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With this, an employee agrees to deduct a portion of their gross or pre-tax salary each month to cover the cost of a benefit or item provided by their employer. In the case of an EV, this arrangement can save an employee up to 60% of the cost of funding the vehicle themselves from their taxed income.
Now, when the cost of funds is more expensive, people think twice, its natural. We have clients coming to us for really specific pieces rather than just all-new cars. When the market is bubbly, people buy whatever comes, because money is cheap.
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