Nowadays, operational leasing is becoming more and more popular among companies. As part of the service, the newly purchased vehicle will be delivered to the customer for several years (determined in advance by contract). This means that our customers do not have to make the same investment to get a company car as they would to buy one.
However, those who are not yet familiar with this form of car financing may find the rental process complicated. That's why we've put together the main steps of the process below, from planning your company fleet, to requesting a quote, to taking the car back.
1. Planning the fleet
The first step in the process is planning. The company's management and decision makers need to assess the company's situation, how many cars they need to get the job done. And they also need to discuss the budget for the project. As cost-effectiveness is important for businesses, it is beneficial for companies to be able to reclaim VAT on operating leases and to deduct long-term rentals as a cost.
2. Gathering the main needs
The next step is to determine exactly what the cars will be used for and what type of work they will be required to do. Whether they need a commercial vehicle or a passenger car, and whether they want to go on long journeys or drive around town, they can choose the best car for them. As well as the size of the vehicle, the type of gearbox is also an important consideration, as some people prefer manual and others automatic. Most of our customers come to us with a predefined brand preference and equipment needs (what is absolutely necessary and what is completely unnecessary for them). It is also important to provide the planned annual mileage for the calculation, as this will be used by our staff to determine the monthly rental rates.
3. Checking the personalised offers
Based on the requirements, our colleagues will select the cars for our clients. They contact dealers and prepare calculations based on the quotes they receive. The offers are calculated taking into account the purchase value of the cars, the equipment requirements and the costs associated with their operation. These include compulsory insurance, CASCO, seasonal tyres and the cost of compulsory servicing.
4. Ordering the cars
After selecting the cars, our colleagues will prepare the rental contracts based on the calculations. Cars can only be ordered after the contracts have been signed and the agreed deposit has been paid. Delivery times may vary depending on the car manufacturer and dealer, please contact our colleagues for more information. If necessary, we can provide a replacement car until the vehicle arrives, depending on the service package, or they can use our Mini Lease service (monthly rental option).
5. Taking over the cars
If the ordered cars arrive successfully, they will be delivered at a pre-arranged time and place. Our staff will explain the technical features and extra functions of the vehicles and answer any questions which may occur. And if they have used a replacement car, it will be returned at the same time.
6. Operating the cars
As fleet manager, we take care of the day-to-day management during the rental period. We take care of insurance, administrative tasks, accident claims settlement. It is also necessary to regularly report the mileage of the cars to us during the rental period, as this allows us to check the mileage of the vehicles and our colleagues can monitor the need for mandatory servicing.
7. Expiry of the rental periods
At the end of the contract (after 1-5 years), an appointment is needed to decide what to do with the leased cars. The Lessee may want to give the car back because they no longer need it, or they may want to order a new car. It is also possible to extend the rental contract of the car they have used. However, if they decide to return the vehicle, we will draw up a handover report in which we record the condition of the vehicle at the time of delivery.
Our company strives to make the car rental process as simple as possible for our customers. If you have any further questions about the operation of the long-term lease, please contact us at budgetflotta@budget.hu or feel free to call our staff!