Model 3 Leasing UK

[JupiterMan]

For anyone considering salary sacrifice leases at the moment, I've been looking at the 0% PCP deals currently on offer from Tesla on the Model 3, and the costs are coming out cheaper through this than through my company as a salary sacrifice / lease as a higher rate tax payer.

For many it will be cheaper still once things like pension reductions are factored in.

worth a look if you are considering salary sacrifice / Model 3 in the next month.

 

[niksam51]

I did a comparison of Model 3 AWD for 15k and 20k miles for 48 months with 10k down and 0%

Next day the business PCP is removed from the website and Tesla tell me they are moving to Blackhorse I am now being quoted £100+ more a month albeit with a lower purchase cost in 4 years but I’m not sure I want to buy in 58 months, I’d rather pay less over the 4 years

Is this a normal thing?
Is there anything else I can do ?

Only ever previously bought cars outright

Here is the table of costs I drew up on Tuesday

 

[Marsh_UK]

Same thing happened to me and I was told by one of the sales guys and I quote ‘snooze you lose with Tesla’

 

[T-Lo]

Had the same, put off ordering and then it switched to blackhorse overnight. It seems like that switch dropped the option of a 70 month hire purchase, and for PCP the Optional Final Value dropped from £19k to £15k making the monthlies more.

I guess it doesn't really matter as still paying the same amounts.

 

[giorgosa]

Just a quick update;

I ordered a M3 LR which will be delivered in Early September (I don't want it earlier as I have a company car right now).

Once you put the order, speak to TA and you'll be able to chose between CA and black horse.

Keep in mind that CA has a big backlog of applications, but really handy if you have plenty of time like myself.


Moving from M3 RWD to M3 LR, really happy with the 0% APR as I'll be able to keep almost £30k in my account giving above 4% interest p.a.

 

[Greenio]

Just a quick update;

I ordered a M3 LR which will be delivered in Early September (I don't want it earlier as I have a company car right now).

Once you put the order, speak to TA and you'll be able to chose between CA and black horse.

Keep in mind that CA has a big backlog of applications, but really handy if you have plenty of time like myself.


Moving from M3 RWD to M3 LR, really happy with the 0% APR as I'll be able to keep almost £30k in my account giving above 4% interest p.a.

If you don't mind me asking, when did you place your order? I was under the impression that CA was no longer an option for the 0% financing as of last Tuesday

 

[giorgosa]

If you don't mind me asking, when did you place your order? I was under the impression that CA was no longer an option for the 0% financing as of last Tuesday

I placed the order today in Tesla website, and later on I got the link and completed the finance agreement.

Car is not in the UK yet, it'll be available for delivery after 5th of September.

Speak to Tesla Advisor and ask for the CA finance; it'll only be possible if there is enough time till delivery as CA has to deal with a big backlog (not an issue for me as I'll get it after 35 days).

 

[Greenio]

I placed the order today in Tesla website, and later on I got the link and completed the finance agreement.

Car is not in the UK yet, it'll be available for delivery after 5th of September.

Speak to Tesla Advisor and ask for the CA finance; it'll only be possible if there is enough time till delivery as CA has to deal with a big backlog (not an issue for me as I'll get it after 35 days).

That sounds promising, I placed my order last Wednesday and have had it placed on hold as I wasn't interested in the Black Horse offering. Might give Tesla a call tomorrow and see what I can do - like you, I'm in no rush to take delivery this month. Thanks for the update

 

[giorgosa]

0% APR offer gone from today, jumped up to 8.9%, so happy that I placed an order last week....

 

[g6pun]

Hi all, I’m leasing a MYP directly through the Tesla website on Business Contract Hire. The leasing is being arranged by ALD Automotive. I placed the order on Sunday however i already have a collection date and time for this Saturday from Tesla!

ALD haven’t contacted my to pay the initial payment or setup the direct debit etc yet, will they do that in the next 48h before collection?

The car has been on my account / app with a VIN number since ordering; will this disappear soon too?

Thanks!

 

[JupiterMan]

Good news: 0% financing on the Model 3 is back.

I was waiting for Highland, but with UK deliveries not until "sometime next year", I've just ordered a M3P from inventory at 6K off and 0%.

Net Cost through PCP is broadly equivalent to the LR I had on order through salary sacrifice, which I've now cancelled.

