Almost two out of three small to medium-sized businesses would consider using specific leasing products for cars and vans – showing how leasing is continuing to grow in popularity.

Arval said it’s likely that products which remove the RV risk and provide a comprehensive vehicle package for a fixed monthly cost will have considerable appeal for SMEs

When asked by Arval Mobility Observatory about “to what extent are you interested in each of the following finance solutions for future vehicle purchase?”, a total of 64% of SMEs said they were “interested” or “very interested” in leasing with a purchase option or financial leasing, which includes the customer taking on the RV risk.

Meanwhile, more than half (56%) gave the same response for operating leasing – which sees the lessor assume the RV risk – while 45% opted for car credit.

While 73% backed outright purchase, showing that this is still the most preferred option, Arval said the findings show how further growth is likely in SME take-up of leasing.

Shaun Sadlier, head of Arval Mobility Observatory in the UK, said: “The research suggests a widespread and sophisticated understanding of the benefits of different leasing products with and without the customer taking the RV risk, as well as knowledge of the type of additional services that are available.

“With the financial pressure that many SMEs are likely to experience in the wake of the pandemic, it is likely that products which remove the RV risk and provide a comprehensive vehicle package for a fixed monthly cost will have considerable appeal.

“However, the attachment of a large number of these smaller businesses to outright purchase remains considerable, although we expect this to probably soften in the coming years.”

Which funding solutions for cars and vans might you use in the future?

*Could include a full package of maintenance services