[Closed] Tusker for EV SS Lease

Not EV, but we had Tusker at our place. When it first came out, dozens of my colleagues jumped at it, but not one has renewed after the initial 3 (I think) year term...lots of arguments on hand back.

Interestingly, not one member of the finance team thought it was a good deal because of the impact on the pension - most of them have lease cars so not averse to the concept of renting a car.

Interesting, we're used to the hand back process from previous leases arguing over chips and scratches, will be sure to ask about pension impact though. thanks

We only get the option of ULEV or EV but this should hopefully help.

*Please note the below estimated price is based on an average user profile and may vary significantly depending on your age, mileage, term, salary and postcode. (40 year old, 5000 miles per annum, 36 months, 20% tax payer and SN4 9QW)

Smart ForTwo
FROM £167* P/M
Smart ForFour
FROM £196* P/M
Nissan Leaf
FROM £246* P/M
Volkswagen up!
FROM £250* P/M
Peugeot 2008
FROM £255* P/M
Fiat 500e
FROM £266* P/M
MG Motor UK MG5
FROM £279* P/M
Vauxhall Corsa
FROM £289* P/M
Peugeot 208
FROM £291* P/M
Hyundai KONA
FROM £291* P/M
SEAT Mii
FROM £294* P/M
MINI Hatch
FROM £297* P/M
Volkswagen ID.3
FROM £301* P/M
Mazda MX-30
FROM £318* P/M
Renault Zoe
FROM £318* P/M
DS Automobiles DS 3
FROM £327* P/M
Citroen C4
FROM £328* P/M
Hyundai IONIQ
FROM £329* P/M
Vauxhall Mokka
FROM £329* P/M
MG Motor UK MG ZS
FROM £340* P/M
BMW i3
FROM £348* P/M
Peugeot Rifter
FROM £353* P/M
Mercedes-Benz A Class
FROM £361* P/M
Kia Niro
FROM £362* P/M
Volkswagen ID.4
FROM £363* P/M
Toyota Prius
FROM £371* P/M
Volkswagen Golf
FROM £378* P/M
Kia Soul
FROM £381* P/M
Audi A3
FROM £382* P/M
Kia XCeed
FROM £390* P/M
Mercedes-Benz CLA
FROM £390* P/M
MINI Countryman
FROM £390* P/M
SEAT Leon
FROM £395* P/M
Honda Honda e
FROM £398* P/M
Skoda Enyaq iV
FROM £412* P/M
CUPRA Formentor
FROM £416* P/M
Skoda Superb
FROM £416* P/M
Citroen C5 Aircross
FROM £416* P/M
Renault Captur
FROM £416* P/M
DS Automobiles DS 7
FROM £419* P/M
CUPRA Leon
FROM £421* P/M
Hyundai IONIQ 5
FROM £422* P/M
Citroen Berlingo
FROM £425* P/M
MG Motor UK MG HS
FROM £426* P/M
Lexus UX
FROM £430* P/M
Ford Kuga
FROM £436* P/M
Renault Megane
FROM £437* P/M
Peugeot 3008
FROM £439* P/M
Skoda Octavia
FROM £440* P/M
Volkswagen Tiguan
FROM £448* P/M
BMW X1
FROM £449* P/M
BMW X2
FROM £458* P/M
BMW 3 Series
FROM £460* P/M
Mercedes-Benz B Class
FROM £475* P/M
Volvo XC40
FROM £476* P/M
Hyundai Tucson
FROM £480* P/M
Mercedes-Benz GLA
FROM £488* P/M
Audi Q4 e-tron
FROM £489* P/M
Audi Q3
FROM £494* P/M
Mercedes-Benz E Class
FROM £499* P/M
Tesla Model 3
FROM £501* P/M
Peugeot 508
FROM £505* P/M
Volkswagen Passat
FROM £507* P/M
Land Rover Range Rover Evoque
FROM £508* P/M
Volvo V60
FROM £508* P/M
Polestar Polestar 2
FROM £522* P/M
Mercedes-Benz EQA
FROM £529* P/M
Hyundai Santa Fe
FROM £536* P/M
BMW X3
FROM £545* P/M
Kia EV6
FROM £555* P/M
Audi e-tron
FROM £562* P/M
Kia Sorento
FROM £567* P/M
Toyota RAV4
FROM £574* P/M
Ford Mustang MACH-E
FROM £578* P/M
Volkswagen Arteon
FROM £581* P/M
Volvo XC60
FROM £594* P/M
Volvo V90
FROM £596* P/M
Jaguar E-PACE
FROM £597* P/M
Suzuki Across
£604* P/M
Audi A6
FROM £615* P/M
Audi Q5
FROM £616* P/M
Mercedes-Benz EQC
FROM £618* P/M
BMW 5 Series
FROM £626* P/M
Jaguar I-PACE
FROM £629* P/M
BMW i4
FROM £635* P/M
Land Rover Range Rover Velar
FROM £641* P/M
Mercedes-Benz GLC
FROM £642* P/M
Volvo S90
FROM £642* P/M
Volvo S60
FROM £643* P/M
Land Rover Discovery Sport
FROM £644* P/M
Jaguar F-PACE
FROM £662* P/M
Mercedes-Benz EQV
FROM £699* P/M
Audi A7
FROM £712* P/M
DS Automobiles DS 9
FROM £730* P/M
Volvo XC90
FROM £734* P/M
BMW X5
FROM £736* P/M
BMW iX3
FROM £747* P/M
Audi Q7
FROM £751* P/M
BMW iX
FROM £782* P/M
Mercedes-Benz GLE
FROM £837* P/M
Land Rover Range Rover Sport
FROM £858* P/M
Audi A8
FROM £863* P/M
Porsche Taycan
FROM £916* P/M
BMW 7 Series
FROM £927* P/M
Land Rover Defender
FROM £946* P/M
Porsche Cayenne
FROM £1003* P/M
Audi e-tron GT
FROM £1020* P/M
Audi Q8
FROM £1067* P/M
Porsche Panamera
FROM £1130* P/M

