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Leasing Model 3 via Salary sacrifice

spartanheed

Member
Nov 5, 2020
50
36
Durham
Model 3 Long Range ordered

£595 gross reduction, £295 net reduction

- 48 months
- 8000 miles
- Insurance, maintenance, tyres, breakdown included

It pretty much halves my pension contributions, but given I have another 30 years to go before I retire I'm not too concerned. The NHS pension pot is chance to have disappeared by then!

just an update on this. Got my first wage slip through today and my lease company have miscalculated my pension contribution savings :mad:

Instead of being £295 worse off I'm actually £375 worse off per month! I'm waiting to hear back from them but I suspect my 2 choices will be to either swallow it or hand the car back. The one saving grace is that the extra £80 is all going towards my pension contributions. Far rather than than it going towards PAYE
 

browellm

Member
Oct 4, 2019
457
409
Notts
just an update on this. Got my first wage slip through today and my lease company have miscalculated my pension contribution savings :mad:

Instead of being £295 worse off I'm actually £375 worse off per month! I'm waiting to hear back from them but I suspect my 2 choices will be to either swallow it or hand the car back. The one saving grace is that the extra £80 is all going towards my pension contributions. Far rather than than it going towards PAYE

I read this one at the time and couldn't work out how the £295 had been calculated. Didn't want to say anything though. :/
 

Thebaron1974

Member
Nov 3, 2020
28
9
Wickham Market
just an update on this. Got my first wage slip through today and my lease company have miscalculated my pension contribution savings :mad:

Instead of being £295 worse off I'm actually £375 worse off per month! I'm waiting to hear back from them but I suspect my 2 choices will be to either swallow it or hand the car back. The one saving grace is that the extra £80 is all going towards my pension contributions. Far rather than than it going towards PAYE
Just out of interest who is the lease with? I will be picking up a M3LR in April and Knowles have told me the reduction will be £385, however my own calcs come out at £445....I will wait and see!
 

FEERSUMENDJIN

Member
Jul 27, 2019
135
125
Scotland
Hi

my wife's work offer a EVs leasing via Salary sacrifice. The provider for this is Arval. In theory this should be an affordable way of driving a model 3 but I am surprised by the monthly leasing cost they are quoting.

Arval only offer 36 Month leasing deals via this scheme (they do offer 48 for normal leasing) and all deals include maintenance and insurance. You cannot have it without.

The price they are quoting for a Tesla Model 3 Standard Plus is
£802/pm as the salary sacrifice. So with a Tax rate of 40% that is quoted as £ 465.24/pm going up to £ 494.86 in the 3rd year because of changes in the BIK.

That figure of £802 sounds far too high! There is no deposit and it includes maintenance and insurance but
I have seen 'normal' lease quotes for the same car (and no deposit or only 1 month deposit) that comes in around

BridleVehicleleasing.co.uk (8000 miles/year, 36 month, incl maintenance)
Business: £503.08/pm excl VAT
Private: £603.69 incl VAT


Allcarleasing: (no maintenance)
Business: £465.60 excl VAT
Private: £558.72 incl VAT

I assume for comparison we would need to use the business lease quote. So how come their quote is £300/pm heigher?
Yes it does include insurance but that should only be £50-£70/month.

Has anyone else got a Tesla Model 3 via Salary sacrifice? What is your Total Gross Salary Exchange?

The odd thing is that they offer a lease for a Audo e-Tron for $447/pm (net sacrifcie).

I have asked them how that could be:
  1. The costs can vary between manufacturers depending on what manufacturer discounts they provide. This is why you may see Jaguar and Audi coming in less than the Tesla.
The Audi is £20,000 more expensive than the Tesla!
They would also not provide a quote where the prices for the lease, the maintenance and the insurance is listed.

As anyone got a normal Business leasing deal with Arval? I have the feeling that once you a locked in with them (because the company chose them as the provider) they overcharge you on the additionals that you can't opt out of!

I am trying to collect enough information to challenge them on that quote.
Yup my experience of these corporate procurement companies is that they are predatory as you describe. They convince some admin they qualify as value in the tendering process then they screw the end users.
 
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GeorgeSymonds

Active Member
Mar 16, 2018
1,082
666
UK
I dare say there is a bit of exploitation going on but in my experience fron the last time I had a company car the mileage was unlimited and the insurance was generous to any driver over 25. You may not need either of those 2 things but they want to keep that side of things pretty stamdard and it costs.
 

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