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By Rob Lowell
If you are simply bewildered by the sheer volume of different quotations from different leasing companies then you are not alone. It’s an issue that faces many small businesses: for the very same vehicle, there is the widest spread of monthly leasing rates in living memory!
Competitive tendering, however, can help your business select the most cost efficient leasing rates and drive down the funding costs of your company’s business cars. Never heard of competitive tendering before?
What is competitive tendering? Competitive tendering can help you save money, as much as much as 8%, on your business cars by selecting only the most cost effective rates from a panel of different leasing suppliers. Many leasing companies have been under severe pressure due to falling residual values and the withdrawal of large-scale credit finance caused by the credit crunch and hence their prices have risen.
This has resulted in spreads of up to 75 per month for the same car from different suppliers. It places the onus on small businesses to only select the most price efficient quotations for their company cars. However, this can be very difficult, if not impossible, for those companies which rely on just one leasing supplier.
The answer lies in the time honoured mantra of not having all your eggs in one basket, and using a panel of leasing suppliers to provide quotes for each new car that you add to the business. By having multiple sources for vehicles, rather than a single source of supply, businesses are not dependent upon one leasing company and not at risk from excessive price rises and fluctuations.
Under a traditional single supplier leasing agreement, there is little competitive pressure to ensure the keenest prices, and over time leasing rates may start to creep upwards as residual values or interest rates change. Competitive tendering, on the other hand, creates competition between large, professional leasing companies, leading to the lowest possible cost for your business cars.
At Multileasing, we work with a large number of different vehicle funders. This ensures that when a business client requires a new car, or wants to replace an existing one, only the cheapest quote currently available from its preferred suppliers is the one put forward.
By implementing competitive tendering on behalf of our business customers, we can select the very best prices, based on what are often daily price swings in the market.
Competitive tendering offers business customers the best of all worlds and removes the need for them to do all of the hard work themselves. This includes the benefits of a single point of contact, plus the lower total fleet costs that competitive tendering undoubtedly generates.
Add to this that at Multileasing, in addition to the cheapest quotations from our bank of leasing providers, as part of our service, we also include a dedicated account manager and cutting edge online fleet management technology to ensure that customers receive truly comprehensive fleet support at No Extra Cost. For more information visit: www2.multileasing.co.uk.
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