Look down every road and what do you see? Cars, Vans, Lorries, Pickup Trucks! Lots of vehicles!
The supply of new vehicles on finance based packages is a fast growing trend amongst business and personal owners who choose to preserve their cash and take advantage of the discounts and in the case of businesses the attractive tax breaks available too. Personal customers are far more aware of the potential to acquire a new vehicle on finance terms and the UK’s love affair with car ownership and the kudos of a new car every few years is driving demand.
For the sixth consecutive year since the financial crisis the leasing industry industry has continued to show significant growth, with the UK the third largest auto and asset leasing market in the world. The top 50 leasing markets growing new business volume by 9.4% to US$1,100bn in 2016, according to the White Clarke Group Global Leasing Report 2018.
There has always been a strong argument for leasing a new vehicle rather than simply purchasing one outright using a large chunk of capital in the process. However, in todays market place the argument is compelling due to the large discounts available and the appetite of our specialist funding panel to provide finance against an asset that has a predictable value in the future.
Recent legislation by the Financial Conduct Authority has forced amateurs and “bedroom brokers” out of the market place which gives those who have met the stringent legal conditions that exist today a better market opportunity than ever before.