Whether a start-up business or a national organisation, keeping costs down and maximising efficiency are essential driving forces for success. However, many companies are not fully aware of the cost benefits and advantages of leasing vehicles as opposed to purchasing them. Equally, business owners using their personal car, or allowing their employees to use their own vehicles for work purposes, may be missing out on the minimised costs and other numerous benefits of contract hire and exposing themselves to duty of care risks.

We thought it would be helpful to share some more information on leasing so that you can decide on the best option for your business motoring.

What is Business Vehicle Leasing?

Vehicle leasing gives businesses the opportunity to rent a company vehicle through fixed monthly payments, for a period of time, this can be set or flexible depending in the business needs. Rental can be permitted for a single vehicle user to a fleet of multiple vehicles for larger companies, and can include maintenance and services. At the end of a lease contract, businesses return the company vehicles and can take out another contract for new vehicles if required.

The long-term expenses of business vehicle leasing are cheaper than ownership because, provided that a vehicle is used solely for business purposes, there are tax advantages. Even employees using a salary sacrifice scheme can take advantage of the VAT benefits of vehicle rental. If you are a business owner, the costs and time spent running and replacing purchased vehicles will be reduced through contract hire, as this can be managed for you. Over time purchased vehicles will also depreciate in value. It’s therefore a wiser tactic to lower expenses and cut down time with a managed vehicle leasing service, leaving you to concentrate on the overall running of your business operations.

As well as the cost associated benefits of vehicle leasing for businesses, there are a number of additional advantages:

• Vehicles can be kept relatively new, which promotes a positive and professional image for a company whilst taking advantage of the latest vehicle technologies
• It is easy to select the exact requirements for different vehicles and ensure these are serviced and maintained accordingly
• The cost per month of leasing can be significantly cheaper than a monthly spend on loan payments
• Acquiring a new vehicle is hassle free as there is no need to organise or negotiate a sale of the used vehicle
• The road fund licence is included in the first year of the lease contract and often for the whole contract period

What Can GKL Offer Your Business?

As a well-established vehicle leasing company, we have built up the knowledge, experience and reliable range of vehicles to meet your exact business needs. GKL not only offer finance solutions for businesses at any stage, we manage our customers’ vehicles for optimal use and business efficiency. From new business leasing and eco performance vehicles to fleet leasing and management, there are many reasons why GKL is known nationwide as a leading provider of vehicle business leasing services:

• We offer most makes and models as standard, but ensure we can match your exact specifications
• You’ll receive national coverage with a local personal contact
• Our fixed monthly contract costs allow you to free up working capital and budget easily
• GKL’s flexible and adaptable contracts come with generous terms for early terminations
• We cater for businesses of any size, and can provide finance for start-up businesses where other suppliers will not
• There are no vehicle disposal costs
• Businesses can have access to the GKL Fleet Management system for ease of operation
• MOT and Breakdown is covered; we also include RFL and servicing, unless otherwise agreed
• We have unique underwriting criteria and knowledge of all aspects of the marketplace
• GKL are leaders for leasing to foreign owned businesses trading in the UK

If you’re interested in vehicle leasing for your business and would like to find out more about our range of services, book your free consultation or contact us on 01246 572180.