Which Salary Sacrifice EV Car Scheme?

BelugaWhale

I've recently joined a company - and one of the benefits of employment is an EV on salary sacrifice. I've always driven bangers... banger just died. The second hand car market is silly at the moment. Doing the sums, with the included insurance and maintenance, a salary sacrifice EV doesn't look so bad...

The company is made up of 5 people, and organisationally very flat at the moment... I've been tasked with finding out which salary sacrifice EV company is best...

Does anyone  have an EV on salary sacrifice? If so, with which company, and... what do you think of them?

Thanks!

DullGreyGuy

Hu?

It's a company car paid for by a salary sacrifice. The company would need to decided how it wanted to fund it and if its a direct pass through, smoothed, subsidised etc. If it's a straight pass through then just look at lease companies that do business leases, remember you'll have 50% of the VAT to pay even though the sites will list prices net. Clearly the company would need to be creditworthy for the finance.

Remember to factor in the Benefit In Kind tax, currently tiny on EV cars. 

Bigphil1474

We have a partnership with NHS fleet for salary sacrifice. Obviously you can't access that, but I had a look and they aren't that beneficial to me compared to using my own petrol car for work and getting car user allowance, but better than any other company car deal I can access. Although the arrangement would be with me, my employer also reduce my car user allowance as well. 

As above, you'll have to look at lease companies that do business leases. It's all about price obvs. but mileage is important. I'm quite low mileage for work c.2500, high mileage users will clearly be more expensive.

I'm not sure many of the salary sacrifice schemes are that good tbh, particularly if you have a company pension scheme. Your pension contributions go down and so do the employers, so good for them, not necessarily for you. My employer pays 14% into my pension, I pay 6.5%, so any reduction in gross salary will benefit them more.

luckybert

I'm looking at car salary sacrifice scheme. 
So many questions
So I don't have to use the scheme that my employer is promoting?
If not which is the best one to use, I'm interested in a hybrid car. 

sheramber

The car will be leased by your company so you need their agreement on which company to use.

Ectophile

luckybert said:

I'm looking at car salary sacrifice scheme. 
So may questions
So I don't have to use the scheme that my employer is promoting?
If not which is the best one to use, I'm interested in a hybrid car. 

A salary sacrifice requires a three-way agreement between the lease company, your employer and you.  So you can only sign up to your employer's scheme.

luckybert

So a different option would be to lease a car. 

sheramber

luckybert said:

So a different option would be to lease a car. 

You can lease a car yourself but  it won' be done under salary sacrifice.

The benefit of salary sacrifice is you do not pay tax or NIC on the amount sacrificed.

A personal lease is paid by you from your take home pay.

silvercar

luckybert said:

I'm looking at car salary sacrifice scheme. 
So many questions
So I don't have to use the scheme that my employer is promoting?
If not which is the best one to use, I'm interested in a hybrid car. 

You will lose out on the tax benefit of a very low BIK if you choose a hybrid rather than a full EV.

silvercar

BelugaWhale said:

I've recently joined a company - and one of the benefits of employment is an EV on salary sacrifice. I've always driven bangers... banger just died. The second hand car market is silly at the moment. Doing the sums, with the included insurance and maintenance, a salary sacrifice EV doesn't look so bad...

The company is made up of 5 people, and organisationally very flat at the moment... I've been tasked with finding out which salary sacrifice EV company is best...

Does anyone  have an EV on salary sacrifice? If so, with which company, and... what do you think of them?

Thanks!

Define 'best'? You want one that has good customer service, reasonable payments and can source the cars. There are long waiting lists for some LVs at the moment, so however well a company performs on service and price, if they can't get hold of the cars they are no use to anyone.

We have two EVs through my OHs work. They use Tuskar and have been fine to deal with.