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Anyone noticed the deals on leasing an EV through Octopus? From £229 (includes vat) a month with servicing, maintenance and repair included, plus 6 months free home charging when you order in March. Aside from insurance and possibly tyres (not sure if they’re included in the maintenance), surely this has the potential to compete with Motability, particularly if you’re not using all your PIP mobility award? https://octopusev.com/cars
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It says the Salary Sacrifice scheme includes insurance. Also, usually with Salary Sacrifice there’s no deposit or credit checks. If you’re working and your employer offers it, this could be as cheap as Motability.
Enyaq EV
The Octopus Salary sacrifice is not particularly cheap when compared with motability, my company run the scheme. I picked up a Ioniq 5 Ultimate from motability in September the advance payment was £2,000 add in the approximate monthly PIP payment of £300 x 36 = £10,800 so total payment over 3 years is approx £12,800
The Octopus salary sacrifice scheme, no upfront payment, but the last time i checked, the Ioniq 5 ultimate (for my salary) was a net payment out of my wages of approx £550 per month, so over 3 years £19,800 so a good £7k more than motability.
They do however, offer a much wider selection of vehicles and specs.
I don’t think Octopus “personal” includes insurance, so thats somthing to bare in mind.
Megane Etech Tecno –
Motability £495 + sacrified benefits = £12,023.40 based on April’s rates
Octopus Personal (closes’t match to AP and realistic 8000miles)
£474 deposit + 36* £474 = £17538
Doesn’t Motabiliity get cars VAT free? I can’t see a scheme with VAT ever matching or beating Motability.
Skoda Enyaq Race Blue
Doesn’t Motabiliity get cars VAT free? I can’t see a scheme with VAT ever matching or beating Motability.
Agreed, but Motability funds the Motability charity Foundation. It also makes large profits and pays staff well above the average wage for the sector. This together with increasing AP’s is making it very expensive. Private lease companies together with salary sacrifice, whilst not being as cheap, should start to get close on price in the coming years.
Enyaq EV
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