The British Vehicle Rental and Leasing Association (BVRLA) has published a new version of its Guide to Vehicle Funding to help businesses choose the right solution.
The guide,which has been produced in association with professional services firm Grant Thornton, looks at the pros and cons of buying vehicles outright, in addition to a wide range of funding services offered by BVRLA members.
It also takes a fresh look at the debate surrounding whether to give employees a company car or cash alternative and has been updated to reflect recent changes in business car taxation and lease accounting.
Commenting on the new guide, BVRLA chief executive Gerry Keaney said: “Cars, vans and trucks provide essential transport for both companies and individuals. But they can be expensive to own and operate, so it is important to select the appropriate financing method when purchasing or otherwise accessing them. Various options are available, each of which has its own advantages and disadvantages depending on an organisation’s operational objectives, accounting methods and cash flow requirements.
“We are grateful for the input of associate member Grant Thornton UK LLP, whose assistance has enabled us to produce such a comprehensive and informative publication. We believe businesses and consumers will find this guide very useful when they are navigating the complex landscape of vehicle finance.”