Corporate vehicle leasing is beneficial for both Employees and Employers

If you want to have an EV, earlier you’ve had only 2 options either to buy one by paying the full upfront cost or get a loan for it. Both of these were financially straining decisions and made you to stick with that particular car for a very long time. Then in 1952, a leasing company started offering cars on lease and after that, there was no looking back for car leasing, and today Zecat is one of the companies to start a dedicated platform for EV leasing.

What is EV leasing:

EV leasing is one of the methods of owning an electric car where the customer pays a monthly fee for driving it and keeping it with them for a month. In EV leasing the customer doesn’t have to worry about anything related to keeping the car because extra amenities like RTO tax, car insurance, accessories, etc. will be taken care of by the leasing company (Like Zecat).

It sounds like financing an electric car, right? Well, it’s much different, in financing you own the vehicle but in leasing you don’t really own any vehicle, and because you don’t own anything you can always return the vehicle by the end of your leasing period. Leasing gives you the freedom to change the car whenever you wish but financing just bounds you up with the vehicle and you can’t replace the car with flexibility.

What is corporate EV Leasing?

In corporate EV leasing, a registered business or an organization leases a large number of electric vehicles from Zecat or any other leasing company for their employees or any other business operations. Leasing an EV saves a huge cost for the corporates because the business doesn’t have to invest a large upfront cost instead, they can pay for the vehicles monthly and neither the company has to worry about the maintenance, insurance, and other expenses that come with buying the vehicles.

The Idea of leasing an EV is widely adopted by corporations and companies that deal with large number of vehicles but doesn’t want to spend a lot on purchasing and managing them.

How Corporates Benefit from EV Leasing:

Here are the reasons why EV leasing rather than buying is more beneficial for businesses/corporates:

More affordable: Leasing can provide predictable monthly expenses. Rather than making a large upfront capital investment to buy the vehicles, companies can allocate funds monthly, making it more cost-effective.
Tax Benefits: Businesses can pay the monthly lease payments in the form of business expenses which can give them tax benefits.
Depreciation proof: The rapidly evolving technology in the EV sector might result in faster depreciation of older models. By leasing, businesses can avoid the risk associated with the declining residual value of the vehicle.

Employee retention: Companies can increase their employee’s retention rate by providing them perks like electric cars which can increase their overall productivity in a longer period of time.

How Corporate Employees can benefit from EV leasing:

Here’s how Employees can benefit from the leased vehicle given by the company:

Enhanced Job Satisfaction: Offering EV leasing can be seen as a perk, which can lead to increased job satisfaction and a sense of being valued by the employer.
Lesser running cost: The highest USP of an EV is its running cost, and if an EV owner.
Flexibility: At the end of the lease term, businesses have the option to return the EV, lease a new one, or sometimes purchase the leased vehicle. This flexibility can be advantageous as newer models with better technology and longer ranges might become available.
More Features: An electric vehicle is evident to have more EV features than compared to its ICE counterpart.
Easy to drive and quiet: Electric vehicles are easy to drive and if your company leases you an electric car there are higher chances that you’ll be more productive.

Summarizing – How EV leasing is beneficial for both:

The evolution of EV leasing has revolutionized the automotive industry, offering a flexible and economically efficient alternative to traditional car ownership. Platforms like Zecat have recognized the transformative potential of EV leasing, particularly in the corporate world, where the benefits multiply.

Not only do businesses gain from financial savings, tax advantages, and the freedom from depreciation worries, but they also have a valuable tool for boosting employee morale and retention. For employees, the perks of driving a leased EV extend beyond just transportation. They embody a sense of appreciation, the promise of cutting-edge technology, and the assurance of a sustainable future.

As the landscape of mobility continues to evolve, EV leasing stands out as a forward-thinking solution that benefits both businesses and their workforce.