Latest Leasing News
Rates rise on existing orders as higher interest bites
AFP’s view is very much that this is being driven by financial factors that are completely out of the hands of the leasing suppliers involved but it does create problems that are not just about having to pay higher costs. For example, the increases may move vehicles between company car bands or mean that the lease rate exceeds employee entitlements
CBVC raises the standard in leasing customer satisfaction
Platform independently monitors the driver journey and experience, providing feedback that loops back into a continuous improvement process. Using advanced sentiment analytics, the platform highlights areas of success and where service levels can be improved and provides CBVC Vehicle Management with a Net Promoter Score (NPS) which demonstrates how likely customers are to recommend the service.
Fleet managers urged to seek flexible leasing
The combination of high inflation, rising interest rates and the energy crisis are forecast to impact economic activity at the end of the year significantly. The recession is expected to last five quarters before a period of weak growth that will last until 2025. SOGO mobility is calling for fleet managers to consider greater use of flexible leasing that allows cars and LCVs to be leased on a monthly basis.
Vehicle price increases “damaging” OEM-fleet relationships
Fleet managers report that they’ve never seen prices move up so quickly, in many cases faster than they can easily track in order to keep their choice lists up to date. It is creating a situation where, if you manage to get a confirmed order for a vehicle, there is no guarantee you will receive it because a cancellation remains likely and, even if it does arrive after 9-12 months, there is a strong chance that the price will have risen markedly.
Pink Car’s EV salary sacrifice scheme offers a car swap every quarter
Since its launch last August, more than 10,000 employees are now signed up to the HMRC approved Pink Salary Exchange - which puts brand new electric cars in the reach of millions of employees. The amount customers pay includes maintenance, insurance and road tax, and with the deduction coming from an individual’s gross salary, instead of net, it reduces the real cost to the employee and saves National Insurance contributions.
Fleet electrification starting to prompt switch to leasing for SMEs
Leasing circumvents the problems of upfront costs and provides regular payments over a period of time, plus it also removes any residual value worry. This is an issue because some SMEs perceive that current EVs will be superseded by better models in the medium term. Also, there is a general degree of worry about the shape of the economy and leasing means that businesses can keep more money in the bank for a longer period of time, providing a higher degree of liquidity if problems do arise
Total Motion launches all-inclusive fleet management solution
From just £10 a month, Fleetiful guarantees one point of contact and one monthly invoice for all fleet spend, and the format makes it more competitive than using multiple suppliers or brokers, as well as making a business easier to run. It is also more cost effective than a business buying or creating its own software, setting its own fuel supply / card deal, having multiple administrative and support suppliers, and setting up and managing its own telematics deals.
Fleet management trends explored
Fleet management is either seen as ensuring driver compliance, reducing risks associated with driving for work, or driving costs down. As costs rise, more businesses are keen to review fleet, and look at areas where savings and efficiencies can be made.
Cars can depreciate £4.6k a year from mileage alone
Mileage gives a good indication of a car’s mechanical wellbeing. The more miles it’s done the more likely it’ll need parts replacing/updating. With this in mind, LeaseLoco decided to take a deep dive into mileage and see just how much it affects car prices in today’s market.
Guiding customers and brokers through the EV journey
New website, which is built by a new initiative – lythium Limited - is aiming to bring about more automation for pricing, information and ultimately introduce customers to an upcoming “lythium Journey”. All of the digital aspects have been created by one of the UK’s leading web development, design and digital marketing company – morphsites.
New digital investment aims to benefit fleets
ViSN provides a single platform to manage fleet operations for fleet companies of all sizes. Designed using the latest cloud technology, it provides a more efficient experience than is currently available in the market. Users benefit from real-time management information and a single platform that connects the driver, in-life services, EV charging and payment integration, driver services and customer communication. In addition, it drives efficiency by enabling customers to self-serve everything from repairs to driver compliance.
Forward plan to beat shortages in 2022
As the impact of the pandemic and semiconductor shortages continue a forward-looking approach will help the fleet and mobility company to make sure that it can secure volumes of new vehicles for its customers’ orders and help them to remain mobile while servicing and repairs are underway.
Now is the time to power on to electric
Companies and fleet managers today understand the importance of building true environmental sustainability into their business. Not only is this becoming a key differentiator to attract potential new employees, but it is also vital to help businesses achieve net zero targets. However, implementing sustainable practices can often feel like a daunting task, with many not knowing where to begin.
Why leasing is the perfect solution to the ‘want it now’ culture
As the desire for quick change and fast purchasing grows, consumers are looking for more ways to get what they want, when they want it. However, the leasing process and wait time can be a lot quicker and smoother than that of buying a new car, something that’s particularly of benefit to emergency services, NHS, and social care workers.
Paack Logistics adopts EVs and optimises Fleet with Rivervale and ODO
Inadequate delivery experiences hinder online sales growth and customer loyalty. However, existing last mile delivery companies are incapable of providing a truly customer-centric approach. Paack aims to disrupt the status quo and ensure every delivery is sustainable and convenient.
Energy companies launch EV leasing scheme
The scheme, called Electric Dreams, is the first to be offered by a co-operative in the UK. Businesses are able to lease an EV for their employees, who then sacrifice a portion of their salary for the vehicle, with no upfront costs. The deduction covers the monthly cost of a brand new electric car, as well as insurance, servicing, maintenance, repairs, MOT, tax, tyres and road assistance, over an agreed term and mileage.
Leasing could save new car drivers more than £5k over PCP deals
Research conducted by Leasing.com in August 2021 comparing the eight lowest total cost leasing deals on economy vehicles with equivalent manufacturer PCP offers found that, on average, leasing was £1,269.48 cheaper over the course of the contract and £23.08 cheaper per month.
10 ways to boost your credit score for car leasing
When a financing company considers a lease application, they look for indicators that you’re a reliable borrower, such as your income and credit score. The better your credit, the less risk you pose – improving your chances of being accepted. In some instances, you can lease with a bad credit score, but you will have limited options, and may not be eligible for certain deals.
What are the benefits of business car leasing?
Business car leasing removes the need to find the initial capital to fund company cars, as you only pay the fixed monthly figure – so that cost is expected and can be budgeted for.
Leasing Broker Federation launches 2021 Awards
The Leasing Broker Federation will be held alongside the LBF's AGM and are open to Federation members who will also be nominating key suppliers.
