New Fleet Logistics salary sacrifice car scheme said to be 10% cheaper
Called FleetBENEFIT, the scheme applies multi-bidding to every new car via a panel of funders to find the most attractive rate for the driver. The firm adds that the scheme is thought to be the first of its kind to be structured this way and to be introduced by a fleet management provider rather than a leasing company.
The FleetBENEFIT scheme makes brand-new, low-emission cars available to all designated staff members, and provides fully comprehensive business insurance, road fund licence, breakdown cover and full servicing and maintenance provision as part of the standard package.
Employees can research, identify, source and order their new vehicle online through Fleet Logistics’ Fleet.Wizard car configurator, and benefit from highly attractive rates supplied by a panel of funders.
Using Fleet Logistics’ multi-bidding solution, which has been shown to reduce acquisition costs by 8-10%, the most attractive price is selected for the employee from the prices supplied by the panel. Any savings generated in this way, can then be allocated to a fund to cover any future contingencies, such as resignation, redundancy or maternity leave.
Stuart Donnelly, chief regional officer for Europe North, said: ‘With our FleetBENEFIT salary sacrifice scheme, employers can rest assured that their employees are behind the wheel of a new, low-emission, well-maintained and comprehensively-insured vehicle. This not only reduces the risk to the driver and meets business’s duty of care obligations, but it also sends out a strong signal with regard to your overall corporate responsibility.
‘Our new scheme is an extremely attractive proposition for employees as we are using multi-bidding to select the most competitive rates from our panel of funders. As a result, it can form a key part of a company’s benefits package in order to attract new employees, while also motivating and retaining existing staff.
‘When it comes to servicing the vehicles, all employees have access to the Fleet Logistics service network with one point of contact, and there is European coverage of the scheme with full European reporting,’ he added.