Examining Personal Leasing
If your company offers your employees a cash allowance, you have associates who do not qualify for a company car, or you are simply considering offering a new company benefit, then Personal Leasing, may be the right choice for your business.
Previously known as ‘Lets Lease’, Personal Leasing from Pendragon Vehicle Management (PVM) offers a bespoke employee car 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. Your business just simply has to launch the scheme.
Reasons to choose Personal Leasing
There are a variety of reasons to consider Personal Leasing, as we've outlined below.
No company car tax
Personal Leasing from PVM is a car benefit scheme where you can offer your employees a brand-new car on a personal contract hire agreement. The benefit of this is that there is no company car tax to pay and no need to worry about early terminations should the employee leave the business.
Straight forward and convenient
The scheme is completely free for your business to set up and there is significantly less administration involved compared to salary sacrifice and ECO schemes. All you have to do is launch the scheme, whereas salary sacrifice for instance requires each order to be checked to ensure that employees’ salaries do not fall beneath the national minimum wage.
For employees, they will make convenient monthly rentals that allow for easy budgeting. These rentals also include Road Tax, which is one less thing they will need to worry about arranging. At the end of the contract, the employee can hand the vehicle back and simply choose a new car.
Lots of choice
The choice of vehicle on offer is also much greater than what you might find in a traditional company car scheme, with over 20 manufacturers to choose from, and exclusive vehicle offers only available to our Personal Leasing customers.
Personal Leasing offers your employees the opportunity to get a brand-new car. New cars feature the latest in fuel efficiency technology, making them cleaner than ever before - particularly with manufacturers striving to hit emission targets - as well as offering more and more alternative fuel options and improved vehicle technology.
By actively promoting greener vehicles to your employees, you can help project a greener image.
Duty of care
If an employee uses their own car for business use, then there is a grey fleet risk to your business. By offering Personal Leasing, you can encourage your employees into a brand-new car that comes with all the latest safety technology such as automatic braking systems and lane departure assist.
Personal Leasing works particularly well when combined with our risk management program, where you can ensure that your drivers are fit to drive for your business.
Improve retention and motivation
Benefits are increasingly becoming a point of differentiation when attracting and retaining employees. Personal Leasing presents an affordable alternative to company cars and salary sacrifice, whilst still enabling employees to get a new car.
A well-communicated, well-launched Personal Leasing scheme can help make employees feel valued, and more motivated in their work.