How do Salary Sacrifice Cars Work?

Salary sacrifice cars are a great way of saving money on your car insurance, as you’re able to legally reduce the amount of tax you pay. Salary sacrifice cars work by having an additional part added into your contract which indicates that a portion of your payment goes towards the car. 

This means you can claim car finance through salary sacrifice car schemes.

This is a great way to save money and get a brand new car with no outright payments or tricky contracts to navigate as your company will sort it for you. 

What are the benefits of salary sacrificing your car?

The employees benefit as they can pay off their car more quickly and maintain their good credit score by only paying the interest on the car every month, rather than paying off a large lump sum each time.

It’s also beneficial for employers as it helps them to retain the employees, thus keeping them happy.

There are no disadvantages to car salary sacrifice schemes, but one must be careful when signing up that all the information is correct and that they don’t agree to something they cannot afford.

Also, companies such as Fleet Evolution offer great deals on electric cars for salary sacrifice schemes. So, you can have a brand new greener car for cheaper! 

Best way to get an electric vehicle Is to check the Electric Vehicles Hub.

These schemes save you the most money when choosing greener cars. 

Electric cars are usually more expensive than their gas-guzzling counterparts, but with electric vehicle salary sacrifice schemes you can save up to 50% on the electric car.

This means as a company, you can save the most money by offering greener cars and feel better about your company’s contribution to climate issues. 

What are the pros and cons of electric vehicles?

The main perk of electric vehicles is that they don’t cause pollution, so driving them means you’re not damaging the environment. They are also easier to drive in cities because they’re electric, so there’s no “revving up” or pulling away.

However, electric cars can be slower and typically have a shorter battery life than non-electric vehicles which affects the range you can travel before needing to charge it again. Despite this, hybrids can go further than electric cars on one electric charge as they have petrol as well. So hybrids can be a good option to offer for a salary sacrifice scheme. 

Greener electric vehicle salary sacrifice schemes are available now to everyone who wants to save money and help the environment, regardless of their financial situation. Employers can also provide hybrid or electric car options which further helps them to retain staff as well as save the world.

Electric car salary sacrifice schemes allow you to purchase electric vehicles at a lower price than you would usually be able to if you were choosing them on your own accord. 

So if you want a brand new car, then a salary sacrifice scheme is an amazing solution to choose. You can get brand new electric cars and feel better about the vehicle you drive.