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In this article

Revolutionising EV salary sacrifice: how loveelectric makes getting an EV cheaper, faster and simpler than ever before

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Anna Brow
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March 17, 2026
loveelectric has improved its early termination protection to offer no financial penalties if employees lose driving licences due to ill health, die, or go on long-term sickness leave. Only a three-month rental penalty applies in cases of international secondment or licence revocation for other reasons.
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Here at loveelectric, we’re incredibly proud of our industry-leading service. From our robust early termination protection to our unique tech platform, we continue to pave the way for the next generation of electric car brokers.

But that doesn’t mean we’re finished innovating. Far from it. Behind the scenes, we’re working tirelessly to improve our service and adding value for our customers.

Here’s how we’re making employers' and employees' lives easier. 

Ready to see our market-leading service in action? Get started with our EV salary sacrifice employee benefit. 

Improved early termination protection

Top of the mind for anyone thinking about signing up for a lease is what happens if it ends early or unexpectedly. As an EV salary sacrifice provider, we know that both company and driver need to have peace of mind that they will be protected if the lease ends for any reason.

That’s why we’re thrilled to share an essential update to our early termination protection that will further safeguard employers and employees. 

There are now no financial penalties if the employee:

  • Loses their driving licence due to ill health
  • Dies in service
  • Goes on long-term sickness leave.  

Only 3 months rental penalty if the employee:

  • Goes on international secondment
  • Has their licence revoked for any reason other than ill health 
  • Has reduced employment hours, and they can no longer afford the lease
  • Retires during the lease term.
Our market-leading early termination protection

‍These additions to our robust early termination protection solidify loveelectric’s position as the market-leading partner for companies nationwide. With us, you know that you have complete peace of mind – so you can sit back and enjoy the benefits EV salary sacrifice offers your business. 

Of course, this cover is the final step in our risk management process. If an employee resigns before the end of their lease, we can often migrate the lease to the new company or another employee within your business. 

Learn more about our market-leading early termination protection

National Minimum Wage changes: adding extra security

We love salary sacrifice because it offers employees an incredible perk at a below-market rate. This saving is so substantial that, simply by choosing to take on an electric car lease, many of our drivers see an effective raise.

But it’s important to remember that your gross salary will decrease slightly by taking on this lease. We must ensure our drivers do not fall below the minimum wage when accounting for this lower take-home salary.

In the Autumn budget, we learned that the National Minimum Wage will rise to £10.42 in April 2023. This increase means that some employees who once could afford a specific EV may now see it fall out of their price range.

We want to ensure that this change is as clear as can be for employees when searching for their new car on our app. Our app now reflects this planned increase, ensuring that all potential drivers only see vehicles that will keep their pay above the national minimum wage threshold after paying for their EV lease. 

Critically though, this change ensures that the companies we work with comply with employment legislation. 

If you are a loveelectric customer, you will see that we have already updated this change in our app.

Find your EV here

Feature updates in the company and employees portals

We’re delighted to share that both employee and company portals are now available for loveelectric customers! 

We designed these portals to support individuals and organisations in keeping track of their scheduled delivery dates, engagement levels, paperwork and much more.

Next time our drivers log in to the app, they’ll see our favourite new update: our delivery tracker. For many of our customers, having total clarity about when their ordered EV will arrive is imperative – now they can see any updates to their lead time and expected delivery date at a glance. 

To access the company or employee portal, simply log in to the loveelectric app. Haven’t created your account yet? Click your company’s magic link and create an account.

Want to have a sneak peek into our app? Join our weekly webinar for a tour.

Salary sacrifice chargers are here!

Did you hear the big news? We’re hyped to finally offer home smart chargers through salary sacrifice alongside our friends at Hypervolt.

Roll a Hypervolt smart charger into your EV lease, and you'll take advantage of salary sacrifice tax savings - that’s up to £500 off a fully-installed, beautifully-designed charger for your home.

Learn more about how smart charging can ease the pressure off your wallet – and the planet. 

48-month contracts are BACK

After a temporary pause on 48-month contracts, we are thrilled to finally reinstate them across the board! 

We implemented this pause while we awaited last year’s government announcement on the EV Benefit in Kind (BiK) rate. The BiK rate is a form of tax for any benefit offered to an employee in place of monetary compensation. Previously, there was uncertainty about the EV BiK rate beyond 2025, and we decided to pause this offering until we had complete certainty.

Last year, the UK Government confirmed an ultra-low EV BiK rate until at least 2028, so we are delighted to reinstate 48-month contracts for all of our customers. 

What is the BiK rate and how does it affect EV salary sacrifice?

Meet our EV Experts! 

Know that you’re ready to transition to electric but are unsure which EV is best for you? Can’t make heads or tails of the different models, ranges or trims available? It sounds like you need to meet our EV Experts! 

Our EV Expert team is just that: experts about all things EV. They are on hand for any potential driver who needs support or a friendly face to help match them with their perfect car. 

And because our EV Experts have a deep knowledge of the market, they always have a list of special offers and in-stock electric cars ready to go. That means you could be doubling up on your savings or getting your new EV ASAP – no need to twiddle your thumbs while you wait for your car to roll into your driveway. 

Our EV Experts are available to anyone with access to our app. Register now for your first weekly email about our in-stock and special offers. 

Get started here
Please note: all information in this blog is correct at time of publishing. If you are a customer, please refer to the Driver Handbook or Supplier Agreement for up-to-date information.
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loveelectric is a trading name of Love Electric Financial Services Limited, a company registered in Scotland, Company Number SC374952. VAT registration number 386404284. Love Electric Financial Services Limited is authorised and regulated by the Financial Conduct Authority, firm reference number 743264, and is a credit broker and not a lender or insurance provider. The salary sacrifice scheme offered by Love Electric Financial Services Limited is a business to business contract hire agreement, however we may make recommendations for consumer credit products offered by our partners. British Vehicle Rental & Leasing Association (BVRLA) member number: 10549. Registered office and trading address: 5 South Charlotte Street, Edinburgh, EH2 4AN. ICO reference number: ZB075747. Any prices quoted are subject to changes in law, regulation, tax or duty beyond our reasonable control.

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