Would the Tesla Cybertruck work on salary sacrifice?

Would the Tesla Cybertruck work on salary sacrifice?

Posted by

Charlie Strand

June 2024

This is an interesting question: can you get the Tesla Cybertruck on a salary sacrifice scheme from Fleet Alliance?

Current answer is, alas, no.

But that didn’t stop Fleet Alliance addressing the issue at the Tesla Centre Glasgow where the dramatically shaped pickup truck was on display at the beginning of June as part of a tour of the UK.

The Cybertruck is the latest product from Elon Musk’s Tesla empire, but is currently only on sale in America where it is manufactured in Austin, Texas.

Two things are notable about the Cybertruck. The first is its odd, angular design. Boxy and dull from the rear, but glance down the rear three quarters view and you have an exhilarating, futuristic design.

The second is you can’t dent it. All Cybertrucks come in the bare finish of the ultra-hard 30X cold-rolled stainless steel. Which perhaps explains the slabbiness of the ‘planar’ design – or the cyber punk look, depending on how you view it! But kick it – and there’s no deformation of the panels.

However, that tough structure could be one of the reasons the Tesla Cybertruck won’t be coming to the UK anytime soon. At least in its current format. Because it will need to have a deformable structure at the front to absorb energy in the event of a crash – exactly what the Euro NCAP tests are designed to reveal. Not to mention modifications to meet Vulnerable Road User Protection should the vehicle strike a pedestrian.

 

Tesla Cybertruck on show
Tesla Cybertruck on show in Glasgow

So we’ll wait and see if Tesla makes the necessary changes to meet European road requirements.

In the meantime, though, even if you might not be able to get the Cybertruck on salary sacrifice, there are plenty of other Tesla models that are available. In fact, the Tesla Model 3 is the most popular EV model that Fleet Alliance customers order, while in second place is the Model Y followed by the MG4.

More than that, the Tesla Model 3 is the most ordered vehicle from customers overall at Fleet Alliance.

This was something that Fleet Alliance’s Grant Boardman, Marc Murphy, Darren Stevens and Stewart Watson were keen to convey to an audience that comprised Tesla HQ staff along with Glasgow-based Lex Autolease Regional Managers with whom Fleet Alliance has a long-standing relationship, in a presentation about the fleet management services the company provides.

Fleet Alliance’s Grant Boardman, Marc Murphy, Darren Stevens and Stewart Watson with Tesla HQ staff and LEX Autolease Regional Managers

These range from the cost saving competitive tendering process that ensures the best available rental on the day is secured from a panel of funders, to flexi hire rentals that support vehicle and driver uptime.

But most interest centred around EV salary sacrifice, one of the great sustainable employee benefits for staff that addresses the issues of staff recruitment and retention.

Grant explained how salary sacrifice tax breaks can offer a more cost effective rental by spending gross salary before tax on an electric car, than choosing a personal lease with net salary post tax and National Insurance.

“The difference between leasing a Tesla Model 3 yourself and acquiring it through salary sacrifice is £382,” Grant explained. “Over the three year term of the contract that amounts to £13,762. Think how you would like to spend that money you have saved!”

He added that all insurance and maintenance costs were included in the salary sacrifice rental and there was no requirement for a three or six month rental in advance. “There’s also no impact on your personal credit line, so the benefit is really quite substantial,” he added.

So while the Tesla Cybertruck remains off sale in the UK, staff at Tesla’s Glasgow HQ can enjoy the benefits – environmental and financial –  of driving the ultra popular Model 3 and Model Y  through salary sacrifice. And dreaming of what they might do with the money saved by going down the salary sacrifice route.

 


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