Buying an EV personal lease vs business limited company lease

Steve182

I assume you're aware that lease costs are circa 30% higher now than they were 12 months ago (that's how much my Tesla's increased)?

This year we've not taken on any new lease contracts for cars or vans but purchased them outright instead. I think our FD told me it's due to the finance interest rate increasing from circa 3% to 8.5%.  

So if your company has spare cash, buying rather than leasing will be a no brainer, unless you're getting 8.5% interest somewhere.

It makes no financial sense to have an EV as a personal car when BIK is only 2%