Car Salary Sacrifice Scheme

rhysduck

rhysduck

rhysduck

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Sorry if this has been asked before.

New Salary Sacrifice scheme in work has come out for various things like tech, cars etc. Looking at a new Clio 1.5dci Dynamique Nav 5dr. All in for £265 a month.

Insurance
Breakdown
Tyres
Servicing

36month lease and no option to keep at the end.

Is this any good? :confused: I've never gone the lease route so have no knowledge if it's a good deal. Essentially having done some initial sums, is she takes this option up she'd be paying about £140 extra a month for the Clio, on top of what she pays now for her current car...

Thanks
 
I'm no expert on lease deals but I feel like £265 pm for a French hatchback is a lot. Iirc people where getting golf r's for cheaper than that not so long ago. Maybe scout around the personal market and compare prices? I believe What car is a good site.
 
As far as I understand it any car taken under a salary sacrifice scheme attracts BIK tax just like a company car. You'll also need to factor this cost in if you haven't already. It's possibly included in the quote that you've got.
 
Snookums said:
I'm no expert on lease deals but I feel like £265 pm for a French hatchback is a lot. Iirc people where getting golf r's for cheaper than that not so long ago. Maybe scout around the personal market and compare prices? I believe What car is a good site.
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Those deals didn't include maintenance and insurance.

If this guy is 17 that could be a good deal
 
Do the maths, get insurance quotes for the term, find out rough servicing costs over that time frame etc. etc. Only one way to work it all out.

As mentioned £265/month for a Renault Clio sounds like a lot though..
 
NooBish AbbZ said:
Do the maths, get insurance quotes for the term, find out rough servicing costs over that time frame etc. etc. Only one way to work it all out.

As mentioned £265/month for a Renault Clio sounds like a lot though..
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This will be the deal through the company's chosen salary sacrifice lease provider, and possibly also includes the BIK tax element as well.

OP, you need to understand what you describe as "all in" actually includes.
 
It's not a cheap method of driving that car but it's 100% convenient , as you have a fixed monthly price for all of your motoring requirements - just add fuel :)

At the end you hand it back and have no sales to worry about.

Is it value for money? - no
Is it hassle free motoring for 3 years? - yes
 
We have a similar scheme available at work. It would have been mildly interesting if a 1.2 fiesta wasn't £300 a month.
 
SDK^ said:
It's not a cheap method of driving that car but it's 100% convenient , as you have a fixed monthly price for all of your motoring requirements - just add fuel :)

At the end you hand it back and have no sales to worry about.

Is it value for money? - no
Is it hassle free motoring for 3 years? - yes
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Yes, you are freed from the hassle and tyranny involved in driving a brand new car another way. Because there is so much hassle involved, right?

These offers are typically crap - the salary sacrifice benefit is offset by the fact the deals are poor.

You'll probably be able to lease the same car somewhere else for much less money.

A brand new Fiesta won't need new tyres at any point over a 2 year lease, it probably won't need a service, road tax is 30 quid and insurance is hardly difficult to purchase.
 
Ive got a 1.5dci Clio dynamique s nav. Was £486 up front and 35 payments of £162 on a 3yr lease. It's done 11k miles in 18mths (I do around 16k miles a year, so leased 2 diesel cars for less than £400 a month on 10k mile deals). Insurance is £22 a month. 1st service was £70, 2nd service is £150, 3rd service is £70. Tyres still have a lot of tread on them, and they'll probably need changing near the end of the lease is my gut feeling, so about £360 for the full set.

So quick man maths works out around £211 a month over 36mths inc servicing, tyres and insurance.
 
kefkef said:
Ive got a 1.5dci Clio dynamique s nav. Was £486 up front and 35 payments of £162 on a 3yr lease. It's done 11k miles in 18mths (I do around 16k miles a year, so leased 2 diesel cars for less than £400 a month on 10k mile deals).
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Would it not have been better to just pay the excess mileage on one of them!? It's not generally THAT expensive.
 
kefkef said:
(I do around 16k miles a year, so leased 2 diesel cars for less than £400 a month on 10k mile deals).
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Surely it would be cheaper to pay the excess mileage charge for the extra 6k miles if allowed or find a 16k mile lease deal than leasing 2 cars?

Infact for £400 a month, you could pretty much buy one of those clios nearly new outright. http://www.ebay.co.uk/itm/2016-Rena...648152?hash=item51ecf23898:g:FZcAAOSw8gVYBXqc is only £14k with 700 miles on the clock.
 
I needed 2 cars. The wife started a new job and handed back her company car. So for less than £400 a month I've got two brand new cars on the drive, covered by warranty and with breakdown cover etc they cover me for the miles I do and she uses the miles that are left.
 
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