The Lowdown on Car & Van Leasing in the UK
This month we’ve been speaking to the guys at Select Vehicle Leasing who provided some tips on leasing your next car or van in the UK, as car continues to grow in popularity across the country.
Some of the reasons why car and van leasing is so popular are as follows –
If you compare leasing a car or van to buying a new vehicle, then it can be quite unbelievable at just how little money that actually need to drive off the forecourt in a new vehicle. Leasing a car or van is tremendously efficient for the cashflow situation in a business, where the business gets to keep so much more of their money relative to buying a new vehicle.
The benefits of leasing and not actually owning the vehicle are that the owner of the vehicle, normally the leasing company or the manufacturer are responsible for the maintenance of the vehicle. When you’re running a fleet, no matter whether big or small vehicle maintenance costs can soon stack up, and so the fact that you are not on the line for the costs of maintaining the vehicles can be a tremendous benefit to your organisation.
3. Rinse and Repeat
Again because you don’t own the vehicle you will not have to consider when it is the best time to sell or replace it, nor will you need to advertise and negotiate with prospective buyers. Instead when the time on your lease is up, you simply sign a new lease agreement, and step into a new car or van.
What to Watch Out For With Lease Agreements –
When you’re dealing with large leasing companies, the devil is always in the detail and so it is very important to read and to understand the terms of your agreement.
The obvious things to look at will be the deposit, the monthly payment and the term of the agreement. But other things to be wary of and to make sure that you check include how and when penalties may occur, whether the prescribed mileage will be sufficient for your intended usage, and what happens if you exceed the prescribed mileage.
As always, when dealing with car leasing agreements, it is always best to exercise caution and to go by the latin maxim “caveat emptor” or buyer beware.
The article above was contributed by Select Car & Van Leasing, who are widely recognised as one of the UK’s leading car leasing agencies. SVL have recently relaunched their website and they invite you to pay them a visit.