Global demand for cars is down due to the increasing costs of vehicles, a hike in interest rates, various trade wars and Brexit creating economic uncertainty.
According to statistics published by HMRC, a growing number of firms have stopped offering company cars as a benefit-in-kind.
UK drivers have also been deterred by an increase in VED road tax which has added 9% year-on-year to the cost of owning a car.
Business confidence in the global economy is at its lowest since the immediate aftermath of Britain’s decision to leave Europe in 2016.
As a result of geo-political and socioeconomic uncertainty, businesses are looking for cost-effective alternatives. Firms that require a fleet of cars are leasing rather than buying.
Business Car Leasing
Business car leasing is seen as a solution for the growing number of challenges faced by UK enterprises – especially firms that rely on a company fleet.
Other than the rising costs of car ownership, a hassle-free experience eases the burden of managing a fleet of vehicles.
An increase in alternative fuel vehicles (AFV) and the option to upgrade vehicles to the latest model every two or three years also makes business car leasing an attractive option.
However, the structure of the business car leasing industry can sometimes hinder SME’s looking to invest in a fleet of cars.
In general, large leasing companies are hampered by process restrictions and cannot offer a high level of account management to the SME market.
Brokers find it even more difficult to effectively manage accounts because they have no control over contractual agreements including maintenance, servicing, damage, excess mileage, early termination, breakdown.
Toomey Leasing Ltd, on the other hand, has a unique business model which enables us to successfully navigate the typical issues faced across the industry.
Why Toomey Leasing?
Great customer service has to be a priority in today’s business world. When considering fleet vehicles, SME’s need cost-effective solutions that are flexible and convenient.
To effectively manage a fleet of vehicles, you need to have a level of control over contractual arrangements such as maintenance, servicing, damage, excess mileage, early termination, breakdown etc.
Because Toomey Leasing funds its own vehicles, we have a high level of control over our assets which we can pass on to our customers. Our business model enables us to make robust decisions that work best for us and our customers.
For SME’s, the capacity to negotiate tailored solutions is a key factor in managing your finances and taking control of your business needs.
Toomey Leasing removes the barriers that are prevalent throughout the industry so our customers can invest in a business fleet with confidence.
Although the UK economy is in decline, Toomey Leasing Group has continued to grow. Our success is due to our ability to offer flexible contracts that provide value for money together with our exceptional customer service policy.
If your company is looking for a cost-effective alternative to build a fleet of cars, we can help.
Contact us now and speak to one of our experienced advisers about a business car leasing contract that works best for you.