EV salary sacrifice provider recommendations

[kent_phil]

Hi,

Any recommendations out there for EV salary sacrifice providers?

We are a small but growing firm - 35 people with ambitions to increase significantly over the next 12 months - and looking at providing salary sacrifice EV's to help staff with cost of living & doing the right thing for the environment & we want to make our employee offering as attractive as possible.

Googling provides plenty of providers but wanted to know if anyone is using someone they would recommend, from both an employee and employer perspective.

We try to keep our fixed operating overheads as low as possible so having a big admin overhead is not going to fly, and I don't want disgruntled staff if the service provided is rubbish - I've seen these initiatives in other firms going from being an initial wow to a huge problem due to admin problems.

Thanks in advance,

Phil

[Jacobyte]

You could go direct to the likes of Octopus, etc, or you could use an employee benefits company to help, such as us

Have a look here then PM me if interested and I'll put you in touch with a colleague: www.avantusemployeebenefits.co.uk

[Pistonsquirter]

My place uses Octopus, seems ok, the Taycan is £650 a month...................

[parabolica]

My employer just set this up with Tusker; seem to be decent with a good selection. No idea of the specifics I'm afraid.

[kent_phil]

Thanks for the replies - we've gone with Octopus and all positive so far, staff reaction towards the initiative has been overwhelmingly positive.

Will update the thread as we progress, it could be a slow one though given the availability of EV's!

[doogle83]

kent_phil said:

Thanks for the replies - we've gone with Octopus and all positive so far, staff reaction towards the initiative has been overwhelmingly positive.

Will update the thread as we progress, it could be a slow one though given the availability of EV's!

We had exactly the same positivity and also went through Octopus. Company is 40 people.

Due to lead times on new cars, after 2 months we've had exactly.... zero people sign up to it!

[parabolica]

doogle83 said:

We had exactly the same positivity and also went through Octopus. Company is 40 people.

Due to lead times on new cars, after 2 months we've had exactly.... zero people sign up to it!

We have 1700 people and maybe 50 have signed up for it so far. Part of that is some people can’t make the switch right now whether that’s due to already being in a lease or just the economy at the moment. But it’s a nice benefit to have when you need it - we expect a lot more people to be using it over the years.

Edited by parabolica on Saturday 18th June 20:45

[UrbanAchiever]

parabolica said:

We have 1700 people and maybe 50 have signed up for it so far. Part of that is some people can’t make the switch right now whether that’s due to already being in a lease or just the economy at the moment. Buts it’s is a nice benefit to have when you need it - we expect a lot more people to be using it over the years.

2025 BIK rates for EV salary sacrifice cars are unknown at present. If the govt hikes them up from the current 2% (which I'm sure they will) then if they are high enough this scheme will die. I fear it will be a short-lived opportunity to get a better deal on EVs. But I hope I'm wrong.

[parabolica]

UrbanAchiever said:

2025 BIK rates for EV salary sacrifice cars are unknown at present. If the govt hikes them up from the current 2% (which I'm sure they will) then if they are high enough this scheme will die. I fear it will be a short-lived opportunity to get a better deal on EVs. But I hope I'm wrong.

The opportunity to sal-sacrifice for a brand new vehicle with all incidentals (ins, maintenance, tires etc) included in one monthly payment (in our case at least) is pretty strong regardless of the BIK rate though. If I wasn’t on assignment in Europe for the next 2 years I would have been in there.

[marc-vbzxw]

Do you have to lease the car or can you do a chase purchase or even a short term hire purchase ?
Can you purchase the car at the end of the lease or does that not make economic sense ?