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Vehicles going green

Vehicles Going Green | Finance for Electrical Company Vehicles | Company Car Finance

There has never been a more important time for companies to look at the benefit of going green for their fleet of vehicles.

It was recently announced that from 25th October 2021 the London Ultra Low Emission Zone (ULEZ) will be expanded. The zone will increase to an area encompassing both the North Circular (A406) and the South Circular (A205).

The ULEZ will continue to run 24 hours a day, 7 days a week – the only day exclusion is Christmas Day. It also applies to all vehicle types, including Cars, Motorcycles, Vans, Specialist Vehicles (up to 3.5 tonnes) and Minibuses (also including 5 tonne vehicles). For any vehicle travelling into Greater London, that does not meet the required emissions standards, the cost will be £12.50 (per day). On top of this they will also have to continue to pay the £15 (per day) congestion charge.

If we put this into perspective, if just 1 of your commercial vehicles has to drive in the ULEZ 5 days a week then the cost will be about £63. Then add in the congestion charge of £75 and the total outlay will be £138 per week. If we look at that over 52 weeks the cost then totals £7,176.

As always, these charges have been developed to encourage businesses to ensure their vehicles are meeting required emission standards, with a key focus of turning to electric vehicles wherever possible. Another key item to note is that it is likely that other large Cities across the UK will be looking to introduce similar low emission zones. If we look at the South West there are plans ahead for Reading, Bath and Bristol to start to introduce their own low emission plans.

Any type of business that demands travelling regularly into major cities will have to ensure their vehicles comply with all of the low emission zones. With the advances in electrical vehicles, it is quite likely that making the switch sooner will bring broad benefits. There are also some excellent business finance deals available to assist with all your vehicles going green.

If you would like to find out a little more please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.