How Salary Sacrifice Helps Ease the Cost of Living Crisis
The cost of fuel is finally falling after costing nearly £2/litre for most of the year. There have been many factors contributing to the rising costs across the board, from the Russia conflict to fleeting supply to inflation. But after the extra spend, do you want to go back to paying even “normal” petrol prices? Imagine spending less than £30 a month on your fuel, on top of making savings with tax, NI, depreciation, insurance, and much more! That would definitely make your life easier through the cost of living crisis! Let’s take a closer look at how salary sacrifice eases the cost of living crisis with a few reports from the team who have switched to electric motoring over the last year!
Emily’s Thoughts
“Having an electric car on salary sacrifice has helped me in the cost of living crisis as I now have fewer monthly outgoings, such as insurance. I also don’t have to worry about servicing or maintaining the car as that’s included in the salary sacrifice! Before I moved to electric, my Mercedes was due for a service that would have cost around £170. However, I took my Corsa to Vauxhall and I didn’t have to pay anything extra!
As I’m a short drive from work, and with public charge points becoming increasingly available, I don’t have any need for a home charge point, saving me on my electric bills as well as my fuel spend. I’ll be moving into a VW ID.3 soon, which has 215 miles range compared to my current 175 miles range with the Corsa; I’ll never be mad over extra range!”
Amy’s Thoughts
“Since switching to an electric car, the savings I’ve seen have been crazy! I used to spend around £200 a month on fuel and with an EV it’s closer to nothing! I usually charge at the office for free, but it only costs a small amount to charge publicly! Although I do pay monthly for it, the monthly payments are less than the running costs for my old petrol car, that’s with the charge included too! Electric cars are the way to go if you’re looking to save money on your motoring.”
The Other Savings
With electric cars on salary sacrifice, as well as the huge decrease in your monthly fuel spend, you also benefit from prices up to 40% cheaper than retail, as well as savings on your tax and National Insurance contributions! How does that work, you ask? Simply put, you’ll pay for the car from your pre-tax salary. This means that your gross pay is reduced, so you pay less in contributions. The scheme is free to put in place too and we handle all the admin, so get your employer on board and they can be spoiling their employees with cheaper, cleaner motoring!
Charlotte’s Thoughts
“I usually charge my car either at home or at the office, sometimes you have to recharge in public though. Over the last 11 months, my Pod Point app reports that I have only spent £313 on home & public Pod Point charging. This doesn’t include charges from other charge point providers, but I try to stick with Pod Point so I can track my spending. As I can also charge at the office, it makes it even easier on the wallet with the cost of living still sky high.”
Charging Your EV
You can charge at the office too with our plug-in promise! If your company implements our salary sacrifice scheme and 5 employees take on a car, we can give you a 2-port charge point for employees to use at the office! Just 3 hours on charge and your car will be good to go for another week, maybe even 2 in Charlotte’s case!
Gone are the days of spending £60 a week to refuel your car, it’s time to go electric and save hundreds on your fuel spend each month! Get in touch here or download the Electric Revolution guide below!