It's 1st April, leave the jokes at the door, cause it means only one thing for us and that's work, work, work.
We communicated last week about the impending price increase across a number of manufacturers including Kia, Hyundai, Skoda, Seat, Audi, VW, Volvo and Cupra. We expected the new VED (Vehicle Excise Duty) and hiked basic list prices; what we didn't expect was what we got!
Well, what can we say; Quarter 2 all car leasing deals are here and so far they've had us brimming from ear to ear.
Take Audi car leasing deals for example, so far we've seen the rental on Q5 Sportback Sport 40 TDI quattro S Tronic lease drop by £86 per month. We know that the Q5 is currently on run out and have heard whispers about an Audi Q6 launch, but even so; that's a stonking reduction!
We've even just had word that not only are VW rates reducing but that car lease special offers are back. They are going to be managed differently than before though in the interest of fairness. Previously all cars would be added to a hub. When a customer was approved for finance a vehicle could be ordered from the centralized portal, this meant that not all Suppliers got the same amount of cars, it was first come, first served. This left some Dealers unable to reach agency targets as they were short on stock. These offers will be managed differently with all agency dealers being allocated an amount of cars based on their unit commitment to the brand. Cars are expected to be allocated next week, this does not mean that they're in stock.
Manufacturers are still struggling with supply, so they've adapted their rates to support the rentals on the cars that can be delivered within a sensible time frame. An example of this would be the Cupra Formentor 2.0 TSI 310 VZ2 5DR DSG 4Druve, this model costs less to lease than the VZ1 version. This is because there's build constraints on the trim of this model.
We're seeing most of the lenders extend their final payout deadlines to tie in with the lead time of the cars. For example a VW Golf R lease (which will be launched next week), will have a final payout deadline of 31st December 2022, but if the car is delayed and goes beyond this deadline, it then must be delivered within 14 days of the arrival date with Dealer.
Keep your eyes peeled over the next couple of weeks as we add more special offers and great rates to the website.
It's nice to see the rentals reduce especially at a time when all we seem to be encountering lately is our business and personal costs increase.
We're super excited and pleased with the latest contract hire and leasing deals.