Loveelectric introduces pre-owned Lex Autolease electric vehicles through sal-sac

Home > Industry Analysis > Content

【Summary】Loveelectric has partnered with Lex Autolease to offer used electric vehicles (EVs) through its salary sacrifice scheme called Re-Loveelectric. This partnership allows Loveelectric to access Lex Autolease's EV fleet before they hit the used car market, expanding the choice of used EVs available to drivers. The benefits of operating a used EV on salary sacrifice include cost savings, potentially cheaper charging costs, and avoiding emission zone charges.

FutureCar Staff Oct 03, 2023 4:22 PM PT

Loveelectric introduces pre-owned Lex Autolease electric vehicles through sal-sac

Loveelectric has expanded its electric vehicle salary sacrifice scheme by partnering with Lex Autolease to offer used EVs through its Re-Loveelectric program. This collaboration significantly increases the options available to drivers looking to participate in the scheme.

Lex Autolease manages one of the largest EV fleets in the UK and is responsible for financing a significant portion of the country's EVs. Through this exclusive partnership, Loveelectric gains access to Lex Autolease's vehicles before they enter the used car market.

There are numerous benefits to operating a used EV through the salary sacrifice scheme. Loveelectric states that rentals for used EVs can be up to 61% lower than for new vehicles due to the initial depreciation already being accounted for. Additionally, monthly payments include road tax, comprehensive insurance, servicing, breakdown cover, and maintenance, providing drivers with peace of mind.

Furthermore, EV drivers can enjoy additional savings, including potentially lower charging costs compared to petrol and diesel vehicles. They can also avoid charges associated with Ultra Low Emission Zones and Clean Air Zones.

An advantage of Loveelectric's used EVs is their immediate availability, eliminating long lead times often associated with purchasing new vehicles.

Steve Tigar, CEO and founder of Loveelectric, highlights that salary sacrifice is already the most cost-effective way to finance an electric car. By expanding the range of available vehicles to include cheaper, second-hand models, the savings for employees can increase significantly.

Leasing companies are increasingly entering the used vehicle leasing market to help mitigate fluctuating used values and make electric vehicle adoption more affordable for end-user fleets. This move benefits both companies and drivers alike.

Steve Tigar emphasizes that the mission of Re-Loveelectric is to make all-electric motoring accessible to as many people as possible by taking advantage of the cost advantages offered by used models. This aligns with Chris Stark's call for greater consumer access to used EVs, as the CEO of the Climate Change Committee.

For more industry news, click here.