Luxury Car Leasing continues to grow in the EV world

The EV world - Luxury Car Leasing continues to grow

In the last couple of weeks, the UK's automotive industry has incurred some more negative news and media stories questioning the electric car transition - is it working? how will manufacturers survive in the new environment? As we have extensively covered, there are more talking points to the conjecture and these need to be covered in-line with the positives surrounding the UK motor industry.

In particular, the level of BEV registrations is increasing (not quite to the levels of the ZEV Mandate) and used-EVs are now really making in-roads. Yet in another sector, luxury and performance vehicles, we are now witnessing some resounding results.

Enquiries for more luxury brands are up at e-car lease; the Mercedes G Class EV, Porsche Macan, Mercedes GLC EV and the Maserati Grecale Folgore are increasing. Many of these vehicles cost north of £100,000; in some cases we are supplying businesses with £150,000 all-electric cars.

If something can demonstrate confidence and support, then a business investing 6 figures into a vehicle is testament to where the UK is heading. We have seen all sorts of businesses enjoying luxury EVs - doctors, dentists, lawyers, engineers and music professions are adopting this type of car as their fleet vehicle of choice for 2026 and beyond.

One of our hotelier and gym proprietor customers recently took delivery of their all-electric Maserati SUV, which we have pictured and detailed below. Why did they elect to go into an EV as opposed to the petrol format?

In brief, the financial and tax rationale behind zero-emission transportation, makes the decision an almost no-brainer. For the company (or employer), a BEV lease / purchase presents significant tax savings compared to a petrol or diesel one.

When you purchase (cash, hire purchase or contract purchase), because an electric car emits no CO2, you can offset the full price / value of the vehicle. For contract hire (lease) or finance lease, you can offset the entire rentals against Corporation Tax, with no limit placed on this reclamation. With up to 50% of the VAT reclaimable on the finance, or 100% if a pool car, along with 100% of the VAT reclaimable on service and maintenance packages, the agreement soon becomes a cost-effective and financially sage one.

If you go into more polluting and CO2 heavy performance and luxury cars, these benefits soon dissipate. For more profitable companies, offsetting the 25% Corporation Tax exposure is now a worthwhile one, especially when withdrawing money out of your company will incur significant income tax for the business owners.

For the end user (driver) - director and/or employee - there are some equally amazing benefits. Having a car provided and paid for by your company is a credible benefit, but this isn't strictly free and without consequence.

While the company can reduce corporation tax, because of the benefit to the employee the HMRC team will need to assess and apply a tax via P11d assessments. The "company car tax" is applied to address this situation and essentially utilises the vehicle value, vehicle emissions and the end user (employee) income tax threshold to apply the relevant BiK (benefit in kind) tax.

As EVs emit no CO2 from their tailpipe, the level of BiK is significantly reduced compared to a combustion option. In some cases, where the vehicle value and emissions are so high, if you were to use the company to provide the car, the level of tax you would pay (BiK) would outweigh the vehicle rental. This is why so many business owners and proprietors will purchase luxury and performance cars with personal funds rather than the company funds for combustion vehicles.

However, EVs are more than just a great tax saver. When you consider "fuel" this also preys on the benefits of electric. Any charge points you install are completely tax deductible under full expensing rules. Essentially you can install charge points at the business premises and employees’ house and write-off the full amount against Corporation Tax.

When you consider that electricity is much cheaper than petrol or diesel, especially for domestic rates with a supported overnight tariff, the cost of running the vehicle reduces. For cars like Ferrari, Lamborghini and Maserati, heading to a petrol station will cost you £100 - £200 for a top-up. With a luxury EV, this will be more like £20 - £40, depending on where you charge.

Also, because HMRC does not consider that electricity is to be considered a fuel for tax reasons, the company / employer can pay for the fuel without any tax implications for the employee. For those in combustion vehicles with a fuel card, they will be incurring some sizeable tax bills under private fuel benefit.

Before we completely convince you on the pros, the utilisation of EVs also helps on the maintenance and servicing aspects too. With longer servicing schedules, and less moving parts, it is somewhat apparent that your luxury EV is going to cost far less to service and maintain compared to the combustion equivalent.

This is particularly relevant with performance and luxury cars, where combustion formats often dictate interim and full services on a regular basis. This is where many customers are ultimately caught out, in that the price of the more elite cars is only one cost; servicing, maintaining, insuring and fuelling the vehicles are a completely separate endeavour. So, if logic doesn't completely appeal to you, maybe the overview and images of this Maserati will!

In terms of the car shown the amazing Maserati GRECALE ELECTRIC ESTATE 410kW Folgore 105kWh 5dr Auto (Pure Electric Vehicle), this is based on the following configuration:

•  Blu Modena Special Metallic Paint
•  Full premium leather with chevron stitching - Dark red
•  High gloss piano black wood trim for selected interior details - Fuoriserie
•  20" Nembo aero design alloy wheels staggered with summer A class tyres
• Brake callipers painted in red
•  Electric panoramic sunroof
•  Heated leather steering wheel
•  Rear privacy glass 

How does the 2026 Maserati Grecale SUV perform? 

•  This AWD SUV will have a 98.6 kWh usable battery which will offer 0 – 62 times of 4.1 seconds, 137 mph top speeds and 410kW (or 550hp). Expect a combined winter range of 240 miles with warmer weather allowing for 315 miles – a 275 mile combined. On charging, the 22 kW AC max will allow 5 hour and 30 min 0 – 100% charging times with the 150 kW DC maximum allowing 40 minute 10 – 80% times. A cargo volume of 535L is available with this car. It has a vehicle fuel equivalent of 113 mpg. You can tow with this EV - 750kg (Unbraked) and 1800kg (Braked). The heat pump is standard on this EV. It also has no V2L or V2G capabilities (so far). 

Want to know more about going into the Maserati (or another luxury EV)?

Head to our dedicated Maserati special offers section  or speak to our experts directly on 01942 910 001 or by emailing us at [email protected]