Octopus Electric Vehicles offers one of the UK’s most complete EV salary sacrifice packages, combining the vehicle, charging solutions and energy into one flexible ecosystem. Rather than automatically including a home charger, drivers can now choose the charging reward that best suits their lifestyle.
- Choose £400 home charging credit, £400 off a home charger or £400 Electroverse credit
- Compatible with Octopus Energy's smart EV tariffs
- Approved Used vehicles available
- Early termination protection built into every lease
An EV leasing company rarely understands both vehicles and the energy that powers them. With its roots and connections with Octopus Energy, Octopus Electric Vehicles Leasing offers a car and a full-on EV ecosystem.
Octopus also provides one of the leading EV salary sacrifice schemes for UK businesses. It’s a 100% EV salary sacrifice program that allows employees to enjoy the tax benefits of salary sacrifice schemes within an all-inclusive car leasing package.
Pros
- Flexible charging rewards
- Comprehensive all-inclusive package
- Diverse electric fleet
- EV Energy Tariff
- Nearly New EVs now available
We selected these pros and cons based on the criteria that Electric Car Guide customers identified as the most important to them in our survey of EV owners. We also researched real-world customer reviews on Trustpilot (both positive and negative) and compared Octopus Electric Vehicles’ features with its nearest competitors.
Am I eligible for an Octopus EV Salary Sacrifice?
To be eligible for a lease from Octopus Electric Vehicles, you need to meet the following criteria:
Residency: You must live in the United Kingdom.
Driving License: You must have a full UK Driving Licence.
Insurance: You are required to maintain comprehensive EV insurance throughout the lease duration.
It’s important to note that depending on the specific leasing product you choose, there might be additional requirements. Carefully read the agreement you receive to fully understand these additional conditions.
If there are any changes in your circumstances or eligibility, you should try to inform Octopus Electric Vehicles immediately. Failure to maintain these eligibility criteria may result in Octopus Electric Vehicles terminating the agreement and collecting the car.
Octopus EV Salary Sacrifice full review
Octopus Electric Vehicles is a top-tier option in the EV leasing space, mainly thanks to its seamless integration with Octopus Energy.
This synergy provides customers with charging benefits, from flexible charging rewards to generous mileage incentives..
When you lease with Octopus, you’re not just getting a car; you’re plugging into a charging ecosystem backed by one of the UK’s leading energy suppliers.
Octopus EV Early Termination Protection
Octopus EV’s salary sacrifice scheme now includes one of the most flexible early termination policies on the market. Protection begins from day one for major life events such as long-term sickness, maternity leave, or the loss of a driving licence due to medical reasons. For employment changes, the notice period has been reduced from six months down to just three months, giving businesses and employees far greater flexibility.
This cover applies to a minimum of 10 cars per calendar year or 10% of your fleet, whichever offers the greater benefit. Importantly, the protection extends to all electric vehicles in your fleet, with no cap on high-value cars.
Intelligent Octopus Go – EV Saver
New in August 2024, the Intelligent Octopus Go – EV Saver is an exclusive energy tariff designed specifically for Octopus EV drivers, offering a significant reduction in your off-peak energy costs. With this tariff, you can charge your electric vehicle for as little as 6p per kWh, making it one of the most cost-effective options available.
This tariff provides six hours of guaranteed cheap energy between 11:30 PM and 5:30 AM, perfect for overnight charging. This exclusive offer saves you an additional 1p on off-peak rates compared to the standard Intelligent Octopus Go, maximizing your savings and ensuring your EV is fully charged and ready for the day ahead.
Signing up is straightforward. If you’re already an Intelligent Octopus Go customer, simply link your Octopus Energy account through your Octopus EV MyAccount to activate the EV Saver benefits.
Not an Octopus EV customer? No problem. You can still take advantage of the Intelligent Octopus Go – EV Saver by switching to this tariff, even if you didn’t purchase your EV through Octopus.
Used EVs Now On Offer
Octopus EV now offers a nearly new EV option through their salary sacrifice scheme. These refurbished cars come with no upfront costs and provide an excellent opportunity to drive a top-notch EV at a fraction of the cost.
Low Age and Mileage
Octopus nearly new EVs are under 18 months old and have less than 15,000 miles on the clock.
Refurbished to High Standards
Each nearly new EV undergoes a thorough refurbishment process, ensuring they are free from major damage or faults.
Faster Delivery
Skip the long wait times for new models. Octopus new EVs should arrive within weeks.
Octopus EV Salary Sacrifice charging benefits
This is where Octopus Electric Vehicles genuinely differentiates itself from other EV leasing companies. Octopus offers unparalleled charging benefits.
Free Miles
Octopus offer a market-leading ‘free charging miles’ initiative. You can opt for 4,000 free miles added to an Octopus Energy account by transitioning to the Intelligent Octopus EV tariff.
Recognising that EV drivers charge in different ways, Octopus EV now lets customers choose between three charging rewards.
- £400 home charging credit on an eligible Octopus Energy smart tariff.
- £400 off professional home charger installation.
- £400 Electroverse public charging credit.
What’s included with Octopus EV Salary Sacrifice?
Octopus Electric Vehicles offers a comprehensive all-inclusive package, including:
- Flexible charging reward
Choose between £400 home charging credit, £400 off a home charger installation or £400 Electroverse public charging credit. - 4,000 Free miles
A generous 4,000 free charging miles - Maintenance & servicing
With Octopus, regular maintenance, servicing and EV MOTs are part of the package. - Tyre replacements
Replacing EV tyres can be an unexpected expense, so Octopus has added tyre replacements to its package. - AA Breakdown Cover
Octopus partners with the AA to offer EV breakdown cover. - No hidden delivery costs
Unlike some providers that can surprise clients with additional delivery charges, Octopus vehicle delivery comes with no hidden costs
Can I purchase the EV at the end of an agreement?
