Business employees are among the primary target customers of a revolutionary new venture called ReLease, which specializes in promoting nearly new electric vehicles on leases. This innovative initiative from Ogilvie Fleet aims to provide used electric vehicles, some as little as three months old, to new and existing customers, including salary sacrifice users. The goal is to offer a more sustainable and cost-effective mobility solution for businesses and their employees.
The Challenge of Rapid Depreciation
One of the significant challenges faced by leasing businesses is the rapid initial depreciation experienced with electric vehicles (EVs). To mitigate this, some leasing companies are seeking to extend the revenue-generating lifetime of these vehicles by securing customers for a second lease term. This approach allows them to recoup some of the initial investment and maintain their profit margins.
- Lower cost used EV leases
- Increased accessibility to a broader audience
- Diminishing the level of retail new car and nearly new car retail buyers in the market
Another factor at play is the taxation benefits of salary sacrifice schemes. When employees lease a vehicle through a salary sacrifice scheme, the monthly payments are tax-deductible, reducing the employee’s taxable income. This can make the vehicles more attractive to drivers, especially those in higher tax brackets.
The ReLease Initiative
Ogilvie Fleet’s ReLease initiative offers used electric vehicles, some as new as three months old, with full maintenance packages and a comprehensive inspection to ensure peace of mind for customers. The vehicles are sourced from a variety of suppliers, ensuring a diverse range of models and makes are available.
ReLease is a key part of Ogilvie Fleet’s strategy to promote sustainable mobility solutions for businesses and their employees. By offering used electric vehicles on leases, ReLease aims to make EVs more accessible to a wider audience, reducing the barrier to entry for those who might otherwise be priced out of the market.
The initiative is also designed to encourage businesses to adopt sustainable mobility practices, which can bring cost savings and environmental benefits. As Nick Hardy, Ogilvie Fleet’s sales and marketing director, puts it: “It’s about embracing a smarter, more responsible approach to mobility, one that aligns with the evolving needs of modern fleets and organisations that are becoming increasingly mindful of sustainable solutions that also brings cost savings.”
Benefits for Businesses and Employees
ReLease offers several benefits for businesses and employees, including:
- Lower costs associated with leasing a used electric vehicle
- Increased accessibility to a wider range of electric vehicles
- Reduced environmental impact through the use of electric vehicles
- Peace of mind through comprehensive maintenance packages
By partnering with ReLease, businesses can demonstrate their commitment to sustainability and reduce their carbon footprint. Employees, meanwhile, can enjoy a more affordable and environmentally friendly transportation option.
Conclusion
ReLease is a significant step forward in promoting sustainable mobility solutions for businesses and their employees. By offering used electric vehicles on leases, Ogilvie Fleet is making EVs more accessible to a wider audience and encouraging businesses to adopt sustainable mobility practices.