Managed by NHS Fleet Solutions and proudly overseen by Northumbria Healthcare NHS Foundation Trust, the scheme is designed with public sector employees in mind. Let’s explore the numerous advantages that await you.
1. Cost-effective leasing
One of the standout features of the NHS car leasing scheme is its remarkable cost-effectiveness.
By opting for a salary sacrifice arrangement, you can lease a brand-new car without breaking the bank, as this innovative scheme allows you to give up a portion of your salary in exchange for a non-cash benefit—in this case, a car.
The result is a lower overall pay, which means you pay less income tax and National Insurance, and if you’re part of your employer’s pension scheme, your contributions may also decrease.
This efficient method not only makes the process of acquiring a new vehicle financially viable but also ensures that you reap substantial tax benefits, making the entire arrangement both economical and advantageous.
2. No initial costs
When you join the NHS car leasing scheme, one of the most appealing benefits is the elimination of any initial costs, making it incredibly accessible and stress-free.
Unlike traditional car leasing or financing options that often require a hefty upfront deposit or undergo a rigorous credit check, this scheme is designed to be as inclusive and straightforward as possible.
You can start leasing without the burden of an initial payment, which means you can immediately begin enjoying the advantages of driving a new car without financial strain.
Additionally, there are no credit checks involved, which opens up the opportunity for a broader range of employees, regardless of their credit history, to take part in the scheme.
This hassle-free entry point is particularly beneficial for those who might otherwise face barriers in securing a car lease, ensuring that more public sector employees can take advantage of this fantastic benefit with ease and peace of mind.
3. All-inclusive monthly payments
The NHS car leasing scheme simplifies your financial planning by offering all-inclusive monthly payments, which cover a comprehensive suite of essential car-related services, thereby eliminating the unpredictability of additional costs.
These payments, which are conveniently deducted directly from your salary through the salary sacrifice arrangement, encompass a range of vital services such as fully comprehensive insurance that extends to you and up to four additional drivers, ensuring that everyone covered is well-protected.
Additionally, the monthly fee includes road tax, so you won’t have to worry about annual renewals, as well as routine servicing, which keeps your car in optimal condition without the need for out-of-pocket expenses.
Breakdown cover is also part of the package, offering peace of mind on the road, along with windscreen and tyre cover, which means that even minor damages and wear and tear are taken care of.
This all-inclusive approach not only makes managing your finances easier but also ensures that you can enjoy your new car without the stress of unforeseen expenses, making the entire leasing experience smooth and worry-free.
4. Tax savings
The NHS car leasing scheme offers significant tax savings, making it an even more attractive option for public sector employees.
By participating in the salary sacrifice arrangement, your gross salary is reduced by the cost of the car lease, which in turn lowers your taxable income.
This reduction means you pay less in both income tax and National Insurance contributions, allowing you to keep more of your hard-earned money.
Additionally, the scheme provides Benefit in Kind (BiK) savings, as the tax you pay on the company car is also reduced.
These combined tax benefits significantly lower the overall cost of leasing a car, making it an economical choice that not only provides a new vehicle but also optimises your financial health.
This means you can enjoy the luxury and convenience of a new car while benefiting from the substantial tax efficiencies inherent in the scheme, ultimately making your money go further.
5. Convenient leasing periods
The NHS car leasing scheme offers flexible and convenient leasing periods that cater to your personal and professional needs, providing you with the choice of either a 24-month or a 36-month lease term.
This flexibility allows you to select the lease duration that best aligns with your lifestyle, financial plans, and long-term goals.
Whether you prefer the short-term commitment of a two-year lease or the stability and predictability of a three-year lease, the scheme accommodates your preferences, making it easier to plan your finances and vehicle usage.
Additionally, the structured lease periods mean that you can enjoy the benefits of driving a new car with the option to upgrade to the latest models more frequently, ensuring you always have access to the most up-to-date features and technologies.
This adaptability not only enhances your driving experience but also provides peace of mind, knowing that you have the freedom to choose a lease term that works best for you, without being locked into a long-term contract that might not suit your future needs.
Reap the rewards!
In summary, the NHS car leasing scheme offers an impressive array of benefits that make leasing a brand-new car affordable, convenient, and environmentally friendly.
With comprehensive coverage, exclusive offers, and significant tax savings, it’s an excellent option for public sector employees.
Whether you’re looking for a traditional petrol car or considering the switch to electric, the scheme provides the flexibility and support you need.
🚗 You can learn more about the NHS car leasing scheme here.
