The best salary sacrifice car schemes for 2023
It’s no secret that buying and leasing a car can be expensive and offer a lack of flexibility. Providing your employees with the option to sign up for a salary sacrifice scheme gives them a more affordable and flexible way to drive a brand-new car.
By sacrificing a portion of their pre-taxed earnings – at zero net cost to your organisation – your employees could save anywhere between 30-60% on the cost of subscribing to or leasing a car. It also positions you as an employer that values its employees and helps you attract and retain top industry talent.
But what are the best salary sacrifice car schemes for 2023? We’re going to explore just that. As we tick toward 2030, when the government’s ban on the sale of new internal combustion engine (ICE) cars comes into force, now is the time to embrace switching to electric. And thankfully, there are plenty of salary sacrifice schemes that offer a range of affordable EVs.
So, in this post, we’re going to dive into the best electric car salary sacrifice schemes in the UK, so your business can lessen its environmental impact while offering a fantastic perk to your workforce. To find out how to offer a huge range of EVs to your employees through salary sacrifice, contact our team today for more information.
Summary
Why get an EV through a salary sacrifice scheme?
There are two main reasons why your employees would want to get an EV through a salary sacrifice scheme:
- It’s affordable; on elmo’s EV salary sacrifice scheme, employees save up to 60% off monthly subscription costs, in part thanks to exceptionally low benefit-in-kind rates.
- It’s flexible; after the first 60 days, employees can make changes to their elmo salary sacrifice subscription, including switching to a different car.
With an elmo EV salary sacrifice subscription, employees can also get as much as 60% off charging when using public chargers through elmoCharge. With the cost of running an EV already far cheaper than the cost of running an ICE car, the savings can be massive.
On top of this, there are plenty of other benefits to driving an electric car that will become far more accessible to a greater number of employees thanks to salary sacrifice. And through elmo, we offer an all-inclusive package, so as well as receiving the car, the single monthly cost includes insurance, MOT, service, breakdown cover and more.
What are the best electric car salary sacrifice schemes?
If your business wants to offer employees the opportunity to drive an EV through a salary sacrifice scheme, how do you know which provider is the right one for you? Below, we’ll go through some of the best electric car salary sacrifice schemes in the UK.
1. elmo
Here at elmo, we provide an all-inclusive EV salary sacrifice subscription, which is free of administrative headaches and employees can save between 30-60% off the cost of an electric car.
We’re a part of the Constellation Automotive Group, which also includes WeBuyAnyCar and cinch, so you can be confident that you’re in good hands. We were even ranked first in The Car Expert’s list of the best EV salary sacrifice providers.
We do all the work for you, allowing you to provide a fantastic perk to your employees at zero net cost (or additional work!). Salary sacrifice schemes have a minimum contract of 12 months, but after that, employees can cancel with just 30 days’ notice. Unlike salary sacrifice leasing, with subscription, our 60-day minimum still applies, meaning there are no early termination fees if the employee terminates their employment.
One unique perk of our scheme, is that employees can also save up to 60% off the cost of charging with elmoCharge. elmoCharge has access to over 25,000+ charge points across the UK with just one card. Simply agree a fixed credit amount of charging, and employees will gain the same savings as they do for their EV.
We also have one of the biggest ranges of EVs available under any salary sacrifice scheme and have a 4.6 star rating on Trustpilot.
Here’s an animation which explains a bit more about our scheme:
2. Onto
Onto offers a subscription service in partnership with The Electric Car Scheme, which is simple to set up and manage.
Onto provides a handy app, which you can use to find public charge points, monitor the battery level and even unlock the car.
It has a great range of EVs to choose from, with special deals on specific models throughout the year. It has a 3.9 star rating on Trustpilot.
3. Tusker
Tusker focuses on providing a streamlined EV salary sacrifice service to companies in the private sector. It currently has more than 23,000 electric vehicles on UK roads through 1,600 businesses.
It provides an all-inclusive package, and boasts a customer care team that is accessible 24/7. Through a partnership with Diode, it also offers businesses help and guidance with installing workplace EV charge points.
Tusker offers a wide range of EVs to suit all budgets, including makes and models like the Ora Funky Cat. Tusker has a 4.4 star rating on Trustpilot.
4. Octopus
Octopus provides a personal service that makes it easy for businesses and their employees to sign up to get up to 40% off the cost of an electric car.
As part of a package, employees with off-street parking get a free home charge point installed and the first 4,000 miles are free.
Octopus has a huge range of EVs to choose from, so employees are guaranteed to find a car that suits their needs, taste and budget. Octopus has a 4.8 star rating on Trustpilot.
5. Zenith
Zenith offers several business transport solutions, including a salary sacrifice scheme for electric cars. They can adapt to whatever your business is looking for, with an expert team on hand.
As with other providers, Zenith provides an all-inclusive solution, giving employees the option to choose from a decent range of EVs.
On the administration front, Zenith is user-friendly, providing employers with Pulse, their management system that lets them monitor their employees’ EV use. Zenith has a 4.1 star rating on Trustpilot.
6. WeVee
As soon as you land on the homepage, WeVee makes its mission clear: to make getting an EV simple and to help its users save the planet.
It offers a bespoke service, tailoring the scheme to the needs of your business and your employees. It offers all-inclusive EVs, with a large range of vehicles from major manufacturers.
WeVee strives (and delivers) to provide clear communication, which is reflected in its review scores. It has a 4.3 star rating on Trustpilot.
How do you know if salary sacrifice is right for you?
Because a salary sacrifice scheme has zero net costs and financial accountability for your business, it’s risk-free. Offering it as an option to your workforce ensures you make a positive environmental impact and cements you as an employer that values its staff.
From the point of view of an employee, salary sacrifice is a great choice when looking to make the switch to electric. You save money, receive a brand new EV with everything taken care of (including insurance) and have complete flexibility.
For more information, read our blog post on is salary sacrifice worth it?
What sort of EVs are available?
Companies that provide EVs as part of a salary sacrifice scheme each offer their own range of vehicles that span different budget levels. Most providers will offer EVs from the most popular manufacturers, like Tesla, BMW, Polestar, MG, Vauxhall and Fiat. Depending on availability and new releases, offerings regularly change, so make sure you take a look at each provider to see the kinds of EVs they offer.
Browse elmos wide range of electric cars to see which EVs we have available now.
Find out more about our salary sacrifice scheme
Ready to sign up for a salary sacrifice scheme and offer your employees the opportunity to drive a brand-new electric car? Contact us today to find out more.
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