is that a tusker list? That's pretty comprehensive!

Do you happen to work for a big construction company?

We have Tusker as our salary sacrifice scheme for cars.
The only quotes I’ve had were astronomically expensive (Hyundai Kona EV, £600+ per month!)
And from people who’ve used them previously and sent cars back at the end of the term they were incredibly strict with regards wear and tear/damage and some colleagues got eye-watering, expensive bills upon returning cars.
I’d not go near them personally.

I don't know who does our lease scheme but it's very expensive. Because if you shop around you can get severely discounted special offers from whoever is offering them,

We had Tusker at my previous place, and when our old family wagon curled up it's toes and rolled over, I had a look at the options for completeness' sake.
I noped away from it pretty quickly; aside from the pension impact thing, I could get a loan for a two year old version of the (ICE) car we were looking at and pay it off over three years for less than the monthly lease cost on a new one we'd have to return at the end.
The maths will be entirely different for EVs, granted - and I'm not looking forward to replacing the new(er) Octavia estate we got back then if EV pricing stays the same.

is that a tusker list? That’s pretty comprehensive!

Yeah I just did a copy/paste off the website (after going in via work).

There has been a remarkably low uptake since we started our scheme, certainly a lot of the quotes people on here come out with work out a lot cheaper. Doesn't help having the axe hanging over the site either mind..

That's a fairly comprehensive list. Did those "start from" figures include insurance, tax and maintenance and no upfront cost? I remember reading their prices are inclusive of these things - all you do is charge (and pay the lease of course).

Prices on EVs are good although there is variation between models. We have a leaf that costs 230/month out of net salary. That includes servicing, breakdown, tyres, insurance and the car.

10000 miles/year mileage.

The hybrids/normal engined cars are not great value as others have said but the EVs are pretty good for the most part.

We used to use Tusker but changed to Zenith. Now on the way back to Tusker apparently?

From what I remember they had a very wide range of cars available and seemed cheaper than Zenith. Looking at the figures above though they are now more expensive as my i3s doesn't cost that much with higher mileage allowance.

