Business Car Leasing Guide
The idea of leasing a vehicle solely for business purposes has evolved to become the norm in the UK over recent years.
Seeing a car plummet in value to the tune of thousands of pounds is clearly out-of-touch with today’s business climate and has soured the concept of owning a vehicle outright.
Although the prospect of paying for something you will never actually own may seem like a bitter pill, the subsequent advantages far outweigh the downsides.
One of the major plus-points of business car leasing is that you can pull-off in a vehicle that would typically sit outside of your price range if you were to buy it outright.
Monthly repayments are still part of the deal but when compared to repayments on a car loan, these can be up to 55% cheaper. Also, in a large number of lease agreements, only a small initial payment is necessary, usually amounting to three monthly payments.
The car manufacturer warranty will normally cover the period of the lease and maintenance costs can also be included. Vehicle Excise Duty, or ‘road tax’ as you may know it, is also typically tied-in with the lease agreement.
There are further financial incentives in that by driving a brand new car every two to four years, you’ll enjoy stronger fuel economy and better performance found on newer models, not to mention the latest safety features, boosting the company’s duty of care. All in all, it makes perfect business sense.
How do you actually go about business car leasing?
Anyone familiar with any form of leasing will notice that the process of leasing a vehicle has many similarities.
Preparation is key so research the market thoroughly and draw up a shortlist of models that would suit your needs, bearing in mind things like company car tax and fuel efficiency. Also, does the car send out the right image your business wants to portray?
Once you’re armed with a list of suitable candidates, decide how long you want to lease the vehicle for; that can be anything from one year to 60 months. Also, work out how many miles a year you’ll be doing in the vehicle. It’s worth allowing a bit of breathing room to avoid excess mileage charges.
Then you’re ready to browse leasing deals at ContractHireAndLeasing.com. It shouldn’t take too long before you find a deal which suits and once you have, contact the company providing the deal.
Many providers are happy to tailor and fine-tune their deals so if there’s something you want to amend, give ask.
At the end of the lease term, you simply return the vehicle to the car leasing company and that’s it. In some cases, you may be given the option to buy the car or you could swap it for a newer model. Alternatively, there’s nothing stopping you from simply walking away.
Where do I go to lease a business car?
The ideal place is ContractHireAndLeasing.com, which advertises more than two million up-to-date car leasing deals, including business car leasing – allowing the business car driver to compare contract hire deals from the whole UK market.