20 per cent increase in 4×4 leases as winter approaches
A 20% increase in the number of new 4×4 leases was seen by medium-term leasing specialist Equalease in October as fleets moved to equip drivers with vehicles for the winter months.
The company says that the increase over September, which also saw a similar rise compared to August, is becoming an established seasonal variation in medium term leasing for fleets that regularly change vehicles.
Managing director Paul Ashton, explained: “It is not surprising that, as the winter months approach, some drivers and fleets prefer to be using 4x4s, sometimes simply because they are more confident facing tougher weather conditions in an all-wheel-drive vehicle but also sometimes because there is a genuine job need for a bigger vehicle with proper off-roading ability.
“What is new in this situation is the way that medium term leasing creates a situation where drivers can have a 4×4 for the winter months and then a choice of conventional cars for other times of the year. Our customers are learning that they can swap vehicles to match their seasonal needs.”
Equalease is one of just a handful of companies that has developed 3-12 month car leases as a specialist product, and says that it has a group of customers who are willing to pay a premium to change vehicle regularly.
Ashton continued: “We certainly have customers, often owners or directors of their own successful businesses, who are willing to pay the premium of around 20% or so that medium term leasing costs over an industry standard three year lease because they to change their car every quarter.
“Sometimes this is based on personal preference – the customer wants a convertible for the summer months, a 4×4 for winter and a prestige estate at other times. However, their thinking can also be based around a pragmatic approach to business travel – when they are covering a lot of miles, they want a safe and comfortable motorway car but, if they know they will be office bound for a few months, they will instead opt for something smaller.”
Ashton said that current 4×4 favourites on the Equalease fleet included the Volkswagen Touareg 3.0TDI Altitude, priced at £499 plus VAT per month.
Vehicles provided by Equalease on 3-12 month leases are taken from its fleet of cars, all of which are less than two years old. Leases include a standard annual mileage allowance of 15,000 miles a year or 1,250 miles a month and include all maintenance, breakdown recovery and road fund licence.
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