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Employee Car Ownership Schemes

Employee Car Ownership Schemes (ECO Schemes) are becoming increasingly popular with companies and their employees. With this type of funding programme the car belongs to the employee, but closely emulates a company car.

Employees receive a net monthly budget comprising of a combination of AMAPs and cash in order to fund their car. They are then able to purchase a new car under the scheme on a nil-deposit Credit Sale Agreement.

As part of a mixed-fleet solution, the ECO scheme option can prove highly beneficial, particularly where there is a need for a restricted company car list (for manufacturer support or reallocation purposes).

Our ECO Schemes are supported by our online car scheme platform called Optifleet. This has been designed to dynamically assign employees to the least-cost selection – company car or employee owned car – based on the specific individual mileage profile.

Optifleet is completely “hands free” with no company involvement and manages every aspect of a driver’s experience from initial car selection,

This includes:

  •  Credit Sale Funding with no company involvement;
  •  Maximum fleet discounts;
  •  WLC Calculated net budgets;
  •  Balanced budgets throughout term;
  •  Full maintenance;
  •  Guaranteed Future Value;
  •  Mileage Capture and Validation;
  •  24/7 DriverLine services;
  •  Early Termination Risk Mitigation (not insurance);
  •  Interim vehicles;
  •  Monthly AMAP reconciliation;
  •  Fuel Card reconciliation;
  •  Payroll reports;
  •  Carbon footprint reports.

Individual ECO Schemes are tailored to particular requirements and designed to present a Car Benefit Policy in the most cost efficient manner for a company and its employees.

Optifleet is the ideal solution for companies wishing to reduce fleet costs and emissions, and also add value to the car benefit in a properly managed environment.

For more information, on ECO Schemes, contact us or call 0800 091 4252