Using A Leasing Broker

Posted on 4th May 2018 By Rob Nugent

Why use a vehicle leasing broker? 

You probably have a mortgage broker, use an insurance broker or comparison service for your insurance, have a Financial Advisor find you the best savings, investments and pensions advice? Then having a recommended vehicle leasing broker to arrange a deal on your next car can be a logical step and has been for thousands of businesses and consumers for 3 decades.

What to look for in your leasing broker

I tend to measure the number of great brokers by the numbers of partners of a major leasing company. As an example, we have been a franchise of LeasePlan (formerly Network Vehicles) since 1995 and they tend to have around 100 quality companies that they deal with.  This provides healthy competition which is more and more based on service and feedback as well as the all-important price.

Along with other criteria, all partners must demonstrate to have the following:

  • Office Premises
  • Be members of the BVRLA – our trade body
  • Have a licence from the FCA – Financial Conduct Authority
  • For each member of staff to attend at least two industry training days each year facilitated by motor industry experts Professional Inspirations

Large or Small?

Not all brokers are the same, some are huge organisations with full telesales centres, sales teams, admin teams, buying teams and marketing departments others are literally a business owner and maybe an administrator and most (like us)  are somewhere in between.

However what is key is that you are comfortable with who you are dealing with and rest assured ‘most’ of us are actually pretty good at what we do.  Brokers have their own culture and it’s up to you who you ‘get on with’ and trust to get the right advice and deal for you or your business.

A medium sized broker will tend to get you access to great deals AND a personal service, a smaller one maybe great service but not as many deals and a larger one a very slick experience but occasionally lacking that personal touch many small businesses and consumers still value.

Ask who they represent

One thing to look out for is to get as much coverage from your broker as possible.  They ‘should’ have access to a number of major leasing companies, the ones that you can only access via a broker. These are the guys buying thousands of stock and specially priced cars each year that you’ll see advertised widely.  Most of us also access hundreds of dealers from across each manufacturer to get the best access to stock and special offers that your local dealer won’t get.

Top Tip: 

Don’t get too many brokers pitching for your business. It’s prudent to get a couple of quotes but the best brokers will put you to the bottom of their to-do list if they think you’re going to take every quote out to 10 other people.  The reason we are the broker is that we find you the best deals – if you trust them you’ll let them get on with the job.

Something to keep an eye on – admin fees

Some brokers charge admin or processing fees and this should be transparent at the point of quoting.  We currently don’t charge these but again there’s nothing ‘wrong’ with this unless it seems a little more important they get your cash rather than supply the deal!  Remember this is a heavily regulated market so the days of spurious fees and charges should be over.

The truth is good enough

This article was supposed to be informational rather than advertorial however  I can list example after example of our absolute honesty being valued by our clients.  The motor industry is far from perfect. Stock lists can be out of date, cars get sold before our eyes, some supplying dealers are awful and some are fantastic.  Some cars get delayed at the factory, some are even taken off order but out of 9 problems that happen a good broker isn’t at fault – however, it’s all about communication.  It’s my role as Director here to get you to trust us, not by sales speel but by our actions.    It’s a good brokers job to seek out not only good deals but fantastic dealers, it’s my role to find out why a funder is letting things slip and help them improve using our account managers to feedback.

If we have an issue the customer knows straight away. Throughout the sales process, we are being as transparent as possible in what can be a very hazy industry.  That’s a promise from me (remember our regulators will be reading this too!)

Do you want our help?

Finally, if you’d like to chat to us about using our vehicle leasing brokerage just drop me a line 01706 577040 or email robert@anthonyk.co.uk to see if we can provide what you are looking for.

 

 

 

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