Fleet Evolution, a motoring-focused employee benefits leader specialising in electric vehicles, is launching a new salary sacrifice scheme for micro businesses and new startups. The LEAN scheme is designed especially for smaller organisations with a financial barrier to full scale salary sacrifice programmes, and businesses who want to gauge interest in such a scheme.
Car salary sacrifice schemes, which work in much the same way as childcare vouchers and cycle to work programmes, provide employees with an opportunity to relinquish a portion of their pre-tax salary in exchange for a fully maintained vehicle, making it more cost effective to embrace green motoring. However, while these schemes are a fantastic way to encourage greater environmental responsibility amongst teams, many smaller businesses are finding that they lack the solid financial data often required by lenders.
The new LEAN scheme is a micro-focused solution that provides even the smallest of organisations with access to a pared down version of Fleet Evolution’s popular programme. Under the scheme, employees can select from a slightly smaller selection of electric vehicles and hybrid models which, while not new, are all under 6 months old and leased in perfect condition.
Andrew Leech, Founder and Managing Director of Fleet Evolution said, “When we launched our very first salary sacrifice scheme back in 2011, we were – and continue to be – incredibly proud of opening up this sort of employee benefit option to companies of all sizes, and we remain one of the only companies to do so. But over the years, we’ve really listened to the needs of our clients, and we’ve been on a mission to make our schemes as inclusive as possible. That’s why we’ve launched our new LEAN scheme, ensuring we’re offering the very best strategies for every one of our clients.”
Interest in green motoring is on the rise, with 6.5 million households expected to invest in an electric car or hybrid vehicle over the next 10 years. Today, it’s estimated that electric and hybrid cars account for around 1 in 7 new sales as drivers look to minimise their impact on the environment, improve air quality across their towns and cities, help the Government meet its climate change goals, and, in the long term, save money by eradicating petrol consumption.
However, electric vehicles can be much more costly than their petrol or diesel counterparts, making them financially inaccessible to many. Salary sacrifices such as the LEAN scheme can reduce these costs by as much as 50%. For example, while a new Hyundai Kona will set a driver back around £30,000 retail, employees can pay as little as £457 per month under the LEAN scheme. And the Hyundai Kona is not the only electric car available. LEAN scheme participants can also choose from the Kia e-NIRO, Jaguar I-PACE, and BMW 13, along with a range of hybrids including the BMW X2, BMW 330e, and 530e.
While the LEAN scheme is a stripped down alternative to Fleet Evolution’s standard benefits programme, participants still get the same fantastic service that the company has become known for. Fleet Evolution’s efficient scheme management ensures that there’s very little admin for organisations, leaving entrepreneurs with more time to focus on growing their core business.
To find out more about Fleet Evolution, visit www.fleetevolution.com