CheapEV.co.uk has launched a “new evolution” in salary sacrifice, promising to slash leasing costs for employees by 10% to 20%.

The new salary sacrifice platform promises “a major shake-up to the old boys’ network of major salary sacrifice scheme providers”, slashing EV leasing prices for employees by “forcing price competition within the sector for the first time”.

Steve Endacott, chairman, explained: “The majors have always operated an old boys’ network, refusing to compete with each other on price. Although they have been forced by legal challenges to drop ‘exclusive supply’ clauses from their contracts, this action effectively forces businesses to agree to their solus supply terms to set up an EV salary sacrifice scheme.”

CheapEV believes that having just one provider for a salary sacrifice scheme inevitably leads to employees paying higher lease costs, because there is no price competition for that provider’s business.

The company is working to break this model by keeping all its pricing fully public and positioning itself as a ‘secondary supplier’ that employers can add to existing schemes to create healthy price competition.

Richard Plant, CTO, elaborated: “The major salary sacrifice scheme providers do not have public-facing sites showing EV lease prices, as these would make them easily comparable. Instead, they deliberately ring-fence access so that only the employees of specific companies can see the prices offered to their business.

“Secondly, because these prices are fully ‘bundled’ packages, it is hard for employees to compare them with other providers, as there are no publicly facing prices showing equivalent bundled prices. This is not an accident and is a deliberate strategy to allow them to overcharge employees, and CheapEV intends to break this monopoly and expose their excessive prices to all.”

CheapEV says its prices will always be publicly available for comparison, and it is currently developing a ‘Shop the Rest and then Lease for Less’ tool for employees.

The platform will offer two ways for employees to compare prices. These include screen-grab uploads via a feature allowing users to upload a screenshot of an existing quote to instantly generate a cheaper alternative.

Employees can also use a CheapEV browser tool that reads competitors’ private portal pages and automatically displays CheapEV’s lower price right next to it.

Plant commented: “Bluntly, there will be no hiding place for expensive and uncompetitive lease deals anymore, and we will drive down salary sacrifice prices by forcing competition from ‘employee up’, with employees demanding a choice of SS supply from their employers to get access to CheapEV prices.”

CheapEV, which has benchmarked its prices against those of all major suppliers, attributes its claimed average saving of 10-20% on most leases through a lean infrastructure and a major sourcing network that gives access to every lease price in the market.

Rather than operating on the high margins of traditional providers – which Endacott claimed can reach up to £2,500 per vehicle based on public account analysis – the company uses an existing network of 60 lease brokers and multiple financial funders.

This allows the company to draw on the exclusive deals it says that manufacturers are offering to clear the overhang of new EVs created by the UK’s ZEV mandate.

Endacott commented: “Working with a wide range of brokers and funders always means we have access to these deals, whereas the majors fund their own fleets and therefore usually have only one exclusive deal at a time.”

CheapEV also says its price advantage stems from providing all the infrastructure for implementing the salary sacrifice scheme, including fleet insurance, maintenance and early termination cover, as well as full marketing, payroll and legal paperwork for employers.

The company is outspoken about its mission, saying it’s working on “smashing the current cosy old-boys club and becoming the most hated entrant in the EV sector”.

Chairman Steve Endacott commented: “Being a hated brand, feeding off the misery of our overpriced competitors is my ultimate ambition.”

CheapEV launches its Beta site on Tuesday 25 September 2026 and also says it’s “always” looking for new broker partners.