salary sacrifice car lease through umbrella company (on.to)

[agentzero]

Everyone is comparing the cheapest cars though. I can't believe there are many contractors going to be picking a Renault Zoe as a company car. Pick something more realistic and then run the numbers. Tesla Model 3 or Audi Q5 at a grand a month... starts to not look like a very good deal even with tax savings at those figures. If you are WFH and don't go far it would be cheaper to use a limo service.

The formula is missing the expected cost of fuel. If the lease is for 10000miles then try adding in fuel at the current rates, in line with your expected use, to give a true total.

Electric vehicles seem to generally cost more than the equivalent fossil fuel car as they know you'll being paying peanuts to charge it.

[northernladuk]

The formula is missing the expected cost of fuel. If the lease is for 10000miles then try adding in fuel at the current rates, in line with your expected use, to give a true total.

Electric vehicles seem to generally cost more than the equivalent fossil fuel car as they know you'll being paying peanuts to charge it.

Fair point but I was talking about everyone banding the numbers for the smallest car they do which I doubt anyone will be taking anyway so not a realistic estimate.

[fabios]

Everyone is comparing the cheapest cars though. I can't believe there are many contractors going to be picking a Renault Zoe as a company car. Pick something more realistic and then run the numbers. Tesla Model 3 or Audi Q5 at a grand a month... starts to not look like a very good deal even with tax savings at those figures. If you are WFH and don't go far it would be cheaper to use a limo service.

The idea of picking up the cheapest car is to show how cheap it is when you compare to owning any car. 700miles + servicing + tax + insurance for £250 you don't have to pay when you own a car. Tesla 3 new is £45k, you can buy for cash if you don't invest your surplus but if you do you have to take into account potential loss of earnings.

or.... just a thought.... if OP can't afford to lease a car personally then how about buying an old banger?

I always wonder what drives people to give such comments on this forum. Just because I'm trying to save £££ doesn't mean i can't afford something. We all could have used umbrella long before ir35 update and yet so many of us chose to ltd.

[northernladuk]

The idea of picking up the cheapest car is to show how cheap it is when you compare to owning any car. 700miles + servicing + tax + insurance for £250 you don't have to pay when you own a car. Tesla 3 new is £45k, you can buy for cash if you don't invest your surplus but if you do you have to take into account potential loss of earnings.

But it's not showing total cost of ownership. It might even be the more expensive the car the better the savings but who knows until you put some real numbers for real cars that you would actually get.

[fabios]

But it's not showing total cost of ownership. It might even be the more expensive the car the better the savings but who knows until you put some real numbers for real cars that you would actually get.

But that's irrelevant here. The question was if there is umbrella doing salary sacrifice for a car lease. It doesn't matter if my intention is to drive Zoe or e-tron gt.

[northernladuk]

But that's irrelevant here. The question was if there is umbrella doing salary sacrifice for a car lease. It doesn't matter if my intention is to drive Zoe or e-tron gt.

True but heaven forbid a post on CUK strays off topic.

Maybe post the next umbrella question in the Umbrella forum though

[WTFH]

I always wonder what drives people to give such comments on this forum. Just because I'm trying to save £££ doesn't mean i can't afford something.

Hence my question about NCD, etc, and how it would work when your contract ends.

[eek]

Hence my question about NCD, etc, and how it would work when your contract ends.

Same as it would do with any other company car lease where the company provided the insurance. A slight hassle but not much of...