Personal Motoring Plans

When employees opt out of a company car scheme and purchase a car themselves there is a temptation for companies simply to think that their responsibilities begin and end when they hand over the cash to their employee. This simply isn’t the case. Duty of care and legislation means that companies are still liable for the actions of their employees when driving on company business - it is still in their best interests to ensure that employees’ vehicles are maintained to a high standard and road legal. That’s why PMPs have become increasingly popular.

For drivers they offer a safe, structured scheme in which to enjoy all the traditional benefits of a company car together with potential savings.

In addition to the peace of mind outlined above, PMPs can provide companies with a smoother way to ease the changeover to a cash allowance option.

Masterlease’s PMP can give drivers the same peace of mind, choice of vehicle, support and service they expect from a company car. This means it can be implemented in the certainty that there will be no negative impact on morale, motivation, staff retention or recruitment.

We provide the most complete product on the market offering motor and payment protection insurance, including insurance against voluntary resignation leading to early contract termination.

The key financial advantages of PMP are:

·  Vehicle costs off the balance sheet
·  All finance and maintenance costs can be included in fixed monthly payments (excluding motor insurance)
·  Motor insurance and payment protection insurance are available
·  Guaranteed residual values

PMP can be implemented on a rolling basis, as existing vehicles come up for renewal, or across the board. We can advise on the most cost-effective and appropriate route, and then support implementation of a carefully tailored scheme in a number of ways:

· Scheme launch pack for drivers clearly explaining PMP
· Driver seminars and presentations

Our thorough, expert approach, backed by the purchasing leverage we get from buying around 20,000 cars a year, means we can offer the best value deal on a genuine like-for-like basis.