DF Capital introduces electric car salary sacrifice scheme

DF CapitalDF Capital has launched an electric vehicle salary sacrifice scheme for its 95 employees.

The lending and personal savings bank said the initiative, run in partnership with Octopus Electric Vehicles, will make driving a new electric car more affordable for employees. Payments are made directly from gross salaries, creating savings on income tax and national insurance.

More than 30 cars are available to staff through the scheme, including the Tesla Model 3, Nissan Leaf, BMW i3 and Hyundai Kona. Employees give the cars back after leases of two to four years and can select a mileage allowance of up to 30,000 miles.

According to the bank, the initiative ensures the switch to electric transport is accessible to a wider audience as well as being cost effective.

Employees do not need to make an initial payment and there are no individual credit checks to go through. Maintenance, servicing, insurance and breakdown cover are covered by payments to the scheme.

Charlie Michael, chief sustainability and people officer at DF Capital, said that while the business already offers rewards to all members of staff, this latest perk allows it to unlock affordable, clean and green driving for all employees.

“We are very excited about being able to help make electric dreams come true for our colleagues at DF Capital,” he said.

“It was a natural extension to our benefits package as it aligns to our social conscience and sustainability ethos. We look forward to contributing towards a more climate-friendly environment as a business moving forward.”

Natalia Peralta Silverstone, head of propositions at Octopus Electric Vehicles, said data showed that electric vehicles were “what customers want now”.

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“We will see hundreds of thousands more UK drivers sitting behind the wheel of an electric-powered car in 2022 and beyond,” she said.

DF Capital offers a range of employee benefits such as access to a group pension plan that provides a 10% employer contribution with no mandatory employee contribution; private medical care for everyone; gym membership; and 30 days of annual leave as standard.