Wealth Experts look to the future with Zoom EV
With ever-growing environmental concerns, as an organisation we realised that as part of our ESG strategy, we could make a huge contribution to reduce our carbon footprint and decrease the threat of climate change by transitioning to electric fleet vehicles. These were the key reasons that influenced our decision, but there were also some wider benefits too.
With our investment portfolios we have launched ESG models for clients in 2021 and therefore any decision regarding cars needed to factor in sustainability. A company car must demonstrate these key factors and leasing a diesel or petrol in the current environment wouldn’t have been an appropriate use of funds.
Our Managing Director Richard Johnston, talks through how we found the process of switching to electric vehicles and explains some of the wider benefits which influenced our decision.
What were the wider benefits that influenced the decision to go electric?
Switching to electric cars, allows your business to free up cash flow that would not have been possible if we were to buy a company car outright. One of the wider benefits that attracted us to leasing was the affordable fixed costs and the ability to upgrade your car at the end of a lease, and take out a new one, hassle free!
Above all, an electric car with lower emissions means a better environment and the less tax you’d have to pay on your company vehicle. The costs can also be offset against corporation tax and there’s very little benefit in kind cost.
The cost of the lease payments attracts tax relief. However, the reduction in mileage claims is another factor which is a direct benefit of not funding fossil fuels as all energy that is put into the car comes from a provider that only produces and sources from renewable sources and private solar panels.
How did you find the process of going electric?
At first it seemed extremely daunting, as it was all new to us, and we had questions around the range, and where to charge. However, after a few days, it was clear this was the best transition to a new car I’ve experienced.
Credit to Zoom EV who we decided to lease our vehicles from, the team made the process so simple. From the initial enquiry right through to the collection of our vehicles, the communication was great, we cannot fault the service. The professional and knowledgeable team were always on hand to give us any advice we needed, to help us find the right EVs for us.
What to consider when switching your fleet to EV?
It’s certainly worth considering the wider benefits, trust in the professionals, and enjoy the EV as they are superb to drive. And, not forgetting it’s rewarding to know that we are doing our bit and helping the environment along the way too!
