Are you a business owner or HR Manager interested in offering an amazing perk for your employees? Find out how Xcite Car Leasing’s electric car salary sacrifice scheme can help.
Put simply, an EV (electric vehicle) salary sacrifice scheme is an optional employee benefit that allows the staff of a business to exchange a portion of their salary each month for a brand-new electric car.
As the reduction in salary is taken before any tax or National Insurance deductions, employees can save a significant amount compared to standard personal car leasing.
It’s really easy to join our scheme and the best part is: it’s free! Simply follow these steps:
Employer Benefits |
Employee Benefits |
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Provide an amazing perk for your staff | |
Get a brand new car for a more affordable price, with lower monthly payments |
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Save money on National Insurance contributions | |
Ability to swap cars every few years |
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Improve employee satisfaction | |
Tax and National Insurance savings |
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Attract and retain the best talent | |
No deposit or credit check |
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Reduce your company’s carbon footprint | |
Easy financial planning as the payments come straight out of your salary |
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Lower business mileage reimbursement costs | |
Servicing, maintenance, breakdown cover, insurance and more all included in one package |
✅A fully electric vehicle leased on a term between two and four years
✅ Fully comprehensive insurance including business use
✅ Accident management support
✅ Full maintenance package including all servicing, tyres, MOTs
✅ Breakdown cover
✅ Early Termination Protection in case of unforeseen circumstances
✅ A dedicated account contact that can help when needed
Nothing! The great part is that it’s free for a business to sign up for the Xcite Car Leasing salary sacrifice scheme.
Salary sacrifice schemes such as Xcite Car Leasing’s offering tend to be one of the most affordable ways to get a brand-new electric vehicle. Depending on the exact model and deal you choose, salary sacrifice tends to be between 30-60% cheaper than other finance methods.
Nope! Employees won’t need to go through a credit check to join the scheme, and joining won’t affect your credit rating either.
No. If you’re an employee joining, you won’t need to pay anything upfront, only the monthly payments that come directly out of your salary.
Yes, with Xcite Car Leasing’s salary sacrifice scheme insurance is included as part of the deal, thanks to our partnership with Lloyd Latchford, the UK’s leading salary sacrifice insurance provider. The insurance policy will be in the name of the employer, but can be tailored to the employee’s circumstances.
As well as insurance, servicing and maintenance costs are included as part of the salary sacrifice deal. So, if you break down and need recovery assistance or your car needs to be repaired due to wear and tear or accidental punctures, you’ll be covered. Any damaged tyres caused by negligence will not be covered, however. If you’re in doubt about what’s covered and what isn’t, our customer support team will be happy to help.
No, even though you’re leasing the car through your employer, the car is for personal use rather than as a business company car. Therefore, there are no restrictions on where or when you can drive it. It’s important to note any mileage allowance limits you may set though.
If you would like to find out more about Salary Sacrifice, or would like to sign up for our scheme, please complete the below form and the team will come right back to you.
Check out one of our helpful guides or our explaination of leasing to get all your questions answered.
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