IF YOU are thinking of introducing the salary sacrifice employee benefit to your SME business, then here’s an idea: salary sacrifice provider, The Electric Car Scheme, reports it has seen ‘strong growth’ in its used car salary sacrifice scheme over the past 12 months and is expecting further growth this year as supply improves.
According to The Electric Car Scheme, the savings on choosing a used EV range between 30% to 50% – in addition to the 30%-60% savings available through salary sacrifice.
For example, a used Kia Niro EV (64kWh) is 39% cheaper per month than a new one (£253 versus £411), including maintenance (but excluding insurance) over a 36 month/10,000 miles per annum contract on used EV salary sacrifice.
This helps address the price barrier, which The Electric Car Scheme identified in its research last year. About two-thirds (68%) of 2,000 UK adults it surveyed cited that as the main reason for not going electric.
“The main benefit for customers is helping them with affordability. Not everyone can afford to lease a brand new EV - even with the savings from the electric car scheme applied - and the lower price points means that the EVs are now much more affordable for all.”
All manufacturers and models are available through the scheme, although stock changes daily, and cars vary from less than six months old and under 10,000 miles to models first used back in 2020 with more than 25,000 miles on the clock.
“In general, if it’s available to lease in the market we will offer it on our scheme for clients,” says Thom.
“The battery is covered by the lease company (and normally under warranty) so our customers do not need to worry. Batteries tend to have a circa 20-year lifespan, which is well beyond the point the car is returned at the end of a lease.”
Having initially sourced used cars from subscription companies in 2022, The Electric Car Scheme now has multiple leasing and subscription providers. It continues to partner with leasing company Gateway2Lease for the actual provision of the vehicles.
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