The Financial Benefits of Leasing a Hybrid SUV
We all want to be able to sign off at the end of the working week knowing that we have secured the best possible return for our businesses and wages for our households, and that will never change. What is changing, however, is the way that many of us get to and from work, as well as how we travel when we need to for work. The rise of the hybrid SUV market provides a whole host of eco-friendly options, and we want to talk you through how they can also become budget-friendly.
Fixed monthly budgets make things predictable
By paying a simple set price every month to drive the latest hybrid SUV, you take back control of your outgoings at a time when the economy is proving to be highly unpredictable. Having certainty over what you’re going to be paying is important if you’re leasing the vehicle yourself, and it’s certainly just as important if you’re leasing so that you can provide a valued employee with a company car.
Leasing a hybrid SUV avoids large capital outlays
Buying outright will deplete savings and expose you to the rapid depreciation of hybrid vehicles, driven in large part by the rapid improvements in battery technology. Leasing means that this becomes the problem of the leasing company, setting you free to focus on your business and providing the excellent service that your clients have come to expect from you. It also means that when it’s time to upgrade your fleet of company vehicles, you won’t be left trying to sell low-value, high-mileage models in an attempt to fund your next batch of purchases.
Benefit-in-Kind (BiK) savings soon add up
An employee who receives a perk such as a company car will have to pay tax as a result, which can take some of the shine off the initial offer. If you’re the employee, you want a great perk, and if you’re the employer, you want great value and a better way to attract and retain the best staff. The key point to note is that the BiK tax on company cars with greener credentials can be significantly lower.
For example, take out a Range Rover Sport Hybrid lease, and you will find that you qualify for a much lower company car tax bracket than if you were leasing a traditional petrol or diesel vehicle. The result is noticeably lower reductions to the take-home pay of your employees — something that is certain to sweeten the deal and help you to attract the best and brightest.
Leasing payments can be used to reduce corporation tax
If you’re leasing low-emission hybrids (defined as under 50g/km CO₂), you may be able to deduct some or all of the monthly payments from your business profits, thereby lowering your corporation tax exposure. Having your accountant contact a leasing company on your behalf will help you understand your options and ensure that you never fall foul of any potential grey areas. Just what you want to hear when you’re looking to make getting your business on the road work for you the smart way.
The latest battery technology will improve your range
New models will come with the very latest battery and engine technology, meaning larger ranges, faster charging times, and enhanced reliability. Add in the very latest safety and driver assist features, and you soon see that an investment in a hybrid lease is an investment in the efficiency of your business and the safety of your staff. Because you don’t own the vehicle and can simply hand it back at the end of the agreement, you also won’t have to deal with the rapid drop in value many hybrid SUVs are experiencing the moment the latest battery technology breakthrough rolls off the assembly line.
The reliability of low-mileage vehicles will keep you on the road
The last thing that you want is a fancy new vehicle that you find is constantly in and out of the service centre. By doing business with a trusted and highly experienced leasing company, you ensure that you only look at the most reliable makes and models of hybrid SUVs during the course of your search. This means that you will be choosing a vehicle that meets the needs of your business, one of which certainly has to be knowing that your team will always be able to get to where they need to be without delay.
With all of the above in mind, it’s over to you to connect with a name you can trust so that you can take your business to the next level. Not only will you be able to do it in a way that makes sound financial sense, but you will also be able to do it in a way that helps you attract and retain the best people in your industry.
