Scheme Policies
Key policies of the {{clientContact.clientName}}
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
Initial Deposit
The standard scheme proposition features no requirement for a deposit. There will also be no option to reduce monthly repayments through payment of an optional deposit.
Buyback calculations
The buyback values are calculated as follows:
MRRP (OTR) multiplied by buyback percentage.
If options are added:
MRRP of options multiplied by buyback percentage, less further 25%
Payment Collection
Participating employees will be asked to sign a Payroll Instruction Form (PIF) which enables vehicle-related costs to be collected direct from net pay.
Excess mileage
Vehicles that are returned having travelled more than the pro-rata contract mileage will incur an excess mileage charge. The excess mileage pence-per-mile rate will be clearly stipulated in your Credit Sale Agreement.
Should you decide to retain the vehicle, no excess mileage charge will apply.
If you over travel by under 500 miles we shall normally waive our right to charge excess mileage. If you over travel by over 500 miles we shall charge excess mileage for all miles over the contract mileage stipulated in your Credit Sale Agreement.
Early Termination
Participation in the {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} Staff Car Scheme is conditional on working at a {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} in the UK.
Employees who choose to terminate their employment during the contract period will have two options: either settle the outstanding finance and keep the car, or return the car to the {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} and pay an early termination settlement charge.
Although the calculation of the actual charge will be vehicle-specific it is not expected that this amount will exceed one monthly instalment at any time in the {{contractInformation}} contract.
This excludes costs relating to potential excess mileage and vehicle condition.
Fines Administration
All potential fines will be sent to your Employer, due to them being the registered keeper of the vehicle. Your Employer will inform you of the processes surrounding potential fines, payments and appeal. Please contact your Scheme Co-ordinator for more details in regards to fines.
{{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} ‘employee' definition
A {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} Employee is defined as anyone who is employed by a {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} and is on the payroll of that {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} for the purpose of their overall remuneration package.
The {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} Staff Car Scheme is exclusively for this group of employees and excludes all others (e.g. customers or suppliers).
For the avoidance of doubt, this scheme is not a retail offer available to the general public and strict eligibility checks will be conducted before orders are accepted.
New starters
Newly eligible employees will be required to successfully complete their statutory probationary period at their {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} before being invited to participate in the scheme.
Extended family
The scheme offer applies to spouses, partners and family members living together at the same postal address, but the scheme is limited to two vehicles per {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} Employee.
For the avoidance of doubt, all Credit Sale Agreements will be issued in the name of the {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} Employee and repayments deducted from their salary.
Driving licences
Participating employees must hold a valid current UK Driving Licence at the time of ordering and produce both parts (photographic card and paper element, photocopies are not acceptable), to their nominated Scheme Coordinator.
Please Note: The Paper element of a driving licence is not required for licences obtained after June 2015.
The address on the Driving Licence must match the {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} records for the eligible employee.
This process will be repeated with each subsequent order.
Mobile phones
{{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} UK expects participating drivers to comply with prevailing Road Traffic legislation (which is amended from time to time).
Under no circumstances should a hand-held mobile phone be used by the driver of a scheme vehicle whilst the engine is running.
Maternity and long term illness
Employees who leave their {{genericTags.primaryManufacturerName}} {{genericTags.secondaryManufacturerName}} {{genericTags.clientNetwork}} on maternity or long-term illness will be given the option to terminate their scheme vehicle by returning the car and paying one month's penalty interest. This is not expected to exceed the cost of the normal monthly repayment.
Alternatively, should the employee prefer to retain their vehicle and continue making repayments, alternative arrangements will be made for the collection of the balance of monthly installments.
Insurance Cover
In the unfortunate event that you have an accident, you need to be fully protected by your car insurance. It is important that the Registered Keeper of the vehicle is your Employer (please contact your Scheme Co-ordinator for more details) and that the Legal Owner of the vehicle is the employee (you).
For a fully comprehensive guide of what we require from your insurance company, please visit our Insurance Guide page.