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Leasing & Finance

Brokers more important than ever in business leasing – Global Vehicle Group

It said that changes to electrification, tax, funding, compliance and salary sacrifice have made fleet decision making harder.

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Global Vehicle Group said that brokers are more important than ever in business leasing, due to the growing complexity of the market.

It said that changes to electrification, tax, funding, compliance and salary sacrifice have made fleet decision making harder, with brokers being able to assist with independent guidance.

The role of the broker was especially important with SMEs, as they often lack the internal fleet expertise of large corporates.

Global Vehicle Group said that vehicle choice is now a wider operational, financial and HR decision, especially due to electric vehicle (EV) adoption and the growth of salary sacrifice.

This has involved HR, as well as finance and sustainability teams, in making vehicle decisions, meaning brokers need to offer business leasing customer greater support.

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Andrew Hurst (pictured), group CEO at Global Vehicle Group, said: “More choice in the market has not necessarily made life easier for business customers.

“In many cases, it has made decision-making harder. Businesses are having to weigh up not just vehicle availability and cost, but also tax treatment, electrification, funding structures, driver needs and longer-term risk.

“That is exactly why brokers are more relevant than ever.

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“The value of a broker today is not simply access to vehicles. It is the ability to provide independent guidance, bring together the right funding and supply options, and help customers make decisions that are genuinely right for their business.

“In a more complex market, that independence matters.

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“For many businesses, vehicles are no longer just an operational issue. They can affect recruitment, retention, sustainability strategy, cashflow and compliance.

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“That means the customer need has changed. Businesses want a partner who understands the bigger picture, not just someone who can quote a monthly rental.”

Global Vehicle Group cited the commercial vehicle market as an example where brokers play an invaluable role, as downtime and availability are often more important to businesses than headline prices.

Hurst said: “In commercial vehicles especially, the cheapest option is not always the best if it does not meet the operational need or cannot be delivered quickly enough.

“Businesses want value, but they also want uptime, speed and confidence. The right broker helps balance all of those things.

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“The leasing and fleet market is only getting more complex, not less. That is why we believe the role of the broker will continue to grow in importance.

“The businesses that succeed will be the ones that combine independence, expertise, technology and strong customer support to make that complexity easier to manage.”

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