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Car benefit scheme

Offering a salary sacrifice scheme for electric vehicles which businesses can package as an employee benefit.

MAF Finance Group is introducing its new Car Benefit Scheme – a fully inclusive motoring package that can form part of your employee benefits. The scheme allows you and your staff to drive away in a brand new, fully maintained and insured electric or plug-in hybrid car for up to four years.

The scheme is a cost-efficient way for you and your employees to run a car, with a fixed monthly amount taken directly from the gross salary and in return employees get the use of a brand-new electric or plug-in hybrid car.

The reduction to gross salary is made before income tax and National Insurance, although under the scheme the employee will need to pay Benefit in Kind as the car is being provided as a benefit by the employer.

Employees can make significant tax and National Insurance savings if choosing a pure electric vehicle as Benefit in Kind is just 2% between April 2022 and April 2025.

In addition to a brand-new electric or plug-in hybrid car, the scheme also includes:

  • No deposit
  • Maintenance of the vehicle, including all servicing, batteries, exhausts and tyres
  • Fully comprehensive motor insurance, including all business travel
  • Annual road tax
  • Roadside assistance (homestart and recovery, UK and Europe)
  • Contactless home delivery
  • Relief car for when the car is off the road (if selected)
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Lifestyle Protection

The Car Benefit Scheme can provide protection for both employee and employer, which mitigates early termination, and also includes Lifestyle Protection should the employee need to hand their car back early due to:

  • Resignation
  • Redundancy
  • Retirement
  • TUPE
  • Maternity/paternity/parental leave
  • Long-term sickness
  • Loss of licence

Carbon Offsetting Initiative

Carbon offsetting is used to compensate for emissions by funding an equivalent carbon dioxide saving elsewhere.

This initiative allows drivers to offset the carbon emissions of their chosen car, free of charge, against an accredited offsetting initiative, allowing your employees to have a carbon-neutral car for the length of their agreement.

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Employer benefits

Some benefits for your client are:

  • orange tick Claim the carbon offset as part of your carbon management plan under business travel (if applicable)
  • orange tick Demonstrate your commitment to the green agenda
  • orange tick Carbon-neutral salary sacrifice fleet
  • orange tick Feel-good factor for employees choosing their car
  • orange tick Attract, retain and reward existing employees
  • orange tick Employer National Insurance savings (Class1a)
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