Arval is offering low-mileage used vehicles through its Re-Lease product for 20% less than an equivalent new model.
The vehicles on offer are taken from Arval’s own fleet and are less than 30 months old. They are also hand-picked to make sure they are in attractive condition for second lease.
Leases are being offered at 12 and 24 months, with mileage at 5, 10, 15, 20 and 25,000 per annum, with one, three, six or nine monthly upfront payments.
reakdown cover, delivery and road tax are included, tyres will have at least 3mm tread depth, and options include maintenance, extended warranty or Arval’s insured vehicle package, Total Care.
With a wide range of popular brands in stock including Audi, BMW, Ford, Honda, Jaguar, Mercedes, Nissan and Volkswagen prices start from £96.42 per month plus VAT.
Elliott Woodhead, deputy general manager at Arval, said: “With the quality of vehicle stock being returned to us, the age of the vehicles and often low mileage, we believe it’s the right time for this product, giving our customers a new option.
“Not very long ago, a two or three-year old lease vehicle tended to show signs of that use. Now, improved durability means that a properly maintained vehicle is, in many ways, difficult to differentiate from a new one. It might be second hand but it is no way second best.
“This product can also be a really cost effective option. The monthly rentals on our used cars are up to 20% lower than the equivalent new model - a large enough difference to make many customers consider the proposition.”
The disadvantages are few, although Elliott was keen to manage expectations around vehicle choice because, “in many instances, it’s not possible to provide an exact model, colour and spec in the same way that we can for a new car.
“It’s more a question of what’s in stock at any given point in time. For this reason, it is difficult to see used leasing becoming part of normal acquisition policy for major fleets – there just isn’t enough consistency to create a structured choice list.
“But for smaller businesses or individuals, it can be the perfect option. Here, someone acquiring one or just a handful of vehicles is likely to be much happier choosing from a range of models that is attractive but not standardised, and the short lead times attached to the product are also really attractive.”