Pendragon Contracts has launched Simplydriveit – its new salary sacrifice scheme that aims to be risk and admin free for organisations.

Employees who take up the scheme sacrifice part of their salary before tax and NI is calculated in return for acquiring a company car.

Simplydriveit can create quotes online through the dedicated Pendragon webquotes system.

Employers can lease the vehicle from Pendragon Contracts and the full cost of the lease together with three years’ fixed comprehensive motor insurance is deducted from an employee’s gross salary through the payroll.

By selecting a vehicle with low CO2, the benefit-in-kind paid will be less than the Income Tax and NI. In addition, the cost of the lease reflects corporate discounts on the vehicle not normally available to retail customers, further reducing the net actual cost to the employee compared with a personal contract plan.

The simplydriveit package incorporates the purchase of the vehicle, depreciation, resale value and interest charges, with the option to purchase the vehicle at the end of the lease period.

The vehicle is provided under a full maintenance scheme, which includes all service, batteries, exhausts and tyres under normal wear and tear conditions.

Other contractual liabilities associated with a resignation, early termination or vehicle write-off are eradicated, as gap insurance and early termination cover are mandatory.

There are many different methods of funding your fleet vehicles, but what’s best for you and what are your key considerations? Find out in Fleet News' Funding and Leasing section.