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Pick Up Lease
There is no escaping the tough, monster-like connotations that come with a pickup truck, it’s tough exterior has given it the reputation of a vehicle that can only carry heavy loads across varying terrains – until now.
Manufacturers are beginning to glamourise the once off-road only vehicle used for its practicality rather than its aesthetic. Luxuries you would find in an executive car, such as infotainment systems and touchscreen controls are now being installed in the humble pickup truck and the demand for a pickup truck lease is booming, but for what reason?
Well, businesses are finding their tax efficiency incredibly attractive.
Tax efficient pickup trucks
This desire driven by tax efficiency means manufacturers are making pickup trucks even more attractive for personal use by business owners and employees. Consequently, they are getting a pickup truck lease and claiming it as a business expense. If you are an employee of a company, rather than a business owner, you will also profit from the fixed benefit in kind rate that comes with a pickup truck lease.
On a company car, benefit in kind rates are usually charged as a percentage of the vehicles purchase price and that percentage is linked to CO2 emissions, so if you have an engine that produces a lot of pollution, you will be charged a steep sum. However, pickup trucks have a fixed benefit in kind rate that is based on your tax bracket, so you don’t have to worry about any surprising costs.
If you do acquire a pickup truck on lease through the business, it wouldn’t be classed as a pool car, so you can take it home with you without the risk of being fined. Hence why the pickup trucks are equipped with comfy seats and entertainment ports, so you can enjoy driving them in your leisure time and not just for business purposes.
How do you go about a pickup truck lease?
In order to be classed as a Light Commercial Vehicle and therefore, be tax efficient, the pickup truck must only have a payload of at least 1 tonne and be a double cab. All the big 4X4 pickups made by leading manufacturers are designed to adhere to HMRC’s terms on payload thresholds and you can look into the market leaders below.
Pickup trucks that would qualify for a pickup truck lease:
As a first ever from fiat professional, this one-tonne pickup was launched in 2016 and is inspired by the design of the Mitsubishi L200. It comes with the same driveline, chassis and engine as the Mitsubishi and is comfortable, spacious and easy to use. The Fiat Fullback is a good choice if you do not need a large load area and only need above average towing capacity. As well as all of this, it has a noiseless engine and is fuel efficient.
2019 Ford Ranger
The Ford Ranger has a muscular and stylish aesthetic and is designed for long road adventures through weather conditions spanning all extremes. Originally launched in 2015; it has the newest infotainment and safety features that users can enjoy. As well as this, it has driver-assist technologies to improve overall driving experience – making your road adventures all the more fun. Want to stay connected while you’re on the move? The FordPass connect feature lets you create a wifi hotspot inside the vehicle and can pair up to 10 devices.
Mercedes X Class
The Mercedes X class is everything a pickup should be – reliable and tough. It is a midsize pickup designed for long distance travel and it has a touch responsive COMAND infotainment system, HVAC controls and a central screen. To ensure optimum comfort, the rear seat bottom has been elevated. Its fuel efficiency is another one of its many bonuses. The X Class is a true Mercedes creation that boasts sophistication and practicality.
If you’re looking for a pickup with a good price tag, then the classic Mitsubishi L200 is a great option. It comes with three cab styles and has the option of 2, 4 or 5 seats making it incredibly versatile. The towing capacity is good and it can transport 1 tonne of cargo in the load bay as well as 2-3 more tonnes after it. The infotainment is not its star feature, but it is entry level and has bluetooth connectivity and USB input.
The Nissan Navara has a playful and bold appearance, with good off-road capabilities creating a solid performance on any terrain that you travel on. The firm five-link rear suspension gives it comfort and composure while on the roads, which is conveyed right through to the driver. Its comfort is maximised by reduced noise, vibration and harshness levels, making the Navara an ultimate joy to drive.
A pickup truck lease is now incredibly sought after and their new, more sophisticated image combined with their tax efficiency makes them all the more desirable for your eyes and your bank balance.