The Framers Forum

my second car has given up (after 20 years,) so I need to look for another. I was wondering if anybody has expertise of buinesss car lease? It’s just a small run around.

Alan,
If you are looking for a pile of receipts and nothing else after the lease is over, go for the lease.

If you want to keep and use a vehicle for many (or a few) years after the term of the lease, go for a purchase of the vehicle.

IMHO, leases were developed to sell more NEW vehicles and nothing more. My current vehicle is 7 years old, had had no major repair costs, and is my daily driver.

I have not had a monthly payment in years on any of the vehicles that I have owned. With todays used vehicle market it also could be sold for cash.

It might be worth looking at electric cars as due to the current tax incentives for business leasing they can work out much cheaper than Ice cars.

A second note. A business car/vehicle lease would be made in the name of the company. As such it has to be registered and insured in the name of the company.
You have to look at the cost of insurance for both forms of ownership. Where I live, insurance for a company car is more than for me as an individual.

My business vehicle insurance is cheaper than my personal car, both about the same value and annual millage. I have no claims discount etc for both.

I leased business vehicles for years on 3 year contracts on my accountants recommendation. Monthly payments offset against tax and 50% vat back. Last year, i got a new pick up truck and i was told it was better to buy. I can check all the reasons, but i let my accountant make those recommendations.

I certainly found leasing an easy process even to having vehicles delivered. I had a contract with servicing included too so it was all very straightforward.

Nick