If you are a business, then you may be considering leasing your next car or your next fleet of cars. Vehicle leasing for businesses has become extremely popular as of late, and is still continuing to grow in popularity. But how does it all work? Why has it become so popular?...
Commercial leasing is a hugely popular way of getting a van and is becoming ever more popular. But what is commercial leasing? And, how does it work?
In this article, we look at what commercial leasing is, how it works and the pros and cons.
The general definition of Business Contract Hire is where an asset is leased to someone, in this case, a business, for a set period of time. The Lessor is the person who leases the asset, the Lessee is the person who upholds specific obligations as defined in the lease agreement. In the context of vehicles, Business Contract Leasing is an agreement in which the leasing company, the Lessor, provides a business with a car, the asset, to a business, the Lessee. When we talk about Business Contract Leasing, we are referring to Business Contract Hire, which is just another name for it.
One of the questions we get asked a lot at OSV is ‘why is business contract hire cheaper than personal contract hire?’ It’s a completely valid question, of course, because you want the best deal you can get. And, if you can lease a car through a business, then you would want to know if that is the cheaper option. There are a few reasons why business contract hire can be cheaper than personal. So in this article, we are going to talk about the main differences between the two, and why one might be cheaper than other. Firstly, let’s discuss the differences between the two lease agreements...
In the US, one in four new cars is personally leased in some way. Now, car leasing is growing increasingly popular in the UK. In fact, last year leasing brokers’ combined car and van volumes grew by 27% over the course of 2015 (bvrla.co.uk).If you are thinking about leasing a car, it’s important to weigh up the pros and cons to make sure that car leasing is the right option for you. After all, it’s not going to be right for everyone. However, we understand that there is a lot of information to take in when looking into leasing a car, which is why we’ve written an article on the advantages and disadvantages of leasing a car.
It should be noted that the pros and cons on this list are subjective, so while something may be a con to some, it could be a pro for others...
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