noticed with Tusker, some of the good deals you had to move quick - they went through 150 IX1's in 2weeks! |
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02-09-2024, 10:58 AM | #20 | |
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08-29-2024, 09:37 AM | #21 |
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The company I work for is just about to join up with Tusker Salary sacrifice, but I cannot get an answer as to what PHEV’s they have on their books.
Work are like trying to nail down smoke as well. All I want to know is if the BMW330e 22kwh is available to lease, if it’s not I’ll pcp it. Anyone with tusker salary sacrifice willing to help? |
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