OK, I have to admit it. I was in celebratory mood last week.
We’d just been named Small Fleet Leasing Company of the Year by Business Car Manager (you can read about it in my previous blog) – and I was having a few drinks with some friends to celebrate.
I might also have mentioned to them that we had won two further categories in the awards as well…Well you would, wouldn’t you?
To be honest I usually avoid work subjects when I’m socialising because you always get dragged into ‘what’s the best car?’ and ‘how much is my car worth?’ type conversations, which to my mind are conversational cul de sacs.
But one of my mates who goes to football with me explained that he always preferred to buy his cars and would never consider leasing. He liked to own things.
Hmmmm. This was a challenge.
It’s a bit like getting pies at football I suggested (you’ll have to bear with me on this).
We both get the same pies at each home game. Except you’ve paid a subscription up front to buy all your pies for the season.
Me? I’m paying monthly, so I can still go on holiday and have a beer after the match because I’ve not just blown a hole in my bank balance trying to pay for all the pies at once.
What’s more, I can claim 50% of the VAT back on my pies so it makes them even cheaper (we’re pretending the ‘pasty tax’ stayed in place here).
At the end of the season, you get to keep the plate the pie came on – I don’t. That’s it.
We’ve both enjoyed the same pies but our approach to financing those pies has been very different and given me better cash flow and some tax advantages. Simple eh?
Well I thought so.
But I then had to translate my analogy – over another beer (well, it was his round…).
When you buy a car, I explained, you have a large capital outlay which can put a strain on your finances. When you lease, you pay a small deposit up front and then equal monthly instalments over a three or four year period. This smoothes out your cash flow.
At the end of the lease term you hand the car back with nothing further to pay, assuming it’s remained in good condition. And then lease a brand new car.
All the while you’ve been able to claim 50% of the VAT back (on a business car lease only).
Meanwhile, the person who’s bought the car can keep it – hence the plate bit in my pie story. But they miss out on the advantages of a brand new car when I’ve started to lease a new one (unless they go the sell and purchase cycle again).
So there you have it. Leasing sorted. It’s just like pies at football matches.
No wonder we won Small Fleet Leasing Company of the Year.
OK, I have to admit it. I was in celebratory mood last week. We’d just been named Small Fleet Leasing Company of the Year by Business Car Manager (you can read about it in my previous blog) – and I was having a few drinks with some friends to celebrate. I might also have mentioned … Continued
So Apple is the coolest brand. The company behind iconic products such as the iPhone, iPad and iPod has been voted the coolest of the CoolBrands in Britain by voters from the public and a panel of 38 key influencers. Number two on the list was the sports car maker Aston Martin and third was … Continued
In last week’s blog I had a peep under the sheets to see what we could expect at this year’s Frankfurt Motor Show. It looked pretty exciting. But now I’ve had a chance to look around and – yes – it was fairly fantastic! Choosing five of my favourites was – well, tricky – there … Continued
September and an odd numbered year. That means only one thing (and not just an autumn that’s full of mists and mellow fruitfulness, although I suspect we’ll get that too). No, I’m talking about the Frankfurt Motor Show. This pantheon to the German motoring industry is just enormous. Massive. Gargantuan. If you ever consider going, … Continued
Surveys: it must be that time of year again. And it’s always easy to take a pop at the company car driver or the paid-for fleet car. One survey I read suggested that drivers of BMWs and Audis are ‘arrogant’ and ‘rude’, and their drivers are considered the most unloved on the road. While top … Continued
Would you drive your car without a tax disc? Probably not. And quite rightly so. You’d fret. And worry. And probably think we hadn’t done our job correctly. But this could happen. And it worries me. And do you know what’s daft? It’s a result of a commendably good idea to modernise and streamline the … Continued
I was chatting to a friend of mine the other day in a bar (not an unusual occurrence for me, I must admit) and the question of jobs came up. “So what do you actually do?” my friend quizzed. “Well, I run a leasing and fleet management company,” I replied. “Yeah, I sort of know … Continued
‘Hey you! Get over!’ How many times have you curdled with frustration at other drivers’ ill-mannered and plain incorrect driving? (I know we’re supposed to stay calm while driving, but sometimes, honestly….) You know what I’m talking about. The middle lane road hog. The smug-in-the-seat-I-feel-safe-in-this-lane-driver. But, c’mon on guys, look at those other motorists around … Continued
If I mention hydrogen to you, what image do you first think of? The Hindenburg airship going up in flames in 1937 – or a Hyundai SUV? For me it’s the former, certainly. Yet last week Hyundai announced that they would be launching a production version of its ix35 SUV powered by a fuel cell … Continued
We’re on something of a roll here. Deservedly so, I would say! But following our success as the Best Company to Work at in Scotland and our rating as one of the Best Companies to Work at in the UK by Great Place to Work Institute – rubbing shoulders with high street names such Coca … Continued