New ReLease service offers nearly-new cars to employees

Business employees are among the target customers of a new venture which promotes nearly new electric vehicles on leases.

ReLease is Ogilvie Fleet's latest iniiative to offer used electric vehicles, some as little as three months old, to new and existing customers including salary sacrifice users

The often rapid initial depreciation experienced with EVs has led some leasing businesses to seek to extend their revenue-generating lifetime before remarketing them, by securing customers for a second lease term.

A lower cost used EV lease, coupled with the taxation benefits of salary sacrifice schemes, can make the cars attractive to more drivers, although it is diminishing the level of retail new car and nearly new car retail buyers in the market. Yet major AM100 groups such as Lithia, Sytner and JCT600 offer their own salary sacrifice schemes through their corporate leasing divisions.

In 2023 the car leasing firm Octopus Electric Vehicles introduced a salary sacrifice program focused on pre-owned electric vehicles (EVs), extending accessibility to a broader audience. Its 'Nearly New' salary sacrifice initiative aims to help EVs become more rapidly viable for mass market ownership, through offering tax-efficient leasing to employees of businesses which it partners with.

Some vehicles in the ReLease scheme are as new as three months old, while others have reached the end of their original lease arrangement. Regardless of age, with full maintenance packages and each vehicle is given a full maintenance inspection for peace of mind

Nick Hardy, Ogilvie Fleet sales and marketing director said: “It’s about embracing a smarter, more responsible approach to mobility, one that aligns with the evolving needs of modern fleets and organisations that are becoming increasingly mindful of sustainable solutions that also brings cost savings."

This year the Renewable Energy Association (REA) has been lobbying the UK Government for a range of measures to cut transport emissions, including making salary sacrifice schemes for electric vehicles (EVs) mandatory for medium and large businesses.