Automotive leasing agency Octopus Electrical Automobiles has launched a wage sacrifice program targeted on pre-owned electrical autos (EVs), extending accessibility to a broader viewers.

Its ‘Practically New’ wage sacrifice initiative goals to assist EVs change into extra quickly viable for mass market possession, by means of providing tax-efficient leasing to staff of companies which it companions with.

Whereas wage sacrifice schemes might tempt away some conventional new automotive clients who purchase from franchised dealerships, main AM100 teams corresponding to Pendragon, Sytner and JCT600 provide their very own wage sacrifice schemes by means of their company leasing divisions.

With provide of second-hand EVs exceeding UK demand at present, their values have dropped to make them extra reasonably priced and now, below this scheme, Octagon says clients may pay round £300 per 30 days from their pre-tax gross wage to drive a pre-owned electrical Renault Zoe, Peugeot e-208, or Vauxhall Mokka-e, together with gasoline, insurance coverage, and upkeep bills.

This growth builds upon Octopus’ wage sacrifice scheme for brand new EVs initiated in 2021, a program at present utilized by over 3,500 corporations.

Fiona Howarth, chief govt of Octopus Electrical Automobiles, mentioned customers can now “run one in all these excessive tech, inexperienced, enjoyable vehicles for half the value of an old-fashioned fuel guzzler.”

She added: “Leasing for EVs is a beautiful choice for individuals seeking to go electrical, permitting drivers to change to the newest tech each few years and make the most of low gasoline prices.

“Only a few of our drivers ever look again, and now going electrical is much more reasonably priced, opening it as much as extra drivers that will not have beforehand thought-about it.”

Octopus Electrical Automobiles, owned by Octopus Vitality Group, not too long ago introduced it had reached £650 million in electrical automotive funding to additional improve its wage sacrifice proposition.

Its rival Loveelectric.vehicles launched its personal used EV wage sacrifice choice in April, branded Re-loveelectric.