The cheapest way to drive a new electric vehicle

This clean air day, Tusker are highlighting that there has never been a better time to drive a new Electric Vehicle. There’s soon to be even more incentive to drive the lowest emitting vehicles, including:

  • Cheapest way to drive an Electric Vehicle (EV) is via Tusker’s Car Benefit Scheme – cars set to reduce by an average of £200 in April 2020
  • Biggest range of electric vehicles available
  • Additional Clean Air Zones due across the UK in the next two years, including Leeds, Manchester, York, Oxford, Sheffield, Liverpool, Bath and Birmingham

There are more electric vehicles available than ever before, and the number of these are increasing – rapidly. With Benefit in Kind (BIK) tax set to reduce dramatically in April 2020, EVs are perfect for those wanting to take a car via salary sacrifice.

Offering considerable savings to drivers, as well as being congestion charge and Ultra-Low Emission Zone (ULEZ) compliant (so no daily charges apply for those travelling into London and other major cities in the future), there are mounting reasons why ULEVs are becoming more popular with drivers.

Tusker are today showcasing the Car Benefit Scheme in Leeds City Centre as part of the Clean Air Day celebrations, led by the city council, focusing on the savings that employees at the council (and all Tusker schemes) can make, now and from April 2020.

This is due to the changes in Benefit in Kind rates, which drop by 14% to just 2%. A huge difference for cars emitting up to 50g/km CO2 that can also travel more than 130 miles on electricity only. Cars emitting under 75g/km CO2 will see their BIK rates reduce to 16%, replicating the same tax breaks that were available years ago.

In real terms for 2020-21, an individual earning £30,000 a year driving a 1.5l VW Golf petrol in 2020-2021 would incur £116 per month in BIK tax. In the same tax year, the tax for an all-electric Golf drops to just £11 per month.

Over the course of a year, someone on an annual salary of £30,000 could save almost £4,000 in BIK over a three-year contract. When taken under a salary sacrifice arrangement, they could benefit from an overall tax efficiency of around £6,000. And that’s without factoring in the average Tusker ULEV driver’s fuel saving of a massive £750 per year.

It’s attractive for employers too, as tax and NI savings can be made on ULEVs, so there are savings of over half a million pounds* available for some employers.

With over 100 models available on the Car Benefit Scheme, ranging from the Nissan Leaf to the Tesla Model X (including the new Tesla Model 3), there are more cars than ever before available, featuring the very latest in car technology. From electric only models to Plug-in Hybrids for those who still need a conventional engine, there is something to suit everyone.

The new models available have resolved previous concerns over battery life and range, almost eradicating these issues, with new generations of batteries making average ranges over 200 miles, and charging times reduced to just minutes.

In addition, throughout the month of June, Tusker are offering a free home charging point, with free standard installation, for all orders of plug-in electric vehicles (worth £250) so drivers can conveniently charge their cars at home.

With ULEZ due to be launched in more cities across the UK in 2020 and 2021 and the tax savings soon to be available, can you afford not to go green?

*public sector scheme with over 200 vehicles, of which 50% are ULEVs, over a 3 year period, savings total £554,520

Find out more about how Tusker can help your fleet and employee benefit package, here