ACCOUNTANT EXPLAINS: How to Buy a Tesla Half Price

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In this video, we cover how you can get an electric car for nearly half the price.
⌚TIMESTAMPS:
00:00 - Intro
00:38 - How the "discount"/savings work
06:32 - Other Financial factors to consider
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DISCLAIMERS & DISCLOSURES
This content is for education and entertainment purposes only. Nischa does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
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Пікірлер: 556

@nischa Жыл бұрын

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@great4ever845 Жыл бұрын

What's your number?

@facelessfx95 6 ай бұрын

what about fuel / hybrid plug in

@Caveman227 Жыл бұрын

The title is misleading. The tax deductible and benefit in kind is applicable only to company cars

@JoshHitti Жыл бұрын

How is it misleading? It says how to, not how every Tesla owner does it

@SPYSpreads Жыл бұрын

She should have put in title buy cheap or free car as a business owner 🤷🏻‍♂️

@FMD023 Жыл бұрын

She was being conservative and I 100% agree with her. She knows what she is talking about because you will end up saving more than half off a Tesla. With an EV grant and rebate I got for buying a 2021 model Y, I am practically paying only 3-4K out of pocket for a 58k car. You are most likely one of those people that will penny pinch hiring a CPA if they charged you $2500 to file your taxes.

@DI-hd6st Жыл бұрын

She knows her stuff, thanks

@hbgriss 11 ай бұрын

So make up a company. Ne smart. What do you think 95% of “business owners” do?

@syeeeed Жыл бұрын

Loving your growth! Disovered you with 10k subs and you've changed the game so quickly. Fantastic, easy to digest content and delivered well :)

@roscopeco2000 10 ай бұрын

Can you do a video on buying a new EV vs a second hand one? what the tax implications are? I find this subject so very complicated. Also how leasing/ buying out right effects how much you can claim?

@shafiadnan 2 ай бұрын

Any findings?

@richardcorns8553 3 ай бұрын

Hi Nischa, I just found your channel and love it. I have 2 Ltd companies, one investment with 4 properties we rent out and a building company. Just bought a Tesla last year, and i was really surprised how much our CT was reduced. Needless to say, my business partner has just bought a new ev through our building company as the savings are so good. Anyway, I have a backlog of your videos to get through! Keep up the good work.

@TheSilentWealth Жыл бұрын

Do you foresee changes in the tax deductible schemes? Been trying to do so here, but I realise that it still doesn't change the fact that you still need to spend ~$50k to buy the car doesn't it? It seems like for both scenarios individual and company regardless, the method only benefit someone with a good cashflow i.e. not using loan to buy the car.

@cadmuscassey Жыл бұрын

Very well explained in detailed and interesting, I love the buying part of buying a car under a company so the tax is deductible.

@Dave-bh2zr Жыл бұрын

Great clear videos. No waffle or click bait. Very eloquent and it has be said… mesmerising good looks. Wow.

@user-qj1tt1vh3h Жыл бұрын

I've watched a lot of your videos and I've been following you for a long time. Your videos are great

@ssmumich00 8 ай бұрын

Brilliant! In the US, lease was the only way for me to qualify for a Taycan, but with some haggling, got $14,500 off of the base. BTW you have a v non accountant vibe which really works for this channel.

@helgutsa Жыл бұрын

Great video! Can you please create a video about buying a house personally vs buying a house through your company?

@Thomaat116 Жыл бұрын

Thank you for making great content! Very informative content presented in such a nice way. Not the "overhype everything" format you see nowadays on youtube 95% of the time.

@hollywoodactress Жыл бұрын

Really informative on corporations vs individual. I assume if the company bought the Tesla over 3 years or 4 years , then they would have more income after tax left

@juiced009 Жыл бұрын

Nailed it again...Great advice, Thank you🤩

@Zkilll Жыл бұрын

How would you model this under a lease contract (can do different options) the key is how would the company be treating the cost of the monthly cost?

