Check out taxation with this, if they offer a money alternative it may be better to take that.
I would also recommend that this might be worth a closer look.
My previous job i had a company car for years... i asked to opt-out several times but kept getting told I was an essential car user and refused to allow me to... yet the managers could easily opt-out and get payments towards whatever they liked.
I was looking into this in case I left (which i did in the end) and then was left without a car. If you opt-out I would imagine that the car would be under your name, but the employer paying towards it. Then if you were to leave, you would still have the car and could either try and payoff any remainig lease/finance fees left.
Not sure if this would be legit or not, I never did get round to reading up to find out.