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What is business leasing?

Leasing essentially means renting a vehicle for an agreed amount of time and mileage for a fixed fee. If you are sourcing vehicles for a growing business, leasing can be a far more cost-effective option than purchasing outright.

Depending on your situation, there are many leasing products to choose from, and each comes with a different set of benefits and considerations for your business.

In particular, be mindful of contractual stipulations with the potential to lead to extra charges, such as excess mileage, vehicle condition on return (outside the BVRLA Fair Wear and Tear conditions), and early termination.

Key benefits of leasing

1. Easy budgeting

Stay in control with clear, predictable monthly costs and low-to-zero upfront cash investment.

2. No unexpected maintenance costs

If you choose the full maintenance option, all servicing is covered in your contract – saving you both money and administrative time.

3. Attractive to employees

They get to drive a brand new, better class of vehicle with no financial ties, no responsibility for servicing or MOTs, and low Benefit-In-Kind rates on eco-friendly models.

4. Reduced liability risk

Unlike 'grey fleets', where employees use their own vehicles for business purposes, leasing means they are all driving safe and roadworthy vehicles, helping to meet your Duty of Care obligations and reduce liability risk.

Some popular leasing solutions

Contract Hire

Get your business moving without the hassle of vehicle maintenance and lost value.

Finance Lease

Have vehicles sitting on your balance sheet with the tax benefits of Contract Hire.

Contract Purchase

Enjoy the tax and VAT benefits of leasing plus the option to buy your vehicle when your contract ends.

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