Tesla Model 3 contract hire through salary sacrifice £307 per month

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Posted 8th Feb 2020
The monthly cost for a Tesla Model 3 Standard Range Plus with no deposit down over 48 months could be roughly £530, but under salary sacrifice for a higher rate taxpayer it effectively costs 42 per cent less, or £307 of the wages they would normally see per month.
And for a basic rate taxpayer it effectively costs 32 per cent less, or £360 of the wages they would normally see per month.

This saves you both national insurance and income tax, which for a basic rate taxpayer is 32 per cent and a higher rate taxpayer 42 per cent.

Tesla cars are eligible for a 0 percent BIK rate in 2020/21. The BIK rate will rise to 1 percent in 2021/22 and to 2 percent in 2022/23.

The average petrol or diesel vehicle has a BIK rate of 20 to 37 percent.

thisismoney.co.uk/money/cars/article-7970367/amp/The-electric-car-salary-sacrifice-tax-break-save-40.html

If you get British Gas Electric Vehicle Tariff which cost 4.7p per KWH electricity between 12AM to 5AM. It will cost about £7 for a full charge for 200-250 miles. You’ll save about £100 pcm on fuel & servicing (more or less depending on your annual mileage). Which brings the effective cost down to £307-£100 = £207 pcm if higher tax payer or £360-£100 = £260 pcm if basic rate tax payer for Tesla Model 3 Standard Range Plus. Even more savings if you’re commuter to London Congestion Charge and Ultra Low Emission Zone.

Tesla vehicles are exempt from the daily London Congestion Charge of £11.50. The cost of commuting into London by car for 3 years could be up to £8,970

Tesla vehicles are able to access the London Ultra Low Emission Zone, without paying the noncompliance fee of £12.50. The current Central London ULEZ is due to expand significantly from Central London to cover a much larger zone in October 2021. The cost of paying the ULEZ over 3 years could be up to £13,650, when driving into the zone on a daily basis.

Too many savings depending on individual circumstances and preferences.
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