IF SME firms aren’t convinced by the growing popularity of salary sacrifice as an employee benefit and retention tool, then take a lead from insurance giant Allianz.
The business has just rolled out the dual branded CBVC/ElectriX programme to its eligible staff with an online portal where they can research the cars available. Here employees can access reviews and see the costs of optional extras and mileage bands.
Through the scheme CBVC says that any electric vehicle is available, ranging from the MG ZS through to the Porsche Taycan – with some vehicles available for delivery within 30 days.
Salary sacrifice is a tax efficient way for businesses to offer their employees a fully maintained electric vehicle and helps reduce the number of private cars used for business, known as the grey fleet.
Salary sacrifice is also useful as part of an employment package and typically offers employees a significant reduction on an electric vehicle leased personally. Unlike a personal lease, there is no upfront deposit or credit check required and doesn’t impact an employee’s personal credit lines.
The CBVC Vehicle Management team is very excited to launch the salary sacrifice scheme for Allianz. Salary sacrifice offers such a brilliant option for both employers and employees and makes an electric car a really affordable option. Introducing salary sacrifice at this scale means that together we can make a real difference to the environmental, social and governance agenda and reduce carbon emissions for Allianz.
According to the British Vehicle Rental & Leasing Association (BVRLA), salary sacrifice is currently the fastest growing car finance method.
We’re so excited to have launched this scheme for our employees. Sustainability is at the core of our business and by offering our people the opportunity to move to an EV is a huge step forwards in managing our own ‘grey’ fleet. Both Allianz and LV= insure EVs so this is a very natural extension of our aims as a commercial and personal lines insurer. It’s also a great addition to our employee benefits as a cost-effective way to introduce EV ownership. We’ve been touring our branch network as part of the launch and the initial feedback has been terrific.
Fleet management company CBVC and ElectriX are no strangers. CBVC Vehicle Management runs the end-to-end leasing journey for ElectriX – the one-stop shop for electric cars from LV= General Insurance which is owned by Allianz.
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