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University car scheme
NEWS: We are pleased to confirm that the Car Scheme provided by ALD Automotive is now available.
The University’s car scheme offers eligible staff, who have been employed by the University for at least 12 months, the opportunity to acquire a new, energy-efficient ‘green’ vehicle at much lower rates than those generally available to members of the public through salary exchange. To support the University’s sustainability agenda, only vehicles with low CO2 emissions can be obtained through the scheme. You will be able to choose from a range of petrol vehicles up to 135 grams of CO2 per kilometre or diesel vehicles up to 120 grams of CO2 per kilometre. The leasing charge includes vehicle excise duty (road fund license) and all servicing and maintenance costs.
The Scheme has been introduced with two aims in mind. It provides a way for employees to drive a new car without having to fund the costs of a capital purchase; and, recognising that for many employees there is no practical alternative to commuting by car, it contributes to the University’s sustainable travel plan by encouraging staff to drive energy efficient vehicles. Drivers of energy efficient cars will also benefit from reduced parking charges on the Exeter Campuses.
Under the scheme, the University will lease the car chosen by you from ALD Automotive, a leading vehicle fleet management business. Leases can be for 24 months or for 36 months. You will commit to meet the University’s costs for the lease and insurance by agreeing to a ‘salary exchange’ reduction in your salary, so you will save income tax and national insurance contributions on the salary you have exchanged. The scheme adopts the same ‘salary exchange’ principles as salary exhange pensions, car parking, childcare vouchers and the cycle-to-work scheme. You will also need to pay the additional ‘benefit-in-kind’ tax charge for an employer-provided vehicle and the University will apply a small administrative charge to cover its administration of the scheme.
Anyone who received a car through the Univeristy Car Scheme prior to 20 July 2012 will continue to be supported by Lombard Vehicle Management until the end of their lease under the terms and conditions that applied when they signed up to the Scheme.
Further information
ALD website - use this website to view the vehicles on offer and also additional information. Under 'Order your car' you can obtain estimated costs of cars on particular mileage. To obtain a confirmed quote you need to call/email ALD Automotive and after discussing your exact mileage requirements, the make and model required, any additional options and estimated delivery times, they will be able to confirm the monthly rental amount there and then.
Salary Exchange Calculator (Excel) (This shows you the ‘salary exchange’ reduction in your salary for the car you have chosen, taking account of the lease charge, VAT and insurance paid by the University under the leasing arrangement with ALD Automotive, and an estimate of the net cost to you, taking account of the savings in income tax and national insurance contributions on the salary you have exchanged, the additional ‘benefit-in-kind’ tax charge and the small administration charge)
Salary Exchange Car Policy (the terms and conditions of the scheme)
