Lotte Auto Lease, Lotte Rental’s specialized financial company for commercial vehicles, has announced its 2024 Eco-Friendly Commercial Vehicle Purchase Guide. Considering the lower initial costs and maintenance savings, choosing an EV commercial vehicle lease has become more advantageous.
According to the ‘2024 Electric Vehicle Supply Business Subsidy Processing Guidelines’ announced by the Ministry of Environment last February, this year the subsidies for eco-friendly commercial vehicles will vary based on vehicle performance (fuel efficiency, driving range), with up to 11 million won for small vehicles and up to 8 million won for light vehicles. Despite the fluctuations in electric truck subsidies, by opting for a lease, which offers better price competitiveness than general purchases or financing options, customers can still use eco-friendly commercial vehicles at reasonable costs.
Operating leases include registration tax, vehicle tax, public bonds, and license plate fees, which are distributed across monthly payments, reducing the initial cost burden. Additionally, unlike financing which calculates monthly payments based on the total vehicle price, operating leases exclude residual values, allowing customers to use vehicles at relatively lower prices. If maintenance services are included, VAT refunds on monthly payments are possible. If you are a sole proprietor, you can choose user-named leases during vehicle purchases, allowing you to receive additional support for small business owners and local subsidies.
Lotte Auto Lease is offering various linked products to encourage the use of eco-friendly commercial vehicles. By using eco-friendly commercial vehicle-specific maintenance products alongside operational leases, customers can conveniently solve cumbersome vehicle management tasks such as on-site maintenance, regular vehicle inspections, tire replacements, and consumable changes.
Additionally, the exclusive charging subscription product for eco-friendly commercial vehicle customers, ‘Biz Pass’, allows for operational cost savings. Biz Pass is a subscription-type product where customers pay a fixed monthly fee and receive discounts on charging fees within a predetermined charging limit. It consists of two products: ▲ Economy (11,000 won/month) with a monthly charging limit of 400kwh ▲ Premium (39,000 won/month) with a monthly charging limit of 1,800kwh, enabling customers to choose according to their driving situations. Regardless of the plan selected, 50% discounts on charging fees are provided when using the CHAEBI fast charger. The ‘reservation’ feature allows customers to reserve CHAEBI chargers for up to 30 minutes at no additional cost. More details can be found on the Lotte Auto Lease website.
A representative from Lotte Auto Lease stated, “We offer optimal operational lease services with reasonable costs and linked products to customers considering EV commercial vehicles,” adding, “Customers can easily learn about the best options tailored to their desired vehicle type, business purpose, and contract duration through consultations with our advisors.”
Lotte Auto Lease is a subsidiary of Lotte Rental, the largest comprehensive rental company in South Korea, and specializes in automotive finance. It provides auto lease services that allow customers to choose various car purchase methods based on their lifestyles and financial situations. Focusing primarily on maintenance auto lease products, the company addresses efficient vehicle management for commercial vehicles (trucks, vans, and special vehicles). On March 6, 2024, the company was recognized as an exemplary enterprise for the ‘Korean-Type Zero-Emission Vehicle Transition 100 (K-EV100)’ and received an award from the Minister of Environment.
Contact: Lee Sang-jin daedusj@autodiary.kr