Purchasing Tesla Model 3 as company car

daveyjoe · 16-01-2023 2:07pm #1

I am the director of my limited company and I would like to purchase a Model 3 as a company car for myself. The main reason to buy it through the company is the Benefit-in-Kind tax advantages.

I've got the OK from my accountant. How do I actually go about purchasing it? If I try to buy on Tesla.com then it seems to apply the €5,000 SEAI grant (instead of the €3,800 grant for commercial vehicles).

bf · 16-01-2023 2:12pm

If you buy through a company, your are not eligible for any grant. When going through to purchase - when you change purchaser type from personal to business the price will jump by E5k (assuming it was eligible for grant). So a standard M3 will go from 44k to 49k

Note current BIK deduction for vehicles is 35k, so you’ll pay BIK on 14k odd this year. Next year, threshold reduces to 20k, so you will pay BIK on 29k

Buddy Bubs · 16-01-2023 10:28pm

Correct, no grant for companies buying it. And you'll get BIK increasing from this year onwards. I looked into it buying my EV but in the end, bought it myself and claim expenses for the use of it.