3 Things You Might Not Know About Fleet Leasing

Should I Purchase My Fleet Vehicles? There’s definitely a place for purchasing your fleet vehicles, but leasing them gives you freedom and cost convenience. You can get brand new cars and vans without an upfront payment, allowing for easy monthly budgeting over a fixed term of your choosing and freeing up money for other business projects. At the end of term, you can swap your vehicles for new ones and if you choose fleet management services, your convenient monthly fee will also include servicing, maintenance, roadside assistance and a 24 hour driver helpline, for peace of mind. By leasing a vehicle, there’s no need for big capital expenditure, no need to source servicing and no hassle with replacing your vehicles. Does My Company Meet The Requirements For Leasing? Yes - whether you’re looking for 1 vehicle or 3,000+, it doesn’t matter what industry you are in or what size business you are, you can lease vehicles. And, if you are a VAT registered company you can reclaim 50% of the finance payments and 100% of VAT on maintenance. Will There Be Massive Charges At The End Of Lease? With a vehicle lease you don’t own the car or van, which means there’s no final payment on the remaining value of the vehicle as there might be with a Hire Purchase agreement. Where you can accrue charges from leasing is with excess mileage and damage, but these are carefully managed. Excess mileages charges can be planned for and built into the contract, and with mileage pooling you can offset fees against vehicles that are under-mileage to reduce them. Damage charges only apply in line with the BVRLA’s Fair Wear and Tear guidelines, showing that it’s not expected you will return the vehicle in the pristine condition it’s delivered in. Our team proactively sign off every repair to guard against unfair claims, and our unique R.E.D. Contract Hire guarantees no end of damage contract damage for hardworking commercial fleets.