The pension issue was sorted for us so ours was not affected, although we paid more. Mine's up a year in May so I'll look at Tusker but may well go back to buying my own car.

EVs have lot lower maintenance costs so should be proportionately cheaper although their purchase price is o lot higher which sort of offsets it. Might help with higher mileages though

I’ve just signed up to a new EV from Tusker, via salary sacrifice. Whilst it looks pricey, all in it works out cheaper than the current PCP (and maintenance, tyres etc.) and that’s before you take into account elec vs diesel prices per mile. My company does it so that neither Pension contributions (mine or the company) is affected. Whilst I think the price of the car and maintenance package is probably towards the higher end (ie than if you shopped round and did it yourself) the salary sacrifice element makes it a complete no brainier. Saves me a few hundred quid a month, moves to main car away from fossil fuels and simplifies my motoring costs/budget.

We had the same delay when the company teased it and then launched it. But once done it’s been a doddle to browse, configure and order a car.

I’m about to order an EV through Tusker too. Need to read the small print regarding pension.
We’re they easy to deal with? How long did the ordering process take?

I think the affect on pension is administered by Payroll, not Tusker so you’d have to speak to your HR. Honestly, so far it’s been the easiest car ‘purchase’ I’ve made to date. Super straight forward. We had a couple of people in from Tusker that have webinars on the scheme with Q&A sessions which was useful. the biggest bind is the massive wait list, but that’s the same for any new car at the min.

That’s good to know, thanks. Luckily my wait time is only about 20weeks! Actually means the car should arrive in time for my pay rise, so works out well.

Seriously considering the MG ZS EV.

Ahh yes, of course the pension is related to pay roll. I’ll have better luck asking Tusker about it 😩

We're with Tusker. Admin fee is outrageous but still cheaper than traditional PCP for someone in 40% bracket. The admin fee is actually the result of negotiation between Tusker and your employer. Mine makes some profit on it, apparently, but others might have better deals.

The cynic in me reckons that any employer will make a 'profit' (saving') if they don't back fill the pension contributions.

If your employer pays 5% of your salary in pension contributions, then that 5% will reduce by the amount of your salary sacrifice.

e.g. £2,000 monthly gross salary with 5% employer pension contributions costs the employer £100.

Take a car on salary sacrifice and the monthly gross salary drops to say £1,800 (£2k less a £200 monthly lease).

So the employer now pays £90 in pension contributions, so is saving £10 a month because they now pay 5% on the £1,800 instead.

Same also for employer's National Insurance Contributions. They save there too.

Being the cynic, I reckon that's why these salary sacrifice schemes are popular. They save the employer money. And that's before the employer gets a kick back / cut of the admin fees from the lease company.

Caveat emptor.

So the employer now pays £90 in pension contributions,

and, more importantly, a tenner a month less goes into your pension from them. And, if your pension contributions are a %age of salary, the amount you're paying in will drop too. And no-one, pretty much, is putting enough into their pension anyway. I know I'd rather have a comfortable retirement than a slightly newer car now.

It does depend on the employer though, all mine have had a 'pensionable/full salary' which is what they base their (and your) pension contributions on and a 'notional salary' which they base any flexible benefit/salary sacrifice/c2w/holiday purchase type stuff on.

Correct, if your employer makes the decision to reduce your pension based on your reduced 'salary sacrifice' salary, but not if like mine they maintain pension contributions based on the Headline salary figure.

I realise I'm pretty fortunate in this regard. I think for e.g. the NHS do reduce salary contributions for salary sacrifice schemes. Be interested to know other's experience on this.

EDIT: Apologies @IHN realise that's repeating what you said at the end.

Ha, if you're on final salary it makes no odds whether your employer reduces the contributions!

So might the NHS (and other employers) offer these schemes to people on final salary pensions?

My wife has been with the NHS for 12 years and is not on a final salary, I think it's career average. However when she looked into a lease car via her work it somehow affected her overall pension at the end. For that reason we backed away (losing several years contribution due to babies hasn't helped) But this was a few years ago so would have to look at the details of why/how again. As others have pointed out, definitely not a benefit if your pension is being curbed, and would be a cynical ploy by en employer if they did so.