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The Financial Conduct Authority (FCA) announced on 11 January 2024 that a review will be conducted in the vehicle finance market regarding Discretionary Commissions. We want to inform our customers that Anglo Scottish Asset Finance acts as a broker, not a lender, and if you believe you have been impacted by this issue, please contact your car finance lender. For further information, please click here

The Financial Conduct Authority (FCA) announced on 11 January 2024 that a review will be conducted

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Choosing An Electric Commercial Vehicle, Everything You Need To Know.

15th May 2024

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Do you know that commercial vehicles now account for 13.1% of all vehicles on the road in Britain – the highest recorded this century, according to new figures released by the Society of Motor Manufacturers and Traders (SMMT)?

 

This increase in commercial vehicles on British roads reflects the growth and development of the economy, as businesses expand their operations and transportation needs. With a diverse range of industries relying on commercial vehicles, from delivery vans to heavy-duty trucks, these vehicles play a crucial role in keeping the country moving, and as the demand for goods and services continues to rise, the reliance on commercial vehicles is rising.

 

Van ownership has risen to 4.6 million, but just 0.3% run on electric, and more than half a million using Euro 3 or older engines. With the ban on the sale of new petrol and diesel vans set for 2030, there is a growing interest in plug-in vans. However, the adoption rate lags far behind the rapid electrification seen in the car market.

Presently, there are 14,021 battery electric (BEV) and plug-in hybrid (PHEV) vans in operation, constituting a mere 0.3% of the overall van population. This figure starkly contrasts with the significantly higher proportion of electric cars on the roads.

 

Although one UK city is leading the way.  According to data from the Society of Motor Manufacturers and Traders (SMMT), Slough has emerged as the frontrunner in embracing zero-emission vans. With an impressive 2.2% of electrified van registrations and a total of 2,087 electric vans in use, Slough proudly holds the title of Britain’s zero-emission van capital.

If you would like to join the natives of Slough and are in search of a new electric commercial vehicle, there are various avenues through which you can obtain one….

 

We look at your buying options so you can make an informed decision.

 

Contract Hire

Contract hire, commonly referred to as car leasing, is a type of asset finance that enables individuals or businesses to rent a vehicle in exchange for regular monthly payments.

 

In a business contract hire arrangement, you or your company can acquire a car or van for a specified period and predetermined mileage at a consistent monthly rental fee.

 

Commercial contract hire is a valuable option for businesses aiming to initiate or grow their vehicle fleet without the need for a substantial upfront purchase.

 

By opting for commercial contract hire, businesses can enjoy the flexibility of using new commercial electric vehicles without the financial burden of ownership. This allows companies to allocate their resources more efficiently and focus on their core operations.

 

Additionally, contract hire agreements often include maintenance packages, providing further convenience and cost savings for companies. Overall, commercial contract hire presents a convenient and cost-effective solution for businesses looking to add electric vehicles to their fleet while maintaining financial stability.

 

How does Contract Hire work?

how does contract hire work

Visit our dedicated contract hire website to see available offers https://www.asvehiclesolutions.co.uk/

 

Electric Commercial Vehicle Sourcing

Choosing the right commercial vehicle can be a daunting task with so many options available in the market. the process can be simplified by using a vehicle-sourcing service. A vehicle sourcing service will compare manufacturers, specifications, and prices, to provide you with a comprehensive overview, making it easier for you to make an informed decision that aligns with your specific requirements. This takes the burden off your shoulders so you can focus on what matters most – running your business efficiently and effectively.

New vehicle Sourcing

We understand that choosing a new vehicle can be an exciting yet overwhelming experience. That’s why our team is here to simplify the process for you. With our extensive network of dealerships and knowledge of all major brands, we are well-equipped to assist you in finding the perfect commercial electric vehicle that suits your needs and preferences.

Whether you’re looking for a sleek sedan, a powerful truck, or a reliable van, we can provide you with informed recommendations and suggestions to help you make an educated decision. Once you’ve made your choice, we will take care of the entire ordering process, ensuring that you are kept informed every step of the way. From lead times to delivery dates, we will handle all the details so that you can relax and look forward to driving off in your brand-new vehicle.

If you need some inspiration, you can check out Auto Express’ best electric vans of 2024, https://www.autoexpress.co.uk/best-cars-vans/105891/best-electric-vans

Used vehicle sourcing.

Our team can also source pre-loved electric vehicles that offer a perfect blend of quality and value. Each vehicle in our trusted nationwide network of used car and LCV dealers undergoes thorough inspections to ensure that you are getting a reliable and top-quality vehicle.

Head over to our dedicated Facebook page to see current vehicles that we have available for sale https://www.facebook.com/AngloScottishVehicle

Part Exchange

This service is designed to streamline the car buying process, ensuring that you get the most value for your trade-in. By offering competitive valuations and the convenience of part-exchanges, we aim to make the experience as seamless as possible for our customers. Our commitment to providing accurate and fair assessments sets us apart, giving you confidence in your decision to choose us for your next vehicle purchase. Whether you prefer to discuss your options over the phone or through email, we are here to assist you every step of the way.

Added Extra’s

We understand that your needs may include specific customizations or additional features, and we are here to make it happen. Whether you require signwriting to represent your brand, roof racks for extra storage, tow bars for towing capability, or ply lining for added protection, we have you covered. Our team will ensure that all these extras are taken care of before the vehicle is delivered right to your doorstep. This way you can rest assured that it will be ready for action as soon as it arrives.

Contact our vehicle sourcing team today to see how they can help vs@angloscottishfinance.co.uk

 

Vehicle Finance

Once you have decided on the electric vehicle, or vehicles, that suit your business requirements, you’ll want to pay for them as efficiently as possible, which will likely be via finance.

When it comes to financing your electric vehicle purchase, there are several options to consider. One common choice Hire purchase. Hire Purchase is a way to finance buying a new or used vehicle. You (usually) pay an initial deposit, followed by monthly instalments until the value of the vehicle is repaid, at which point ownership is transferred to you.

Another option is to lease the electric vehicles. A lease purchase agreement can offer lower monthly payments. Monthly payments are calculated based on a fixed contract term with an anticipated mileage and predicted vehicle value at the end of the contract. At the end of the payment period, you can either buy the vehicle by paying the residual value, sell the vehicle and settle the residual amount, or return it.

A finance lease agreement is another option available to businesses. A Finance Lease is a flexible long-term rental agreement that allows you to make use of the commercial vehicle without the risks of ownership. There are two types of Finance Lease agreements – ‘balloon’ repayment and full payout.

The ‘Balloon’ repayment option allows you to defer a proportion of the vehicle’s value until the end of the agreement, leaving them with lower monthly rental repayments, whereas a Full payout is when you spread the amount financed equally over the term.

Additionally, some governments and organizations offer incentives and grants for businesses looking to transition to electric vehicles. These financial incentives can help offset the initial cost of purchasing or leasing electric vehicles, making them an even more attractive option for your business.

Ultimately, the key is to carefully weigh your options and choose the financing method that best fits your business’s needs and budget. By selecting the right financing plan, you can make the transition to electric vehicles smooth and cost-effective for your business.

Reach out to our vehicle finance team to find out how they can help https://www.angloscottishfinance.co.uk/vehicle-finance/

 

If you would like more information on any of the services offered by Anglo Scottish Asset Finance, or to enquire about a new electric vehicle, please get in touch.

The team are always ready to assist you with any queries you may have and provide you with the necessary information to help you make an informed decision. You can reach them by phone, email, or through our website. We look forward to hearing from you and helping you with your financing needs or electric vehicle inquiries.


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