Whether you lease or buy a company car comes down to the circumstances of your business. From available disposable capital to budgeting needs to what’s included, each will play a part in your decision-making on whether leasing or buying is right for you. Way up the pros and cons for your business to make a decision.
In the majority of cases, it’s cheaper for a business to lease a car rather than buy one. Buying a vehicle requires paying out a huge amount upfront rather than leasing which has a low upfront fee and relatively low monthly cost.
Road tax (always included), breakdown, maintenance and insurance can also be included for more cost-effective business motoring.
Not sure whether buying or leasing is right for your business? You could take out a salary sacrifice lease.
The salary sacrifice scheme lets employees take out a business lease through their company in exchange for giving up a small portion of their salary, usually working out as a cheaper option for both the employer and employees.