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Working as a driving instructor means that your car is not only your method of transport, it’s your livelihood. As such, finding the right car for the right price is crucial – and many believe that car leasing is the best method of car finance for driving instructors. This guide to car leasing for driving instructors will explain the pros and cons.
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Why should a driving instructor lease and not buy?
As a driving instructor, the importance of your car is magnified. You need to ensure that it is working to its maximum potential and this is where car leasing comes in. With a car leasing deal, a driving instructor can potentially change their car every six, 12, 18 or 24 months.
This reduces the risk of accidents and breakdowns, and limits the chances of having to meet unexpected garage bills for mechanical failure or damage.
You can constantly drive a new car, which is more appealing to your customers and safer and easier for you.
Buying outright by contrast will mean you face vehicle depreciation costs and you will have to find large deposits. Admittedly with leasing the car is never yours, but this is an advantage in itself because you have the option to return the vehicle at the end of the lease period and walk away, or take out a new lease if it suits you.
What are the benefits of car leasing for a driving instructor?
There are many business advantages to car leasing for driving instructors:
- Money management – You will have a fixed weekly or monthly bill to pay on your leasing costs, helping you to budget more accurately.
- Taxation – The full 100% of your leasing payment can be offset for tax purposes. In addition, VAT is reclaimable if you are registered.
- Servicing costs – By updating your vehicle regularly you should have fewer worries about accidents and breakdowns. However, many leasing companies include servicing costs as part of their contracts.
- No resale – You don’t have to worry about trying to get a good price for your high mileage vehicle when you want a new one – instead you can simply pick up a new vehicle lease if you choose at the end of your contract period.
- Short term contracts – If you are just starting out it may be useful to take out a short term lease so you are not tied down.
- Vehicle range – Depending on the leasing company you approach you should be able to find a range of vehicles. Generally smaller cars such as Vauxhall Corsas, Ford Fiestas, etc, are more popular, as they are seen as easier to drive and are more economical. However, you may be tempted by larger luxury vehicles with lower depreciation levels or hybrid cars with better economy rates.
What is included in a good car leasing deal for a driving instructor?
Be sure to mention to any leasing company you approach that you are a driving instructor and as such are likely to offer them return business. This should encourage the car leasing provider to offer additional incentives. These can include:
- Servicing costs – A service to be carried out free of charge every six months.
- Low mileage schemes – To help you reduce your monthly payments, particularly if you are working on a part-time basis.
- Specialist vehicles – A leasing company should be able to offer cars fitted out with your requirements such as dual control.
- Vehicle replacement – If your car is off the road for 48hrs or more, many leasing companies will supply a dual controlled car until your vehicle is repaired.
- Insurance – Many leasing companies will organise comprehensive car insurance as part of their service.
Search for the leading car leasing deals through ContractHireAndLeasing.com.
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