Salary Sacrifice

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Salary Sacrifice

A Salary Sacrifice scheme delivers an outstanding, tax-efficient benefit for all employees. It’s a popular way to attract, reward and retain staff while also achieving environmental sustainability goals.

It’s free to set up, it’s simple to implement, and it puts employees behind the wheel of a fantastic range of electric and plug-in hybrid vehicles.

How much can i save as an employee?

Or find out how much you can save as an employer here.

Tesla Model 3 Saloon

RWD 3dr Auto

Gross monthly sacrifice: £644.50

Monthly net cost (20% tax): £464.45

Monthly net cost (40% tax): £400.44

PCH Equivalent: £706.16

£305.69 Estimated savings

Tesla Model 3 Saloon

RWD 3dr Auto

Gross monthly sacrifice: £644.50

Monthly net cost (20% tax): £464.45

Monthly net cost (40% tax): £400.44

PCH Equivalent: £706.16

£305.69 Estimated savings

Tesla Model 3 Saloon

RWD 3dr Auto

Gross monthly sacrifice: £644.50

Monthly net cost (20% tax): £464.45

Monthly net cost (40% tax): £400.44

PCH Equivalent: £706.16

£305.69 Estimated savings

Tesla Model 3 Saloon

RWD 3dr Auto

Gross monthly sacrifice: £644.50

Monthly net cost (20% tax): £464.45

Monthly net cost (40% tax): £400.44

PCH Equivalent: £706.16

£305.69 Estimated savings

What is salary sacrifice?

Salary Sacrifice enables employees to save up to 40% on a brand new electric vehicle of their choice. It is the most effective way to drive an electric car today!

So-called ‘Sal Sac’ sees an employee agreeing to forgo a portion of their gross monthly salary in exchange for a fully maintained, insured Electric or Plug-In Hybrid vehicle. The employee will save tax and NI on the sum that has been sacrificed, and the value of the car benefit is subject only to benefit-in-kind (BIK) tax. For employers, it’s a cost-neutral way of lowering National Insurance Contributions, reducing carbon footprint, and attracting and retaining staff.

Brand new car of your choice

Roadside Assistance

Servicing, repairs & Maintenance

Replacement Tyres

What can be tailored in your scheme?

Optional add-ons:

  • Early termination protection
  • Fully comprehensive insurance
  • Grey fleet management

Finance to suit you

Compare Your Options

Check out our available products, to see which suits you best.

Hire Purchase (HP)

Hire Purchase is a finance product used to purchase a car that allows you to repay the finance over a defined period of time. Usually, you pay an initial deposit followed by fixed regular monthly payments which reduce and pay off the balance. The finance is secured against the car and the interest rate charged is fixed for the term, you will not fully own the car until the last payment has cleared.

PCP

Personal contract purchase (PCP) is a flexible car financing option that can offer lower monthly payments than a personal loan or hire purchase (HP) car finance agreement. It’s a loan to help you buy the car you want. But it differs from a normal personal loan because you don’t have to pay off the full value of the car which means it could be a good option for you if you like to change your car more regularly.

Lease Purchase (LP)

This facility is an extension of the hire purchase agreement but with an offset payment due at the end of the term. Once again available to private individuals or a business, deferring an element of the finance (balloon payment) until the end reflects in a reduced monthly payment. This facility works well when a vehicle has a potentially strong residual value. Available from 24 to 48 months.