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      09-28-2024, 08:28 AM   #29
HampshireUK
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Drives: BMW X3 M40i (2019)
Join Date: Oct 2016
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Quote:
Originally Posted by BlkGS View Post
I don't think this is really a common thing in the US. Is the idea that you're supposed to be able to get it cheaper through your employer or something?
Correct a scheme that takes the money before tax, only on electric cars typically. So on Ioniq 5N it takes about 40% off the monthly cost, you pay no deposit, no insurance, no vehicle tax and all maintenance and servicing included for 2,3 or 4 years.

An electric car salary sacrifice is just like these other benefits, only you use your pre-tax salary to pay for an electric car. This costs you less because your income tax and National Insurance contributions are based on your income after your salary sacrifice payments – so you aren’t taxed on the portion used to pay for the electric car “
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