Electric Vehicle Incentives You May Not Know

By Lauren Bagnall
03-06-2021
Electric Vehicle Incentives You May Not Know

As we move closer and closer to the Government's 2030 target to stop the manufacture of internal combustion engine (ICE) vehicles, the sales of electric cars and vans have increased significantly by 43% in the last year. Some people are still put off by 'range anxiety,' the lack of chargers and the upfront cost of an electric vehicle, which is where vehicle leasing comes in. If you're looking to lease a van or car in the near future, electric alternatives are the way forward.

There are plenty of positive incentives out there encouraging drivers to go electric that are more than just environmental. You can save money on maintenance and road tax, and by turning to a lease deal, you can cut the cost considerably. Our contracts and initial rentals here at MW vehicle contracts (MWVC) can be suited to your preferences and budget, with monthly rentals that never fluctuate throughout your lease. Looking for an electric van or car? Read our latest article to discover some of the more enticing incentives.

Road Tax Benefits and Maintenance Costs

Electric vehicles (EV's) made before 2017 are all exempt from road tax. A worry for some drivers, road tax can be incredibly expensive for cars that have larger engines, which is why EV's are a much better option in terms of saving yearly costs. If the car was made after 2017 and it's worth more than £40,000, you will still have to pay a premium tax, which is around £310 for the first five years. However, this is still cheaper than the equivalent ICE vehicle.

EV's are also much cheaper to maintain, costing an estimated 23% less than ICE vehicles. They have fewer moving parts and are easier to set up, meaning there's less wear and tear in an EV. Here at MWVC, we're experts in car, van, and commercial vehicle leasing, and have an impressive range of pure electric and hybrid vehicles. The Mercedes Benz e-Sprinter is currently £507 per month ex. VAT, and is a perfect choice for businesses who want to lower their carbon footprint. To view the rest of our van leasing deals, please visit us here.

Ultra-Low Emissions Vehicle (ULEV) Zones

ULEV zones are a common sight in London, giving EV drivers exclusives zones to drive in at certain times during the day. In some areas in London, these zones are in operation 24 hours a day, seven days a week, and non-EV's will receive a fine if caught driving there. These areas aim to lower pollution and make the air quality better for everyone in the local area.

Birmingham are well on the way to introducing ULEV zones, and other cities are starting to follow suit. This creates a better standard of living for people in more polluted cities, and by driving an EV or newer hybrid model, you can enjoy these extra benefits on the road. On a leasing contract, cars and vans are much cheaper than buying upfront, making EV's much more accessible. The new electric Peugeot E-208 electric hatchback is currently £257.06 per month inc. VAT, and is great for families and individuals alike. If you would like the view the rest of our electric car leasing deals, please visit us here.

Government Grants

In order to get more people driving an electric or hybrid vehicle, the Government are offering 20% (up to £3500) towards the cost of a brand-new vehicle. You can also get up to £500 to help pay for your at-home charger, although most new builds nowadays come with them already installed. This makes EVs a lot more affordable, as we push on towards the 2030 goal as a country.

If you're looking to lease a van or car with zero emissions, we have an impressive collection of electric vehicles on a range of different contracts. The all-new Ford Puma hatchback is currently £254.86 per month inc. VAT, and comes complete with plenty of impressive interior space, and its hybrid features make it a great choice if you're not ready to go fully electric just yet.

If you're looking into leasing a brand new all-electric or hybrid vehicle, give us a call on 0116 259 9548, and a member of our friendly sales team will be sure to assist.