Since the dawn of time there have been two main ways you'd lease a combustion car – a Personal Lease or a Company Car. For a Personal lease, you sort the lease, the insurance and a maintenance plan and then pay for it with your take-home pay. Simple.
For a Company Car, your company sorts the lease, insurance and maintenance. Also simple. The only thing you pay, is a Benefit-in-Kind (BIK) tax, which for a combustion car, can be as high as 35%. But for an electric car you skip paying BIK and instead save a mountain of cash.
But there is a new Electric Car option called “Salary Sacrifice”. It’s kind of a combination of a personal lease and a company car.
For Salary Sacrifice, your company leases the EV, but the employee pays for it with a monthly deduction from their pay check – before income tax and national insurance. This means you and the company save money because you’re paying less tax.
Plus for all three options you save even more because you pay 75% less in fuel costs, and you pay no ULEZ or congestion charge. So read more below, drop us a note or just call our team on 020 8012 8190. They’ll calculate your savings, price up a lease for ya and answer any questions you have.