No single funder can offer the best price on every vehicle and we regularly see large differences in leasing and maintenance costs between providers. This is why we have worked with multiple lenders over the last 10 years on a procurement approach that invites providers to competitively quote. This ensures the lowest monthly cost for our customers and protects against price creep; we call this multi-bid.
However, this approach has not been available to salary sacrifice drivers – until now. SalAd remedies this by adopting multi-bid to drive down costs so that more employees, who would have previously been excluded due to National Minimum and Living Wage affordability checks, are able to eligible to enjoy the benefits of a salary sacrifice car scheme.
How does it work?
Through our multi-bid approach we invite quotes from at least three leasing companies, with the cheapest quote forming the basis of our salary sacrifice quotations.
Benefits of Multi-Bid
- Savings – By leveraging constant competition between funders to provide their best price, we can reduce rentals by up to 20% compared to just using a single funder
- Greater vehicle choice – Because employees benefit from the most competitive price being used to build their salary sacrifice quote, they get access to a wider range of vehicles
- Increased scheme take-up – Creates a more inclusive and attractive salary sacrifice car scheme
- Avoid surprise charges – We include a £300 end-of-contract damage waiver just like our corporate customers enjoy
- Single point of contact – All orders, regardless of funder, are managed by us