Motor Source Group EV Salary Sacrifice Scheme Summary

By John Ellmore

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Here’s a summary of the Motor Source Group’s key features, benefits and drawbacks of their EV salary sacrifice scheme:

Company BackgroundFounded in 2001 by UK Army veterans, originally serving armed forces veterans; now open to all businesses and individuals.
LocationBased in Lincoln at Building 2, Alumina Court, Tritton Road.
Services Offered
New Car PurchasesFacilitates new car purchases.
Leasing OptionsOffers flexible leasing options.
Used Vehicle ProcurementHelps in sourcing quality used vehicles to your requirement.
Included Benefits
Comprehensive Car InsuranceInsurance can be covered in the monthly payment.
Breakdown CoverBreakdown assistance included.
MOTMOT is included
MaintenanceRegular maintenance included to keep the vehicle in optimal condition.
Replacement TyresCost of tyre replacement covered.
Accident AssistanceAssistance is provided in case of an accident.
Application Process
Step 1: Register Your DetailsFill out a registration form with your details.
Step 2: Arrange a DemoArrange a demonstration to understand the platform.
Step 3: Platform SetupMotor Source Group sets up your platform access.
Step 4: Team AccessTeam receives access to explore car options on the platform.
Unique Features
No Early Termination PenaltiesNo penalties for early vehicle returns.
Vehicle Options
Hybrid VehiclesOffers self-charging and plug-in hybrids.
Electric VehiclesFull range of electric vehicles available.
Eligibility
Business Age Requirement
Business must have been operational for 2+ years.
Contract Length
Flexible ContractsContracts range from 12 to 48 months.
End-of-Agreement Options
No Purchase OptionCurrently, no option to purchase the vehicle at the end of the agreement.
Lead Times
Immediate AvailabilitySome stock is available for immediate delivery – but not all.
Charging Benefits
Charging InstallationNot included as standard but can be added if needed.
Pros
Comprehensive PackageIncludes insurance, road tax, breakdown cover, MOT, maintenance, replacement tyres, and accident assistance.
Wide Range of Vehicles
Broad selection of hybrid and electric vehicles.

A broad selection of hybrid and electric vehicles.
No penalties for early vehicle returns.
Free and Easy SetupSimple and cost-free setup process.
Cons
Business Age RequirementBusinesses must be operational for at least 2 years to apply is not great for new businesses.
Lack of Pricing InformationNo specific examples of car costs or pricing structures were provided.

Motor Source Group EV Scheme

Overview and Background

Motor Source Group is a subsidiary of Forces Cars Direct, it was initially established to provide vehicle sourcing and leasing services to armed forces veterans. Today, their Salary Sacrifice scheme is accessible to all businesses and individuals, regardless of their background. Founded in 2001 by two UK Army veterans, the company is based in Lincoln and operates on the core values of support and assistance, reflecting the founders’ military service.

Comprehensive Salary Sacrifice Solutions

Motor Source Group offers a wide range of salary sacrifice solutions tailored to meet the needs of individual car buyers and businesses of any size (providing they have been trading for 2 years). They can offer new car purchases, leasing options, and the sourcing of quality used vehicles, partnering with all major car manufacturers due to their independent status.

Inclusive Services and Benefits

The Motor Source Group Salary Sacrifice program is comprehensive, offering the following services:

  • Comprehensive Car Insurance: Full EV car insurance coverage is included.
  • Road Tax: The monthly payment covers road tax (no tax for EVs at present – but this is dude to change!)
  • Breakdown Cover: Included.
  • MOT: The cost of annual MOT tests is covered.
  • Maintenance: Regular maintenance to keep the vehicle in optimal condition without extra costs.
  • Replacement Tyres: Tyre replacement costs are covered.
  • Accident Assistance: Assistance provided in the event of an accident.

Easy Application Process

Applying for the Motor Source Group Salary Sacrifice can be done with these steps:

  1. Register Your Details: Start by filling out a registration form with your details.
  2. Arrange a Demo: After registration, arrange a demonstration to understand how the platform works.
  3. Platform Setup: Post-demo, Motor Source Group will set up your platform access.
  4. Team Access: Your team will receive access to the platform to explore available car options.

Early Termination Protection

A fantastic feature of the Motor Source Group scheme is its no-penalty policy for early vehicle returns. This flexibility is uncommon in the salary sacrifice space, allowing clients to return vehicles early without financial repercussions, and accommodating changing personal or professional circumstances.

Vehicle Options

Motor Source Group offers a comprehensive range of hybrid and electric vehicles:

  • Hybrid Vehicles: Self-charging hybrids and plug-in hybrids.
  • Electric Vehicles: A full range of electric vehicles is available.

Eligibility and Flexibility

The scheme is broadly accessible, with the main requirement being that a business must have been operational for two or more years. There are no restrictions on the size, financial standing, or sector of the business.

Contract Length and End-of-Agreement Options

Contracts range from 12 to 48 months. Currently, there is no option for employees to purchase the vehicle at the end of the agreement, although the funder may reconsider this policy in the future.

Immediate Availability and Charging Benefits

Motor Source Group offers stock for immediate delivery. While the standard package does not include charging installation, there is flexibility to add this if specifically needed, catering to customers with varying access to charging options.

Pros and Cons

Pros:

  • Comprehensive Package: Insurance, road tax, breakdown cover, MOT, maintenance, replacement tyres, and accident assistance are all included.
  • Wide Range of Vehicles: Offers a broad selection of hybrid and electric vehicles.
  • No Early Termination Penalties: Allows for vehicle returns without penalties.
  • Free and Easy Setup: Simple, cost-free setup process.

Cons:

  • Business Age Requirement: Businesses must be operational for at least two years to apply, excluding startups and newer enterprises.
  • Lack of Pricing Information: The absence of specific car costs and pricing structures makes it difficult to compare with other salary sacrifice providers.

Final Verdict

The Motor Source Group Salary Sacrifice Programme offers a no-penalty early termination policy, an inclusive scheme with an easy setup process. It’s one we recommend – providing you have two years of trading behind you.

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