The UK is seeing a growing interest in leasing for businesses, especially for those who are looking to obtain new vehicles at affordable prices. You can get the transportation you need by leasing a few cars or a fleet.
The company car was a symbol of success in a business. They were used for both business and pleasure, and they were grand, shining symbols of success that sat in your driveway. It’s rare to see company cars these days and even less so if they are grand and shiny. The focus now is on cars that are economical and efficient, saving companies money and setting up a good brand image.
What are the options for a small company that may only need 2 or 3 vehicles? You can either lease or buy these vehicles. In today’s economic climate, leasing can be a great way to save money for your business. For Van Leasing Bristol, go to www.autolyne.co.uk/van-leasing-near-me/bristol
What is leasing? It’s a way to get a brand new vehicle, usually with a higher specification, than you would be able to afford. Leasing is a concept where you rent the car for the duration of the lease. At the end, you hand it over to the leasing company. The latest vehicle can then be leased for another term.
You can therefore see why businesses would be interested in this option. Businesses will pay a fee based on the value of their car and CO2 emissions. A monthly fee for each car is much easier to manage. You can add extras to the contract, such as maintenance packages.
The maintenance elements are appealing because they reduce the costs and the hassle of maintaining the vehicle. Included are annual servicing, tyre replacements, and breakdown assistance. These things would be very expensive on their own. The cost of this package is dependent on the value of your car, but it offers peace of mind. It can be added to your monthly payment.
Tax benefits are also possible. Businesses that lease cars and return them at the end are considered to have an “operating lease”. A ‘benefit in kind’ payment could allow your business to claim tax back for the duration of the lease. The Income Tax or National Insurance will pay you a benefit-in-kind payment. This can be cheaper than driving a personal car for business and claiming mileage.