New data from Leasing.com shows that leasing a battery electric vehicle is on average 18%, and potentially up to 31%, cheaper than funding a new vehicle on personal contract purchase. According to 2022 pricing data across Leasing.com’s top 15 most popular BEVs, leasing was the cheapest and most cost-effective option on 87% (13) of those models. Across the list, the highest cost difference was … [Read more...]
PCP users paying for poor repairs
PCP users are facing unexpected bills for sub-standard repair work to contracted cars, says the Vehicle Remarketing Association. The organisation, which represents companies that between them handle, sell, inspect, transport or manage more than 1.5 million used vehicles every year, says that more and more cars are being presented for sale online and at auction with what the industry terms … [Read more...]
Safety and service take back seats in new trend
New approaches to service and maintenance will be needed as personal contract hire increasingly makes an impact in corporate circles, says epyx. Tim Meadows, commercial director, said that typically 80% of cars on traditional corporate contract hire were leased with inclusive maintenance packages but that this fell to around 20% for PCH. He explained, “Fleet leasing companies are selling … [Read more...]
Mileage fraud is bigger than believed
Mileage fraud may be more prevalent in UK than previously thought, with the practice risking driver safety as well as costing millions of pounds every year. Carly - Connected Car, the world market leader in mobile car electronics, has found the top four UK hot spots where 18 per cent of vehicles are displaying the incorrect mileage, three per cent higher than the national average of 15 per … [Read more...]
A Guide to PCPs and PCH
Car finance has been in the spotlight recently with fears over negative equity in car deals and the prospect of a Financial Conduct Authority investigation into motor finance. In essence, there are two issues at play that are linked but separate. The first is a question of affordability on the part of the consumer; the second is the exposure of finance companies to potential downgrades in the … [Read more...]
Brokers expect leasing demand to grow
The first ever survey of vehicle leasing brokers suggests good times ahead for the sector with 87% of brokers reporting a buoyant market with demand for leases or other financial products on the up as SMEs, corporates and private buyers take advantage of low lease rates. Conducted by the Leasing Broker Federation, an independent membership organisation that supports leasing brokers across the … [Read more...]