 

[alimordecai]

Hi there, I am currently trying to find the best way to finance or purchase a new model y through my ltd company. I am either looking at a business contract hire or the business PCP options. I am not VAT registered so I cant claim back 50% of the VAT. Business PCP looks more attractive but i am unsure if it will be treated as a lease for accounting purposes as until I make the final balloon payment, the company never actually owns the vehicle and I can use the monthly costs as a deduction. After constant emails to an from Tesla they wont actually provide me with a copy of the documents until i commit to purchasing the car in one for or another. Does anybody have experience with this and wouldn't mind sharing the (please anonymise) terms and conditions or their business PCP arrangement. Thank you

 

[T-Lo]

Hi there, I am currently trying to find the best way to finance or purchase a new model y through my ltd company. I am either looking at a business contract hire or the business PCP options. I am not VAT registered so I cant claim back 50% of the VAT. Business PCP looks more attractive but i am unsure if it will be treated as a lease for accounting purposes as until I make the final balloon payment, the company never actually owns the vehicle and I can use the monthly costs as a deduction. After constant emails to an from Tesla they wont actually provide me with a copy of the documents until i commit to purchasing the car in one for or another. Does anybody have experience with this and wouldn't mind sharing the (please anonymise) terms and conditions or their business PCP arrangement. Thank you

If you're talking about the EV 100% reclaimable as business expenses then PCP payments count just the same. Any amount paid toward a new full EV vehicle within the first year will be able to go down as an expense against Corporation Tax. So that would just be deposit plus 12 payments in your case. Best to make it as high as possible and consider shortening term or deposit to up this amount

 

[btc1k]

If you're talking about the EV 100% reclaimable as business expenses then PCP payments count just the same. Any amount paid toward a new full EV vehicle within the first year will be able to go down as an expense against Corporation Tax. So that would just be deposit plus 12 payments in your case. Best to make it as high as possible and consider shortening term or deposit to up this amount

This is not correct. You’re confusing capital allowances (100% FYA) with the tax treatment of lease costs (hire), as a monthly expense.

 

[alimordecai]

If you're talking about the EV 100% reclaimable as business expenses then PCP payments count just the same. Any amount paid toward a new full EV vehicle within the first year will be able to go down as an expense against Corporation Tax. So that would just be deposit plus 12 payments in your case. Best to make it as high as possible and consider shortening term or deposit to up this amount

Thank you. I eventually got there and im able to do as you suggested, an 'operating lease'. I ordered my model y today!

 

[darkknight123]

Hi, has anyone heard when 3rd partners will have refreshed M3 business contract hire deals?

I’m replacing my current LRM3 and was advised by ALD (who we currently use) to order directly via Tesla and then select them under finance partners for a new contract hire deal. But the app only has “self-arranged finance” as an option !!!

Do I hang in until the option is available or should I cancel my order?

 

[Steve-R]

Hi, has anyone heard when 3rd partners will have refreshed M3 business contract hire deals?

I’m replacing my current LRM3 and was advised by ALD (who we currently use) to order directly via Tesla and then select them under finance partners for a new contract hire deal. But the app only has “self-arranged finance” as an option !!!

Do I hang in until the option is available or should I cancel my order?

I'm not sure if it's the same for all types of contract hire, but Octopus EV told me they can't order until early-mid November.

 

[darkknight123]

Looks like whilst the refreshed M3 is available to order, Tesla hasn’t released official pricing details to lease finance partners yet, so they can’t offer business contract hire “yet”

Annoying as my order says it’s a December delivery (perfect for me as my current deal ends early December) but I can’t complete the order to secure the date until the finance deals are in place

Timing = no one knows (this is both Tesla and the finance companies) but “soon”

 

[TomL65]

Hi all, I’m leasing a MYP directly through the Tesla website on Business Contract Hire. The leasing is being arranged by ALD Automotive. I placed the order on Sunday however i already have a collection date and time for this Saturday from Tesla!

ALD haven’t contacted my to pay the initial payment or setup the direct debit etc yet, will they do that in the next 48h before collection?

The car has been on my account / app with a VIN number since ordering; will this disappear soon too?

Thanks!

I did the same last month it all happened very fast, ALD only emailed the form the day before collection after much hassling. I seems that ALD are struggling to cope with the demand. Anyway it was all sorted but only just.... to be fair the guys at Tesla where i was collecting (Trafford park) were very on it and hassled ALD

 

[tredman]

Hi, has anyone heard when 3rd partners will have refreshed M3 business contract hire deals?

I’m replacing my current LRM3 and was advised by ALD (who we currently use) to order directly via Tesla and then select them under finance partners for a new contract hire deal. But the app only has “self-arranged finance” as an option !!!

Do I hang in until the option is available or should I cancel my order?

Heard any more on this? Just got a new ALD list from our business and it includes the M3 LR RWD & AWD, but no word on which versions this would be