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Learn more about driving electric cars with salary sacrifice

Driving electric comes with a tonne of benefits. Electric vehicles (EVs) are faster, greener and cheaper to run than their internal combustion engine (ICE) counterparts – and through salary sacrifice, they’re more affordable than ever. Below, you’ll find everything you need to know about hybrid and electric cars and how salary sacrifice can benefit your business.

If you’re interested in an EV salary sacrifice scheme, get started by booking a call with us today.

What are the benefits of electric cars?

  • Cheaper fuel costs
    Costing an average of 9p per mile, driving electric works out about 50% cheaper than petrol – and you can fuel up at home.
  • Easier to maintain
    EVs have fewer moving parts which means less maintenance, and therefore lower running costs. Maintenance is also included as part of every Hippo Salary Sacrifice lease.
  • Better driving experience
    Faster, quieter and packed with the latest tech, EVs offer the ultimate driving experience, often with supercar-worthy performance thrown in.
  • Greener footprint
    EVs produce zero tailpipe emissions and carry a substantially lower carbon footprint than ICE vehicles. More efficient and eco-friendly, they’re perfect for green-conscious businesses and employees.
  • Future-ready
    A key part of the UK’s journey towards Net Zero by 2050, electric driving is the future, right now.

Ready to start driving electric through salary sacrifice?

  • Fill in the form below to get a call booked in with our salary sacrifice team.
  • We’ll reach out to you to set up a virtual meeting to discuss our tailored solutions.
  • Build a bespoke package that best fits your business.
  • Get access to your personalised salary sacrifice e-hub to manage your scheme with all bases covered, from ordering to payroll.
  • Benefit from round-the-clock account support that expertly manages every element of your salary sacrifice scheme.

What is salary sacrifice electric car leasing?

Electric car leasing is a cost-effective way to drive an electric or hybrid car. Because EVs are often more expensive to buy than their ICE (diesel or petrol) counterparts, leasing allows you to drive an electric car that might otherwise be out of reach financially. If you lease through salary sacrifice, things get even cheaper – you can save as much as 60% versus the cost of a standard personal or business electric lease.

EV leasing is appealing because of its simplicity. You arrange your lease and then hand the vehicle back when your contract ends, freeing you from the responsibility of ownership and giving you the flexibility to switch cars every few years.

Salary sacrifice takes EV leasing to the next level, offering discounted rates and a whole host of benefits including insurance, maintenance and breakdown cover all included as part of your deal.

Electric and hybrid car types

  • HEV
    Hybrid electric vehicle

     

    Traditional hybrids have a battery and combustion engine, but the battery is too small to be externally charged. You’ll get some power support from the battery, but you’ll run on traditional fuel most of the time.

  • PHEV
    Plug-in hybrid electric vehicle

    Plug-in hybrid vehicles combine an electric plug-in (chargeable) battery and a traditional combustion engine. The car uses its electric supply first before switching to fuel, which boosts economy substantially.

  • BEV
    Battery electric vehicle

     

    Battery electric vehicles are powered by a large battery and an electric motor; meaning they’re 100% electric. They’re the cheapest to run and don’t emit any emissions.

Electrify your benefits package with salary sacrifice

Interested in business electric car leasing? A Hippo salary sacrifice scheme offers you the ultimate
employee benefit for you and your staff to take advantage of.

  • Up to 60% off a brand-new EV lease
  • Huge cost savings and all-inclusive package for employees
  • Cost neutral/profitable key benefit for employers
  • Minimal risk for both sides
  • No upfront fees or credit checks required
  • We take care of everything

Ready to get started? Book a call with us today.

Best Salary Sacrifice Deals

FAQs

That depends on various factors, most of all the model you’re leasing. Typically, electric and hybrid leases cost more than ICE equivalents. This is why salary sacrifice is so great – paying for your lease with your pre-tax salary means you’ll pay less tax overall, and in some circumstances you can save as much as 60% off an electric lease versus a standard personal or business lease.

Your business needs to have a salary sacrifice scheme for you to be able to get a salary sacrifice lease deal. If you’re reading this as an employee, you’ll need to ask your employer about setting one up (we’ll need their details so we can give them a call). If you’re a business owner looking to set up salary sacrifice for your team or even for yourself, book in a call and we’ll walk you through next steps.

Salary sacrifice is the ultimate employee benefit because of the generous package that comes with it. Beyond the initial saving on the lease itself, each employee also gets fully comprehensive insurance, maintenance, breakdown and roadside assistance cover included in their monthly rate. There’s also the option to add a home charging point as part of the lease, which we’ll come and install for you.

One of the biggest benefits of driving electric is the lower running costs, particularly when it comes to fuel. According to research from NimbleFins, the average driver can save 9p a mile driving an EV compared to an ICE car. That’s a 50% reduction against the average cost of petrol per mile at 18p.

100% electric cars produce no tailpipe emissions, meaning no greenhouse gases being pumped into the atmosphere like with ICE or even hybrid cars. EVs do still have a carbon footprint through their production and use of electricity as fuel, but this is still smaller than that of an ICE vehicle.

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