@mikesumray8963 Жыл бұрын

Thank you for this. I have a limited company, but it only profits approx 40k a year. Let’s say I finance the car or take out a business loan, and the payments are £500 a month. Is this £500 fully tax deductible? So say my corps tax is 6k for the year - I won’t get a tax bill? Thanks 😊

@AA-wf2ck Жыл бұрын

Subscribed, liked, and listened Great mindset and overall knowledge! Cheers from Kazakhstan 🇰🇿 🎉❤

@smokedsalmon935 Жыл бұрын

Thanks Nischa, this is what I've been looking for. Can you kindly suggest your opinio on the following scenario: 1) Say I'm employed by org X (different owner). 2) And, I also have a separete company Y that I set up. 3) I invested in my company Y from the salary I got paid from X. 4) I then buy an electric car under the company named Y. Will the car be VAT exempt?

@jozefroman2110 Жыл бұрын

I bought a Tesla from the TSLA gains over last 5 years. 100% off the buy price. 6:43 awesome 🙂

@withlovebyads Жыл бұрын

Hi Nischa, Thank you for this video. What if your company is registered etc but new and so you have not yet started generating profit (still using part of your salary to build your business)? Can you still buy an electric car under your business and personally make the monthly payments for it? Also, because it is under the company name am I right to assume that it will not go against me and my credit score as personal debt?

@chhandab Жыл бұрын

One problem with this is will you get a car finance under your company name because there is no income under its name yet?

@fgj4990 Жыл бұрын

Thanks for great information. One question I have relates to selling an electric vehicle bought outright through a Ltd company. I understand that the car is taxed on the price of any future sale, but what if the car was part exchanged in the future - is the tax liability based on the sale value of the car at that time or the difference / profit made by the company from the part exchange?

@jlrguy2702 5 ай бұрын

On your balance sheet, you would write the PX price of the old car and separately the purchase price of the new car. So that it aligns with the assets held by the company.

@FlowJunkee65 Жыл бұрын

Excellent information. Thank you for sharing. My daughter is considering an electric car and I'm forwarding your video to her.

@reke9942 Жыл бұрын

Is it weird I'm learning more from Nischa than my actual account I pay for. Awesome video.

@circuittoys Жыл бұрын

Great video... unfortunately I'm an employee of a company and have no side hustle that I can use to shield an EV expense. ☹️

@EjBlaze1 11 ай бұрын

I love what you are talking about. I would love to learn more from you about finances period.

@patrick7228 Жыл бұрын

Lol. Loved the eye roll / sigh. The charging time wasted argument always makes me laugh. Scrolling through instagram on your couch for 30 minutes or in your car while it's charging. What's the difference?😂

@nischa Жыл бұрын

Haha I couldn’t resist! 😂

@arthercasillas2755 Жыл бұрын

I did push ups while waiting for my Tesla to charge . I felt like waiting for the charge time , was time wasted. Now I listen to audible or do push-ups.

@littrades7324 Жыл бұрын

So don’t waste time scrolling on Instagram…the time wasted charging is ridiculous

@robertalexander6555 3 ай бұрын

Sounds like you don’t have time management

@anthonyhewkin4258 11 ай бұрын

Thanks for this, very informative. Two questions. If I buy through my limited Co on an interest free deal over 7 years £10,700 deposit plus £428 pm is each payment tax deductible? Also, I’m about to register for VAT. For me to claim the VAT do I need to be registered before I make the purchase. Thanks in advance & best wishes, Anthony

@The_Finance_Guy Жыл бұрын

Awesome video keep the great work up 😃👍

@SoundKing 7 ай бұрын

I was told that you need to have a business for 2 years before you can qualify, is that true? Is there an amount of time you have to have had a business before you can gain from the benefits mentioned in this video?

@emmanuelogbe4038 Жыл бұрын

Many thanks Nischa for another great presentation. Please did you register your company as sole trader or private Ltd company?

