A new salary sacrifice scheme able to deliver savings of up to 60% on electric cars is now available from Silverstone Leasing.

Silverstone Leasing’s Tom Bailey launching the EVolve Car Scheme

The new EVolve Car Scheme is designed to support sustainable, affordable travel solutions for UK businesses while enabling employees to slash the cost of going electric using the salary sacrifice mechanism.

It offers major cost benefits for participants, including reduced income tax costs and national insurance contributions for drivers, along with lower Class 1A NICs for fleets.

Furthermore, the monthly instalment covers a comprehensive package, encompassing car insurance, road tax, roadside assistance, MOT testing, vehicle maintenance, replacement tyres, and accident support.

There are no initial upfront payments or deposits required and once the initial exclusion period has passed, employees can exit the agreement without incurring any early termination fees, whether due to resignation or redundancy.

The new scheme builds on the firm’s previous sal-sac offering, providing better benefits and bigger discounts, and launches as EV salary sacrifice take-up continues to soar. The latest Leasing Outlook survey from the BVRLA revealed 55% year-on-year growth for the funding method.

Silverstone Leasing’s Tom Bailey said: “There are significant savings to be made through Evolve, with all participants saving at least 30% on electric vehicles and some up to 60%.

“With this new scheme we are committed to providing a tailored customer experience to create customised solutions that boost employee satisfaction and business efficiency.

“It is completely free to join the scheme and we provide all the support you need to launch it to your employees, including employee webinars and HMRC paperwork management.”