Salary Sacrifice

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What is Salary Sacrifice? Put simply, it's one of the most convenient ways for drivers to get a brand new car, and can be a very attractive financing option for both employers and employees.

How Salary Sacrifice works

  • A fixed amount is taken from the driver’s salary each month to pay for a new car, as well as the other costs of vehicle ownership: servicing, maintenance, insurance, breakdown cover and road tax.
  • Through Salary Sacrifice, your staff can benefit from discounts and financing rates that aren’t available at dealerships, as well as Income Tax and National Insurance savings. This enables them to drive a brand new car for less.

 

Is Salary Sacrifice right for your business?

Offering Salary Sacrifice car schemes is a great way for employers to attract, motivate and retain the best employees. However, it requires careful consideration to ensure that schemes are HMRC-compliant and don't create costs that cannot be borne in the longer term.

If you're considering introducing a Salary Sacrifice scheme, our expert team can help you decide if it will have potential benefits for your business.

Take a look at our funding overview page for other options that may suit your business, or speak to one of our experienced fleet consultants on 0343 3519073.

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