Welcome to our exciting new Xcite Salary Sacrifice website, brought to you by the salary sacrifice arm of our personal leasing venture, Xcite Car Leasing.
Our company, Wessex Fleet, is currently celebrating its 20th year in fleet management, making it a fitting time to be setting up and launching this brand as its own entity.
We’ve been running a salary sacrifice scheme since 2022 but felt that it was its own unique proposition with its own market. To do this venture justice and serve customers effectively, we’ve launched this dedicated website to fulfil the needs of both employees and their employers.
Businesses can set up a scheme for their employees at no cost and having one in place can even save them money, since participating firms pay less in salary and employers’ National Insurance contributions and potentially reduce other associated fleet costs.
Our new website and accompanying portal allow drivers to do everything in one place: compare cars, select a quote, sign the relevant documents for it and track order progression. It also allows employers to manage the salary sacrifice process through the ready-made portal - with our team on hand to support them, whenever they need it.
Everyone, including us, needs to prepare for Net Zero, the international pledge to reduce greenhouse gas emissions to zero by 2050. One of the most impactful changes individuals and businesses can make to reduce their emissions is to change how they travel. Electric cars produce zero emissions at the point of use, and may even use renewable energy to power them, depending on supplier.
Driving Home the Benefits of Salary Sacrifice
Salary sacrifice schemes benefit employers and employees alike. Employees receive a brand new electric car to drive, and the latest models to choose from. Most salary sacrifice schemes will offer you fully electric or certain plug-in hybrid (PHEV) models as these offer the best savings for the company and its employees.
Every few years employees can update their vehicles, choosing another brand new model, enabling them to benefit from latest technology, safety features and design. This can provide a significant enhancement to a business’ employee benefits package.
At a time when electric cars are still at a higher price point than their petrol or diesel counterparts, a salary sacrifice scheme allows drivers to drive a brand new electric car at a lower price. Salary Sacrifice tends to be 30% to 60% cheaper than other methods of financing a car, depending on the model and deal.
Employees don’t pay Income Tax or National Insurance on the portion of their salary that is sacrificed to pay for the car. Employers pay less in salary and employers’ National Insurance (NI) contributions and could potentially reduce other associated fleet costs like insurance, maintenance and ownership.
Servicing, tyres, maintenance, breakdown and recovery, accident management and fully comprehensive insurance are all included. There are no credit checks or deposits required.
Director, Tim McNally, says;
“We’ve been offering Salary Sacrifice as one of our services since 2022 and are excited to be taking it to the next level with the relaunch. We’ll still offer the same great customer service but it will be under the new Xcite brand, with a dedicated website that covers everything businesses and their drivers may need.
“We’ve also partnered with HRUX to offer companies a sleeker process once they are part of the scheme, making it easier than ever for drivers to choose their new car, HR to approve it and all the documents to be processed.
“I’m very excited to see this element of our business grow and to be able to offer the scheme as a benefit to more businesses and their employees.”
Xcite Salary Sacrifice Consultant, Ralph Burbeck, says;
“Salary Sacrifice is something we’re seeing more companies express an interest in. It’s a great option for companies and their employees and our electric car scheme will help both save money, improve their carbon footprint and bring many more benefits for both.
“We’ve offered our tailored scheme to several of our existing clients for years and this has been growing steadily as more companies look to offer the benefit to their drivers. The new website and portal allows us to continue offering the same great service but with a fresh look and smoother process for everyone.”