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Cheers.I'm on process of setting this up in our company, most likely via Octopus EV.
No it shouldn't work like that. you should have a contracted base salary, on which your pension is based, then salary sacrifice (which can be done on a number of benefits) calculations done to give you a revised "salary".Thanks Ian.
Potentially useful then, however I guess the lease cost is retail and we know we can get decent discounts (unless the tax savings are greater than the dealer etc discounts).
I presume your pension contributions take a hit as your employer pays less for you as your salary has effectively decreased? If so, you need to pay more yourself to make up the shortfall from the employer?
Ours is going to be set up so that the SS payment includes deposit, maintenance, servicing, tyres, insurance, and early termination insurance. If you normallu run with a PCP on a new car then SS on a BEV should be very attractive. I probably won't go ahead as it's still more expensive than running my 340i tourer off my car allowance.I’m waiting for details of my employer’s scheme and see what the prices are, compared to normal PCP etc.
I guess the benefit of SS is that you don’t need a deposit, if that is a concern.