Business Contract Hire (BCH) is a great way to finance your next 100% electric car. With savings to be made on Benefit in Kind, VAT and fuel, you can not only save financially, but also help protect the environment for future generations.
First things first, what is BCH?
BCH is a type of lease which requires an initial rental payment of either 3, 6, 9 or 12 months, and an ongoing monthly rental payment dependent on which car you are leasing, the mileage and the length of the agreement. You can take a look at some example costs here.
What are the benefits of leasing 100% electric for my business?
Claim up to 50% VAT on your monthly rental
0% Benefit in Kind for tax year 2020-21 (increasing 1% annually until 2023)
Fixed monthly costs for the term of your agreement
Low maintenance costs for most electric vehicles
100% electric and 0g/km carbon emissions
Up to 90% fuel saving through switching to electric
What are the requirements of BCH?
All your business will need is to have been operating for a minimum of 2 to 3 years as a limited company, with all of your accounts up to date.
What are the key differences between PCH and BCH?
Business contract hire has the same payment profiles as Personal contract hire - and is only available to businesses. The pricing may sometimes reflect offers available to businesses, and the different services required to support businesses than a personal consumer - e.g. understanding Benefit in Kind rates. The rates for BCH are also typically show exclusive of VAT
We would love to help your business switch to electric driving - from choosing the right vehicles; to sourcing the best terms and funding; to then getting set up with clever energy tariffs for EV drivers and smart tech to make that all easy.
Contact us now at firstname.lastname@example.org or on 020 3870 3892. Or you can also check out our latest BCH offers here.