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Salary Sacrifice
- Thread starter Pagemakers
- Start date
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.
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.
IanB
Member
Ant M3
Member
Ant M3
Member
That is a GREAT DEAL !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
Ant M3
Member
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.
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?
Can my company still offer a salary sacrifice for a Hire Purchase where I (rather than company) own the car?
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.
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?
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?
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.
SimonT
Member
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.
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