With the economy increasingly uncertain and prices continuing to rise, it’s natural for businesses to look for smart ways to economise. While no business can reasonably expect to downgrade the quality of their fleet of vehicles, many are looking for ways to cut costs. In this guide, we’re going to show you how to do just that by taking a closer look at the increasingly popular world of Tesla leasing.
What is a Tesla lease?
You no longer have to budget for a large cash outlay to buy a vehicle outright if you don’t want to. In fact, because most vehicles halve in value in less than 2 years, buying a car outright has never made less sense from a business point of view.
Leasing allows you to drive the very latest Tesla Model 3 for a fraction of the total sale price by taking out a leasing contract. In this case, the leasing company owns the car for the duration of the contract, you pay an initial amount followed by fixed monthly payments, and then you return the car at the end of the contract.
Why are Tesla leases best for UK businesses?
Cashflow is king in the world of business, as you no doubt know, and that means you want to maximise it at every turn. By being able to keep more money in the bank to cover unexpected issues, leasing makes sure you’re always lean and agile. Ideal when you want to be able to react quickly to changing utility prices, onboarding new suppliers, or expanding to larger premises.
Many UK businesses cited the following reasons as key drivers when they made the switch to leasing EVs:
- A lower upfront cost in the form of a reduced initial payment when compared to traditional purchasing helps you do more with the same amount of limited capital
- Lease payments that are made on a monthly basis can be claimed back as expenses against your corporate tax liability
- Up to 100% of the VAT on the monthly payments can also be claimed back, provided the vehicle is used solely for business purposes
All of this adds up to make Tesla leasing an affordable, flexible, and strategic option for UK businesses who are ready to grow in 2025.
Using leasing to stabilise costs
At a time when service providers and raw materials suppliers seem to be continually increasing their prices month by month, fixing your monthly outgoings is key. A Tesla Model 3 Lease will fix the monthly repayments for the duration of the agreement — typically 2-3 years — allowing you to budget with peace of mind.
You should also take into account the fact that the maintenance and repair costs will be much more predictable. This is because you will be driving the latest models with little or no mileage, significantly reducing the likelihood of having to repair wear and tear. It is also cheaper to recharge an EV than it is to refuel a petrol or diesel vehicle.
Additional savings with Tesla leasing
The good news is that the savings continue to help out your business the closer you look at standard Tesla leasing agreements. If you operate in a large city then you will have already come into contact with congestion charges and clean air charges, such as Londons ULEZ zone, all of which can significantly increase your monthly spend if you’re operating a large fleet.
Electric vehicles are 100% exempt from both types of charges, allowing you quick and affordable access to the centre of many cities across the country. Ideal when you’re meeting clients or moving to a city centre location as you expand your business.
Another key saving is time. Because the leasing company will still own the Tesla at the conclusion of the agreement, you won’t be left holding an asset that has dropped right off in value. This is really important when it comes to financing your next vehicle because you won’t be forced to spend time and effort trying to negotiate a sale or part exchange. Simply hand the key back to the leaseholder and select your next car with a clean slate.
The Final Word on leasing Teslas for business
The Tesla brand is very much in the news right now! However, in terms of design and environmental impact, it’s still no1. This means that you can make the switch to electric in a way that enhances your green credentials while also boosting your overall corporate image.
John is the Editor and Spokesperson for Electric Car Guide.
With over 20 years of writing experience, he has written for titles such as City AM, FE News and NerdWallet.com, covering various automotive and personal finance topics.
John’s market commentary has been covered by the likes of The Express, The Independent, Yahoo Finance and The Evening Standard.
