The scheme, product name Novalease, will be provided by sgfleet and the contract was awarded under a public sector framework agreement.

A key reason in choosing Novalease is that sgfleet says it is the only solution in the market where the contract for the car will be with the employee. The structure is based on novated leasing, which will not create any risk or liability for the university and means the employee will take the car with them if they were to leave. 

As a result, unlike other market schemes, there is no need to load the monthly payments to cover the university for potential early terminations costs, resulting in a more cost effective solution for employees.

In addition, CO2 emissions have been capped at 120g/km as part of the University’s carbon reduction strategy. In the future, sgfleet will provide full management information to allow the university to compare the CO2 emissions of employees’ new cars to the cars they are replacing.

The scheme has been communicated to staff through email announcements,  posters and TV displays around campus and on the university’s intranet combined with a series of presentations. The coming months will also see a series of road shows at the different colleges and buildings around the campus.

Guy Roberts, director Novalease at sgfleet, said: ‘We are very pleased to be working with the University of the Year and I am very confident the scheme will prove to be very attractive to its employees. The initial level of interest, the number of enquiries to our dedicated employee helpline, and subsequent orders have been very high.’