Pendragon Vehicle Management (PVM) has launched a personal contract hire scheme aimed at employees who receive a cash allowance or use a salary sacrifice scheme.
The company says the scheme allows employees of businesses the provision of a new car with no financial risk to the employer and no BIK liability to the employee.
Using an online portal, employees can look at a range of vehicles, build and customise their vehicle specification and can receive a personalised quotation.
Once the driver is satisfied with their choice, PVM will then order the car (subject to credit) and it will be supplied to the employee on a personal contract hire agreement.
Neal Francis, divisional managing director of Pendragon Vehicle Management, said: “Employee car schemes increase employee motivation and retention, offering genuine cost-savings.
“As part of the UK’s leading online motor group, PVM already has more than 600 vehicles across 24 manufacturer brands on offer, with immediate access to 21,000 stock vehicles.”
Pendragon said the scheme is ideal for either cash allowance employees or other employees who are no longer enjoying the initial generous benefits derived from a car salary sacrifice scheme.