How does the Tusker scheme work?

Tusker’s Salary sacrifice car schemes work in a way similar to Cycle to Work schemes or childcare vouchers.

You agree to give up a fixed amount of your salary each month in exchange for a new car. This amount is deducted before income tax and National Insurance contributions, allowing both you and your employer to benefit from significant savings. With Tusker, the monthly amount covers everything — comprehensive car insurance, road tax, breakdown cover, MOT, maintenance, replacement tires, and even accident assistance.

With Tusker, there are no unexpected costs outside of your monthly agreed amount, the only thing you need to pay for yourself is fuel or charging, and that’s it, budgeting couldn’t be easier.

Better still, whether you choose a petrol, diesel, a hybrid or a full EV, your vehicle will be fully carbon offset by Tusker for the life of the contract, so you know that you are driving in a way that helps the environment at the same time as your wallet.

One key aspect of salary sacrifice to consider is that you are required to pay company car tax, known as Benefit in Kind (BiK), on your vehicle. The amount of BiK tax you’ll owe depends on factors such as your tax band, the car’s CO2 emission rating, and the car’s value. The good news is that if you choose a zero-emission vehicle, the BiK tax will be quite low, set at just 2% for this year, 3% for 2025-26, 4% in 2026-27 and then 5% from 2027. Following the 2024 Autumn budget, we have confirmation that BIK rates will remain low and are set at 7% in 2028 and 9% in 2029, concluding an additional 2% increase annually until 2030.

Choosing and ordering your car from Tusker couldn’t be easier. Browse the available cars that you have to choose from our portal. Tusker lists the cars’ different features, specifications, and, if it’s an EV, battery capacity, charging rates and range, so you can compare models, and find the right car for you. You can either build your own car, customising the vehicle to your liking by choosing the colour, additional features, and other specifications, or if you don’t want to wait and there is a car that you like in stock, you can get behind the wheel right away.

In summary, if you want to drive a brand-new car without the hassle of administration, while also saving on tax and National Insurance, a salary sacrifice scheme could be an ideal solution. If you’re unsure whether your company offers this benefit, reach out to your HR manager for more information.