Motivate - with MotorV8
Most flexible reward currency
MotorV8 REWARDS points claimed online by salespeople for each of their qualifying transactions can be redeemed for credit on MotoNovo Finance Visa cards.
Being a Visa card, the MotoNovo Finance Visa card is accepted at millions of locations online and offline all around the world.
And money is available to spend on the card within hours of clicking to redeem points on the MotorV8 application.
Get some of your high street
When used at a range of UK high street retailers and restaurants the MotoNovo Finance Visa card automatically refunds a percentage of the purchase value to the card account.
While offers may change, current UK refunding retailers include
John Lewis 4%, Asda 4%, Debenhams 4%, Pizza Express 8%, Bella
Italia 8% Cafe Rouge 8%, New Look 7%...
Personal e-money account with text
All MotoNovo Finance Visa card holders have an online e-money account to manage their card funds with facilities to order an additional card for the account and set personal preferences to receive text messages when spending is made or more funds have been credited.
Extra online discounts
The online e-money account also links to a dedicated website with a wide range of exclusive discounted offers for which the Visa card qualifies.
Simpler finance commission
Dealers can now save time otherwise spent reconciling finance commission statements, doing manual calculations and PAYE.
The MotoNovo Finance Motorv8 REWARDS Visa card has been accepted by HMRC as a 'non-cash voucher' which, under MotoNovo Finance's agreement means that MotoNovo Finance pays the employer's NI contributions, the card is exempt from employees NI contributions and declaration of earnings for taxable benefit assessment is the responsibility of the recipient.
To comply with HMRC requirements, the cards cannot be used to withdraw cash in ATMs and there are a small number of other restrictions detailed in the terms and conditions, but otherwise the Visa cards are globally accepted in shops, restaurants, hotels and just about everywhere online and over the telephone where Visa is accepted in the UK and overseas.
With the Motorv8 Visa product, MotoNovo Finance provides an extremely cost effective and HMRC compliant service to dealerships while removing a range of hassle for them.
(NB These rewards are not 'income tax paid', because recipients are still responsible for declaring income earned in their annual tax return).
Control against business
MotorV8 also safeguards the dealership against finance business leakage.
Because incentive plans can be constructed for each dealership which ensure that business is written on agreed terms, contributing to stock funding charge scales, volume bonus arrangements, case fees and so on and not being leaked away.
For further details and to set-up your MotorV8 membership please speak to your local MotoNovo Finance account manager.