When looking at possible vehicle hire for company purposes it is all too easy to get carried away in delusions of grandeur as to what is acceptable under your company's budget. Although a Bentley Turbo might see perfectly practical from your point of view there are some realms of prestige car leasing which might seem somewhat indulgent. There are happy mediums and this article examines the different options, benefits and features of prestige car hire.
The first question to be addressed is what makes a model of car 'prestige'. What is one man's prestige is another's run around and in such a materialistic industry to lines of definition between luxury or prestige car leasing is a thin one. One might venture to label any prestige car that which is classified under high insurance brackets or prestige insurance rates. This being the case then there are many cars that fall under that classification, from Audis to Bentleys.
Most prestige cars come in a broad range of specifications and generally under any prestige car leasing agreement with option to buy at the end of the contract, the monthly hire rate will be correlative to the book price of the specific model. This allows for companies to budget specifically for employees based on their requirements with an option to purchase the model at the end of the agreement.
The benefits of opting for prestige car leasing with option to buy lies in various areas. The primary concern for many companies are the tax benefits of providing company car options for their employees and potentially allowing their staff to opt for a model that might previously have been out of their reach. This improves the image of a company as their employees look better turning up to a client liaison in a prestige car than in a standard model.
Many prestige vehicle leasing providers offer a range of payment structures and here are a couple of pointers to look out for when dealing with them. It is essential to ensure that the supplier is working with reputable retailers and finance companies. Car hire and vehicle leasing companies sometimes only work as middle men, outsourcing the car hire and also the finance agreements from various companies, it is essential that you research the other companies involved.
Companies with a proven track record will be relatively transparent during this process. Some less reputable suppliers of prestige car leasing might advertise a certain rate for a model then shop around for the most profitable combination of vehicle supply and finance agreements, this can mean that potentially corners are cut and you might not have sufficient protection within the agreement. The benefits of prestige car leasing are only as good as the agreement signed.
Potential pitfalls can be issues surrounding restricted mileage not specified in the advertising, issues surrounding the classification of insurance within the agreement and other liability issues regarding cancellation of the agreement. By choosing a reputable supplier with strong links to franchised motor retailers and finance agreements you can enjoy the benefits of prestige car leasing, there are many such companies to be found online.
Dominic Donaldson is a reviewer of all vehicles, an expert on
prestige car leasing and a regular contributor to industry publications.
