CheapEV.co.uk promises a major shake-up to the old boys’ network of major Salary Sacrifice Scheme providers like Octopus EV, Tusker and Ogilvie, slashing EV leasing prices for employees by forcing price competition within the sector for the first time.
Chairman Steve Endacott commented, “The majors have always operated an old boys’ network, refusing to compete with each other on price. Although they have been forced by legal challenges to drop ‘Exclusive supply’ clauses from their contracts, this action effectively forces businesses to agree to their solus supply terms to set up an EV Salary Sacrifice Scheme.”
CheapEV believes that having just one provider for a Salary Sacrifice Scheme inevitably leads to employees paying higher lease costs, because there is no price competition for that provider’s business.
CTO Richard Plant commented, “The major Salary Sacrifice Scheme providers do not have public-facing sites showing EV lease prices, as these would make them easily comparable. Instead, they deliberately ring-fence access so that only the employees of specific companies can see the prices offered to their business. Secondly, because these prices are fully ‘bundled’ packages, it is hard for employees to compare them with other providers, as there are no publicly facing prices showing equivalent bundled prices. This is not an accident and is a deliberate strategy to allow them to overcharge employees, and CheapEV intends to break this monopoly and expose their excessive prices to all.”
CheapEV prices will always be publicly available for comparison, and it is currently developing a “Shop the Rest and then Lease for Less” tool for employees.
Plant explains, “Employees will have two easy options to compare prices, either by screen-grabbing an offer from their current provider’s site or by typing the car details into our site to call up our equivalent prices. They can also download a simple-to-use CheapEV browser tool that uses AI to read the pages of our competitors’ sites and automatically show the CheapEV price next to their prices on their sites. Bluntly, there will be no hiding place for expensive and uncompetitive lease deals anymore, and we will drive down Salary Sacrifice prices by forcing competition from ‘Employee Up’, with employees demanding a choice of SS supply from their employers to get access to CheapEV prices.”
CheapEV claims it will target becoming a “Secondary Supplier” to over 50% of existing EV schemes within the next 12 months, smashing the current cosy old-boys club and becoming the most hated entrant in the EV sector.
Chairman Steve Endacott commented, “Being a hated brand, feeding off the misery of our overpriced competitors is my ultimate ambition, as having a lean infrastructure and access to every lease price in the market guarantees our price competitiveness.”
CheapEV has benchmarked its prices against those of all major suppliers and claims an average saving of 10–20% on most leases.
CheapEV claims that this price advantage stems from providing all the infrastructure for implementing the Salary Sacrifice Scheme, including Fleet Insurance, Maintenance and Early Termination Cover, as well as full marketing, payroll and legal paperwork for employers. It also works with a range of Lease Brokers, who in turn have a wide range of funders that provide business leases within a fully compliant FSA framework.
Endacott commented, “Lease Brokers do not work on the ridiculously high £2.5k per EV margins that Octopus EV earns (analysis of publicly published accounts), and this automatically gives us a price advantage. This advantage has been significantly boosted by the exclusive deals manufacturers are offering to clear the overhang of new EVs created by the government’s EV mandate, as EV supply now exceeds natural demand in the marketplace. Working with a wide range of brokers and funders always means we have access to these deals, whereas the majors fund their own fleets and therefore usually have only one exclusive deal at a time.”
CheapEV launches its Beta site on Tuesday 25th September 2026 and, thanks to the scalability of its existing network of 60 brokers, expects to have a major impact on the sector. However, it is always looking for new broker partners, and enquiries should be made by calling +44 204 583 0170 to speak to a member of the team if a reader is interested in joining this new evolution in Salary Sacrifice.