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Used Car Lease as an extra asset

A used car as a lease vehicle? How do companies themselves experience this new solution? We take coffee break with Bart Vandeloo, partner and tax lawyer at Fineko, an Alphabet customer since early 2018.

What does your corporate mobility look like right now

Bart Vandeloo: “Our employees are currently using a fleet of around 30 lease vehicles,” says Bart Vandeloo, partner and tax lawyer at Fineko. “These vehicles aren’t there solely for practical reasons – our employees regularly go on customer visits – they are also primarily a part of the salary package. So, they’re there to attract new talent and naturally, to ensure that the grass is always greener on our side.”

Why have you turned control of your fleet over to a leasing partner?
“Our business is all about accounting and taxes. That’s where our expertise lies and that’s where we want to keep our focus too. Continuous management of a fleet costs time and energy. That’s why we entrust this to a partner who can support us in this regard and provide us with the necessary service.”

You are currently reviewing your car policy, right?
“That’s correct; together with Alphabet, we are studying how we can expand our car policy as a part of the new cafeteria plan. We’re not counting all our chicks before they hatch, but we are convinced that there is room for a more flexible approach.”

What could this look like?
“Our offices are in regions that are not (yet) totally jammed with traffic. Our employees’ commutes are still fairly easy for the time being, which is a great asset. But naturally, the pressure is increasing. That’s why we are looking to see if we can include (electric) bicycles in our plan, for instance, because 95% of our employees currently drive their cars to work. In addition to alternative modes of transportation, the idea to utilise used cars as lease vehicles is also on the table. We don’t see this as a complete replacement of our current fleet per se, but rather as a supplement to it.”

How will you benefit?

“Definitely in terms of the price tag. Although the vehicle may not be brand-new anymore, it’s still attractively priced and I think that our employees can see the benefits here. Where a brand-new vehicle might not fit into the mobility budget, this same model as a young used car may very well fit into the budget. In addition to this, you could also utilise used cars to reward employees who are currently not entitled to a company car.”

“In addition to the price tag and a new way to reward our employees, I also think that another interesting possibility is a short lease period. The rules of the tax game change constantly. A short lease period allows you to quickly adapt to the fiscal reality. The same goes for developments being made in combustion engines versus electric engines. Naturally, you have to consider CO2 emissions. These are all developments for which used car leasing could provide an interesting solution.”

What is Fineko?

  • medium-sized player on the accountant, tax consultant, and lawyer market.
  • The company has been around for 22 years and has offices in Genk and Kessel-Lo.
  • Fineko employs a total of 65 people.

Looking for more information on Used Car Leasing? Download the whitepaper or contact us!

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