Leasing a Great Alternative to Company Car

Companies that run a fleet of vehicles have been offering employees to choose from a company car that is offered as a perk or a cash allowance that enables them to buy their own car. Some employers prefer to offer a car allowance which is beneficial to both the employees and the company.

When presented with the two options, most of the drivers prefer car allowance rather than the company car as it enables them to acquire a vehicle of their own choice and receive a mileage based cash incentive from the company at the same time. There is no restriction on this mileage based cash incentive known as Inland Revenue Authorized Mileage Rate (IRAMR) and allowances are tax-free too.

With cars becoming increasing difficult to sell and with high rate of depreciation, opting for car leasing rather than going for a company car is nearly always the best way. Therefore companies should take the services of a Car Leasing Company in UK and make sure that the employees get the real benefit.

Take Contract Hire route

Leasing enables the employees to acquire the car they want without the risk of loosing money when the agreed period is over. Instead of offering a car, much to the benefit of the employees, the company can offer a contract car hire deal. Delivering ‘off balance sheet' accounting and reclaimable VAT, it can help increase cash flow to assist in the smooth running of your organization. As a form of funding contract hire is usually tax efficient, depending on an individual company’s circumstances so there are plenty of potential benefits both for the employer and the employees.

Find the best deal

Search through different UK Contract Hire Vehicle Services online or Prestige Car Leasing Services in UK in case you want to offer luxury vehicles to your employees, and find a reputable Car leasing company in UK that gives you the best deals. Opting for a reliable contract car hire and leasing company could help you to save money in the future. While competing with each other, a number of UK Contract Hire Vehicle Services come up with special offers and if you are aware of these you can get one easily. If you prioritize your requirement as to what features are you looking in the vehicle and decide on how much your company can afford for it, you would be able to choose widely and get a deal that best suits your company as well as your employee.