Electric Car Business Leasing
The benefits of business leasing alone make business leasing a fantastic choice for businesses of all sizes. When added to the perks of hybrid and electric business leasing, the overall benefits are endless.
Hybrid and Electric Lease Car For Business
Many businesses across the UK hold fleets of cars of all sizes. Whether it be 1 to 2 company cars leased through your business or a fleet of 100 cars+, there are many benefits to leasing a hybrid or electric through your business.
Leasing Benefits
Fantastic tax incentives
Reduced running costs
Easy Maintenance options
Fixed Costs
Business Lease Deals
Click the button below to view our full range of business lease deals.
Benefit in Kind Tax
When we lease a car through a business, depending on the use of the car a benefit-in-kind tax occurs. When the use of the car is a company car, the driver of the car could be required to pay company car tax which is referred to as BIK – benefit in kind.
Benefit in kind depends on 3 things:
Price of the vehicle (P11D Value)
Driver's annual earnings
CO2 emissions of the vehicle
The rules change year on year so it's important to check the latest rules in related to benefit in kind.
Hybrid and electric cars have proven to be a great choice when choosing a company car with the government putting in place BIK savings on hybrid and electric. Company car drivers pay around 2% BIK on a fully electric car. Even the hybrids show a much bigger saving on BIK in comparison to a traditional engine.
Let's look at a few examples. Let's assume you were a 20% income rate taxpayer. The below compares traditional engine-based cars in comparison to hybrid and electric:
BMW 320d xDrive Sport Auto - 37% BIK - £239 per month BIK tax
BMW I4 eDrive 50 Sport 250kw Auto - 2% BIK - £17.25 per month BIK tax
Hyundai Tucson 2.0 CRDI Premium 185ps Auto – 37% BIK - £202.41 per month BIK Tax
Hyundai Tucson 1.6 TGDi N Line Plugin in Hybrid - 12% BIK - £78.58 per month BIK Tax
The below is based on a 40% income taxpayer:
Range Rover Sport 4.4 SDV8 Autobiography 37% BIK - £1,118.50 per month BIK Tax
Porsche Taycan 4S 390kw Auto – 2% BIK - £55.58 per Month BIK Tax
Want to learn more about company cars for your business?
Types of Hybrid and Electric
With a conventional hybrid engine, there is no option to plug the car in. A HEV engine uses the traditional engine for the majority of the journey. The battery is small within a HEV engine in comparison to a Plugin Hybrid engine. Conventional hybrids are still a great choice in comparison to a traditional diesel or petrol engine.
Plugin hybrids benefit from running both a battery as well as a traditional diesel or petrol engine. A great choice for drivers making the first step towards hybrid and electric from a traditional engine. Plugin Hybrids also have lower emissions than traditional engines making them a great choice overall. The combination of an electric battery combined with an engine makes PHEV a great choice for both short and long trips.
Battery electric cars are simply powered by an electric motor. Electric cars are currently the lowest to run and benefit from zero emissions. Fully electric cars are great for the environment overall based on operating on zero emissions. The battery is charged from a charging point whether this is in a public place or home fitted charger. Charging time depends on the KW output of the charger. Some rapid chargers can give a full charge in around an hour with standard chargers taking around 6-8 hours depending on the output.
Want to learn more about what electric cars can do for your business? Call 0161 814 9623
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Footballer
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