@ali5t4ir Жыл бұрын

Thank you for yet another great content, I'm wondering if this applies to any Fully Elec cars or just Tesla?

@cosmodoc Жыл бұрын

any!!

@luvadealme Жыл бұрын

Hi Nischa, great video do you happen to know any great calculators comparing this discounted tesla purchase TCO over 5 to 7 years versus a used or new petrol equivalent? Cheers, J

@rohanmahmood5806 Жыл бұрын

I appreciate the way you explained in a simplified manner with a practical written example, great video Nischa, loving the content!

@peterowen4456 Жыл бұрын

Excellent and informative video. It certainly explains, in part, the fact that Tesla's are almost common place where I live.

@bigdarshan Жыл бұрын

They are boring as hell though😢

@neilthomas6750 Жыл бұрын

@@bigdarshan Buy one, you'll soon find out how much fun they are to own. We have two, an M3 and an MY. But I can't wait for when the Roadster comes out. Now that is one quick car

@bavskijt Жыл бұрын

@@bigdarshan I have a Model 3 Performance, 500 hp at the wheels and handles like it's on rails is hardly boring mate. Each to their own!

@Mr35000000 Жыл бұрын

I love everything about Tesla, except their looks. Wish they would make them prettier.

@MercuryH Жыл бұрын

As always, very valuable ideas and information that touched our lives Thank you

@Vmb2000uk Жыл бұрын

Hey Nischa, just wanted to say I’ve recently come across your videos and they are incredible!! You explain things really well and make it really easy to understand. Keep up the awesome videos and keep doing what your doing! All the best. Vishal

@adelesonora9681 Жыл бұрын

Love your videos nischa!

@dannievig Жыл бұрын

Probably one of the best YT accounts - so informative. Thank you, again

@therealisticgooner8267 6 ай бұрын

Just came across your KZfaq channel today and am impressed with the ease at which you explain what many find baffling. I’d hire you tomorrow to do my taxes if I thought you would . Can I ask you a somewhat left field question though and I won’t take any answer as qualified just that of an opinion… So a person works for a company as a taxi driver, driving a company owned Tesla on a PAYE basis. There is no charge for the car and you’re even given an allowance to use personally up to 70 miles from your home address in any single journey. However that said you do as the driver / employee have the responsibility to charge the car ( at home or wherever a charger can be sourced) and the cost of this is the drivers. Now I appreciate the cost is 100% tax deductible but is it legal to ask a company employee to pay a company expense ? Yes a contract would have been signed I’m sure but I still think it’s a tad shady , do you agree ?

@THATGUYTALKSMOVIES Жыл бұрын

Very much love your channel and videos. Presentation, content and all is flawless! Grateful to have discovered you on KZfaq. I just purchased a new Tesla, picked it up last week. I'm across the pond from you in the States. Months back, when I was preparing to order, I inquired with my accountant about whether there were advantages to possibly purchasing via my LLC. He explained that it wasn't a good option or...not as easy and advantageous as it may seem to be. Not sure why. lol. Anyway, I've subscribed to your channel. Looking forward to your content.

@Matt-Silvey11 Жыл бұрын

any tips on how can you take advantage of scenario #2 if you purchased car under scenario #1 but opened a business a few weeks later in 2023 located in California?Can you transfer ?

@alainedmond3735 8 ай бұрын

Thank you for these wonderful nuggets. Are they applicable in the states?

@andrewmaloney9201 Ай бұрын

Thank You, Nischa, for sharing this very valuable information which is very useful and helpful to know on considering the tax-saving benefits that will accrue on chosing whether to purchase an electric vehicle over a petrol or deisel engine vehicle for personal or company use!! I totally enjoyed your video presentation. All greatly appreciated!!! 💚💚💚💚💚💚💚💚💚💚

@markbain9290 Жыл бұрын

Hello Nischa, thank you for your video. Trading 212 is registered in Cyprus: does it mean it is not regulated by the FCA? Are customer deposits FSCS protected? Trading 212 does not charge commission so how does it stay in business?

