Silverstone Leasing launches EV salary sacrifice scheme

Silverstone Leasing has launched a new electric vehicle (EV) salary sacrifice scheme for UK employers and employees.

The new EVolve Car Scheme includes 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.

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.”

Recent figures published by the British Vehicle Rental and Leasing Association (BVRLA) showed that business contract hire (BCH) has grown 4.4% year on year, bolstered by high EV uptake from salary sacrifice, which is up 55%.

In quarter two 2023, BVRLA figures show that seven in 10 fleet vehicles funded via BCH were for plug-in vehicles (48% EV, 22% plug-in hybrid).