Today, operational leasing is gaining more and more popularity among companies. As part of the service, the newly purchased car will be transferred to the customer for a period of 1 to 5 years (determined in advance by the contract). This means our customers don't have to make the investment to get a company car that they would have to make to buy one.
However, for those who are not yet familiar with this form of car financing, the process of operational leasing can seem complicated. That's why we've put together the main stages of the process below, from planning your company's fleet to requesting a quote and returning the vehicle.
1. Fleet planning
The first step in this process is planning. Company management and decision-makers need to assess the situation in the company, how many machines they need to do the job. In addition, it is necessary to determine the budget of the project. As economic efficiency is important to business, it is beneficial for companies to be able to claim back VAT on operating leases and expense long-term leases.
2. Collection of basic needs
The next step is to determine what activities the cars will be used for and what work they will need to do. Depending on this, it is necessary to choose whether a commercial or passenger car is needed, whether it will be used for traveling or trips around the city. In addition to the size of the vehicle, the type of transmission is also an important factor, as some people prefer a manual transmission while others prefer an automatic transmission. Most of our customers come to us with pre-defined brand preferences and equipment needs (what they absolutely need and what they absolutely don't need). It is also important to provide the estimated annual mileage for the calculation, as our staff will use it to calculate the monthly lease payment.
3. Verification of personalized offers
Based on the requirements, our colleagues will select cars for our customers. They contact dealers and prepare calculations based on the offers received. Offers are calculated taking into account the purchase price of cars, equipment requirements and costs associated with their operation. This is mandatory insurance, CASCO, seasonal tires and the cost of mandatory maintenance.
4. Ordering cars and signing the contract
After selecting cars, our colleagues prepare a leasing contract based on calculations. Cars can be ordered only after signing contracts. Delivery times may vary by vehicle manufacturer and dealer. Please contact our colleagues for more information. If required, we can provide a replacement vehicle prior to the arrival of the primary vehicle, depending on the service package, or you can use our Mini Lease service (a long-term rental option from our rental fleet).
5. Acceptance of cars
When the ordered cars have successfully arrived, they will be delivered at the time and place agreed in advance with the customer. Our employees will tell you about the technical features and additional functions of the vehicles and will provide answers to any questions. At the time of handing over the car, we draw up a handover act, in which we record the condition of the car at the time of handing over.
6. Operation of cars
The only thing the Lessee needs to worry about is the timely payment of monthly lease payments based on the invoices issued. As fleet owners, we take care of day-to-day management during the leasing period. We deal with insurance, administrative tasks, settlement of insurance cases. The customer must regularly inform us of the vehicle's mileage during the leasing period, as this allows us to monitor the need for mandatory maintenance and arrange it in a timely manner.
7. Expiration of the leasing period
After the end of the contract (after 1-5 years), a meeting is necessary to decide what to do with the rental cars next. The lessee may want to return the vehicle because they no longer need it, or they may want to order a new vehicle. There is also an opportunity to extend the leasing contract of the car they used. However, if they decide to return the vehicle, we draw up a handover certificate, in which we record the condition of the vehicle at the time of return.
The company Budget Ukraine strives to make the process of operational car leasing as simple as possible for our customers. If you have additional questions about the operational leasing product, please contact us at leasing@budget.ua or feel free to call our employees!