Attract, reward and retain the best employees with a low emission 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. As part of the group behind Evans Halshaw and Stratstone, we can offer your employees amazing corporate discounts on new cars and an all-inclusive fixed monthly price that includes tax, insurance, maintenance and more.
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. 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.
This monthly payment includes:
"A scheme with no upfront costs for both the employer or employee. A fantastic employee benefit that we have offered for over 11 years, which has proven to be very popular."
HR & Payroll Transactional Manager, The Royal Mint
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.
Why it's good for employees
Pendragon salary sacrifice enables employees to get a brand new car, with a convenient monthly payment deducted from their salary before tax. With no credit check for the driver, no up-front fee and no hassle: the monthly payment includes fully comprehensive insurance, servicing, MOT, road tax, breakdown cover and tyres at no extra cost. Drivers just need to add fuel.
If the driver chooses an Ultra Low Emission Vehicle they can save up to 40% on driving a brand-new electric car and will only be charged the Benefit In Kind (BIK) on the vehicle but the rates for electric cars are extremely low until 2025. So employees will see savings on the tax and national insurance that would have been due on the amount of salary sacrificed.
Choosing low emission vehicles
By choosing a low emission vehicle your drivers will only be charged the benefit-in-kind on the vehicle, providing savings for the amount of salary sacrificed.
Reasons to choose low or zero emission vehicles:
- 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
Low and zero emission Salary Sacrifice examples*
*Please note: The prices quoted are based on a 20% taxpayer with 3 year contract and 10,000 yearly mileage allowance. These prices were correct as of September 2021 but are subject to change depending on the contract details and driver's tax code. These vehicles should be viewed as examples only.
Got a question?
If you have any questions about our Salary Sacrifice scheme, contact the team: