Zero risk guarantee launched by EV salary sacrifice provider

Loveelectric.cars has launched a new ‘zero risk guarantee’ for its electric vehicle (EV) salary sacrifice scheme.

The move, it says, will eliminate financial risks from day one and builds on Loveelectric’s existing ‘early termination protection’, which already safeguardes employers from unexpected costs. 

It explained that the new zero risk guarantee adds to these protections by immediately addressing the ‘what ifs’ that often prevent businesses from moving forward with salary sacrifice, including resignation, redundancy, and family leave. 

Without protection, Loveelectric explains these events could leave businesses liable for termination fees of up to thousands of pounds per lease — costs that the zero risk guarantee completely eliminates.

According to the British Vehicle Rental and Leasing Association (BVRLA), EV salary sacrifice schemes saw a 63% year-on-year increase September 2024. 

However, despite this growth, Loveelectric says that many businesses remain hesitant to implement an EV salary sacrifice scheme due to concerns about potential financial risks, such as early termination fees if an employee leaves mid-lease.

“At Loveelectric, we’re committed to helping UK businesses drive towards net zero with confidence,” said Steve Tigar (pictured), CEO and founder of the salary sacrifice provider. 

“Not only is there zero cost to businesses introducing an EV salary sacrifice scheme but now, with our zero risk guarantee, it’s also completely risk-free. 

“It’s another step forward in making EV salary sacrifice the obvious choice for businesses across the UK.”

Many organisations hesitate to adopt EV salary sacrifice because of financial concerns if employees leave mid-lease. 

Loveelectric says that with its zero risk guarantee the financial risk is completely removed.

The zero risk guarantee is funded by a “small fee” added to employees’ lease costs. For most businesses, Loveelectric says that its standard early termination protection provides ample protection. 

The zero risk guarantee instead offers a tailored solution for risk-averse organisations, it added.

Read more from Fleet News on how to make your salary sacrifice scheme a success.