Subscription-based Electric Car Scheme to Lower Costs

 

People eager to get into an electric car without a huge upfront cost or long commitments can now get one via subscription for as little as £222 a month through their employers. The new subscription model from The Electric Car Scheme differs from traditional leases available through salary sacrifice, which have multi-year terms and typically lock out startups by requiring that any company using the scheme have traded for two years or more.

 

Salary sacrifice allows employees from participating companies to pay for leases or subscriptions with their pre-tax income, meaning they can enjoy savings of between 30 and 60 per cent. The initiative operates like the Cycle to Work scheme, but for electric cars. Businesses looking to take part in the scheme don't have to pay a penny or handle the administration of the scheme, with the Electric Car Scheme looking after the entire process. Once an employer signs up to the initiative, The Electric Car Scheme helps their employees select and order the best electric car for them. The employer is also supported throughout the process with payroll, admin and finance support offered by The Electric Car Scheme. For further information see the IDTechEx report on Electric Cars 2023-2043

 

The Electric Car Scheme CEO and Co-Founder Thom Groot commented: "More than 80% of employees in the UK want their next car to be an electric car, and it's only right that the government rebate for electric cars is made accessible to as many people as possible. Subscriptions have been a great way for people to try driving and owning an electric car. Now The Electric Car Scheme can help more people try electric car subscriptions and make this step as affordable as possible. I know there are heaps of young companies looking to do something different right now by operating far more sustainably than their competitors. Subscription-based electric cars is a great way to do this, and it won't the company itself a penny."

 

The Electric Car Scheme partnered with Onto to offer subscription cars. Onto CEO and Co-Founder Rob Jolly commented: "This partnership is an exciting proposition for employers and employees alike. As the shift to electric cars continues, we want to continue making electric cars accessible to all and provide customers with a cost-effective, hassle free, flexible experience that also makes them feel good about their impact on the planet."

 

Once an employer signs up to the initiative, The Electric Car Scheme helps their employees select and order the best electric car for them. The employer is also supported throughout the process with payroll, admin and finance support offered by The Electric Car Scheme.

 

Salary sacrifice offers huge savings, depending on your income and the car chosen. See below for examples:

 

Earning less than £50,271

Renault Zoe Hatchback for £339 a month (31% discount)

Hyundai Ioniq Electric Hatchback for £346 a month (31% discount)

Tesla Model 3 for £749 a month (32% discount)

 

Earning £50,271-£100,000

Renault Zoe Hatchback for £293 a month (40% discount)

Hyundai Ioniq Electric Hatchback for £300 a month (40% discount)

Tesla Model 3 for £643 a month (41% discount)

 

Earning £100,000-125,140

Renault Zoe Hatchback for £222 a month (55% discount)

Hyundai Ioniq Electric Hatchback for £228 a month (54% discount)

Tesla Model 3 for £462 a month (58% discount)

 

The Electric Car Scheme is a salary sacrifice employee benefit that allows employees to access electric cars at a 30-60% lower cost. The Electric Car Scheme is the first available offering from parent company, Net Zero Choices. The company was set up in June 2020 after Co-Founders Thom Groot and Tom Eilon found the government's tax incentive for employees to switch to electric and go green impossible to access. For more information visit: www.electriccarscheme.com 

 

Onto was founded in 2018 by Rob Jolly and Dannan O'Meachair and provides an accessible, flexible and easy way for motorists to join the EV revolution. In the last four years, Onto's new and innovative all-inclusive car subscription service has proved a hit with consumers - enabling many to move away from the traditional internal combustion engine. Onto has expanded rapidly, partnering with new charging and electric car providers as more EVs become available to suit all budgets. Onto currently offers 18 models, with subscriptions starting from £489 per month. Onto also offers company cars and salary sacrifice cars via Onto for Business. To discover more please visit: www.on.to