Salary sacrifice 4s vs Turbo

[Gavgolf]

Onto is an expensive way of getting in a car!! I’m paying £600 pm on an ID3 and my £129k taycan turbo is only £1100!!

£500 marginal cost per month is nothing for such a delta in vehicles!

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[Mattyh]

Yeah I had a quick look a vauxhall mokka is like 500 a month lol I’d literally feel depressed driving that. Rather spend an extra 500 on a Taycan and actually enjoy it!

 

[TaycanHero]

Yeah I had a quick look a vauxhall mokka is like 500 a month lol I’d literally feel depressed driving that. Rather spend an extra 500 on a Taycan and actually enjoy it!

Honestly, life is too short.

Get the Taycan!

(But heed our advice)

 

[Fish Fingers]

My 2p (for what is worth).

Me being me, I would be concerned about a number of things in the OPs situation:

1. Being tied to an employer to have my car. Its a big emotional commitment for a lengthy period of time. (I never could work for other people though!).

2. Above in the face of almost certain recession. If your job goes, your car goes.

3. Potential Govt changes to taxation / salary sacrifice / EV car ownership.......its too good to be true currently.
The Govt will likely change things once EV uptake increases. Its mostly wealthy people getting new EVs... Easy pickings for any new (Labour) govt.

4. Slow delivery times for salary sacrifice compared to other buyers.

5. Handing it back after the term and having nothing and starting again. It's like renting a very nice property.

5a. I am much closer to the end of my career and its now important that when I retire I own things. Salary sacrifice is not much use when you are retired and on the bus.

All that said......

If I was young and in the OPs position would I do it. Absolutely!
You are only young once. Enjoy it.

When you are young you are also very resilient to changing circumstances.

 

[WRC_1S]

Get the car mate. There are lots of benefits and issues to Salary sacrifice cars just as there are to every method of procuring a car. I've had Salary sacrifice cars for years as my daily driver, and also own cars at the same time. If you think you can afford it get it. Don't listen to other people's lifestyle choices because it's their choices not yours. You are a long time dead. Get the car.

 

[Lansford]

I get to floor mine... never.

 

[AGDunc]

I'm also ordering a GTS via the Tusker salary sacrifice scheme. My order is (was) due for late December this year, but we'll see. This is my spec:

http://www.porsche-code.com/PN5TY9G8

The reason for the reply to this thread is to add some comments on the 'value' of the salary sacrifice deal. The Tusker agreement covers much more than just the car. In my instance it also pays the insurance costs for 2 drivers (myself and my wife), all maintenance (including tyres), they are paying for the cost of a tracker to be fitted (and the subscription fee), and I get the option to buy the car at the end of the agreement. It might be possible to find a PCP for a similar cost, but you'll be making a big deposit upfront (which isn't required at all on the salary sacrifice agreement) and all of the above would need to be paid for on top.

Also, I have opted for a 3 year lease BUT I have the option to cancel the agreement, for any reason, at zero cost after 3 months. This means I don't need to worry about the economy doom mongering that some people have mentioned as this scheme actually gives me much more protection from a downturn. If I were to buy a car outright I may struggle to sell in a downturn (not that I could finance an all out purchase anyway), and it I leased or bought via HP/PCP I would still be liable for the payments until the end of the agreement, regardless of my circumstances.

Finally, I test drove a Turbo in Colchester before I put in my order and told the sales rep the costs I was looking at for my lease and what it included. He told me he couldn't even get close ...

 

[Mattyh]

Looks good in red mate. Yours has more options that mine. I don’t want the price to go up anymore lol what’s the monthly price you’re paying if you don’t mind sharing?

hiw did the gts feel compared to the turbo? I’m driving one on Saturday.
when did you order yours?

 

[AlexR]

What is the feedback Turbo v GTS? I am collecting Turbo tomorrow so any comment other than "the Turbo rules all" will not be well received.

 

[Mattyh]

The turbo was too much end so it was between the gts and the 4s. Drive the gts at the weekend and it definitely felt faster, was really impressed and I ordered it today!

 

[Dimebag]

The turbo was too much end so it was between the gts and the 4s. Drive the gts at the weekend and it definitely felt faster, was really impressed and I ordered it today!

We knew you would lol

 

[Mattyh]

We knew you would lol

Haha it had to be done!

 

[DJ-UK]

Regarding Salary Sacrifice and to check my own understanding; assuming the monthly repayment is £1100 as stated earlier, if this was taken as Salary you would actually get £605 (assuming 45% higher tax bracket which is probably fair considering the car). So that means the actual cost over 3 years is £21,780. Are people saying they think the Taycan (with extras to get to £1100) will loose less than £21,780 after 3 years? I would think the chances of it losing more than this are high, but I might be wrong. Via the lease, no risk. Not sure when the purchase route would pay off, but I guess it’s some point between 6 and 9 years.

 

[Midlifecrisis]

I think cost would be even lower if you take out NI and pension contributions

 

[Bigben]

Regarding Salary Sacrifice and to check my own understanding; assuming the monthly repayment is £1100 as stated earlier, if this was taken as Salary you would actually get £605 (assuming 45% higher tax bracket which is probably fair considering the car). So that means the actual cost over 3 years is £21,780. Are people saying they think the Taycan (with extras to get to £1100) will loose less than £21,780 after 3 years? I would think the chances of it losing more than this are high, but I might be wrong. Via the lease, no risk. Not sure when the purchase route would pay off, but I guess it’s some point between 6 and 9 years.

No because your employer pays the full whack £1,100 to the lease comp. You only feel a 55% impact on your net (+2% BIK so not quite true, say 60% of true cost). Est. £100pm goes towards interest, insurance & maintenance, that’s £36k towards depreciation over 3yrs.
It still means a big bet on high residuals but the whole Leasing market is reliant on those RVs to remain attractive, especially as IRs are on the rise…

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