The best company cars | Top picks for 2024
As the landscape of company cars continues to evolve, it's crucial for businesses to stay ahead of the curve. So just what are the best company cars of 2024? The company car market has changed drastically over the last few years.
Where once a great business vehicle would have a frugal diesel engine, the most desirable now feature clever petrol-hybrid tech or all-electric drivetrains.
This is because it’s essential that a company car has a low Benefit in Kind tax rate (BIK). BIK rates range from just 2% on zero-emission vehicles, right up to 37% for higher polluting models.
In this guide, we'll explore the top picks for 2024, looking at some of the finest EVs and PHEVs which attract the lower BiK rates. Which cars make the list?
Best electric company cars
Electric cars benefit from the most lucrative BiK rates, with the 2024 rate set at 2%. It’s frozen at this level until at least the 2025/26 tax year, when it is set to increase to 3%. You can read more about BiK rates and how they work in our dedicated guide.
Lotus Eletre (2% BiK)
If you’re after a company car with a bit of flair – for an unbeatable price – a Lotus Eletre business lease makes perfect sense. It’s the latest product from the iconic UK-based manufacturer, and is a great alternative to cars like the Porsche Taycan.
Offering all the performance you’d expect from such a marque, it blends modern SUV practicalities with all the qualities Lotus is renowned for: sharp handling, an engaging drive and fantastic body control. The best part? Business leases currently start for less than £600 per month.
Compare Lotus Eletre lease deals
BMW iX (2% BiK)
The BMW iX was officially named as our Best Business Lease Car in the recent Leasing.com Awards. For starters, it blends innovative design with intuitive tech, making it a perfect luxury cruiser for long motorway miles.
Two battery options are offered, with the potent xDrive50 pumping out 523hp and offering up to 383 miles of range – a really impressive figure that puts the iX up there with the most usable EVs when it comes to long distance travel.
Tesla Model Y (2% BiK)
The Tesla Model Y has recently been topping the trending charts on Leasing.com, and it’s easy to see why. Attractive pricing, a practical cabin, tonnes of boot space and the razor-sharp looks all add to the Tesla’s appeal. As such, it got our vote as the Best Electric Vehicle in the recent Leasing.com Awards.
For company car drivers, there’s more good news; as an EV, it benefits from the lowest BIK rates. While these have recently increased from zero, for 2023/24 the rate is set at just 2%. Thanks to Tesla’s Supercharger network and an estimated 330-mile range, the Model Y should cope with life on the road just fine.
Compare Tesla Model Y lease deals
Volkswagen ID.4 (2% BiK)
The Volkswagen ID.4 is the larger, more practical SUV sibling of the ID.3. With a spacious interior and impressive range capabilities, it offers business users the perfect EV whether you’re commuting in urban environments or travelling longer distances on the motorway.
With intuitive controls and a stunning infotainment system, the ID.4 also features the very latest advanced safety features and connectivity options. With that low 2% BiK rate, it’s one of our go-to company cars for 2024.
Compare Volkswagen ID.4 lease deals
Vauxhall Corsa E (2% BiK)
The Corsa-E has been making a splash on Leasing.com in recent years, particularly for those after a business deal. It’s the perfect company car for those that want an exceptionally low BiK rate and equally affordable monthly payments.
Its 54kWh battery offers enough range for most, with a theoretical range of 222 miles. High levels of kit come as standard across the range too, and thanks to its compact size and hatchback dimensions, this an an electric vehicle that’s fun to drive, too.
Compare Vauxhall Corsa E lease deals
Kia EV6 (2% BiK)
The stunning Kia EV6 is arguably one of the best company car choices for 2024. Its technology is as cutting-edge as its looks suggest, and features a clever 800V charging system. This means you can complete a 10% to 80% recharge in less than 20 minutes – perfect for EV drivers covering lots of miles.
Its 77.4kWh battery provides upwards of 300 miles of range, while the screen-laden interior is a truly impressive place to sit. Like all EVs, you’ll get the lowest BiK rate of just 2% for 2024/25.
Ford Mustang Mach-E (2% BiK)
The Mustang Mach-E perfectly blends an icon of the past with Ford’s sustainable goals of the future. Aside from looking the part, the Mach-E’s interior features one of the best touchscreens in the business.
It’s also the only car currently available that offers true semi-autonomous tech in the form of Ford’s Blue Cruise hands-free system. With the lowest BiK rate and surprisingly affordable monthly payments, you might be surprised just how little you’ll have to spend to have this stallion on your driveway.
Compare Ford Mustang Mach-E lease deals
Best plug-in hybrid company cars
Despite slightly higher BiK rates, plug-in hybrids still attract significantly reduced rates compared with petrol and diesel models. They vary from 5% up to 14%. Below is a list of some of the best available in 2024.
Range Rover Sport P460e (5% BiK)
If you’re after a truly premium product, you can’t beat Land Rover products as company vehicles. The slightly more compact Range Rover Sport is often overlooked compared with its larger sibling, but it’s still a really great option – and not necessarily as expensive to run as you might think.
For starters, the P460e plug-in hybrid variant attracts just 5% when it comes to the BiK tax, while its 40kWh battery pack gives a theoretical electric range of 70 miles. To top it all off, it supports 50kW rapid charging too.
Compare Range Rover Sport lease deals
Vauxhall Astra PHEV (8% BiK)
The new Astra has to be one of the automotive industry’s best ever glow-ups. Quality-wise, the entire range is now on par with much more expensive rivals, while borrowing its platform from Peugeot ensures this is a fun-to-drive car. Business users might also appreciate the spacious estate variant.
But where it really shines through as a company car is as a PHEV. The plug-in variant can muster more than 40 miles of electric-only power, which puts it squarely in the 8% benefit-in-kind tax range.
Compare Vauxhall Astra lease deals
BMW X1 25e (8% BiK)
Capable of driving around 50 miles on electric power alone, the 25e version of BMW’s recently refreshed X1 makes a practical proposition. It’s a smart-looking crossover that’s compact enough to make sense around town, while also being serenely quiet out on the open road.
In 25e form, you get BMW’s excellent xDrive four-wheel drive system and, as well as reduced fuel costs, you’ll be able to take advantage of the 8% BiK rate too.
Skoda Octavia iV (8% BiK)
In terms of value for money, the Octavia iV is one of the most affordable company cars – to both lease and to run. The Skoda Octavia is a spacious hatchback that’s well known for providing comfortable and practical transportation. If you need even more space, the Estate might be a better bet.
Most models feature things like a 10in infotainment system, smartphone mirroring, LED headlights and parking sensors as standard. The plug-in hybrid iV model can travel around 40 miles on electric power alone, putting it firmly in the attractive 8% BiK rate band.
Compare Skoda Octavia lease deals
Volvo V60 Recharge (8% BiK)
Volvos have long been a favourite with company car drivers, and the brand’s estates in particular still stand out as some of the best in the market. While Volvo has confirmed that it will stop making estates and saloons for the UK market, the V60 remains available and the T6 Recharge emits less than 20g/km of CO2.
This means it slips into the very affordable 8% BIK rate for 2023/24. The interior manages to be luxurious yet understated – something the Swedish brand has been doing consistently well for years. The infotainment system features a stunning portrait touchscreen which is easier to use than other premium brands. If you’re after an understated, quality company car, the V60 is one of the best options.
Can’t see what you want?
The cars on this list are just a small selection of vehicles that feature attractive tax rates and the latest tech. If you can’t see something you like, you can jump straight into comparing lease deals from dozens of manufacturers by hitting one of the buttons below.
