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What Is A Salary Sacrifice Car Scheme

Pink Salary Exchange have designed the next generation of salary sacrifice car scheme, whereby the employee and employer can each benefit in practical and financial terms, and everybody’s carbon imprint is reduced at the same time. But you might be wondering what a salary sacrifice car scheme is?

Basically, a salary sacrifice scheme is where an employee agrees to give up part of his/her salary in exchange for a non-cash benefit. Common benefits offered by employees include extra pension contributions, a mobile phone, childcare, training courses, additional annual leave and, in the case of what Pink Salary Exchange offers, the ability to lease zero emission vehicles; an electric vehicle (EV) to you and me.

How does a salary sacrifice car scheme work?

The ground-breaking product Pink Salary Exchange has designed enables an employer to opt into a scheme by hitting the ‘apply’ button, and then setting it up with our simple online management portal.

An employee then signs up to the scheme and agrees a portion of their salary to be taken from their monthly pay, and in return they can apply that amount to the lease cost of a new or used EV.

The benefits of our salary sacrifice car scheme

With the scheme offered by Pink Salary Exchange the employee is able to choose a vehicle from a vast range of available models. This provides unrivalled access to the very best EVs on the market due to our partnership with Pink Car Leasing, one of the UK’s leading car leasing specialists. With over 20 years’ experience in the industry, this has enabled us to build relationships with motor manufacturers, insurance companies and financiers to offer our customers the most affordable access to the very best motor vehicles.

The main employee benefit is that the portion of salary taken is done so on gross salary, not nett. So the employee benefits in real cash terms. They also have only one payment to cover all motoring expenses (lease, service and maintenance, tax and insurance) and there is also flexibility built into the product. This offers early-termination if an employee leaves the company or an adjustment in the monthly costs if an employee experiences a change in lifestyle and hence monthly expenses.

Employer benefits include the loyalty and retention of key employees, reduced fleet costs through leasing vehicles and possible batch lease deals and reduced national insurance contributions for each employee signed up for the scheme. And of course everybody benefits from more EVs on the road and a reduced carbon imprint on the road to net zero.

Our salary sacrifice car scheme

Contact Pink Salary Exchange today to get your business signed up to a unique and pioneering salary sacrifice car scheme which enables every employee to drive the EV of their choice.

Whether your business has one employee or over 100, our flexible product is the very best in the industry, so get signed up today.

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