Available online, the “Buy or Lease” calculator can be used by fleets to enter key details such as the kinds of cars and vans operated, their normal replacement cycle, annual mileage and current age. The tool then produces a financial breakdown forecasting the estimated costs of each acquisition method annually and over the next three and five years.

It also quantifies the estimated savings as part of the impact on an organisation’s overall finances by illustrating any possible savings as a typical increase in sales turnover, as well as estimating the potential cash injection available from any sale and buyback arrangement.

Gary Killeen, Fleet Services commercial leader for GE Capital UK, said: ‘Whether to buy or lease is one of the most fundamental questions that faces companies that run fleets but calculating the effects of any change is difficult.

‘The calculator allows basic information to be entered in a matter of a few minutes and an estimate created of the potential financial impact of switching acquisition method. Those who are interested can then work with our Key Solutions consultancy team to create a definitive picture.

We are impartial in terms of the results, as we work with fleets that both buy and lease vehicles. Our aim is instead to create wider understanding of the issues and influencing factors among companies of all kinds.’

The calculator produces an estimate based on information entered, though the actual figures may vary, which will be subject to each Fleet’s circumstances. The calculator is available at http://www.gebuyvslease.co.uk/