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Company cars 'a popular perk'

14 March 2012

Company cars "a popular perk" Posted by Editorial team

Company cars are a popular perk among both personnel and employers, an expert has said.

Toby Poston, head of communications at trade body the British Vehicle Rental and Leasing Association, said the fleet market was the only sector of the industry that grew last year.

"Salary sacrifice car schemes have proved very popular with a number of employers because they enable them to offer a very attractive perk to their staff," he explained.

Leasing a fleet could provide even more benefits for firms, because this means they don't have to worry about the loss of residual value and maintenance costs they would be lumped with as an owner, the expert added.

But it is not only renting vehicles that is popular, with fleet purchases accounting for more than 50 per cent of all new cars sold each year, Mr Poston stated.

Another reason a company car may be among the benefits personnel would like to see become available on their employee self-service systems is that being provided with a vehicle could save them money.

Fleet management business Zenith recently released the results of a survey showing reduced expenditure was the main reason workers prefer company cars over other salary sacrifice schemes.

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