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Arval unveils used car leasing offer

Date: 08 October 2018   |   Author: Sean Keywood

A used car leasing product has been launched by Arval.

The firm claims Re-Lease, aimed at both businesses and consumers, can offer savings of up to 20% over an equivalent new car.

The vehicles on offer come from Arval's own fleet, have fewer than 30,000 miles on the clock and are less than 30 months old.

The firm says they are selected carefully to ensure they are in attractive condition for a second lease. 

Leases of 12 and 24 months are available, with mileages of 5,000, 10,000, 15,000, 20,000 and 25,000 miles per annum, and with one, three, six or nine monthly upfront payments.

Breakdown cover, delivery and road tax are included, tyres have at least 3mm tread depth, and options include maintenance, extended warranty or Arval's insured vehicle package, Total Care.

Audi, BMW, Ford, Honda, Jaguar, Mercedes-Benz, Nissan and Volkswagen models are among those available, and prices start from £96.42 a month excluding VAT. 

Arval deputy general manager Elliott Woodhead said: "With the quality of vehicle stock being returned to us, the age of the vehicles and often low mileage, we believe it's the right time for this product, giving our customers a new option.

"Not very long ago, a two or three-year old lease vehicle tended to show signs of that use. Now, improved durability means that a properly maintained vehicle is, in many ways, difficult to differentiate from a new one. It might be second-hand but it is no way second best.

"This product can also be a really cost-effective option. The monthly rentals on our used cars are up to 20% lower than the equivalent new model - a large enough difference to make many customers consider the proposition." 

Woodhead added that while there are few disadvantages, vehicle choice is inevitably more limited than with a new car lease. 

"In many instances, it is not possible to provide an exact model, colour and spec in the same way that we can for a new car," he said. 

"It's more a question of what's in stock at any given point in time. For this reason, it is difficult to see used leasing becoming part of normal acquisition policy for major fleets - there just isn't enough consistency to create a structured choice list. 

"But for smaller businesses or individuals, it can be the perfect option. Here, someone acquiring one or just a handful of vehicles is likely to be much happier choosing from a range of models that is attractive but not standardised, and the short lead times attached to the product are also really attractive."