Many employers have scrapped their company car schemes and have opted to pay their employees a Car Allowance. This benefits the company by removing the “Whole Life Costs” of operating and administrating a company car. For the employee it removes any tax liabilities.
Employees have a number of ways of getting a car, using this cash alternative. Many opt to take the vehicle on a PCP (Personal Contract Purchase) but many over look the benefits of running a Short Term Leasing vehicle.
Of course employees can use their salary to buy a car or take out a more traditional 2 or 3 year lease. But what if its a new role and they are not sure whether the job is for them?
Short Term Leasing can offer the employee a car to take on a 3 x 28 day contract, which rolls on 28 days thereafter until the required notice is given. Even better, is that Short Term Leasing Ltd can switch them into a purchased or a traditional lease though its sister company Cocoon Vehicles and keep them in the Short Term Leased car until the vehicle is delivered.
Their are many benefits to the Short Term Leasing product for the Company Car Opt Outs, as explained in the highlighted link.
If you would like to discuss this further, please call the team on 01332 290173.