Fleet News

Car scheme for RMI

THE Retail Motor Industry Federation (RMI) is offering its employees a new car ownership scheme in a bid to slash taxes and costs for staff.

The motoring body has awarded a deal worth £3 million to Whitechapel, part of Lloyds TSB autolease, which will provide the scheme to RMI's UK fleet.

Whitechapel will supply 190 vehicles under a three-year contract and RMI employees currently running a company car will be able to downgrade vehicles and benefit from the cash difference.

Kevin Waterman, finance director at the RMI, said: 'Our drivers were heavily penalised under the 2002 changes to benefit in kind and CO2 emissions taxes.

'Whitechapel's car ownership scheme offers our drivers increased vehicle budget flexibility while protecting their net pay against escalating taxes. Whitechapel was able to refinance the vehicles supplied through our previous leasing arrangement.

'This enabled us to reset maintenance budgets and residual values on used cars which provided us with significant financial savings.'

  • Subscribe to Fleet News.
  • Get the news delivered to your desktop
  • Leave a comment for your chance to win £20 of John Lewis vouchers.

    Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

    Login to comment


    No comments have been made yet.

    Compare costs of your company cars

    Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

    What is your BIK car tax liability?

    The Fleet News car tax calculator lets you work out tax costs for both employer and employee