Not for those who opt for a personal agreement. Once the leasing term finishes, the EV returns to Octopus, as there isn’t an option to purchase it.
However, when it comes to the salary sacrifice scheme there is an option to purchase the car. Octopus will assess the current market value of the vehicle and offer you the appropriate price to purchase. This approach ensures that the price offered is fair and reflective of the vehicle’s present price if you were to buy it elsewhere.
Octopus EV Salary Sacrifice customer support
You can reach Octopus support via telephone (020 3870 3892) from Monday to Friday and via email at [email protected].
Octopus EV Salary Sacrifice options
Octopus offer a full-service Salary Sacrifice package.
Early termination protection
If, for any reason, the car needs to be returned before the end of the salary sacrifice agreement, then an early termination fee may be applicable. This depends on the protection plan the employer has in place.
Octopus urges users to refer to their specific ‘Driver Handbook’ to understand what cover they have and check with their employer before agreeing.
Parental leave and financial protections
If a user goes on parental leave during their lease period, they have the option to retain the car and continue payments as long as it’s financially feasible.
If there are financial constraints where one’s salary goes below the minimum wage or only reaches statutory pay, Octopus offers a safety net. Users are covered for up to 12 months from the start of their leave.
Long-term sickness considerations
For those facing long-term health challenges, the scheme is structured to support them. If you can afford it, you can retain the car. If there are subsequent financial challenges, protection extends up to 3 months from the onset of prolonged sick leave (defined as a period exceeding 4 weeks).
What Octopus EV Salary Sacrifice Do Well
Charging perks
Octopus recognises that every EV driver charges differently. Customers can choose between home charging credit, a discounted home charger installation or Electroverse public charging credit, making the scheme one of the most flexible available.
Comprehensive package
Octopus provides a holistic leasing package that includes maintenance, servicing, tyre replacements, and AA breakdown cover, ensuring customers are well-taken care of throughout their lease.
Diverse fleet
With a choice of every single EV on the market, Octopus offers one of the most extensive selections in the UK, catering to a wide range of preferences and needs.
Salary Sacrifice Scheme
A well-thought-out and comprehensive package that includes insurance (though optional for employers), maintenance, and other perks. Flexibility and protection are built into the scheme, with good provisions for parental leave and long-term sickness.
The final word on Octopus EV Salary Sacrifice
Octopus Electric Vehicles is a front-runner in the EV leasing space. Their backing from Octopus Energy allows them to offer one of the UK’s strongest charging ecosystems. Rather than automatically including a home charger, drivers can now choose the charging reward that best fits their lifestyle, whether that’s home charging credit, discounted charger installation or Electroverse public charging credit.
They offer a comprehensive leasing package. It bundles free home charging, an attractive 4,000 miles of free charge, meticulous EV maintenance & servicing, timely tyre replacements, dependable AA breakdown cover, and no hidden delivery costs.
Their diverse fleet, boasting access to all EVs, ensures that customers have a wide array of options to choose from.
As always customers should be aware of these finer contractual details, however, the charging benefits and add-ons still make Octopus Electric Vehicles stand out as a leading EV leasing option in the UK.
- Choose £400 home charging credit, £400 off a home charger or £400 Electroverse credit
- Compatible with Octopus Energy's smart EV tariffs
- Approved Used vehicles available
- Early termination protection built into every lease
Help if you’re struggling with debt from car subscriptions or leases
Late payments on car subscriptions or leases can lead to financial difficulties. If you find yourself struggling with debt from car subscriptions or leases, it is essential to seek professional guidance. Several debt advice services can help:
- StepChange: StepChange offers debt management plans tailored to your situation
- Citizens Advice: Offering free and confidential advice on managing debts.
- National Debtline: National Debtline is a helpline specifically designed to assist with personal debt, including car subscription or lease obligations.
- MoneyHelper (formerly The Money Advice Service): Providing tools and support to help you understand your options and make informed decisions.
Remember, the terms of car subscriptions and leases can vary significantly, so it’s really important to read and understand your specific agreements and obligations.
Octopus EV Salary Sacrifice review methodology
At Electric Car Guide, our review of Octopus Electric Vehicles was conducted with impartiality and an in-depth understanding of what electric car users value. Here’s how we worked through our evaluation:
- Customer Feedback from Electric Car Guide: We surveyed users from our EV focus group. These insights offered us a firsthand view of real-world experiences and car subscription expectations, allowing us to frame our review around actual user needs and preferences.
- Reviews: We took into account both positive and negative reviews from Trustpilot. This provided a balanced perspective, acknowledging the praises and criticisms Octopus Electric Vehicles has received from a diverse range of customers.
- Comparison with Competitors: We compared Octopus Electric Vehicles’ features, offerings, and customer experience against their nearest competitors in the electric car subscription market. This enabled us to gauge Octopus Electric Vehicles standing in the industry, highlighting its strengths and areas for improvement.
John is the Editor and Spokesperson for Electric Car Guide.
With over 20 years of writing experience, he has written for titles such as City AM, FE News and NerdWallet.com, covering various automotive and personal finance topics.
John’s market commentary has been covered by the likes of The Express, The Independent, Yahoo Finance and The Evening Standard.
