Hi Tesla owners
Hope everyone is well.
I have ordered a Tesla Model S through my company and my cooling off period ends tomorrow and would love some advice please as not sure whether to cancel or not! I run a small company and have never considered a company car and especially never considered such an expensive car before but the 100% FYA allowance may just be too good to turn down! Some questions below...
1. I don't think I can justify the extra expense on the enhanced autopilot. As much as I'd love to show it off to friends, is it really necessary though?! My commute to work every day is about 18 miles each way. Drive takes about 25 - 30 mins on average and am on the motorway for about 10 mins of that journey. There is occasional traffic but not usually anything too bad. I understand the new models won't have any autopilot features at all if I don't add the enhanced one on. What are people's thoughts?
2. Anyone got solid black paint & happy with their decision? Again trying to keep costs down but like the look of the midnight silver!
3. For business owners...with the £4,500 plug in grant and the 100% FYA would it be stupid not to jump on board now while I can?! I'm conscious of the Model 3 coming out and being more affordable but not sure I can wait until early 2019 now as my leased Qashqai runs out end of this year. Plus after test driving the Tesla I'm not sure I can last that long anyway!
4. When trying to work out finances, Tesla told me the BIK tax for next 3 years was 9%, 13% and 16% but 2020/21 hasn't been announced yet. But when I searched for this online it seems HMRC have proposed it be 2% that year. Does anyone know if this is accurate? Even if it's just a proposal, surely this will mean it will be at least under 10%?
5. Is anyone in the middle of a PCP with Tesla? I just wonder if they work like other car dealers and offer to exchange your car before the end of your agreement? I would be taking a 48 month PCP with them but potentially would want the Model 3 after 2 or 3 years. If I downgraded would that work in my favour with the equity etc? My big concern is when the vehicle is sold later, the income from the sale is considered as 100% profit and taxed accordingly. So if I give the Model S back at the end for the GFMV of £30K, I will personally have to fork up the £6K tax bill. Just wondered if I can do things to get that figure down at all, like exchanging for the Model 3 for example!
Ok that's all for now I think. Sorry for so many questions but this decision is driving me crazy! The alternative is just outright leasing a Q3 or A5 or something for 3 years where at least I'll be 100% sure what my payments are. I'm also on the cusp of the higher tax bracket which would double the BIK every year so there's a lot of unknown factors around the Tesla. Problem is I've now driven one
Cheers
Paul
Hope everyone is well.
I have ordered a Tesla Model S through my company and my cooling off period ends tomorrow and would love some advice please as not sure whether to cancel or not! I run a small company and have never considered a company car and especially never considered such an expensive car before but the 100% FYA allowance may just be too good to turn down! Some questions below...
1. I don't think I can justify the extra expense on the enhanced autopilot. As much as I'd love to show it off to friends, is it really necessary though?! My commute to work every day is about 18 miles each way. Drive takes about 25 - 30 mins on average and am on the motorway for about 10 mins of that journey. There is occasional traffic but not usually anything too bad. I understand the new models won't have any autopilot features at all if I don't add the enhanced one on. What are people's thoughts?
2. Anyone got solid black paint & happy with their decision? Again trying to keep costs down but like the look of the midnight silver!
3. For business owners...with the £4,500 plug in grant and the 100% FYA would it be stupid not to jump on board now while I can?! I'm conscious of the Model 3 coming out and being more affordable but not sure I can wait until early 2019 now as my leased Qashqai runs out end of this year. Plus after test driving the Tesla I'm not sure I can last that long anyway!
4. When trying to work out finances, Tesla told me the BIK tax for next 3 years was 9%, 13% and 16% but 2020/21 hasn't been announced yet. But when I searched for this online it seems HMRC have proposed it be 2% that year. Does anyone know if this is accurate? Even if it's just a proposal, surely this will mean it will be at least under 10%?
5. Is anyone in the middle of a PCP with Tesla? I just wonder if they work like other car dealers and offer to exchange your car before the end of your agreement? I would be taking a 48 month PCP with them but potentially would want the Model 3 after 2 or 3 years. If I downgraded would that work in my favour with the equity etc? My big concern is when the vehicle is sold later, the income from the sale is considered as 100% profit and taxed accordingly. So if I give the Model S back at the end for the GFMV of £30K, I will personally have to fork up the £6K tax bill. Just wondered if I can do things to get that figure down at all, like exchanging for the Model 3 for example!
Ok that's all for now I think. Sorry for so many questions but this decision is driving me crazy! The alternative is just outright leasing a Q3 or A5 or something for 3 years where at least I'll be 100% sure what my payments are. I'm also on the cusp of the higher tax bracket which would double the BIK every year so there's a lot of unknown factors around the Tesla. Problem is I've now driven one
Cheers
Paul