Compare The Best UK Salary Sacrifice Electric Car Schemes

At Pink Salary Exchange we have always been confident about the strength of our salary sacrifice car scheme and the unique benefits it offers.

Our exclusive position and standing in the industry enables us to provide the best features and benefits for both employees and employers, and this has led to the design of an innovative ‘next generation’ product, which has been assembled with the expert input of finance, insurance, taxation and motoring specialists.

We have always known our HMRC-compliant product was industry-leading, but we had the confidence to put that to the test, and in 2022 it officially became the best.

We commissioned a panel of five accountancy and employee benefits specialists from the UK’s top 50 businesses to undertake a full review of our scheme alongside other leading schemes on the market. It is not a straightforward exercise to compare such schemes when people want so many different things out of them, so it is not simply about cost, but also lifestyle and convenience benefits.

The panel considered all the schemes against the same criteria and the Pink Salary Sacrifice scheme came top in all categories.

Upon casting their votes, the panel highlighted the following features of the Pink Salary Exchange scheme:

• “The online Web portal makes the journey for both employer and employee simple”
• “The flexibility offered by Pink Salary Exchange is significantly greater than all of the other schemes we considered”
• “The standard scheme has more features and benefits as standard than all of the other schemes we reviewed”
• “The way Pink Salary Exchange provides the best leasing rates from the market is a major benefit for employer and employee alike”
• “The early termination protection cover within the standard scheme is by far the best we reviewed”
• “The way Pink Salary Exchange provides policies and documents for employers to use saves both time and money”

Achieving this recognition as the best salary sacrifice car scheme currently available on the market has prompted us to build our own comparison metrics.

This is so that we can regularly monitor and assess our performance against our market competitors to ensure we are always offering the best product available to the market, and of course to ensure we maintain our position as the leading salary sacrifice car scheme provider.

We have put together the following table, largely based on FAQs criteria and hence looking at the type of features and characteristics that both employees and employers consider important and need information for.

	Pink Salary Exchange	Love Electric	Tusker	Octopus EV	Electric Car Scheme	Wevee
What type of vehicles are available on the scheme?	All hybrid and electric below 75g/km CO2	Electric vehicles only	Electric, hybrid and petrol/diesel vehicles	Electric vehicles only	Electric vehicles only	Electric vehicles only
How many vehicles are available to choose from?	Over 500 in stock (new & used) plus advance orders	Over 100 makes and models available	Over 550,000 vehicles available	33 manufacturers available	Cars are sourced directly through partnerships	56 vehicle manufacturers available
Do you have the option to choose a used car for even bigger motoring savings?	Yes	Yes	No	No	No	No
Is the scheme run by a broker, leasing company or salary sacrifice only?	Salary sacrifice only	Broker	Leasing company	Leasing company	Leasing company	Leasing company
Does the scheme offer early termination protection?	Yes with 6 different levels, including the most comprehensive available in the UK	Yes. You have the option of transferring the lease to a colleague or new employer	Yes	No, this would depend on the employer’s discretion and their internal policy	Employees from Day 1 and Employers from 2 months	Information not available
What is the cost of the scheme to the business?	No cost	No cost	No cost	No cost	Cost-neutral	Information not available
Is there a deposit or an upfront payment?	No	No	No	No	No	No
Is there an employee credit check?	No	No	No	No	No	No
What info is available to help employees?	Account manager, online portal with users guides & FAQs, mobile app, Video content, Policy handbooks	Account manager and driver handbook, blog and case studies online	Account manager, online knowledge hub and FAQs	Account manager and policy documents online with EV hub, case studies and events	Account manager, customer service team and marketing support	Account manager
Is a charger included?	Optional based on scheme set-up	Flexible options so, yes, it can be	No	Yes for off-street charging (on-street = credit)	No (optional add-on)	Information not available
Is there an employee and employer portal?	Yes	Employee only	Employee only	Yes	Yes	No
Is there an option for the employee to buy the car at the end of the lease?	Yes	No	Yes – three options – return, choose new or buy	Yes	Yes	Yes
Can the scheme offer the best lease rates on the market?	Yes. We use a select panel of funders that guarantee the very best rate for each vehicle	Not guaranteed	Not guaranteed	Not guaranteed	Not guaranteed	Not guaranteed
Is short term leasing available?	Yes, you can choose a lease deal from 6 months up to 48 months	No, lease deals are from 24-48 months	No information available	No, lease deals are from 12-48 months	No, lease deals are from 12-48 months	No, lease deals are between 24-48 months

This comparison analysis shows that Pink Salary Exchange is top of the charts for the flexibility and convenience of its product, but also for info on how the scheme works, the after-sales support and the wide choice of vehicle options it offers. There is plenty of evidence to show that employers value these factors more highly than any others, and what a business needs from a salary sacrifice car scheme is:

• Good communication
• No hidden costs, surprises or risks
• Flexibility
• Strong after-sales support

You will receive all of this with the Pink Salary Exchange salary sacrifice car scheme and in return your business can expect the following benefits:

• HR-compliant and game-changing employee benefits
• Reducing emissions and improving environmental compliance
• Across-the-board inclusivity
• Improving employee morale and productivity
• Making Class 1 National Insurance savings
• Improving the employee package to attract and retain the best available talent as a top-tier employer

Currently Pink Salary Exchange has over 500 businesses signed-up to its salary sacrifice car scheme, with over 12,000 live users among the employees of those businesses.

New businesses are joining all the time and reaping the benefits of our ‘next generation’ product!

Contact our team at Pink Salary Exchange today, learn about the features and benefits, the easy sign-up process and great selection of new and used electric vehicles you can choose from, and within 24 hours you can be signed-up and welcoming employee registrations to the best salary sacrifice car scheme on the market today.