Considering updating your company car fleet? Have you thought about purchasing a 4×4? It will take you to work in style; plus, it is a more tax-efficient decision according to vehicle lifecycle experts cap hpi.
For drivers considering switching their company car for tax reasons, new insight from automotive data experts cap hpi, shows lifestyle 4×4 vehicles present an increasingly popular tax-efficient purchase.
In the light commercial vehicle (LCV) sector, registrations of new 4×4 lifestyle vehicles have increased year on year for the past ten years, more than doubling from 7.24% in 2010 to 15.02% so far in 2019. Last year 13.67% of all LCVs sold were 4×4 lifestyle.
The volume of new 4 x 4 lifestyle registrations means it is now the third-largest sector across the entire LCV range for registrations in 2019 so far, behind medium vans (40.5%) and large vans (20.2%).
Lifestyle 4×4 vehicles typically have a specification as high as passenger vehicles as well as boasting practicality and versatility benefits that come with having a massive load bay.
Some of the latest double-cab trucks have impressively spacious cabins and even rear seats, while the improved safety and rugged styling also prove attractive. Towing capabilities and off-roading capability mean they are popular with lovers of the great outdoors too.
But it’s the range of tax benefits that can executives gain by choosing a lifestyle 4×4 as a company that makes them a disproportionately cheap alternative to a conventional SUV or another choice of the company car.
Speed limits with 4×4 lifestyle vehicles differ from model to model and on some models vary according to trim level. The increased mass of some newer pickups means they are too heavy to be classed as ‘dual-purpose’ vehicles and are therefore subject to standard light commercial vehicle speed limits – which are 10mph slower on single and dual-carriageways.
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