Upfront deposit,bigger discount.
Employees save an average of £290 per month on any EV.
You spend just 30 minutes setting it up. Zero cost to your business.
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What are the benefits of Dynamic Deposits?
With loveelectric you now have the option to add a deposit to reduce your monthly payments
For drivers
- Maximise the savings on your car by adjusting the level of deposit you’d like to pay.
- Lower the monthly rental costs after the first 3 months of your lease.
- Tailor your payment schedule to suit your budget.
- Completely optional: choose your level of deposit.
- Particularly beneficial for drivers in higher tax brackets who’d like to maximise their savings.
For businesses
- Reinforces flexibility and affordability for your colleagues.
- Remains totally cost-neutral for your business - no additional fees or expenses.
- Ensures maximum uptake and colleague satisfaction
- Makes it a 'no-brainer' for senior colleagues to lease an EV and stay with the company.
- Offer the UK's best EV salary sacrifice scheme on the market.
How do Dynamic Deposits work?
Dynamic Deposits offer drivers maximum payment flexibility, a reduction in their monthly lease cost and a discount on their total lease amount.
Decide if a deposit is right for you
Dynamic Deposits are completely optional. Add a deposit and save or pay a single monthly fee* for the duration of your lease.
Select deposit amount
Tailor the amount to suit your financial needs and choose between different levels of deposit.
Spread it across 3 months
The amount you select will then be added to the first 3 monthly rental amounts.
How much could you save?
Dynamic Deposit pricing example
You can tailor the amount of deposit you'd like to pay to suit your specific financial needs.
(Months 1-3)
(Month 4 onwards)
*Your deduction amount may fluctuate in line with Benefit in Kind (BiK) rate changes and/or your employer's National Insurance Contribution (NIC) rates.
Frequently asked questions
There's no set figure, as it depends on a multitude of factors such as your salary and lease cost. We offer 5 levels of deposit; 1 being no deposit and 5 being the maximum deposit available. If a higher level of deposit would bring your salary below the minimum wage, then it'll be restricted from view at the point of ordering.
Nope. Dynamic Deposits are completely optional. If you want to pay a flat fee throughout your lease term from the beginning, then simply select Level 1 at point of ordering.
Currently, you're only able to spread the deposit amount across the first 3 months of your lease.
The benefits of increasing your payments in the first 3 months are two-fold. Firstly, your monthly payments from Month 4 to the end of your lease term, will be lower. Secondly, we offer an additional discount on top of the salary sacrifice savings. The higher the level of deposit, the more discount you'll receive.