In a world where we all want to make sure our money goes further, weighing up the type of vehicle lease you take out has never mattered more. The Range Rover Evoque is a luxury SUV that lends itself to both personal and business use, making it an interesting case when it comes to different leasing options.
To make sure you guarantee yourself value for money through the best possible deal, we’re going to take a look at your options. Let’s dive into the details and get started!
What is vehicle leasing?
You can buy a car outright with cash or you can lease it from a company that ultimately retains ownership. The good thing about leasing is that you don’t feel the pinch when the car drops in value by as much as 60% within the first few years of driving it.
You simply drive it in line with the contract, make a fixed monthly payment, and then hand it back in good condition at the end. You don’t even have to worry about selling or exchanging it to help fund the purchase of your next vehicle. Ideal when you want to be able to drive off the forecourt with the peace of mind that really does make a world of difference.
Do I qualify for a business lease?
This is the natural question to ask before we start to consider whether the business or personal route is best for you. To qualify for a business lease on the latest Range Rover Evoque, you have to be one of the following:
- A member of a financial partnership
- Part of a limited liability partnership
- A registered sole trader who files returns
- Fully VAT registered as a trading company
- A private limited or limited company
If you don’t fall into one of the categories above, you will not be able to take out a business lease. In this case, personal leasing still offers plenty of value and flexibility when compared to buying a vehicle outright.
What’s the difference between personal and business leasing?
They work in much the same way: an initial payment followed by fixed monthly payments for the duration of a contract that typically runs from 2-5 years. The difference is that if you’re VAT registered, your company leases the vehicle (not you, the individual) and you can claim all of the VAT back that you’re charged on the monthly payments. This makes business leasing considerably cheaper than personal leasing.
To get the best price, you will want to make sure that you accurately gauge how much mileage will be personal. If the vehicle is used for a mix of business and personal use, you can still claim 50% of the VA T back on your monthly payments. Ideal when you want a flexible option that will adapt to the needs of your business.
How to find the best Range Rover Evoque quote
Getting a deal that makes your money go further is always the name of the game in the world of car leasing. While there are a number of third-party comparison sites, we know that time is money.
Choosing a specialist service that can offer a range of Range Rover Evoque Lease quotes combined with personal service is often the best approach. This is because you will be guided through your options by a single point of contact, allowing you to make sure that your money always goes further.
To find the best quote on the latest Range Rover Evoque, make sure to spend a little time considering the following:
- Business leasing will always be cheaper than personal leasing because you can claim back up to 100% of the VAT charged on the monthly payments
- A specialist in leasing arrangements will help you find the best deal if your vehicle will be used for a mix of business and personal mileage
- If you take out a business lease in the name of your company, you will typically get a significantly higher mileage limit as part of the contract
Have I found the right quote?
If you are eligible for a business lease, we recommend exploring this option first as it will be cheaper and offer higher mileage. Contacting a specialist will help you find the right balance between a newer model, higher mileage, and lower initial and monthly payments. They will be able to guide you through your options so that you can make your money really start to work for you. Ideal when you don’t want to feel the impact of paying for an asset that starts to depreciate and lose value the moment you drive it off the forecourt.