@oph1066 Жыл бұрын

cHECK OUT KZfaqrs Damien Talks Money - he explains about the UK arm of 212 that is regulated and that is what you will be accessings

@mba0073 Жыл бұрын

There is an issue with T212 that’s quite well documented online - Google it. Most of the funds are actually held in Bulgaria so no FSCS protection.

@markbain9290 Жыл бұрын

@@ChrisLee-yr7tz Thank you very much for your reply

@bigboldbicycle Жыл бұрын

Yes as Chris mentions, they make money on the spread. For those who doesn't know what that is, it's the price difference between the price they sell to you and buy back from you. Every broker have spreads, but these commission free brokers have wider spreads to cover their costs. That's a bad thing if you make high value trades, as the spread will eat into your profit. It is a good thing if you make lots of small trades, as you save a lot on commissions.

@Sean-411 Жыл бұрын

Nischa, can you share your Trading 212 Pies? I'd be interested I taking a look! Thanks!

@amitkakar5827 Жыл бұрын

Just to be clear the expense you can claim- wouldn’t this be limited to the annual depreciation expense you can claim as the car would need to be capitalized as the perceived tax benefit extends beyond one year and hence you can’t deduct the full $50K in one year

@edmundworrell1864 Жыл бұрын

Fantastic advice as usual

@danielhamshere8681 6 ай бұрын

Is this only applicable to brand new EVs? Could you use this method on a second hand EV?

@AdelitaWilliam-dl7ci 10 ай бұрын

Thank you for the video!!! We learn a lot with you! Thank you!

@rondolbalfour1856 Жыл бұрын

Always looking forward to Your video all the way from New York ❤

@nischa Жыл бұрын

Thank you. Sending love to NY!

@JONRUSS_ Жыл бұрын

Good video. Not a big deal, but just to mention, there’s an issue with the audio/lag at around 1:18 in case it wasn’t known.

@AnujJain.YouTube Жыл бұрын

Another good explanation from Nischa, keep going.❤

@nischa Жыл бұрын

Thank you

@alexteape9290 Жыл бұрын

Buy with a company

@imranbashiruk Жыл бұрын

Can you use the same method to by a used electric car, or does it have to be new?

@johnmate4260 8 ай бұрын

Hi Nischa, does this apply if you buy the car on finance through the company and not outright? Thank you for this valuable information.

@kirstybonner4286 3 ай бұрын

Does in Australia through a novated lease.

@bobbygoodman2875 Жыл бұрын

Hello...thanks for the advice...what are you doing Saturday night?

@okhan21 Жыл бұрын

Thank you. What about purchasing used electric cars through the company? I know its not 100% tax deductible but do you think its still worth it vs personal purchase?

@akhere07 Жыл бұрын

Did you get answer

@okhan21 Жыл бұрын

@@akhere07 Nope

@akhere07 Жыл бұрын

@okhan21 which country are you from.. Its upto 61000+tax for electric or phev cars and 36000+tax for gasoline cars in Canada.

@Freepalestinefromzionazi Жыл бұрын

Does this only apply in the UK? Can this be done if someone is in Canada?

@zakalam7786 Жыл бұрын

Great vid - Are the tax savings on the car/insurance on car still applicable if the car is USED electric as opposed to NEW?

@peterletts194 Жыл бұрын

@bimblewimble9440 6 ай бұрын

@@peterletts194 Yes, they are, a business buying a vehicle is still getting tax relief second hand or not.

@zhinan888 Жыл бұрын

Can you do the same analysis for the US which has different tax regulations?

@adnanrashid9522 Жыл бұрын

Very informative video 👍

@imrannazir6931 Жыл бұрын

Could you please cover ethical ways of investing?

