Y it is a great time to salary sacrifice a Tesla!
Y now?
Last week, Tesla dropped their prices by as much as £8,000!
That means it is even more affordable with the Electric Car Scheme using salary sacrifice!
The price drop has affected both the Tesla Model 3 and Tesla Model Y.
The Tesla Model Y Performance price fell by a whopping £8,000 and now costs £59,990 - from £405 per month with The Electric Car Scheme
The price drop now means that the Tesla Model 3 Long range fell from £6,500 so with the Electric Car Scheme you can get your hands on one from as low as £348 a month!
Why have they dropped the price so drastically?
Nobody is really sure, but it could be due to the rising demand and competition in the electric car market. It could also have something to do with the fact that Tesla produced more cars than it sold in 2022. So they have all these cars just waiting for you to salary sacrifice one of the best car on the market!!
How do I get a Tesla with The Electric Car Scheme?
Rather than leasing a car through the usual channels, you could lease a car through salary sacrifice. So, rather than paying for a car with your post-tax (or net) income, you can ‘sacrifice’ a portion of your salary before any income or National Insurance is paid.
The example breakdown of a entry-level Tesla Model Y - Assumes 4 year lease starts on 17/01/2023 *Prices are indicative as the best deals on the market change daily. Assumes a higher rate taxpayer.
A car through The Electric Car Scheme is an employee benefit provided to you through your employer. This makes it a ‘company car’, and therefore requires a car tax payable known as the “benefit-in-kind” (BIK) tax. This value is set by the HMRC and is set at a very low rate until 2028 at least.
Even though the benefit-in-kind rate is taxable, once salary sacrifice is applied to electric cars the value is low - making The Electric Car Scheme extremely cost effective for employees.
Visit our salary sacrifice calculator or book a call with an EV Specialist to get your hands on an electric car!