Jargon Category: Jargon

No single funder can offer the best price on every vehicle all the time. So for this reason we work with multiple lenders to get the lowest monthly cost for every vehicle order. Our multi-bid scheme ensures competitive pricing, with the cheapest quote forming the basis of an employee’s salary sacrifice quotation. This approach reduces […]

Worldwide Harmonised Light Vehicles Test Procedure – a measure of how far an electric car can travel on a full charge, under realistic driving conditions.

The total cost of owning and running a car — including purchase price, fuel, insurance, tax, maintenance, etc. EVs often have a lower whole-life cost.

The complete cost of having a car – including leasing, fuel, servicing, tax, and insurance. SalAd helps reduce your TCO through tax savings.

An agreement where an employee gives up part of their gross salary in exchange for a non-cash benefit — like a car. It reduces taxable income, so you pay less tax and National Insurance.

A form used by employers to report benefits like company cars to HMRC. Required if you’re using salary sacrifice for a vehicle.

Your take-home pay after tax, National Insurance, and any salary sacrifice deductions.

A tax paid on earnings. Salary sacrifice reduces NI contributions, creating savings for both the employee and employer.

A car that uses both a petrol/diesel engine and an electric motor. Plug-in hybrids (PHEVs) can be charged and run on battery power for short trips.

Your salary before tax and other deductions. SalAd takes payments from this, making it tax-efficient.