CBVC aids opt-out drivers with new personal lease division
CBVC Vehicle Management has launched a new personal lease division to help the growing numbers of drivers opting out of company cars.
Intended to help drivers make the decision over cash or car, the new ‘Leasing Gorilla’ division brings access to a wide range of vehicle funders, including manufacturers’ own schemes. It also features cash or car modelling software to help drivers decide whether to take the cash or company car.
The new division, which also offers personal contract hire for vans, is being headed by newly appointed business development manager Chris Jennings who has spent the last six years with the Applied Leasing leasing brokerage as well as nearly 14 years in the BMW dealer network.
Mike Manners, CBVC’s managing director, commented: “We have been considering separating our CBVC Vehicle Management brand from our personal contract hire business for a while. This has crystallised with the recruitment of Chris and the birth of Leasing Gorilla. The exceptional cash or car modelling software we have had developed makes sense of whether to take the cash or company car.
“The additional volumes will assist our overall purchasing power still further, benefiting both personal users and even better rates for our existing business and fleet managed clients.”
The launch of the new division comes after recent HMRC data showed the number of UK employees taking company cars fell by 20,000 during the last tax year, as rising tax burdens continue to take their toll on demand.
The figures follow ongoing warnings from a number of fleet specialists that drivers are continuing to opt out of company cars as their tax bills rise – backed up by latest BVRLA data showing that take-up of personal contract hire continues to erode the fleet market.
Earlier this year, former JLR UK managing director Jeremy Hicks predicted that growing numbers of drivers will opt out of company car schemes over the coming years, due to WLTP changes and unclear taxation benefits, as well as the 2017 switch to a new VED regime and the diesel taxes announced in last year’s Budget.