The attraction of a company car is a strong one, and many people lover the idea of being able to drive a brand new vehicle as part of their employment. The system is great all round, with benefits for both employers and their employees, including the following:
The Job Package – As we’ve already said, the prospect of a company car is very enticing. Employers can be sure that they’ll receive more job applications, and people will be more enthusiastic about working for them if a car is on offer.
Tax Breaks – There are tax incentives for companies who offer salary sacrifice schemes. Some of the cost can be written off, which means an additional benefit that they can offer employees, without a large additional expense.
Low Cost Vehicles – Businesses generally have much larger purchasing power than individuals, which mean that they can negotiate discounts when ordering more vehicles. This helps to bring down costs for both employers and employees. If an individual was going to lease a care independently, it would almost certainly cost more.
Salary Sacrifice – As employers give a certain amount of their income to this scheme, they don’t have to worry about making the payments. This means that there’s no budgeting involved, which is popular with many people.
Reliability – Employees with new cars are far more reliable and mobile. They do not have to rely on public transport for the commute or business journeys, and their car is far less likely to need repairs, maintenance or to break down. This is beneficial to employers and employees.
Image and Luxury – It’s probably not the first thing people think of, but leasing a car means that you’ve got a brand new vehicle. This gives the business a better image, and also means that employees have the chance to drive a car normally out of their price range. Most luxury cars are leased, for instance.
Companies such as www.hitachicapitalvehiclesolutions.co.uk can offer the full range of services for this kind of scheme. They can even manage large fleets for businesses who require a fully mobile workforce.
If your company offers a salary sacrifice car scheme, and you’re not taking advantage, then you may well be missing out.
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