A salary sacrifice car from Svensk Vagnparksfinans is a way for larger companies to offer a fringe benefit in return for salary sacrifice. For the employee, it is a safe, affordable alternative to owning their own car. A salary sacrifice car is a cost neutral version of an operating lease for businesses, involving outsourcing of ownership, financing, administration and management of the fleet.
All major car brands
Svensk Vagnparksfinans is a business area within Volvofinans Bank AB. We finance all brands of cars, which means that you can offer your staff the brands that suit both the company’s image and the employee’s wallet.
Positive impact on your image
You probably already have a car policy, with guidelines on traffic safety, fuel economy and a Code of Conduct when driving for work. A salary sacrifice car increases the proportion of employees who drive new, safe and fuel-efficient vehicles. This makes a positive impression on your customers, job applicants and other who have dealings with you.
Simple and convenient
A salary sacrifice car involves minimal administration on your part. Once a month, you will receive a single, clearly specified consolidated invoice for all vehicles. Driving for work is settled against a travel claim, in the same way as for employees driving their own car. Reconciliation of deductions from gross salary against mileage is done by us on a regular basis.
Salary sacrifice cars do not cost the company a penny
A salary sacrifice car is a cost neutral version of an operating lease, involving outsourcing of ownership, financing, administration and management of the fleet. We guarantee residual values, as well as servicing and repair costs. A further advantage is that you do not tie up capital. In addition, there is a positive VAT effect if your activities are liable for VAT. It is cheaper for the employee than owning the car themselves. For the employee, it is cheaper to choose a Salary Sacrifice Car than to buy and own the same car privately. The net cost to the employee is determined by the car that is selected and the annual mileage, both private and business mileage.
We handle all costs relating to the vehicle, such as:
- servicing and repairs
- courtesy car
- leasing fees
- vehicle tax
- parking ticket reminders
- car orders
- price checks against signed framework agreements
- salary sacrifice calculations
- preparing vehicle cost calculations
- reporting changes in the driver’s fringe benefit value on a monthly basis due to, for instance, the driver having fitted optional equipment to the car that affects the fringe benefit value, or changing or terminating the car
- we are the driver’s point of contact for all automotive issues