In a move that’s set to reshape the landscape of electric vehicle (EV) ownership, significant car tax changes are on the horizon. From April 1, 2025, EV drivers will face new financial considerations, potentially adding up to £600 per year to their motoring costs. However, this shift also presents an opportunity for savvy drivers to explore alternative ownership models, with Electric EV leasing emerging as an increasingly compelling option for both business and personal customers.

The New Tax Reality for EV Owners

The forthcoming changes coming into effect from 1 April 2025 will see electric cars subject to Vehicle Excise Duty (VED) in the same manner as their petrol and diesel counterparts:

• New zero-emission cars registered on or after 1 April 2025 will pay £10 a year in their first year of registration and £195 a year from the second year onwards. Zero emission cars first registered between 1 April 2017 and 31 March 2025 will pay £195 a year, and the ones registered between 1 March 2001 and 31 March 2017 to pay £20 a year.
• Luxury EVs priced over £40,000 will face an additional £410 ‘expensive car supplement’ in years two to five of ownership.
• These changes apply to both new and existing vehicles, effectively removing the current £0 tax band for zero-emission vehicles.

EV Leasing: A Smart Solution in Changing Times

With two-thirds of all electric vehicles priced above £40,000, the higher road taxes, in addition to the initial investment, make switching to a zero-emissions vehicle less appealing. As the EV landscape evolves, leasing is positioning itself as an intelligent alternative to outright purchase.

ElectriX, a leading provider of EV leasing solutions, offers compelling options for both business and personal customers looking to navigate these changes efficiently.

Why Consider EV Leasing with ElectriX?

• Mitigate Tax Impacts: By leasing, you can potentially avoid the brunt of the new tax changes, as the leasing company often bears the burden of vehicle taxation.
• Predictable Costs: With fixed monthly payments, you can budget more effectively, avoiding unexpected expenses associated with ownership.
• Flexibility for Businesses: ElectriX offers tailored business leasing solutions, allowing companies to maintain a modern, eco-friendly fleet without significant capital outlay.
• Lower Initial Costs: Leasing typically requires a lower upfront payment compared to purchasing, making it easier to transition to an EV without a substantial initial investment.
• Access to Newer Models: ElectriX’s leasing options allow you to drive the latest EV models without the long-term commitment, ensuring you always have access to the most up-to-date technology and efficiency improvements.

The ElectriX Advantage

ElectriX offers a comprehensive range of vehicles, competitive pricing, and a customer-centric approach. Whether you’re a business looking to electrify your fleet or an individual eager to embrace sustainable driving, ElectriX offers leasing options that can be tailored to your specific needs.

With ElectriX’s leasing solutions, you can stay ahead of the curve, enjoying the latest in electric vehicle technology without the long-term commitments and potential tax burdens of ownership.

Contact ElectriX today to discover how our leasing options can keep you moving forward in the electric revolution, no matter what changes lie ahead on the road.