DF Capital has introduced a salary sacrifice scheme, augmenting its benefits and enabling its staff to switch to electric cars at lower cost.

DF Capital’s salary sacrifice scheme is run in partnership with Octopus Electric Vehicles

Run in partnership with Octopus Electric Vehicles, the scheme enables employees to pay EVs using part of their gross salary, making savings on income tax and National Insurance.

There are over 30 cars available to DF Capital employees – including vehicles such as the Tesla Model 3, Nissan Leaf, BMW i3 and the Hyundai Kona Electric – ensuring the switch to electric is more accessible to a wider audience and very cost effective.

All employees have to do is select their choice of car, the length of term and mileage and the vehicle is then ordered for eligible participants. There is no initial payment to be made, no individual credit checks to go through, and maintenance, servicing, insurance or breakdown cover are covered by the payments to the scheme.

The new scheme joins a number of existing employee benefits run by the specialist bank, including impressive list of employee benefits on offer, including access to a group pension plan with a full 10% employer contribution and no mandatory employee contribution, plus private medical care for everyone, gym membership and 30 days’ annual leave as standard.

Charlie Michael, chief sustainability and people officer, DF Capital, commented: “We already offer great rewards to everyone who works here, but this new perk is something special as it allows us to unlock affordable, clean, green driving for all our employees.  It was a natural extension to our benefits package as it aligns to our social conscience and sustainability ethos. We look forward to contributing towards a more climate friendly environment as a business moving forward.”

Natalia Peralta Silverstone, head of propositions at Octopus Electric Vehicles, added that the electric vehicle salary sacrifice scheme is a win-win for both the business and its employees.

“DF Capital gets to supercharge its employee benefits package and everyone within the business is happy saving money, while doing their bit for the planet.”

She added: “The latest stats show that EVs aren’t a thing of the future, but what customers want now. We will see hundreds of thousands more UK drivers sitting behind the wheel of an electric-powered car in 2022 and beyond. We look forward to working with DF Capital to help contribute to that number and speed up the transition to zero emission cars.”