Vehicle-Solutions ADF salary sacrifice is a form of car finance where you pay for the car’s financing during the lease term in exchange for receiving a residual payment at the end of the lease term. This type of car finance has many advantages over traditional car finance, including lower monthly repayments and the option to terminate your lease early and sell the car privately. In addition, if you end the lease early, your gain over the residual payment is tax-free.
Tusker’s Early Termination Protection scheme
Tusker’s Early Termination Protection (ETP) scheme covers an employee’s early termination charges for various reasons. It includes long-term sickness and disability, mental health problems, loss of sight or limb, and driving convictions. Early termination charges are also covered if the employee leaves the company mid-contract. Depending on the circumstances, a person can receive benefits for up to six months from the termination date.
The Early Termination Protection scheme allows employees and their immediate family members to participate, which can be particularly useful if the employee’s family lives in the same house. The scheme’s numerous benefits include income tax savings for both the employee and employer. It also offers reduced National Insurance and access to the latest vehicle technologies. The company has been operating salary sacrifice schemes for over ten years and has a dedicated in-house team knowledgeable about all aspects of the benefits. As a result, employers’ liability is minimised, and the company pays nothing out of pocket.
AX Beacon is a reliable partner for Tusker. With over five years of experience delivering class-leading services for companies such as Tusker, AX is the ideal partner for mobility services. AX’s flexible solution, robust process, and high conversion rate make it a natural choice for Tusker. If you are considering starting an EV or a hybrid vehicle service, get a quote for your policy today!
Tusker’s salary sacrifice
Tusker’s salary sacrifice car scheme is one of the UK’s most famous employee schemes, with the Nissan Juke topping the charts since 2013. It has been ahead of the Ford Fiesta since 2008, but its popularity has fallen since the financial crisis hit the UK. The new electric car is a far better option for a Vehicle-Solutions ADF salary sacrifice scheme than the Fiesta, but the car must be new and be available to use from the day it is bought.
The scheme is available to businesses of all sizes and benefits employees beyond the traditional company car. Employees can take advantage of reduced BIK rates for electric cars and get tax benefits. The scheme has also been highly successful, with Tusker’s electric car fleet now totalling more than 20,000 cars. As a result, the company has a growing customer base, including NHS trusts, councils, large companies, and more.
The scheme can be used for a brand new car and includes road tax, insurance, breakdown cover, tyres, servicing, and maintenance. The scheme was launched for employees in January 2021 and had more than 4,000 qualified staff. In addition, employees can buy a car from a private person instead of a company. Tusker’s salary sacrifice car scheme is one of the best ways to drive a car – employees can get a brand new, fully insured, and maintained car at a fixed monthly price.
Tusker’s car scheme
The Vehicle-Solutions ADF salary sacrifice car scheme from Tusker is an excellent way to provide your employees with a brand new car at no cost. This scheme allows you to offset part of your salary before tax to get a new car, which includes road tax, breakdown cover, car insurance, MOT, servicing and fuel. The car scheme was introduced by Tusker, which received funding from Barclays in 2012. The company has also developed links with charity groups such as the Teenage Cancer Trust, which supports the Tough Mudder.
The scheme provides a wide variety of cars with various features. For example, the Nissan LEAF is an electric car that accommodates a family of four. It also produces zero tailpipe emissions, making it the perfect car for families. In addition, Tusker’s scheme allows employees to own an electric car without paying the high cost of insurance and vehicle maintenance. This scheme has many other benefits and is designed to remove the hassles associated with owning a vehicle.
Several large companies have already signed up for the Tusker car scheme. Energy provider Engie and Britain’s biggest generator of zero-carbon electricity both have signed up. The scheme has allowed both companies to dramatically reduce the emissions output of their grey fleets while providing attractive employee benefits. The company has seen tremendous uptake of the scheme – over 50% of employees have registered to participate. And more than 700 employees have already ordered their cars through the Tusker scheme.
