The headline employee benefit in signing up for a salary sacrifice scheme is the potential for tax and national insurance savings, if you have the option of sacrificing a portion of your salary in return for pension contributions, ultra-low-emission vehicles, cycle-to-work schemes or employer-supported childcare.
One of the most popular such schemes offers accessibility to electric vehicles, via a salary sacrifice car scheme. From April 2017 these vehicles were included in the group of non-cash benefits which allowed the employee to take the salary hit on their gross pay, rather than their nett pay. So the employee benefits in real cash terms. But in the finer details of salary sacrifice car schemes, such as the next generation product offered by Pink Salary Exchange, are some less well-known benefits which will raise an eyebrow and could well be a deal-breaker in terms of tempting an employee to sign-up for the scheme.
Flexible lease deals
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An electric vehicle leasing deal from Pink Salary Exchange can be agreed on terms ranging from six months up to 48 months. This offers the employee plenty of scope to find a lease term that perfectly suits their circumstances. This flexibility might suit your ability to commit, it might suit your job stability or it might suit your financial constraints. Other types of salary sacrifice scheme don’t offer such elements of flexibility, but the Pink Salary Exchange deal enables the employee to build and tailor a scheme to suit themselves. Of course, the longer the lease term is, the more you can spread your payments out, so a deal becomes much more manageable, but that might not suit everyone. With a Pink Salary Exchange scheme the employee is in total control and is able to design a bespoke package that perfectly suits their circumstances.
Some employees may be put off signing up for a salary sacrifice car scheme because it feels like such a big commitment. This could be because of the costs involved or because you are wary of your job security. In this day and age, these are totally normal concerns and the type of anxieties the people behind the Pink Salary Exchange scheme are well aware of, given their 20-plus years in the industry. This is why there is no set-up registration fee for the scheme, so there is no initial cost to the lease, and also the employee has complete control over what happens to the vehicle should they leave employment of the company. This can happen for any manner of reasons, but the employee retains the right to either take the vehicle with them when they leave the business – and of course, in this instance remains liable for the same monthly payments – or they can cancel the lease deal and return the vehicle when they leave. This flexibility is an allowance very rarely seen with similar deals and which means the employee can sign-up in the knowledge that they will have no financial legacy or liability should they lose their job, and if they willingly choose to leave the company, they don’t necessarily have to give up a vehicle they have come to enjoy driving.
Best deals available
Some deals simply sound too good to be true, but as well as being offered access to driving a brand new electric vehicle through sacrificing a portion of their salary, an employee signing up with Pink Salary Exchange can also access the very best lease deals on the market. The vehicle leasing agreements are managed through Pink Car Leasing, one of the most established and successful vehicle leasing companies in the UK. The multi-bid process involved in vehicle sourcing, and the many years’ experience in the vehicle leasing industry, means that Pink Car Leasing can offer the very best deals on some of the very best vehicle manufacturers. Such favourable terms can be offered because of the strong relationships Pink Car Leasing have built throughout the industry. Furthermore, these great deals can be on new or used electric vehicles, which is unique in terms of salary sacrifice car schemes and therefore offers complete flexibility to the employee. This means you can find a deal to suit your circumstances, and in some cases you might be able to afford a higher-spec of new vehicle than for a comparable leasing agreement, and certainly than if buying a vehicle. This market expertise and experience is priceless and is unique to Pink Salary Exchange, so you need to take advantage and sign-up today.