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Personnel 'choose company car to save money'

28 February 2012

Personnel "choose company car to save money" Posted by Editorial team

Salary sacrifice schemes that allow personnel to swap part of their wage for a company car are attractive because they help them to save money.

This is the finding of a recent survey by fleet management business Zenith, which explained such a perk can cut costs for employees by lowering tax, while an all-inclusive package on a vehicle can come with a fixed price.

As many as 41 per cent of respondents to the poll said the factor that would most encourage them to choose a company car over other salary sacrifice schemes is the potential savings they could make.

Cost was also the top priority when it comes to choosing which vehicle to get, with 33 per cent claiming this was the most important factor.

The other main reasons for taking on a motor through their firm were lowering workers' impact on the environment, increased accessibility and better choice and flexibility.

Employees can manage their benefits through self-service software and this may need to be something companies roll-out to all staff, as one expert recently said only offering perks to senior workers could cause problems.

Mike Ogilvie, managing director at OBC the accountants, explained personnel expect their managers to earn more than them but may object to not being given the chance to take home added extras like a bonus.

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