Leasedrive has won a four-year contract to supply its Mycar salary sacrifice scheme to Coventry City Council.
Under the Mycar initiative, employees sacrifice some of their salary in exchange for a brand new vehicle which is fully serviced and maintained.
The employee saves tax and National Insurance on the money sacrificed and the employer saves National Insurance, making it a very cost effective way of leasing a car for both.
Coventry City Council employees also benefit from the government’s negotiated manufacturer discounts.
The Council has over 7,700 eligible employees.
Shokat Lal, assistant director at Coventry City Council, said: “Like all councils, keeping and motivating good staff while reducing the cost of delivering services is a fine balancing act. We are constantly looking for innovative ways to achieve this while continuing to provide a first class service to the public.
“The launch of a salary sacrifice scheme for cars helps us to become an employer of choice and deliver significant savings to the Council by way of reduced National Insurance and pension contributions. We can even help the environment by choosing the best cars for reducing CO2 emissions.
“After a long consultation period and exhaustive tendering process, we appointed Leasedrive due to its long history of successfully delivering salary sacrifice car schemes and its reputation for customer service.”
David Brown, business development manager at Leasedrive, said: “Once appointed, we rapidly produced a Coventry City Council mycar website and roadshows at Council locations, which were attended by hundreds of employees.
“Many of the employees were attracted by the concept of fixed motoring costs for the next three years. Within the first ten days we had taken over 30 orders.”