An introduction to Pendragon Let's Lease
Let’s Lease is a bespoke scheme where your employees can get a new car on a personal contract hire agreement direct with us. That means no company car tax and no admin for your business - simply launch the scheme and go!
Find out more by calling 01332 267 389.
Why it's good for employers
Setting up an employee car scheme is very beneficial for employers and there are even greater benefits if you choose Let's Lease.
To start with, offering your employees a new car can lead to improved productivity, motivation and increased retention.
Let's Lease is free to set-up and as the contract is direct with the employee, there's no administration and complex tax hoops to jump through. Let's Lease is also ideal if you offer a cash allowance, as you can be sure that your employees are looking at the latest vehicles, which are more fuel efficient than older vehicles and come with the latest in-vehicle safety technology.
By offering new cars, you can also enhance your green credentials by encouraging employees to move away from older cars into cleaner vehicles.
Unlike other employee benefit schemes, there's no benefit-in-kind tax to pay or early terminations to worry about - the employee simply takes the vehicle with them.
What is PCH?
Personal Contract Hire (PCH) is a very attractive method of financing a new car. Your drivers will make an advanced rental followed by monthly rentals over the length of a 2-4 year contract. The monthly rental depends on the vehicle selected, the annual mileage and term.
This scheme is ideal for employees who wish to drive a new modern car with the majority of running costs included in a monthly rental.
At the end of the contract, the employee simply hands the vehicle back with nothing else to pay, subject to the contract mileage not being exceeded and the vehicle complying with fair wear and tear.
3 Reasons you should choose Let’s Lease
- It’s easy to implement and to use. Your employees choose a vehicle through our online platform, and conveniently get a quote automatically emailed to them.
- New vehicles include the latest safety technology. By encouraging drivers who use their own vehicle for business use into a new car, you’re helping comply with your duty of care.
- Unlike with salary sacrifice or an ECO scheme, a Let’s Lease contract is direct between the employee and us, significantly reducing administration. The scheme is also free to set-up.