Company car finance preferences

Financing company cars through a leasing company is increasing in popularity amongst businesses.

According to Mike Bell, director of My Lease, an increasing number of new customers are moving away from finance arrangements direct with dealers.

“In the past, 70% of companies funded their company cars through dealers and approximately 30% through a leasing broker,” he said.

“But in the last 18 months we have seen an increase in the number of new clients wanting the choice of vehicles that only a contract hire company can offer.”

Dave Parker, managing director of Global Wealth Management, said: “We carried out a comparison between financing through a dealer and leasing, and leasing was more cost-effective, with the added bonus that the hassle is taken out of managing our car fleet.”