Scheme Policies
This section outlines some of the key policies of your scheme. Your employer may have their own policy in addition to this and you should contact your Scheme Co-ordinator if you have any queries.
Eligible Employees
Eligible employees are defined as those who are employed by a dealership or a company approved by the manufacturer and are on the payroll for the purpose of their overall remuneration package.
Newly eligible employees will ordinarily be required to successfully complete their statutory probation period before being invited to participate in the scheme. Participation is at the discretion of your employer.
You must hold a valid current UK driving licence at the time of ordering and provide a copy to your Scheme Co-ordinator. The address on your licence must match the records held by your employer.
Maternity and Long-Term Illness
If on maternity leave or out of work due to a long-term illness, you will be given the option to terminate your agreement by exercising your Buyback Option and returning the vehicle to your employer.
If you wish to retain your vehicle and can afford to continue to make your monthly repayments, your employer may make alternative arrangements in order to collect them. This is at their sole discretion.
Business Mileage Recording
Your ECOS car is a private car therefore any business mileage in this vehicle must be recorded in line with the company mileage recording policy. Your employer may also ask you to record private mileage. It is your responsibility to ensure accurate and auditable records of any business mileage are captured and retained for future reference.
Optional Extras
Scheme cars may be required to have a minimum specification. In some cases, with prior authorisation from your employer, you may be able to add optional equipment of your choice. This will be at a cost of approximately £3 per month per £1,000 of optional extras.
Fitting of accessories
Dealer fitted or after-market accessories (e.g. tow bars) may be fitted to your scheme vehicle at your expense, but these must be removed prior to return. Any resultant rectification work should be completed so that the vehicle's appearance is not affected.
Return vehicle condition
At the time of order, you will be supplied with a copy of the Acceptable Condition Guidelines. It is imperative that all vehicles are returned to the necessary site in a condition commensurate with this document in order to avoid end-of-contract charges.
A Fair Wear & Tear Guide can be found under the ‘Your Vehicle’ heading and some of the most commonly asked questions have been answered in the FAQs in the Help Centre.
Initial Deposit
The standard scheme proposition features no requirement for a deposit.
Maximum Repayments
The selected vehicle should normally have a repayment of less than 25% of gross (i.e. before tax) monthly salary. In the case of personnel who earn commission, earnings will be taken as inclusive of these amounts if supported by the previous year's P60 (Statement of Earnings).
This is a guideline and your employer may exercise judgement.
Worked example:
- Annual Salary = £18,000
- Monthly Salary = £1,500
- Maximum Repayment (25%) = £375
Payment Collection
You will be asked to sign a Payroll Instruction Form (PIF), which enables vehicle-related costs to be collected directly from your net pay.
Early Termination
Participation in this scheme is conditional on your employment at a dealership or company approved by the manufacturer and the agreement will be terminated should you cease to be employed by them.
You have two options:
- Exercise your Buyback Option and ask CBCS to buy the vehicle back from you, the car will be returned to your employer/the supplying dealership.
- Settle your loan agreement in full and retain your car.
Other charges relating to mileage and/or vehicle condition may be charged to you prior to leaving your employment.
Fine Administration
Where Car Benefit Car Schemes (CBCS) Limited are the registered keeper of the vehicle, all potential fines and Fixed Penalty Notices will be sent to CBCS. Details of the person named on the Credit Sale Agreement are then passed onto the relevant authorities and it is your responsibility to resolve the issue and/or pay the fine within the stated time period.
In the event that the relevant authorities require Car Benefit Car Schemes Limited to pay the fine or charge, we will do so. In other cases, where the issue is not resolved, or the fine is time sensitive (e.g. London Congestion Charge or Parking Fines), CBCS may also make payment. Where CBCS pays for a fine or charge the cost will be recovered via your employer and will be deducted from your net pay in accordance with the Payroll Instruction Form.
Where your employer is the registered keeper, fines will be issued to them and they will either pay them on your behalf and proceed to deduct payments made on your behalf from net pay, or will provide your details to the relevant authorities for you to make payment.
Should you wish to exercise your right to appeal the fine, this can be taken up with the relevant authorities. In some cases, this can be actioned after the payment has been issued.
Insurance Cover
Your ECOS car must be fully comprehensively insured and will ordinarily be covered under your employer’s existing fleet policy and you may be required to make a payment for this. In the unfortunate event that you have an accident, you will need to contact your Scheme Co-ordinator for advice.