Benefits of leasing an electric company car

By Ben Lawson, Pure Vehicle Leasing

Are you one of those drivers who would like to own an electric car but think it best to leave it a few years?

Published in Norfolk Director magazine, Spring | Summer 2022
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Electric Vehicle Leasing: Pure Vehicle Sourcing

The truth is, there has never been a better time to lease one through your business. With numerous financial and environmental benefits, you can make the smart decision right now.

First, let’s look at the finances. Leasing through Pure Vehicle Leasing means you pay a monthly fee for a new vehicle and return it after two, three or four years, replacing it with another new model. You never take the huge depreciation hit that traditional buyers face. Nor should you worry about how much it might cost to replace your batteries when their natural life ends.

Savings made on tax and fuel

You can offset the rental against taxable profits; half the VAT can be offset against your VAT bill (presuming you use the car privately, too); the other half of the VAT can also be written off against taxable profits.

But what about company car tax? It’s a fair question, but leasing an electric car comes up trumps once again. The benefit in kind (BIK) rate you pay for an electric car will be tiny compared to petrol/diesel models. Plus, you won’t pay annual vehicle (road) tax.

Then you can factor in the fuel savings. With most electric cars now enjoying a range of around 250-300 miles, most users will rarely need a public charging point. You can plug in at home overnight, even setting the timer to run during the midnight to 7am cheaper rate, costing only a few pounds. If you need to top up on the road, there are more charging stations, many now with fast charging options, being added all the time.

Benifiting the environment

The figures add up and so, too, does the environmental benefit because your electric company car has a tiny carbon footprint and won’t pump polluting exhaust fumes into the streets.

Here at Pure Vehicle Leasing, we access all makes and models and offer exceptional rates from the best finance companies. The Government is banning all petrol and diesel car sales from 2030 (and hybrid by 2035), but you don’t need to wait that long to switch. Please do contact us to find out more.

 

Benefits of leasing an electric company car 1

Ben Lawson is co-founder of Pure Vehicle Leasing. Contact him on
T: 01603 859022
E: ben@purevehicleleasing.co.uk
or visit purevehicleleasing.co.uk

Table of Contents

Guide to Leasing Electric

Thinking of going electric but think it best to leave it a few years?

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