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It’s a new year, a new decade and 2020 is set to launch a new era in motoring with electric vehicle (EV) sales on a charge.

2020 is being heralded as the year of the electrified car, particularly zero-emission battery-only models, with attractive tax breaks for company car drivers, more affordable models and potential battery ranges approaching 300 miles on a single charge.

Credo Asset Finance is already a leading light in the finance sector when it comes to funding electric vehicles. And it is about to play a big role in helping businesses and individuals switch to electric cars and vans, the latter ideal for urban driving and deliveries. Finance packages can also include the cost of fitting faster chargers at home or business premises.

Business Development Manager, Lewis Buckley said Credo Asset Finance was one of the few finance companies which could offer personal contract purchase (PCP’s) on electric vehicles which many other lenders shied away from.

With EV technology moving quickly, many drivers choose to take the leasing route to give them more financial security and being able to budget with monthly payments, helped by increasingly strong residuals on used hybrids and EVs, over a set term.

“We can do PCPs in personal names or balloon products for businesses, who can also have electric vehicles on a lease.”

Electric cars will become more popular with business users from the new financial year in April, as EVs with zero emissions will qualify for 0% benefit-in-kind tax liability in 2020-21 for company drivers.

“Over the last six months we have seen more people asking about financing electric cars,” said Lewis.

“We are also refinancing balloon payments for people coming to the end of a PCP agreement on an electric car. Now people who have had EVs on three and four-year PCPs are deciding to settle the final balloon payment and buy them outright.”

But there aren’t many asset finance companies willing to do that because they don’t have access to the range of lenders Credo has.

Some are not keen about refinancing optional balloon payments at the end of PCPs, preferring to stick to hire purchase (HP) but Credo has the advantage of offering its own book finance so can be more flexible.

Marketing manager Fran Brown said: “Before you take a finance deal from the dealership come and see us and give us a chance to quote.

“Don’t automatically take up a quote. Come to us and find out what the alternatives are. Our responsible lending is always geared to the individual’s needs and no two people are the same.”

Whether you voted in or out, are a Remainer or a Brexiteer, or frankly at this point feel past the point of caring, one thing that hopefully everyone can agree on is that after more than three years of uncertainty and indecision it’s time to get on with life.

After three extensions for actually leaving the EU following 2016’s referendum, and December’s General Election giving the Conservatives an overpowering majority in the Commons, the UK makes the break, today, January 31.

Even after that official exit, there are still a lot of talks to take place, including trying to sort out a trade deal, but now’s the time to get back to business.

A lot of companies have put their plans on hold, and shied away from investing in their businesses, but Credo Asset Finance is here to help them get back on track.

Marketing manager Fran Brown said: “Whatever your personal views, business will still carry on, and particularly for local companies servicing the local market it’s a great time to get things moving again.”

“If you want a new car, new van or other assets to drive your business forward, ask yourself why are you waiting? There is nothing to wait for now. Don’t let a competitor take your opportunities.”

As well as some fantastic finance deals currently, Credo also offers its own book lending from its own funds that has already helped hundreds of businesses purchase assets that other traditional lenders might avoid.

“All the talk about Brexit has caused a bit of a downturn in some sectors with many companies and individuals scared of investing in their businesses. It was uncertainty about whether it was happening or not.

“People tell us they felt they needed to be cautious, to hold on to their money in case they could not meet the extra demands on the business, which is understandable. But recently, as some of the uncertainty has started to dissipate, we’ve seen an upturn. The astute businesses have recognised their customers and their markets still need the same services they did yesterday, last month and last year, and there’s lots of opportunity for businesses to grow. We can help them to do so.”

Credo Asset Finance are delighted to announce that we are a finalist in the Excellence in Financial Services and Insurance category in the Broadland and South Norfolk Business Awards.

Credo have been in the heart of the Broadland area for the past 12 years and its always really pleasing to be recognised locally for the work we do to help local businesses, as this is where our heart is.

The Award ceremony itself will be held on 26^th March at The Open, Norwich which will be a black tie event. 

It’s now been two weeks since we moved to Iceni Court near Norwich Airport and everyone is ready to help even more businesses with funding solutions that help their business to grow in 2020! Credo have achieved so much since 2005 when Simon Gray started the business from home, brokering deals amounting to £250k each year, and now the turnover is nearly £50 Million

This has been achieved by a focus on creating long lasting relationships over short-term gains; through working closely with our customers to ensure we provide solutions for the funding of assets of thousands of local businesses, winning many awards along the way.

We may have moved to bigger premises, but thats the only thing that will change – we will continue to pride ourselves in always doing what we say we are going to do, making sure we listen to our customers and doing the best we can to save them money and earn their trust.

Our success couldn’t have been achieved without the support from our customers, dealers and suppliers that continue to use us time and time again, so we thank you all.

So here’s to 2020! Come and see us and talk to us about your plans for this year..

Photos professionally taken by James Bussey – Native Origin