Venson Automotive Solutions has added a new car salary sacrifice module to its customer portal, which it believes will help employers take control of grey fleet costs.
Its launch comes in the wake of a report produced by the Energy Saving Trust (EST) and commissioned by the British Vehicle Leasing and Rental Association (BVRLA), showing that employee-owned cars cost organisations more than £5.5 billion a year in mileage claims and car allowances.
Simon Staton of Venson Automotive Solutions said: “The EST research shows that the UK’s grey fleet comprises 14 million cars, which accounts for 40% of all vehicles on the road.
“With the average age of a grey fleet car being more than eight years old, these vehicles are likely to have higher environment harming emissions. We support the BVRLA’s call to tackle the issue of grey fleets, which wastes money and damages the environment.”
The new vehicle comparison and selection tool from Venson gives users a ‘My Quotes’ personal log-in, allowing them to compare up to 10 vehicles side-by-side.
The fleet of vehicles offered is predetermined by the employer and users can compare vehicles based on any one of a number of options including engine size, CO2 ratings, mpg, P11D value, wholelife cost and benefit-in-kind (BIK) cost.
Employees can also see information on the vehicle’s standard fit options as well as factory fitted optional extras.
Monthly costs can be adjusted as choices are made to help the employee remain within their predetermined allowance.
Additionally, to help the employee understand the impact of the salary sacrifice payment on their monthly salary, the tool shows the deductions based on their tax bracket and monthly allowance.
It also includes a ‘future view’ letting an employee know what the affects of any published changes in taxation (CO2 and BIK) for the next three years will have on their salary.
Staton added: “The addition of the Venson Car Salary Sacrifice module to our Interactive Portal puts fleet operators and their drivers in control, helping to eliminate the need for grey fleet vehicles and the associated costs. As the BVRLA urges the Government and firms to cut grey fleet mileage, Venson is giving employers more tools to help them make the change, fully customised to their individual business and fleet needs.”