One of the UK’s leading work benefits providers is putting a modern twist on a traditional workplace perk with its alternative salary sacrifice scheme for electric vehicles.
Employee car scheme specialist Fleet Evolution, which introduced its traditional car salary sacrifice scheme back in 2010, is now offering employers the opportunity to enrol in the ‘Best Rates’ programme; a managed comparison scheme that makes electric vehicles more affordable.
The Best Rates scheme utilizes real time pricing data from Fleet Evolution’s extensive network of major leasing providers across the country to ensure that employees always have access to the most affordable deals.
As employees search for a potential vehicle, Fleet Evolution’s integrated quotation system pulls down the latest deals and offers from its partners to display the best value prices at that particular time. Under the scheme, employees can secure a fully maintained electric car with tyres, roadside assistance, and HMRC clearance for less than the cost of running a 5-year old petrol car.
“Over the ten years we’ve been in business, we’ve been listening closely to employee thoughts and feedback regarding traditional salary sacrifice schemes, and one of the biggest concerns we’ve found is that, because rates vary so much between lease companies, employees can feel confused and unsure about whether or not they’re getting the best possible deals,” says Andrew Leech, Founder and Managing Director of Fleet Evolution. “We’ve always been very open about the fact that mainstream lease companies are incredibly good at leveraging some great deals from manufacturers they are close to, but none are great across the board.
“Our Best Rates scheme is specifically designed to address these concerns, ensuring employees can access the best deals from a panel of funders and making it more affordable than ever for the workforce to switch to eco friendly models. We have always been exceptional at simplifying salary sacrifice and engaging with employees about moving to electric cars, bringing together the best of both is a unique but perfect solution.”
The Best Rates scheme works by making it easier for businesses to work with multiple leasing providers. Typically, under traditional salary sacrifice schemes, employers work with a single leasing partner for convenience. It ensures minimal paperwork and backend administration. However, this doesn’t always guarantee that employees are receiving the best possible deal, which can make switching to electric vehicles appear more costly than it actually is.
Under the Best Rates scheme, Fleet Evolution collates and manages all administrative tasks from each chosen provider, making the programme as convenient for employers as the more traditional salary sacrifice options.
With the Best Rates scheme, employees can select the best rate for them and opt to sacrifice part of their gross monthly salary in exchange for an electric vehicle, saving on tax and National Insurance payments. A range of makes and models are available under the scheme, including the MG ZS EV for as little as £199 per month, or the Mercedes EQC from just £445 per month.
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