COSTS

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COSTS &
PRACTICAL ADVICE

With traditional fuel prices in a near-constant state of change, many consider the costs involved in buying or leasing electric (EV) or plug-in hybrid electric vehicle (PHEV) a worthwhile investment.

We wanted to explore some of the costs of hybrid and electric vehicles so that you can make the most informed decision, based on your particular requirements.

THE COSTS INVOLVED
WITH PURCHASING

When you are purchasing an EV or PHEV, the first cost that you need to consider is the overall price of the vehicle itself. Whilst some of the smaller models have a lower purchase cost, they often have a reduced range per charge. If you are looking for something with more power or more technology, then the cost will rise.

The second cost that you need to consider is the purchase and installation of the charging points, but there are Government grants available for commercial locations.

SHOULD YOU
CONSIDER LEASING?

When it comes to leasing you pay fixed monthly payments, with most agreements including maintenance and servicing. The leasing company takes the risks of residual value, therefore you do not have to worry about any depreciation. The vehicles are returned back after the term has passed and you can take out a new lease on a newer edition.

  • Leasing frees up working capital
  • Fixed monthly costs allow you to budget easily
  • Low initial outlay improving cash flow
  • No depreciation of vehicle losses
  • RFL and servicing, unless otherwise agreed, included
  • MOT and Breakdown is covered
  • You will gain access to the GKL Fleet Management portal

If VAT Registered:

  • VAT payable monthly rather than altogether if VAT registered 50% re-claimed on the finance element
  • If the car is a pure business lease (eg pool car) the VAT is 100% re-claimable
  • 100% re-claimable on all commercial vehicles
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ENVIRONMENTAL COSTS

When it comes to EV or PHEVs, the environmental costs need to be considered from a business point of view.

There are a variety of benefits, which include:

IMPROVED ENVIRONMENTAL IMPACT

If your business is working towards cleaner operations, then the introduction of EVs or PHEVs into your fleet can help do just that.

IMPROVED PUBLIC IMAGE

In the day and age of social media and brand image, a fleet of EVs and PHEVs can help showcase the care your business places in reducing carbon emissions.

ENHANCED EMPLOYEE RETENTION

With the rise in popularity of EVs and PHEVs, introducing them to your fleet can help incentivise new employees to join your organisation, especially if they are already looking for an organisation with “green credentials”.
WHAT ELSE WOULD YOU LIKE TO KNOW?

To find out how we can help you with choosing the right vehicle, then arrange a free call back with a member of our team today.

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