WITH fuel prices riding high, having been accelerated by the weakening price of sterling against the dollar, the universal currency for oil, businesses will need to rein in their company car running costs, according to Staffordshire-based fleet management and leasing specialists CBVC which recommends six business cars to save you money.
Many industry bodies have already started to warn that following the EU referendum result, the value of the pound is likely to result in higher pump prices despite a drop in the world price of crude oil.
However, CBVC believes businesses don’t have to grit their teeth while paying more at the fuel pumps. Choosing a more fuel efficient car can keep fuel bills in check, and reduce exposure to benefit in kind (BIK) tax bills.
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Mike Manners, managing director at CBVC, said: “Following the BREXIT vote, we have entered a period of uncertainty with fears of a UK or even global economic slowdown, and a severely weakened pound. As a result, cost reduction will be the number one issue facing businesses in a challenging economic climate.
“However, SMEs should act now and take advantage of historically low rates and not look like a pauper while still being prudent. You will be surprised what you can get in the way of hugely more efficient new cars for your business motoring.
“Our list below includes a petrol/electric hybrid and ranges from a Fiesta that will cost you under £100 per month to £400 for a Mercedes C350e Sport Premium Plus 4dr Auto, so there’s plenty of attractive options. Action is required now, as we believe rates will increase shortly. ”
Here are six cars from CBVC’s latest business lease offers (all prices ex VAT), from small hatch to big estate, all from different manufacturers but with low CO2 emissions, hence greater fuel economy and reduced benefit in kind (BIK) bills. And if they’re liable to road tax, that’s included.
Ford Fiesta 1.5 TDCi Zetec 5-door – 48 months
- Monthly cost £99.95 (£599.70 down + 47 payments of £99.95) 8,000 miles/annum
- Road tax – Band A (94g/km CO2) – and 78.5mpg
- Monthly BIK is £48.08 at 20%, £96.25 at 40%
Mercedes C350e Sport Premium Plus 4dr Auto – 24 months
- Monthly cost £399.95 (£2,399.70 down + 23 payments of £399.95) 8,000 miles/annum
- Road tax – Band A (48g/km CO2) – and 134.5mpg
- Monthly BIK is £49.58 at 20%, £99.16 at 40%
Vauxhall Insignia Diesel Sports Tourer 1.6 CDTi ecoFLEX Tech Line 5-door – 24 months
- Monthly cost £179.91 (£1,079.46 down + 23 payments of £179.91) 8,000 miles/annum
- Road tax – Band B (104g/km CO2) – and 72.4mpg
- Monthly BIK is £81.05 at 20%, £162.10 at 40%
Lexus IS Saloon 300h Executive Edition 4-door CVT Auto (petrol/electric hybrid) – 24 months
- Monthly cost £255.85 (£1,535.12 down + 23 payments of £255.85) 8,000 miles/annum
- Road tax – Band B (101g/km CO2) – and 65.7mpg
- Monthly BIK is £84.83 at 20%, £169.67 at 40%
Jaguar XE Diesel Saloon 2.0d R-Sport – 36 months
- Monthly cost £239.95 (£1,439.70 down + 35 payments of £239.95) 8,000 miles/annum
- Road tax – Band A (99g/km CO2) – and 75mpg
- Monthly BIK is £102.18 at 20%, £204.37 at 40%
BMW 5 Series 520d M Sport 4-door Step Auto – 24 months
- Monthly cost £266.14 (£1,596.84 down + 23 payments of £266.14) 8,000 miles/annum
- Road tax – Band C (119g/km CO2) – and 62.8mpg
- Monthly BIK is £143.69 at 20%, £287.38 at 40%