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Salary Sacrifice

Discussion in 'The UK and Ireland' started by Pagemakers, Jan 16, 2020.

  1. Pagemakers

    Pagemakers Member

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    Any UK drivers using the salary sacrifice scheme for a Tesla?
     
  2. Skully

    Skully Member

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    Birmingham, UK
  3. Pagemakers

    Pagemakers Member

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    Who’s it done with. Do you mind me asking how much you pay for which vehicle. PM if you like.

    Do you have a final balloon payment?
    Is there an upfront deposit?

    I’m just about to order a 3 to replace my S but I’ve just learned that my new company may be offering a salary sacrifice scheme shortly.
     
  4. IanB

    IanB Member

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    Location:
    Merseyside
  5. Pagemakers

    Pagemakers Member

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    Great help. Thank you.
     
  6. DaveyJ2019

    DaveyJ2019 Member

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    Location:
    Falkirk
    I took delivery of a salary sacrifice M3P from tusker last month. No upfront payments. 36 month 10000 mile per annum deal with insurance/maintenence included. £545 per month once BIK tax reduces in April :D
     
  7. Pagemakers

    Pagemakers Member

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    What happens after 36 months?
     
  8. Ant M3

    Ant M3 Member

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    Oct 13, 2019
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    Location:
    Solihull, UK
    Just like leasing... you give it back
     
  9. Ant M3

    Ant M3 Member

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    That is a GREAT DEAL !
     
  10. Pagemakers

    Pagemakers Member

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    It is a great deal.

    So no option of a balloon payment to keep the car?
     
  11. Ant M3

    Ant M3 Member

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    You can buy the car , but for market value ... not really a deal as such
     
  12. Joelly

    Joelly Member

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    There is no deposit and it’s Not like a pcp deal, but they MAY offer you a price to purchase the vehicle at the end of the lease. MAY, nothing formal, nothing in the contract and therefore they’re no obliged to.
     
  13. beansnchips

    beansnchips Member

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    Gloucestershire, UK
    I'm looking to do something with my employer as they were happy to try and help me get into a M3 ( I think they are hoping I can stop talking about Tesla then!). I am not the leasing type and would much prefer to go along the Hire Purchase route (which is basically a loan to buy the car outright over a period of say 5 years), I do 26k miles per year. Most (all!) salary sacrifice schemes only allow leasing options.

    Can my company still offer a salary sacrifice for a Hire Purchase where I (rather than company) own the car?
     
  14. Joelly

    Joelly Member

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    From what I know (which isn’t everything), it’s a no. Technically the company could buy the car and sell it to you for not very much I suppose, or as an incentive, if you’re still with the company in 5 years then you have an option to buy at X amount? But no specific scheme that would be set up for you.
     
  15. beansnchips

    beansnchips Member

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    Ta.

    I'm waiting for the company accountant to get back to my boss with the advice too but too eager to press the button for the order. I may pre-order one anyway as deposit is only £750 now and figure out who owns & pays for the car later.

    I don't see why the company can't 'buy' the car, sacrifice the amount from my gross, but then who does the car officially belong to at the end of the term?
     
  16. Joelly

    Joelly Member

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    I would be interested in how this turns out so please keep me/this thread updated.
     
  17. beansnchips

    beansnchips Member

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    Will do. My boss is trying to help me (he's a mate before my boss!) so will try to help where he can but in the same situation I don't want to put him in a situation where it has a negative impact on us/business.
     
  18. Lupe

    Lupe Member

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    Location:
    UK
    M3P blue, 15,000 miles a year. Effective rental £705/month
     
  19. SimonT

    SimonT Member

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    Feb 23, 2019
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    Location:
    Bristol UK
    M3P full self drive black with white interior £612 ex vat per month through Octopus (Tusker). That’s just over £300 per month in real terms using salary sacrifice. It’s in effect free when I take into account my fuel savings.
     
  20. Lupe

    Lupe Member

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    Location:
    UK
    How many miles?
     

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