For most companies, the purchasing of company vehicles is simply considered a necessary evil. However, there is another option available. More and more companies across the UK are realising that leasing your business cars instead of buying can offer various advantages that a company can benefit from.
Do not worry about depreciation
This is a fact that nearly everyone knows nowadays, cars depreciate in value. This means that as a business if you were to buy your company cars, you shall never get your investment back, and have a depreciating asset on your books.
Fixed Monthly Costs
One of the main benefits of leasing your company cars over buying is that the monthly payments are lower, as well as being fixed for the duration of the term allowing your business to better budget for the expenditure.
Do not worry about Maintenance Costs
As your company fleet increases, as does your overall cost to maintain the fleet through servicing and repairs. However the car manufacturer’s warranty will typically cover the whole period of the lease, ensuring that any issues that do arise can be taken care of without any additional expense.
You can also add a servicing contract that will cover the costs of such things as servicing and tyres which are regular expenses for businesses that utilise vehicles as a primary part of their business.
Lower Investment Outlay
When it comes to purchasing your company cars, it can require a significant investment. This is not the case when it comes to leasing your business fleet as your initial deposit is usually significantly smaller.
On average, car leases are only arranged for a fixed, short period of time, allowing companies to upgrade their fleet on a more regular basis. This allows you to keep your fleet up to date with the latest cars that are taking advantage of the latest technology available and fuel efficient features.