EV salary sacrifice

inflames

inflames

inflames

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Got a work email today, saying that the company will be offering an everyone EV using salary sacrifice with octopus. This deal would also include insurance for the user and partner. Tax, free home charger if possible, repairs, servicing and even tyres. More information will becoming on this soon. Typically Iv just got a new 2nd hand car recently, but with the waiting time for new cars would still have to wait X period of time so still interested.

Just wondering if anyone on here has a similar deal, seems almost too good to be true? Would a down payment be required like with most PCP offers?
 
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inflames said:
Got a work email today, saying that the company will be offering an everyone EV using salary sacrifice with octopus. This deal would also include insurance for the user and partner. Tax, free home charger if possible, repairs, servicing and even tyres. More information will becoming on this soon. Typically Iv just got a new 2nd hand car recently, but with the waiting time for new cars would still have to wait X period of time.

Just wondering if anyone on here has a similar deal, seems almost too good to be true? Would a down payment be required like with most PCP offers?
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We’ve got a similar scheme (Zenith I think) there is no up front payment needed, just sacrifice x a month. I tried but didn’t bother in the end (Polestar or Porsche for range reasons) because of the 12 month wait. Just going to wait until the wait is down to a couple of months instead.
 
I got my first SS car 10 years ago, on my 3rd now, with the 4th ordered last week.
It works great for EV’s with the low BIK, don’t expect bottom cheap prices though - EV’s are still expensive items!

My current Polestar 2 is £580 per month, my new BMW iX is £700 per month (with options). No initial payment, insurance, tyres and maintinence included for 12k miles per year, over 36 months.
A base spec MG4 on our Tusker scheme is £350 per month for 7k miles a year, over 3 years.
 
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inflames said:
Got a work email today, saying that the company will be offering an everyone EV using salary sacrifice with octopus. This deal would also include insurance for the user and partner. Tax, free home charger if possible, repairs, servicing and even tyres. More information will becoming on this soon. Typically Iv just got a new 2nd hand car recently, but with the waiting time for new cars would still have to wait X period of time so still interested.

Just wondering if anyone on here has a similar deal, seems almost too good to be true? Would a down payment be required like with most PCP offers?
Click to expand...

Got the same email today. Picking up on a few snippets from your posting history I suspect that may not be a coincidence.
 
My company started a company wide EV salary Sacrifice scheme with Arval last September. I was looking for a 2-3 year old car previously and budgeting for tax, insurance, wear n tear, deposit etc, for a hybrid or EV. Now with the Arval scheme everything is covered and I can use my deposit money to go towards the monthly payments or just keep it. I chose an Ioniq 5 AWD premium that's going to take approx 10 months to arrive, and doing the sums including everything it works out around the same cost fir a brand new better car than I would have previously been able to get.
 
lol at the above.

We offer one, it was silly cheap a couple of years ago with no BIK (and then 1%) and the gov grants, if you do any kind of mileage it's not really fun but if you don't, it's a great way to get into a car especially if youre a 40% tax payer
 
m@rty said:
My place uses Zenith also, had a browse recently and found both the prices and the wait times pretty terrible.
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High prices and long wait time times isn't a Salary Sacrifice issue - it's a new car market problem.
If you were a cash buyer, ordering a custom new car then the same problems would still apply.
 
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Steven Rimmington said:
We have tusker as an EV sacrifice scheme. Had a browse and quickly laughed at the comical prices.

MX-30 £401
Corsa £489

You would be off you mind to pay these prices.
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Is that pre tax or post tax price? That's also no insurance, tax, tyres or down payment.
 
SDK^ said:
High prices and long wait time times isn't a Salary Sacrifice issue - it's a new car market problem.
If you were a cash buyer, ordering a custom new car then the same would problems would still apply.
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Agree. I‘ve just ordered a new car through Tusker. I tried to get a better deal by buying from a dealer. Whilst the main dealer ‘price’ was significantly lower (>£10k discounts), they couldn’t get anywhere near the total running cost. The massive tax saving offered by the salary sacrifice scheme alone made it a better deal, and in addition to that, it included no deposit, insurance, servicing, and tyres. There are also incentives to some to bring down their gross earning figure for additional tax reasons so it can offer another benefit there.
 
inflames said:
Got a work email today, saying that the company will be offering an everyone EV using salary sacrifice with octopus. This deal would also include insurance for the user and partner. Tax, free home charger if possible, repairs, servicing and even tyres. More information will becoming on this soon. Typically Iv just got a new 2nd hand car recently, but with the waiting time for new cars would still have to wait X period of time so still interested.

Just wondering if anyone on here has a similar deal, seems almost too good to be true? Would a down payment be required like with most PCP offers?
Click to expand...
We're on the Octopus scheme as well.
Prices do look initially high, but then you add in the insurance, tyres, servicing, early termination cover, free charger, and (in our case) 4000 miles worth of free electricity. And as a 40% taxpayer, there's a decent discount from that aspect of it - so all in all I'm getting (hopefully) an mg4 trophy for like £320 a month. If it ever arrives .....
No down payment at all.
 
As SDK, Scuzi and Sinbad2000 pointed out.

Long wait times are normal regardless of how you buy your new car. Some EVs have shorter times than others and I believe Tesla have almost no wait times. For example, you could wait almost 2 years on an Audi Q4, or a Skoda Enyaq. Or get a Model Y, Model 3, I-Pace, Polestar 2, Volvo XC40 or C40 in 6 months or less.

In most cases salary sacrifice pricing also includes insurance, tax, tyres, servicing and the price of a home charger.
 
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dLockers said:
Is that pre tax or post tax price? That's also no insurance, tax, tyres or down payment.
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This is an example of the new MG4 to me the prices are very high. But I'm used to having a company car so pay very little. So I'm probably way out of touch of current prices you pay for new vehicles or for some reason my prices are higher due to insurance postcode.

Screenshot-20230315-095605.png


Screenshot-20230315-095555.png
 
Steven Rimmington said:
This is an example of the new MG4 to me the prices are very high. But I'm used to having a company car so pay very little. So I'm probably way out of touch of current prices you pay for new vehicles or for some reason my prices are higher due to insurance postcode.

Screenshot-20230315-095605.png


Screenshot-20230315-095555.png
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that looks like you're a 20% taxpayer?
 
Steven Rimmington said:
This is an example of the new MG4 to me the prices are very high. But I'm used to having a company car so pay very little. So I'm probably way out of touch of current prices you pay for new vehicles or for some reason my prices are higher due to insurance postcode.

Screenshot-20230315-095605.png
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The same car and other settings is £315 for me

52749225990_792099f023_z.jpg
 
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Its not a massive saving mind

You could finance it from MG on their terrible finance rates cheaper, tax servicing and tyres won't really be needed in that time and insurance is not high.

buy it at the end and run it for the next decade, it has what an 8 yr warranty, far cheaper ownership proposition than sitting on a perpetual lease.
 
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