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Model 3 v Model Y salary sacrifice
- Thread starter Basicbob
- Start date
Hi,
Those figures seem incredibly cheap to me. I ordered my Model Y through the Octopus EV scheme and my Nett sacrifice was around £518 and this pre-price rise. Obviously, figures are different based on individual salary, but if it was me and you needed the extra space I would take the Y over the 3.
For example, the cheapest Model Y on the Octopus scheme now is over £600 Nett sacrifice, again based on individual earnings.
That’s largely because the Octopus scheme is typical of the “let’s gouge salary sacrifice users” lease trend. They offer it to you slightly cheaper than a non salary sacrifice lease and take a big cut of the real savings.
inimic
Member
Are your figures inclusive of insurance/servicing etc.?
If not it seems I’ve been ripped off by our salary sacrifice scheme operator - £600 net for MYLR (ordered a week ago)
If not it seems I’ve been ripped off by our salary sacrifice scheme operator - £600 net for MYLR (ordered a week ago)
We are with love electric at work (run through Lex) and (if it ever arrives
!) will pay £525 for MYLR, 10k miles including insurance maintenance etc (40% tax payer).
When we ordered it was about the same for both cars. Higher insurance on the quicker model 3 maybe? Or possibly just shifting model ys given the longer wait for 3s.
I was happy as meant I could get the LR rather than the SR+ on model 3 SWMBO would definitely have made me get and would be waiting even longer!
!) will pay £525 for MYLR, 10k miles including insurance maintenance etc (40% tax payer). When we ordered it was about the same for both cars. Higher insurance on the quicker model 3 maybe? Or possibly just shifting model ys given the longer wait for 3s.
I was happy as meant I could get the LR rather than the SR+ on model 3 SWMBO would definitely have made me get and would be waiting even longer!
Agreed it’s complete nonsense re maintenance and just a way of justifying more but does include tyres which could help. Insurance was good value at least as well, seen some getting massive quotes. Also includes things like roadside recovery….. won’t be overly chuffed if I have to be using that on a new Tesla!!
inimic
Member
Yup. All in (insurance - service - home delivery), plus wall charger install, £450 for Electroeverse and £100 credit when I switched to IntelliOct. As I said, I feel I got a good deal. With these thing however its all timing - I whent for this in April so prices will have changed.
Redbaron73
Member
The thing with Salary Sacrifice is you have to earn enough to pay enough tax to make it work.. Realistically its pointless below 60k earnings as the saving is marginal above 80k however and the numbers look atractive. You cant compare 2 peoples quotes unless they earn the same.....
Think any salary scarifice car for any employee is cheaper than any personal lease or PCP regardless of salary tax band. Higher earners do stand to save more than other earners though but wouldn't say its pointless below £60k.
Redbaron73
Member
I bet the specs are slightly different, the things that change the cost from Tesla are
1. Model/Battery - Std, Long Range or Performance
2. Wheels
3. Paint (only white is free)
4. Interior (black is free)
5. EAP or FSD AutoPilot options
spooksman
Member
Totally - the savings on tax and NI make it attractive for virtually any tax paying employee, although clearly it is better for a higher rate tax payer - not paying tax and NI on a £500 a month lease cost can be a decent saving. However, it is important to take the 2% BiK charge into account, and consider what it may do for your pension contributions.
Of course. I was basing my reply on the assumption that we were all talking about 40% TP - wrong of me to assume!
Sweeping statement.
Judging by some of the outrageous prices paid by people on this thread, I'd say not.
Spacerat
Member
It's actually the first time paying tax in Scotland has been a benefit! 41% kicking in around 43k (first World problem I know).
Having owned both, the MY is a lot more versatile as a family car i.e. hatch back, bigger boot. The 3 is a slightly more sporty drive, but there's not much in it. Seating position in the MY is considerably higher, which I find more practical/comfortable as a daily driver, but it makes it "feel" less sporty. You sit very low down in the 3, so it feels more like a sportscar.
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