5 reasons to transition your business to electric vehicles
Switching your business fleet to electric can be a big decision, and higher initial costs may be on your mind. But, there are a lot of benefits that come going electric, whether you just need one EV or a whole electric fleet. Including lower running costs, social responsibility and helping your company meet their environmental goals. If you’re looking to change to electric vehicles you don't have to buy outright. You can opt for a business contract hire lease plan to help your business swap to EVs.
What are the benefits of getting a business car lease?
If you’re looking at getting electric vehicles for your business you’ll probably be looking for a business lease rather than a personal lease or rather than buying a new EV outright. Some of the biggest benefits to electric car business leasing:
It can be cheaper - Getting a business car lease can work out cheaper than a personal lease. This is because of the tax savings you can make, but if you’re leasing multiple vehicles you’ll often find that there are a lot of deals you can take advantage of. This can mean that each vehicle works out cheaper to lease compared to getting them all individually as private vehicles.
Tax benefits - Using a vehicle for your business means you can treat it as a tax deduction. If you use the vehicle only for your business you can write off the full cost against tax. If you split the car and use it for both personal and business use, you can usually write off a percentage of the costs relative to how much you use the car for business purposes.
Spreading the cost - Buying a car is more expensive and will require having a major outgoing or a loan, which could cause cash flow issues or affect your ability to get other types of credit for your business.
This means that choosing to lease an EV through your business can be a great way to make sure your business has the right type of vehicle for your business needs. But why specifically should you go electric?
Transitioning your business to EVs
There’s a lot of reasons to go electric.. Some things to consider are:
- Lessen your dependency on oil - As we’ve seen in recent times, the oil industry fluctuates and changes a lot. Price hikes and shortages can be an inconvenience but especially for businesses where you rely on your fleet to be ready to go. Having electric vehicles can help make sure that you do not lose profits or struggle to keep operating even if there is an unexpected hiccup in the oil industry.
- Lower maintenance costs - Forget oil changes and other common service issues with petrol or diesel vehicles. Electric vehicles typically have far lower maintenance costs, which can absolutely save your company a lot of money. With our fleet package, this is all included in the monthly cost meaning one less thing to worry about. Lower maintenance vehicles are perfect for a fleet, for peace of mind and less surprise costs.
- Financial incentives - As part of the government's sustainability plans, there are a number of financial aids to encourage businesses to go electric. Though they aren't always available, it's worth keeping an eye out for any tax credit allowances or any business electric car grants that might help your business change to EVs . This can help the initial cost of EVs that may be the reason for doubts.
- Improved reputation and social responsibility - Public opinion is more important than ever for businesses. With so many competitors, and so many people conscious of which companies they're giving money to, a lot of your customers may look more favourably on companies that show their environmental commitment.. Of course, this needs to be combined with other social responsibility tactics, but going electric can not only help your company reach their environmental goals but also make you more favourable to a consumer.
- More pleasant working environments - Electric vehicles are quieter, smoother, and produce no emissions. This means your drivers get a more pleasurable driving experience and can boost your employee satisfaction.. Ensuring you offer a good working environment is one of the ways to help you retain good talent.
All in all, changing to electric vehicles can be a great move for your business, and the EV transition period does not have to be difficult or challenging at all. While it might seem cheaper in the short term to stick with petrol or diesel vehicles, going electric helps you look towards the future with longer-term plans for saving money, employee satisfaction and reaching sustainable goals.
Leasing with Octopus Electric Vehicles
If you are thinking about changing your business vehicles to electric cars and vans, Octopus Electric Vehicles will help to make sure that the transition is smooth and easy.
We offer the complete EV package, including a brand new EV, chargers, free-charge miles, servicing, maintenance, breakdown, and tyres. Our EV Specialists can help you get the perfect EV for your business's needs, as well as helping with VAT and tax information you need to make the most of your electric vehicle lease.
Get in contact with a member from the team here. We’ll handle all the paperwork so all you need to do is sign before your business can hit the in a brand new EV. Get in touch and check out our electric vehicle business lease deals to get started.