6 Best car salary sacrifice brokers UK

Are you an employer looking to set up an employee benefits scheme to provide them with electric cars? Interested in the top 6 best car salary sacrifice brokers in the UK? You’re in the right place… 

Here are the best 6 car salary sacrifice brokers in the UK: 

  1. OSV – Provides over 100 years of combined experience in the motor industry. So, you’re in the hands of experts who really know their stuff. Enjoy access to the whole electric vehicle market with no deposit, an EV charger and installation and an EV care package (including insurance, breakdown cover, servicing, tyre repairs and maintenance). 
  1. Tusker – As a carbon-neutral company Tusker offers a range of electric cars with no deposit and an inclusive package including insurance, breakdown cover and maintenance. 
  1. Zenith – Provides a wide range of EV options, with additional benefits like maintenance, insurance, servicing, breakdown cover, replacement tyres, windscreen & glass cover and accident management. 
  1. Fleet Evolution – Provides drivers with a cost-effective and flexible car leasing solution with no credit checks, and fleet vehicle solutions for employers 
  1. Select Car Leasing – Offers salary sacrifice car schemes for both electric and non-electric cars with a variety of options. 
  1. Loveelectric – Provides many electric vehicles available with no deposit, maintenance included, breakdown cover and the option to add a home charger 

Why should I use Salary Sacrifice broker UK? 

So, why should I use a UK car salary sacrifice broker? Is it worth it? More often than not, a UK salary sacrifice broker provides a more convenient and cost-effective way to get a brand-new electric car. 

Sales woman smiling handing car keys to a man

What are the advantages of using a UK salary sacrifice broker?  

So, what are the advantages of using a UK salary sacrifice broker?  

  • Cost-effective: electric car salary sacrifice offers low monthly payments, low Benefit-In-Kind (BIK) rates, exemption from congestion charges, and fantastic tax and National Insurance reductions 
  • Competitive pricing: Unlike many car providers, brokers have access to multiple funders ensuring the most affordable car solution for you 
  • No upfront costs: Many UK salary sacrifice brokers do not ask for an upfront deposit 
  • Inclusive care package: Most schemes offer insurance, maintenance, and general servicing included in the monthly payment. Some can offer an optional home electric car charger with installation included 
  • Access to a wider range of cars: the best UK salary sacrifice brokers will have access to all manufacturers and car dealers – giving you more freedom of choice. 

If saving money on tax and NI contributions, paying less BIK rates, easy monthly costs and an inclusive care package sounds like the car salary sacrifice solution that’s up your street – using a UK broker for your salary sacrifice scheme is likely to be ideal for you. 

What are the disadvantages of using a UK salary sacrifice broker? 

Whilst there are many benefits to using a UK salary sacrifice broker, there are some things to consider as well: 

  • Tax implications: pension contributions, maternity pay and tax credits can all be affected whilst taking part in a salary sacrifice scheme 
  • Limited mileage: there is an agreed amount of mileage you are allowed per year, exceeding this can result in fees 
  • Early termination fees: if the employee leaves the contract the employer may be faced with early termination fees. This can be overcome with Early Termination Insurance offered by OSV  
  • Credit rating: Car salary sacrifice schemes involve a credit check on the business looking to set it up for their employees. If the check fails, this will impact the company’s credit score. 

So, there are a few disadvantages to consider when looking at car salary sacrifice schemes. But there are also a number of benefits that outweigh the potential risks and limitations too.

We advise chatting with a Salary sacrifice specialist for advice on whether or not your company is suitable for setting up a scheme. 

Should I use a car salary sacrifice broker in the UK? 

Man smiling in a car

So, should you use a UK broker for car salary sacrifice? When choosing your broker, it is vital you first understand your needs, circumstances and wants. Here are a few things to consider: 

  • Budget: enjoy low fixed monthly payments – making budgeting easy! Remember to ensure taking part in car salary sacrifice doesn’t take you below the minimum wage threshold, and you can still live comfortably after the salary sacrifice deductions. 
  • Employment status: Self-employed team members are not eligible to take part in the scheme. If you work for a PAYE company and the scheme is offered, it’s worth checking with your employer if you fit the requirements to participate. 
  • Tax implications: Although there are tax, NI and BIK rate savings in car salary sacrifice, there are other areas that could be affected including pension contributions, maternity pay and tax credits. 
  • Credit rating: Car salary sacrifice schemes involve a credit check for the company set it up, so it’s worth checking the business’ finances beforehand to ensure it doesn’t get declined – as this will affect the credit score. 

Looking for a cost-effective and convenient way to get a brand-new electric car? A salary sacrifice broker is the perfect solution for you.  

Remember to consider your individual needs and requirements when choosing your salary sacrifice car solution. Take advantage of Vehicle Specialist advice and ask as many questions as you need, it’s what they’re there for! 

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