Attract, reward and retain the best employees with a Salary Sacrifice Scheme
A Pendragon Salary Sacrifice car scheme is the perfect employee benefit, offering complete convenience and savings over retail.
Pendragon Let's Drive is a salary sacrifice scheme with no credit check and no upfront fee, why would your employees get a new car any other way?
How salary sacrifice works
Pendragon Let's Drive is an Optional Remuneration Arrangement which is a benefit scheme that enables employees to get a brand-new car.
There are no credit checks required for the driver and no large up-front payment on the vehicle. The all-inclusive monthly payment that is deducted from their salary before tax, all the employee has to worry about is fuel.
This monthly payment includes:
- Maintenance and Repair
- Breakdown Cover
- Road Fund Licence
- Accident Management
A salary sacrifice vehicle is subject to company car tax, also known as Benefit-In-Kind. This is paid before tax and national insurance, meaning there are plenty of savings to be had.
Why it's good for employers
A new car can help increase employee motivation, leading to improved productivity and retention and as the employer it costs you zero to set up and is easy to run. No catch. Just really great value.
As the employer you lease the car on behalf of your employee and they then get to drive a brand-new electric car using part of their gross salary - making savings on income tax and national insurance.
A Pendragon salary sacrifice car scheme can also help towards meeting duty of care obligations for drivers who use their own vehicles for business use. By providing your drivers with brand new, fully maintained vehicles equipped with the latest in vehicle safety and technology. There is also a positive impact on the environment as employees are encouraged to move away from older cars into new more fuel-efficient vehicles.
Choosing low emission vehicles
If your employees choose an Ultra Low Emission Vehicle they could see even greater savings on tax and national insurance, as the Benefit-In-Kind (BIK) rates for electric cars are extremely low until 2025.
Reasons to choose electric:
- Employees can benefit from low BIK tax and National insurance rates
- Reduced fuel consumption and the associated costs
- Helps reducing environment impact, aids improving air quality and can help promote a positive corporate image
- Drivers gain exemption in many clear air zones and ultra-low emission zones
- Access to the latest innovative in car and battery technology increasing vehicle range