Why EVs are the future of salary sacrifice cars
Electric vehicles are no longer just the cars of tomorrow - they’re very much the cars of today. With technological advancements, increasing affordability through tax breaks, and undeniable environmental benefits, EVs have become a game-changer in the world of salary sacrifice car schemes. Here’s why they’re leading the charge (pun intended) and why they’re set to dominate salary sacrifice schemes in the years to come.
1. Unbeatable tax efficiency
One of the biggest draws of salary sacrifice car schemes is the tax savings they offer. EVs supercharge this benefit with ultra-low Benefit-in-Kind (BiK) rates. Unlike petrol or diesel cars, which are taxed heavily based on their emissions, EVs enjoy minimal BiK rates, making them the most cost-efficient option for employees. These lower rates can save you hundreds or even thousands of pounds a year.
2. Lower running costs
EVs aren’t just more tax efficient - they’re also easier on your wallet when it comes to running costs. Charging an EV is significantly cheaper than refuelling a petrol or diesel car, and with fewer moving parts, maintenance costs are lower too. For salary sacrifice drivers, these savings amplify the appeal of EVs as a long-term investment in smarter driving.
3. Access to all-inclusive packages
Many salary sacrifice car providers offer all-inclusive EV packages that cover everything from insurance and maintenance to breakdown cover. This means employees can enjoy a hassle-free driving experience with no unexpected costs. EV drivers also benefit from perks like free or discounted home chargers and energy tariffs as part of some schemes.
4. Environmental benefits that align with company values
With climate change at the forefront of global concerns, driving an EV isn’t just about saving money, it’s about making a difference. EVs produce zero tailpipe emissions, helping to reduce air pollution and carbon footprints. For companies offering salary sacrifice car schemes, promoting EVs aligns with corporate sustainability goals and enhances their reputation as environmentally responsible employers.
5. Growing EV charging infrastructure
Gone are the days when charging an EV felt like hunting for treasure. The UK’s charging infrastructure is expanding rapidly. Rapid and ultra-rapid chargers make recharging quick and convenient, making EV ownership more accessible than ever.
6. Government incentives and support
The UK government continues to incentivise the transition to EVs. From grants for home charging points to exemptions from congestion charges, EV drivers enjoy benefits that make switching even more appealing. Additionally, the government has committed to banning the sale of new petrol and diesel cars by 2035, accelerating the shift towards electric vehicles. This clear roadmap reinforces EVs as the future of driving and highlights the importance of transitioning sooner rather than later. These incentives make salary sacrifice EV schemes a no-brainer for employees looking to maximise savings.
7. A premium driving experience
EVs aren’t just practical - they’re packed with tech and comfort features that make driving a pleasure. From instant acceleration and quiet cabins to cutting-edge infotainment systems, EVs offer a premium experience that petrol and diesel cars can’t match. For employees upgrading through a salary sacrifice car scheme, an EV can feel like a significant lifestyle upgrade.
Is an EV right for you?
Whether you’re an employee exploring a salary sacrifice car scheme or an employer looking to enhance your benefits package, EVs offer unmatched advantages. Lower costs, environmental benefits, and an ever-improving infrastructure make them the smart choice for the future of driving.
Head over to our Living With an EV Hub to find out more about how an EV could slot into your life, or why not take a look at our range of EVs available as salary sacrifice cars.
