Thoughts on this Kia sportage lease deal please

rodenal

It does seem that way with the majority of deals, though I did see a cracking deal on a reasonable spec 170 tdi Superb recently that (on the face of it) would beat any HP if bought new

Yolina

Not so much about the deal itself, but have you looked into the possible implications of salary sacrifice and are you ok with it? If you get paid overtime for instance, is your employer basing the rate on your "new" lower post-sacrifice salary or are they keeping that linked to the old one. Same goes for salary increases etc.
Maybe you've already looked into all that but if not it might be worth checking beforehand that it actually works out in your favour.

1jim

geek1981 wrote: »

I think HP works out better than most PCPs atm. i was doing some maths for a new Qashqai recently.

By hp do you mean getting a loan for the full amount to leasing? Sorry that's probably a daft question

1jim

Yolina wrote: »

Not so much about the deal itself, but have you looked into the possible implications of salary sacrifice and are you ok with it? If you get paid overtime for instance, is your employer basing the rate on your "new" lower post-sacrifice salary or are they keeping that linked to the old one. Same goes for salary increases etc.
Maybe you've already looked into all that but if not it might be worth checking beforehand that it actually works out in your favour.

Good question, I thought I had looked into this and have just rechecked and the t&c state



14. General Administration

Will there be any changes to my payslip?
Yes, your payslip will show your reduced gross salary.

It is important to note that all future pay increases and employee benefits will continue to be based on your Notional Salary. This is your level of salary prior to the Scheme adjustment. Replies to any enquiries from banks, building societies and other lenders will also quote your Notional Salary.

So I think payslip will show change in salary but for all intents and purposes pay rises etc will be based on the real salary pre deductions

geek1981

1jim wrote: »

By hp do you mean getting a loan for the full amount to leasing? Sorry that's probably a daft question

Could be a daft question when considering your salary sacrifice and saving on tax. Otherwise If you are going for personal lease many HPs works out much better if you intend to keep the car for 4-5 years.
To me, total amount repayable over the period is much higher for PCP. but after all it all depends on how long you intend to keep your car!

Also HP from manufacturer doesn't work like a Bank Loan. There are many benefits like giving your car back after half term if your circumstances change, which i think is really important for some people at the current market.