Drivers can save over £11,000 on popular electric cars (Tesla, Audi, etc.), Electric Vehicle News Bitesize
Drivers can save over £11,000 on popular electric cars (Tesla, Audi, etc.), Electric Vehicle News Bitesize

Drivers can save over £11,000 on popular electric cars (Tesla, Audi, etc.). Subscribe to Electric Vehicle News Bitesize Podcast for FREE!

Drivers can save more than £11,000 on a new electric car thanks to a new scheme designed to help motorists save money.

With the government banning the sale of new petrol and diesel vehicles from 2030, many are looking to invest in electric vehicles years ahead. A new company benefits scheme could save electric car drivers £11,000 over four years.

The Electric Car Scheme offers employees the opportunity to rent an electric vehicle at a much lower price, with less than 14-week wait times for all vehicles.

The Audi E-Tron SUV averages 5,000 miles over a 48-month contract, saving drivers £11,306.

The normal rental price for the vehicle is around £677 per month, but with the repayment scheme the driver will pay just £441.

Likewise, leasing a Tesla Model Y through the scheme offers significant savings, with drivers paying just £401 a month, resulting in significant savings of £10,345 over four years.

Employee benefits are a UK government tax incentive that works through a salary sacrifice system.

Finally, drivers can save 30% to 60% by choosing an electric vehicle.

Thom Groot, co-founder and CEO of The Electric Car Scheme, comments on the launch of the project and how it can benefit businesses and drivers.

He said: “In the UK, more than 80% of workers want their next car to be electric and The Electric Car Scheme is now making this affordable with Salary Sacrifice.

“We’ve designed this with both the employer and employee in mind, so staff can drive new, electric cars at a 30 to 60 percent discount without creating a net cost or risk for their company.

“I encourage all UK employees that are looking to switch to driving electric to approach their company leadership team – whether it be via HR or finance – and request they look into this, as it really does benefit everyone.

“At The Electric Car Scheme, we are dedicated to making it a ‘no brainer’ decision for everyone to switch to driving electric, at an affordable cost.”

Drivers can also save more than £4,500 on other Electric Vehicles, including the popular Vauxhall Mokka-e, which could save £5,557.

Other vehicles include the Fiat 500e with lead times of 10 to 14 weeks and the Nissan LEAF, which have cost savings of more than £4,580.

Employees pay Benefit in-kind tax on vehicles, but for electric vehicles, the rate is only 2%.

The level of car tax was raised in early April by 1% for most vehicles.

Those rates are expected to remain unchanged in 2024, with Electric Vehicle drivers benefiting the most.

The latest figures show that in March 2022, the market share of electric vehicles in monthly sales reached its highest level to date.

Registrations are approaching 40,000, an increase of more than 78% compared to the previous year.

Overall, electric vehicles accounted for more than a third of new passenger car registrations.

New car registrations in the UK fell by more than 14% last month.

The transport sector is the UK’s largest emitter of greenhouse gases, accounting for 27% of the UK’s total emissions in 2019.

Please give Electric Vehicle News Bitesize Podcast a 4 or 5 star review. It would be very much appreciated.

Subscribe to the Electric Vehicle News Bitesize Podcast for FREE on Apple PodcastsGoogle PodcastsOvercastDeezer, Breaker, CastboxPocket CastsRadioPublicStitcherAmazon Music, AudibleGaana, Samsung Podcasts, Google News and the Electric Vehicle News Bitesize Alexa Skill.

For more Articles and Episodes visit Global Electric Vehicle Battery Swapping and Recycling Market 2022-2027.

Drivers can save over £11,000 on popular electric cars (Tesla, Audi, etc.), Electric Vehicle News Bitesize
Subscribe to Electric Vehicle News Bitesize Podcast for FREE!