CLM AlphaDrive employee scheme offers new cars at competitive terms
The AlphaDrive scheme has been developed as an easy to administer, "plug-and-play" online solution to provide company employees with a choice of new vehicles, using CLM's bargaining power with vehicle manufacturers and service providers and offering all the benefits of a company car but without the BiK liability.
CLM AlphaDrive provides company employees with the choice of a car over two, three or four years with a variety of mileage parameters, and operates an arm's length credit sale agreement so that there is no BiK tax liability for employees or employer.
The AlphaDrive scheme has been established in conjunction with multi-marque leasing company, Alphabet, which provides vehicle funding and manages the maintenance of all cars under the scheme.
There is no requirement for any initial deposit and users have a totally free choice to decide how much salary they wish to spend on purchasing their new car, as well as having the option of selling it back for a pre-determined value at the end of the agreement, subject to the car meeting required return standards, or paying a final instalment and keeping the car.
CLM operations director John Kelly explained that the company had steered away from introducing another salary sacrifice car scheme in favour of an alternative solution.
'We have aimed CLM AlphaDrive at companies where a salary sacrifice product may not be appropriate or preferred. This is a very flexible, simple-to-operate online solution that provides company employees with the opportunity to own a new car at very competitive terms,' he said.
'The scheme also allows companies to tackle the duty of care issues they face where they have employees using their own vehicles of indeterminate quality and reliability, as it provides brand-new cars that must be serviced in accordance with manufacturer guidelines,' he added.
New vehicle quotations are made available for each employee through CLM AlphaDrive's online quoting and ordering system, which instantly allows users to create quotes, compare different vehicles and order their new car online.
Eligible employees can take a maximum of two CLM AlphaDrive cars for themselves or a family member, and the standard monthly agreement includes full maintenance, UK and European breakdown assistance and tyre replacement. In addition, road fund licence cost is included for the length of the agreement.
There is also the option to take out early settlement and gap insurance to cover any possible shortfall between the financial settlement costs and the vehicle value in the event of a change of circumstances such as redundancy. Employees must also take out fully comprehensive motor insurance and provide evidence so the road fund licence can be purchased on their behalf.
CLM has set up a dedicated team to administer CLM AlphaDrive with a driver helpline on 01908 219311 to provide high service levels and offer support and advice with vehicle ordering.
The first fleet to use the new scheme is a global intelligence provider, and an existing CLM customer, with a 500-strong company car fleet. Some 800 of its staff have already opened online accounts to be able to take a new car through the scheme.