@8enable Жыл бұрын

Thanks Nischa - great info!

@fgj4990 Жыл бұрын

Great information! Thanks.

@MaxwellBXC Жыл бұрын

Here is a question, used Tesla model 3 prices are really good at the moment, long range sits at £50k new, £35k for good used long range (21) is there any benefits buying used electric through company or in this case is it better to take out a dividend.

@rizwanriyaz773 Жыл бұрын

Great Video, does this applies to limited company? I am a consultant doctor, can I buy tesla on limited company for locum work?

@adamhayeem Жыл бұрын

Could you clarify how buying a car for personal purposes can be written as a business expense?

@XPoPoRocksX Жыл бұрын

Can you still get the tax savings if your compnay income is like $3000 or much less than the car? Does it count as business lost so then you mitigate your salary?

@martingill6996 Жыл бұрын

Good video, please note you still have to pay the congestion charge as it’s not emissions related but not have to pay the ULEZ in London . Also like you said it does need to be justified so if you already drive a van for work for example then you would find it difficult to justify a car as well.

@zaynabbaig8147 Жыл бұрын

You don’t have to pay congestion charge on pure electric cars.

@martingill6996 Жыл бұрын

@@zaynabbaig8147 according to the government site you do: Text taken from site when searching pure electric car details: This vehicle meets the ULEZ emissions standards You do not need to pay a daily ULEZ charge to drive in the zone, and are helping to improve air quality across London. However, if you see the Congestion Charge displayed below, you will need to pay that daily charge to drive in central London.

@ano1004 7 ай бұрын

Wrong not payable on electric cars

@martingill6996 7 ай бұрын

@@ano1004 you could be right but the government site says otherwise when I enter my model 3 registration. “You do not need to pay a daily ULEZ charge to drive in the zone, and are helping to improve air quality across London. However, if you see the Congestion Charge displayed below, you will need to pay that daily charge to drive in central London. Congestion Charge £15.00 to £17.50 a day

@samuelemilolorun1241 7 ай бұрын

@@martingill6996 Have you actually had to make payments? Also do you know what cars are exempt from both ulez and congestion charge

@psolver8147 Жыл бұрын

Hey Nischa thanks for this amazing vid. Question: does this still apply if if you purchase an electric car on pcp or finance?

@malcdickinson06 4 ай бұрын

Great video as always! Is it possible to register a business just to be able to get cars cheaper?

@TheCodeConnoisseur Жыл бұрын

Whats considered a new Electric Car? Can it be a second hand model from last year and bought through a company? Or does it need to be from a dealership/factory?

@natakijean-baptiste1746 Жыл бұрын

Dealership

@bitsandblocks7826 Жыл бұрын

There is another option in UK but relies on your employer to provide it where you buy an electric car through salary sacrifice similar to pension or bike to work schemes. Only for electric cars which then allows you pay lease payments from your gross pay. Saving 40% for a higher rate tax payer. Great video as always 🙂 Same with pension employer benefits as doesn't pay employers NI on the sacrificed salary.

@ruinunes8251 Жыл бұрын

Very interesting, I didn't know about it.

@MrAcruz2 Ай бұрын

thank you and btw your hair looks amazing

@simplydividends Жыл бұрын

This is exactly what I did. And of courne on going cots of the car can then be paid via the company too rather than through personal money. It's such a no brainer and when you run the maths it works out so cheap over 5 years. I sold my audi a5 to do this and now I dont have the ongoing costs associated with my old car.

@loripage5477 Жыл бұрын

This is really interesting. Thank you. May I ask please, the benefit in kind hit, is that payable per year or just in the year that the car is bought? Many thanks.

@nischa Жыл бұрын

It’s every year :)

@shahraxit Жыл бұрын

@@nischa Can the car be written off after a year?

@TimothyStevens-yx1vc Жыл бұрын

Hi Nisha, could you do a video like this for Australia please?

