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Why You Should Lease An Electric Car For Your Business

When looking at options for a business vehicle, it can all feel a bit overwhelming.

Have you looked at leasing before?

It can be difficult knowing where to start, but it is worth remembering that buying is very permanent, and once you have purchased your vehicle, you are effectively stuck with your purchase until you come to sell it. Leasing, on the other hand, is great as you get to see which car is right for you and your business moving forward.

Now before you begin looking at cars, it is probably wise to establish what your monthly budget will be and which type of vehicle you will want to lease. Electric car leasing is becoming more popular as a cost-effective option.

Why Lease?

Leasing gives you flexibility, convenience, and affordability. By leasing, you will never own the vehicle, but you will never have to deal with depreciation either. For example, when you lease rather than buy, you ensure you won’t end up paying over the odds purchasing a car that will have lost value through depreciation the minute it left the showroom.

Electric car leasing is a great way to step into the world of EV without a long term commitment. There are many benefits to leasing an electric car and it can be a great option as a business lease because of the current 0% Benefit in Kind (BiK) tax.

Usually, when you lease a vehicle, you pay a fixed amount every month for the duration of the hire, meaning that you won’t end up with any large unwanted bills to pay at the end of the month. When a contract comes to an end,you usually give back the vehicle in a condition that matches the condition that is written in the contract that you signed at the start of the lease.

Another benefit to leasing is being able to get your vehicle maintenance taken care of. For a small additional fee, you can have peace of mind with your new lease car and bolt on a maintenance package.

Why Lease Electric?

  • Electric vehicles are kinder to the environment as they produce fewer emissions, some none at all. They are cheaper to run as you will not be paying for fuel, just electricity. You can also save on this cost by taking advantage of charge points while out and about.
  • You get to take advantage of the 0 % Benefit in Kind (BiK) tax in the 2020/21 tax year.
  • Fully electric cars pay no road tax, and they are authorised to access Ultra Low Emission Zones for free (ULEZ).
  • They are good for your business branding as they show customers and clients that you are a forward-thinking and caring business adopting more natural and kinder options.
  • You may be eligible for other additional local business grants for adopting new technologies, so it is always worth contacting your local council.

Many car manufacturers are adopting electric technology and with the Government announcing that half of all UK cars on the road need to be electric by 2030, there has never been a better time to look at an electric car lease deal.

Thinking of leasing an electric car? Visit today to browse a range of special offer electric car lease deals.