There continues to be an upsurge in demand for electric vehicles, especially as the Government has a plan to roll out more low emissions schemes in many of the UK’s largest cities. London will be increasing the size of the Ultra-Low Emission Zone on 25th October 2021, encouraging only electric vehicles to enter these areas. Any non-electric vehicles will see expensive charges resulting in many courier and transport businesses exploring their options in terms of substituting all their fleet for electric vehicles.
Also, more business owners are being encouraged by their accountants to switch to an electric vehicle thanks to the beneficial tax savings. Not only is there a 0 to 1% benefit in kind tax but you can also receive 100% of the costs of your car against your taxable profits. So basically, if you purchase a vehicle for £65,000 you will receive a £12,000 saving on your corporation tax bill.
Whilst the current trend is to switch to electric there are still some great opportunities to upgrade any type of car or commercial vehicle. Demand is expected to peak again with the new registrations out in September.
No matter what the need is for a new vehicle, there are some incredibly flexible vehicle finance deals available. Of course, we have hire purchase, finance lease and contract hire however, there are also some excellent asset finance deals that can be utilised for purchasing new vehicles, you can learn more about this by reading Simon’s story.
The NGI team are very happy to assist with all vehicle finance needs, offering a solution which is often far more competitive than what a mainstream dealer can provide. To discuss further please call us on 01993 706403 or e-mail email@example.com.