More people are expected to enjoy the benefits of van and car leasing as new legislation comes into effect in the new year.
The British Vehicle Rental and Leasing Association (BVRLA) believes the alteration of the rules regarding the London Low Emission Zone (LEZ) will see more businesses choose to lease their vehicles.
Many fleet managers who operate in and around the capital will have already made the required changes, but some people could be caught unaware, stated the group.
Drivers who own older vans and minibuses will be charged when entering much of greater London and the group states that many will consider it more financially prudent to hire newer vehicles out for the time it takes them to fulfil their commitments.
“It might not make economic sense for them to buy a new vehicle or spend thousands of pounds on fitting a filter because of one or two trips to London, but they could hire a modern, Low Emission Zone-compliant van or truck for a fraction of the cost of paying the LEZ fee,” said John Lewis, chief executive of the BVRLA.
According to Transport for London, there are around 72,000 light commercial vehicles in the UK that could be subjected to the new charge.
Drivers with vehicles which fail to meet the Euro 3 standard who enter the LEZ will receive a daily charge of £100 and if it is not paid the financial penalties become more severe as they are hit with a £500 fine.
All vans registered new after January 1st 2002 will meet these new standards.
The BVRLA recently revealed that van and car leasing has further advantages for motorists and businesses.
Its research found that carbon dioxide emissions of rented fleets were 12 per cent lower than the UK average and the vehicles were better maintained than privately-owned versions.
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