Electric car salary sacrifice schemes

With our simple and easy to use portal, your employees choose their preferred car and lease agreement. We do all the calculations for them and for you, so everyone knows where they stand.

Once your eligible employees choose the car they want to drive (we offer a full range of electric vehicles including Tesla, BMW and Audi as well as SUVs and Vans), a monthly leasing cost is assigned from us to your employee. We then even set the payroll up for you, deducting the sacrifice from each employees’ pre-tax salary and adjusting their PAYE and NI contributions accordingly.

When you’re all signed up, your employees get access to our safe and secure online portal to choose their car and define the terms of their lease. It’s a simple process that takes the onus of organisation away from your business.

We do the hard work for you in setting up payroll and organising the salary deductions right across your company. We even help you promote it to your employees once it’s up and running.

With a tailor-made salary sacrifice scheme from DriveElectric, we help cover off all eventualities and will work alongside you to ensure you can update and evolve your scheme in line with the needs of your business. Crucially, we cater for all scenarios when a lease might need to finish early.

Early termination protection

So, what happens if you want to terminate a lease early? For many lease agreements, this would result in financial penalties. However, at DriveElectric we build early termination protection into our car salary sacrifice schemes to protect both the employee and employer from financial penalties.

Scenarios where this may come into play include:

• Job changes: If an employee gets a new job in a different location or is fired, they might need to terminate their lease early. 
• Financial changes: Significant life events like marriage, divorce or starting a family might mean they need a new type of vehicle or to change their transport needs. In this scenario, an employee might opt for early termination to change their vehicle within the scheme or step away from the scheme entirely.
• Financial problems for the business: If a business is going through a period of financial uncertainty, they may have to make employees redundant, which would necessitate breaking the lease agreement.
• Health problems for an employee: Following health problems, an employee may be unable to drive or might need to adapt their vehicle to accommodate medical needs. The EV may no longer be appropriate, which could lead to early termination.
• Relocation: If an employee relocates as part of their job (especially aboard) the leased vehicle may no longer be feasible. This may result in early termination.

At DriveElectric, you can choose to include early termination into your salary sacrifice scheme to ensure any of the above scenarios are covered off for both your business and your employees.