@MrOptimisticc Жыл бұрын

How would this be different say if I leased the car having monthly payments? Does the whole monthly payment become a tax deductable cost?

@geoff6854 Жыл бұрын

yes and also 50% of the VAT back

@msh104utube Жыл бұрын

This specific information just applies for the UK, right?

@user-lu3nq3yh2f Жыл бұрын

Literally my favourite channel. You absolutely need to start a business mastermind group - paid subscription!

@DrB187 4 ай бұрын

Talking about BIK, Can you do a video about the pros and cons on salary sacrifice schemes...would be interesting

@saabsingh2147 Жыл бұрын

Thanks for this. Would the cost also be tax deductible for a rental business in personal name and not in a limited company?

@brianl8250 Жыл бұрын

Read Section 179.

@kristinestocker Жыл бұрын

Just as I opened this video, the morning news began a story about a class action lawsuit against Tesla for privacy concerns.

@thewolverine1913 8 ай бұрын

I drive a Toyota Taris, been told by many in family to 'upgrade' however taking into account the costs involved in running the car and that I also work from home the majority of the time I don't see the need to change. Especially when its been reliable for so long.

@Anomize23 8 ай бұрын

Toyota owner here as well. you’re going to pay more not only for the car but EV owners pay more in registration fees so all in all you’re not gonna save all that much anyway. That’s the part that doesn’t get talked about. You get a little EV incentive and then they slap you with the registration fees later making up for it yearly

@Husseinalbaiaty Жыл бұрын

Great video thank you!

@nischa Жыл бұрын

Thank you :)

@darrenmooruthv2 8 ай бұрын

Awesome, this is what I'll be doing for my next car. Unfortunately, I did it the wrong way, a large deposit to reduce the monthly payments on a PCP after COVID. Having owned cars fully previously and sold mine, I figured that we wouldn't be driving at all or much during COVID. So I sorned off the previous car and had it sat on the driveway, full tank of fuel. Sold it a year after. Once out of COVID and things looked promising with movement, I decided to purchase my first EV car. It was more of an impulse buy. I wonder if there's a way to set up a company and shift the finance from personal to benefit through the company instead or does this have to be done at the time of purchase? 🤔Thanks again for being clear and concise Nischa. Looking forward to going through your finance tracker and mini course.

@paulevans2246 10 ай бұрын

Great video thanks. Does the Tesla have to be new or could it be bought 2nd hand and still give the same tax benefits?

@a.ctlyzer 9 ай бұрын

Basically new

@prakashvisits 5 ай бұрын

Hi Nischa, Such a excellent video. Just one query can we claim VAT which we used pay?

@iniester6724 28 күн бұрын

Only if its 100% for business use

@apilotsperspective Жыл бұрын

This is needed in this environment.

@stephenprice5882 Жыл бұрын

Great video. If i pay fir the tesla by "hire purchase", can i still get a 100 perecent tax deduction in the first year?

@saturntwelve4121 Ай бұрын

Thanks Nischa! Does this apply for US taxes too or only UK?

@JoseSilva-gv7zb Жыл бұрын

What If I don’t have a company and work on a self employed basis? Will I be able to get this discount too?

@oliverdunford3743 9 ай бұрын

Keep up the good work, this was very helpful as I am just about to buy a Tesla :-)

@scriptedpixelsltd Жыл бұрын

What about leasing It via the business, instead of outright buying?

@arg23 4 ай бұрын

Is this also possible with an LLC or Sole Proprietary business? (asking as someone in the US)

@SavanVyas91 6 ай бұрын

Best explanation on internet thank you

@James1980- Жыл бұрын

what happens when you sell the Tesla? Does that then become income for the company and therefore subject to corporation tax?

@gymjunkie81 Жыл бұрын

Do you any colleagues that are familiar with Canadian taxation laws toward electric vehicles or if you have a link to Canadian taxation for electric vehicles?