Finding the best leasing deal for your business

It does not matter whether you are looking for BMW, Mercedes or a Range Rover leasing deal it has become far easier to find something suitable.

More and more firms are offering vehicle leasing services, so there is plenty of leasing deals. All you need to do is to ask the right questions to make sure that you get the right leasing deal for your business.


Fully understand the costs

Take the time to ask for a full quote that breaks all of the costs down. Only once you have this information will you be able to compare quotes. Be especially careful to ask about drive off fees, so that you understand exactly how much you will have to pay upfront.

Ask about the vehicle’s residual value

To some extent how good the deal is depends on the residual value of the vehicle you lease. Ideally, you want the value to be at least 55%. Any less and it is likely to work out to be a poor deal.

How many miles are included?

You need to understand how many miles you can drive across the period of the lease. If you exceed this limit, you will be charged a certain amount per mile. This extra cost can turn out to be significant. In most cases, you are much better off buying more miles at the start of the lease rather than buying them as you go.

How flexible is the contract?

In business, three years is a long time. A lot can change in that time, so you need to find a lease deal that offers you a reasonable level of flexibility. For example, the ability to transfer the lease could come in handy if you change your marketing methods and no longer need as big a sales team.

Ask what happens if the car gets damaged

Most leasing firms stipulate that the car has to be returned in good condition. It is really important to understand what the phrase ‘in good condition’ actually means, in reality. Ask what happens if there is a stain on the seat and a few scrapes along the bumper. Remember not all damage happens because of car crashes, which is usually covered by your car insurance. A rep can easily spill something in the boot and ruin the spare wheel cover. This is the type of damage your car insurance policy will not cover. In many cases, you will be charged to fix issues like this at the end of the lease.

Always ask about lease specials

If you are not particularly worried about exactly which vehicles your personnel drive always ask about special offers. Sometimes leasing companies have cars that have not leased out. In many cases, they will offer deep discounts to move these vehicles.

Be prepared to negotiate

The more you understand about leasing before you go out looking for a lease deal, the better. The more informed you are the easier it will be for you to negotiate and find a package that works for your company. It is also worth brushing up on your negotiating skills too. Clicking this link will help you to do that.