How to find the best leasing deals
You'll make the most savings on EVs if you go through a B2B scheme like salary sacrifice.
Why EV salary sacrifice?
Did you know around 80% of EVs on the road in the UK are business-owned. This includes EVs on the road through business leasing and EV salary sacrifice schemes.
That's because the manufacturers themselves can't offer the exclusive discounts available through government incentives and schemes, such as EV salary sacrifice.
What’s the difference between salary sacrifice and personal leasing?
EV salary sacrifice explained
Salary sacrifice is a way of getting access to a brand-new car through your gross salary and saving up to 40%. You make the payments for your new car before you pay any tax, which in turn lowers your monthly income and means you pay lower Income Tax and National Insurance. So, the money you’d usually never see because it goes straight out of your pay to HMRC will now go directly to paying for your car. Win-win!
Even better, with Octopus EV salary sacrifice you also get 4,000 free miles of charge, charger, insurance, servicing, tyres, maintenance, breakdown, the lot, all included in your monthly payment.
Personal leasing explained
Personal leasing is the same as a long-term rental. You’ll drive the car over a set period and return it to the leasing company at the end of the agreement.
Also, when you lease a car through personal leasing, you’ll put down an upfront deposit, make monthly payments and then either return the car to the leasing company at the end of the contract or, in some cases, pay a lump sum to keep it at the end of the lease.
These costings are based on Nimble fins insurance numbers, average car running costs in the UK, AA breakdown recovery costs, checkatrade tyres on the assumption that one set of tyres has been changed in the last 20k miles. It's also assumed that the owner of the vehicles is 40 years old and a 20% tax payer.
Why choose the Octopus electric car scheme?
Over 5,000 employers are giving their employees the ultimate benefit with our electric car salary sacrifice scheme. They simply lease an EV from us and the employees pay for it from their pre tax salary - saving them money and making owning an EV more affordable.
Don't get left in the dust, join those forward thinking organisations and experience the electric revolution first hand.