Advicd on what to Look for in a Van Leasing Company
Leasing a car for business or personal use has been going on for many years. Leasing a car is by far a much cheaper option in comparison to buying one.How Long Have They Been Trading For?
20% of new businesses fail within the first year, and that number rises to 50% after three. There have been cases, in my experience, where brokers who haven’t been trading long have taken deposits and then folded, or even if they have not taken a deposit you will have to restart the whole order again with someone else.An established leasing company will be financially stable and have more experience. Therefore, they will be able to provide you with great advice and a great deal for your situation.
You can check out how long a Limited Company has been trading here
For non-Limited companies are harder and you will need to ask them, you could still do a credit check however via Experian or Equifax.
Where Are They Located?
There are some vehicle brokers that are situated in their houses or their bedrooms. While there is nothing particularly wrong with this, it means that they probably don’t have an infrastructure of support you may need.A broker that is located in a commercial place of business, as all BVRLA members are, you can be sure that they will have a more established network than if it’s just one person working out of a garage. If you’re unsure, look them up on Google Maps. A trustworthy, reputable broker will be in an office full of experienced staff and a wide support network. For example, you can find us on a business estate. Hello!
Are They Transparent With Price?
There will be some leasing companies that offer prices so amazing they seem too good to be true. Spoiler alert; they probably are. There are extra costs involved with leasing, and a good vehicle broker should be completely transparent when discussing this.Some car brokers will say there is no admin fee. However, there is usually an extra cost down the line that will cover the admin fee, so always be wary of any potential extra costs. A good car broker will go through all of these with you before you sign anything. If they aren’t open about the price beforehand, then they probably aren’t trustworthy.
You can find out more about extra costs when leasing by reading our article on the hidden costs when leasing a car.
Are They Listening to What You Have to Say?
Another thing to look out for when choosing a leasing company is how well they understand what you want.A good vehicle broker will ask you lots of questions to try and fully understand your situation, and it’s important that they do this before trying to sell you anything.
You should be wary of any vehicle broker that tries to push a certain car or certain deal before they’ve asked you questions determining which deal would be best for you. The chances are they aren’t working in your best interests.
How Many Finance Houses do They Work With?
Before you choose a leasing company, you should find out how many finance houses they work with.Why is this important? There will be a few brokers that work exclusively with a small selection of finance houses which mean that you may not get the best prices or options for your circumstances.
However, a broker that only has access to a few finance houses is not always a bad thing. If they have been trading for a long time and have built up a strong, established relationship with a finance house, then they may be able to get a better deal than those who have access to a wider network.
What customer service do they offer?
It’s important to note what sort of customer service a leasing company offers. For example, you should be able to contact your broker at all times (within reason), and they should have a support system in place to ensure that if there are any problems, they get sorted straight away.You should also find out what sort of after care service they offer. A good vehicle broker should keep you updated on the status of your vehicle throughout the process and ensure that you are completely happy once it has been delivered.
So there are some of the things you should be looking for when choosing a vehicle broker. It’s really important that you choose a broker that is regulated and knowledgeable to ensure that they get the best deal for you.