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Car iQ


TMC, in partnership with Hitachi Capital Vehicle Solutions (“HCVS”), HRUX and BCF Wessex, offers Car iQ, the next generation Employee Car Ownership (ECO) programme.

What does Car iQ do?

Car iQ enables businesses to provide employees with a structured car scheme, but significantly reduces the cost to the employer, whilst ensuring the employee stays neutral, based in what they pay today in terms of whole life costs. It protects employees from future increases in company tax.

Why do we need Car iQ?

Car iQ has been developed in response to the legislation on Optional Remuneration Arrangements (OpRAs) and the ever-increasing company car tax in the UK. As the company car drivers opt out, fleets are in danger of losing control over the cars that employees drive.



  • Enables employers to retain control, whilst saving costs and maintaining the value of the benefit to the employee
  • Businesses can future proof their fleets
  • Employees may have access to a broader and better selection of cars
  • TMC arranges the funding with HCVS and the mileage capture, fuel management and audits
  • HRUX and BCF Wessex provide the tax advice, support the HMRC approval process, and the technical payroll adjustments
  • BCF Wessex and HRUX will work out the break-even point for each car in terms of the annual business mileage that needs to be driven to ensure that Car iQ makes cost savings. In many cases, only one business mile needs to be driven for Car iQ to generate savings
  • ERA Fleet Cost Management will support the holistic programme by providing support with vendor stewardship and management
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