What Is Car Lease Finance Option?

What Is Car Lease Finance Option?

Blog / What Is Car Lease Finance Option?

21/10/2019

There are a variety of different finance plan options for customers when it comes to cars, but it is also worth considering what the primary usage of the vehicle will be for. If it is for work purposes, and if it is essentially going to serve as a car for the business, then you may wish to consider exploring the possibility of a car lease finance plan.

To summarise it briefly, the car lease finance option means that the vehicle will essentially be offered to the business itself rather than you personally, and it will be a long-term hire as opposed to a purchase. You and your business will be covering the monthly costs as per a traditional finance plan, but it will always remain in the hands of the provider when it comes to full ownership. It also means that once the plan comes to an end, unless you trigger a new leasing option, the car will then be hired to somebody else, since it remains the property of the provider.

For a company, this can prove useful for a large workforce where the employees simply need a model to get them to and from destinations, meaning that there will be little emotional attachment to the car itself, thus making it easier to move on when the plan comes to an end. What’s more, the business can offset the cost of a car that is being leased much easier than an employee could, since it would have sufficient funds in place from its regular turnover to manage the payments of one or even a multitude of cars on a leasing plan.

In addition, even if you are the business manager (and ultimately the leasing would have to be approved by the higher-ups in a company), you may find that it is more financially sustainable to rely on the company car for a two- or three-year period, based on this leasing option, than to go out and purchase a vehicle for yourself. We go back to our first point about what the intention is to have a car in the first place; if you are planning to use it solely for work-related journeys, with very limited or non-existent plans for use outside of the business, then this might just be the best option to take. This is assuming, of course, that either you have the responsibility to make such a decision, or that the managers in your organisation would be both willing to trigger such a plan on your behalf and have the company funds in place to justify this and any other leasing deal for employees.

For personal lease options you can contact our sales team.

When you’re ready for your next purchase, contact our Cheshire based team who will happily assist you with our most attractive finance offers on some of the most sort after car brands, visit the links below:

So, these are just some of the reasons why we are considered a leading car finance specialist, but you can learn more by contacting our vehicle financing team here or if you just want to browse our stock page first, feel free. For an instant No Obligation quoteApply today or Call us on 01925 230360.



Back to blogs