A used car leasing product aimed at businesses and consumers has been launched by Arval in the UK. Called Arval Re-Lease ™, it is up to 20% cheaper than a new, equivalent model. The vehicles on offer are taken from Arval’s own fleet, have fewer than 30,000 miles on the clock 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 1, 3, 6 or 9 monthly upfront payments. Breakdown 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 at 20%*.
Elliott Woodhead, Sales Director at Arval, said:
“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.”
More information is available on Arval’s website - https://www.arval.co.uk/used-vehicle-leasing
*This figure is based on a 24 month/10,000 mile per annum lease with six rentals in advance and 23 to follow for a Nissan Juke Diesel Hatchback 1.5 dCi Visia 5dr. The contract includes breakdown assistance but the customer must maintain the car in line with manufacturer’s recommended service intervals and legal requirements. Prices correct at 22/08/2018. VAT charged at 20%.