The Tesla Model S in numbers
- P11D £64,380
- Company car tax band 5%
- Benefit in kind £3,219
- Monthly company car tax 20% £54
- Monthly company car tax 40% £107
- Based on a Tesla Model S 85 kWh Auto, tax year 2015/16
WE know that if you can afford the considerable expense to buy a Tesla Model S , the savings as a company car driver are considerable. But what’s a Tesla like to live with on a day-to-day basis? We caught up with new owner, Min Bhogaita, to find out.
Min has always been ‘a company car kind of guy’, working his way through Mercedes, Lexus and his last car being a Jaguar. As soon as he got his first promotion, his main thought was , “Wow, now I can choose my car! Now, every 3 years, I have the option to pick a new company car.”
Working in the field of technology and analytics, what are top of Min’s wish list for a company car? “I like something that is different to other cars on the road, cost efficient from a company car tax point of view, and in equal measure has the best tech.”
No surprise that the amazing features and tech were the first things that attracted Min to the Tesla Model S as a company car, when he came across the car in his local shopping centre at Westfield White City. “It was simply like going forward 10 years into the future. After spending many hours looking at YouTube videos about the car, I had already done all my homework regarding the functions available through the amazing 17” console, the regular updates to the software and, of course, no more filling up at the petrol station.”
Ah yes, but was the fact that the Tesla was electrically powered as much of a pull as the tech then Min? “Yes, I was pleased that I was eligible for a large discount on the price of having a charging point installed in my garage and I was pleasantly surprised at the fast growing network of charging points across the country.”
The company car running costs for his Tesla Model S also proved to be a bonus for Min too, after paying over 25% Benefit In Kind (BIK) tax for his previous Jag. “It is nice that the tax I have to pay is just 5%, which means that even though the Tesla is about 40% more expensive in terms of upfront price, I will be making a great saving over the next three years. It works out at approx. £3,000 for my Model S, compared to £8,500 for the Jaguar.