Zipcar, Inc. (Nasdaq: ZIP), the world’s leading car sharing network, is launching an innovative, easy-to-use salary sacrifice scheme that saves money for both companies and employees, whilst protecting the environment by replacing traditional car ownership.
Zipcar offers access to a range of low-carbon vehicles on a pay-as-you-go basis, for anything from one hour to a week at a time, and with Zipcar’s Salary Sacrifice scheme, employees can exchange a specified amount of their pre-tax salary each month for Ziptime, blocks of driving time to make reservations.
With Zipcar’s Salary Sacrifice scheme, an employee can realise savings against both a privately owned car and standard Zipcar membership. Zipcar members already benefit from significant savings versus car ownership. This scheme represents amazing value and via Salary Sacrifice, members can benefit from even greater savings: 24% compared to the average Zipcar member.*
The benefits to companies offering Zipcar’s Salary Sacrifice scheme are both financial and environmental. Companies can gain from reducing their Employer’s NI contributions; and all Zipcar vehicles offered as part of the scheme are low-emission, so they also complement corporate social responsibility policies. Current low-emission models in the fleet include: the VW Polo, VW Golf, BMW 1 Series, BMW 3 Series and Audi A3.
Mark Walker, general manager, Zipcar UK says, “Zipcar’s Salary Sacrifice scheme marks an exciting new era in employee benefits; a tangible benefit which combines all the advantages of a salary sacrifice car scheme with the economic and green benefits of car club membership.
“In the current economic climate, more and more drivers are looking for low cost, hassle-free alternatives to private car ownership, which is why Zipcar’s Salary Sacrifice scheme makes an attractive incentive for companies to offer staff, particularly as it involves no additional investment. All these factors make Zipcar’s Salary Sacrifice scheme a smart incentive for both employers and employees.”
As part of Zipcar’s Salary Sacrifice scheme, the annual £60 membership fee is waived, and employees exchange a portion of their pre-tax salary for a number of 5 hour blocks of Ziptime. Each 5 hour block of Ziptime is valid for 6 months from its issue date and multiple blocks can be used to make longer reservations.
Reservations can be made via the Zipcar iPhone and Android apps, online or over the phone. With over 1,500 vehicles at convenient locations across London, Bristol, Cambridge and Oxford, reservations can be made instantly on a flexible, self-service basis, whether it’s during the week for work (and expensed), or in the evenings and at the weekend for leisure.