- Daniel Jones
Vehicle Leasing Explained Simply
Vehicle leasing is becoming a more popular option than ever, with private consumers and businesses alike taking notice of the numerous benefits that it can offer. In this article we explain car leasing in the simplest of terms and explore just some of the benefits it could offer you.
What is vehicle leasing?
In its simplest of forms, leasing a vehicle is a lot like a long-term vehicle rental. When you lease a vehicle, you drive a brand-new car for an agreed period. In exchange for the use of the vehicle, the customer pays fixed monthly payments for the duration of the contract.
What are the benefits of leasing?
Vehicle leasing is one of the most cost-effective ways to drive a brand-new car or LCV. As is commonly known, the second you drive a vehicle off the forecourt it begins to lose value. However, when you lease a vehicle you avoid the cost and risk of depreciation as this is taken on by the vehicle funder.
When your lease is ending, you can simply hand back the keys to the vehicle without having to go through the hassle or disappointment of second-hand resale. From there you are free to lease another brand-new vehicle, and benefit from the latest specification.
Many personal and business customers also appreciate the added peace of mind that leasing offers, with full manufacturer’s warranty included for the duration of the contract.
What are the benefits to my business?
Vehicle leasing offers several benefits that make it an attractive option to your business. With a low initial outlay, fixed monthly payments and VAT benefits – you can improve your cash flow and avoid depreciation.
All lease contracts also have the option to include maintenance, potentially saving your business even more whilst reducing the risk of any nasty surprises.
Bridle Vehicle Leasing is part of the Bridle group of companies, providing vehicle leasing, fleet management, and insurance services to companies and private individuals across the UK. If you have any questions about vehicle leasing please do not hesitate to get in touch!