Salary sacrifice reduces fleet risk

The reasons for financing your fleet via leasing are well known. The benefits include freeing up capital from depreciating assets, saving money on fuel and maintenance costs, ease of fleet management, increased flexibility and the provision of new, safer cars.

However, an increasingly key reason for leasing, rather than buying a company fleet is the rapid evolution of new car technology, and the improvements in efficiency and emissions that this brings.

Salary sacrifice goes one step further. Opening up the benefits of leasing the latest in new vehicles to almost all employees, encouraging even more people into the latest low emission cars. It’s a popular option for companies looking to offer their employees a cost-effective way of getting a new car where the employee agrees to give up a portion of their salary in exchange.

Thanks to the unique way salary sacrifice is structured, employees are also able to make significant savings on electric and Ultra Low Emission Vehicles through their salary – the average saving in 2022 for Tusker drivers was over £300.

Adding a salary sacrifice scheme to your organisation can help drivers choose environmentally friendly cars, whether they are company car drivers, cash allowance takers, or simply employees who are now able to take a car thanks to the offer of this employee benefit. It reduces the need for fleet administration, as Tusker manages the majority of this for their customers, simplifying the process while opening up the offering to more employees than a traditional company fleet would.

With carbon offsetting as standard, Tusker can also help towards sustainability, or ESG targets. A net-positive contributor to the environment, Tusker more-than offsets the emissions of the vehicles it puts on the roads, ensuring that there is minimal impact to the environment.

Risk is further reduced with the lifestyle protections that Tusker offers for drivers and organisations. The protections ensure that, should an individual leave their role, for a variety of reasons, the car will not be a financial burden to either the driver, or their employer. It’s a win-win for those looking to reduce the risk on their balance sheets.

Using a salary sacrifice scheme focused on EVs and Ultra Low Emission Vehicles, your organisation and drivers will benefit from:

• Complete confidence in your fleet costs – with a single monthly figure covering the complete cost of each car (minus the fuel/energy) and no need to consider the resale value at the end of the agreement, you can rely on your projected fleet costs.
• Carbon footprint reduction – ultra-low emission vehicles are a great way of boosting your company’s ESG goals, while reducing its carbon footprint. Partner with Tusker and we’ll also offset the emissions of any vehicles that you may still have on fleet, making all your vehicles completely carbon neutral.
• The option to extend your car benefit to almost all employees – an attractive benefit for many employees and gives people who could not otherwise afford a brand-new car the opportunity to drive one. Plus, it really helps attract and retain new and existing employees.
• All the usual leasing benefits – including a comprehensive maintenance, servicing and insurance package included within a single monthly amount.
• Even more risk reduction with our Lifestyle Protection scheme – work with Tusker and you’ll further reduce the risks associated with life events like parental leave, death or illness. You will not need to worry about being stuck in long-term contracts for unwanted vehicles.
   

Car leasing might not have been on your radar in the past, but with significant changes occurring within the automotive landscape and the future of fleets, now is the time to consider making a change.

Having offered salary sacrifice schemes for the past 15 years, and now working with over 1400 customers across the public and private sectors, more than 1.3 million drivers now have access to a salary sacrifice scheme.

Partner with Tusker – an experienced, award-winning, market-leading provider – and we’ll help you transition your fleet seamlessly to the next generation of vehicles.

Interested in finding out more? Visit www.tuskercars.com