We’re helping lead the electric vehicle charge – part one of a three-part series to help you understand the electric vehicle market.
We think nothing of pulling into a filling station and topping up our car’s fuel tank with petrol or diesel but we’ll have to get used to plugging in and charging up our electric vehicle’s battery.
That date is now closer with the government bringing forward a ban on selling new petrol and diesel, and now also hybrid, cars, forward from 2040 to 2035. It’s all part of the UK hitting its target of emitting virtually zero carbon by 2050.
That means electric cars are here to stay, not something you can say about conventional fossil-fuelled vehicles.
So, it’s time to embrace change by becoming an early adopter of electrified motoring.
Electric vehicles (EVs) are going to be particularly attractive to company car drivers this year.
From the new tax year on April 6, the benefit-in-kind charge on pure electric cars with emissions of up to 50g and a battery range of 130 miles or more will drop from the current 16% to zero. It will also apply to zero-emission pure EVs registered before April 6, 2020.
The tax rate will rise to 1% in 2021-22 and 2% in 2022-23 – a big financial incentive compared to petrol and diesel models and even hybrids.
At Credo Asset Finance, we’re here to help put you on the right road to zero emission electric motoring.
Marketing Manager Fran Brown said: “We specialise in financing electric cars. If there is something you want to know just give us a call and, if we don’t know the answer immediately, we will find out.”
We can also help you with a one-stop shop for all your electric vehicle needs from the car itself to guiding you through the charging options and we can package it all up into one simple finance agreement.
“A lot of these electric vehicles don’t come with dedicated chargers, so you need to build that cost in,” she explained.
“There are still some grants available so you need to do your homework…but we will try and answer your questions to give you a better understanding of what is available to you and the finance package that suits you and your circumstances.”
In part two, we look at the four different types of electrified vehicles, and help you decide which would be right for you.