OVL Lease Blog

OVL working with Premia Solutions to offer GAP insurance. 

OVL working with Premia Solutions to offer GAP insurance.  GAP insurance….do you know what it is? Do you know if you need it? Never fear, we’ll explain all. When you lease a new car... Read More

The EMTEC Polish Rally - news from an OVL partner company

The EMTEC Polish Rally - news from an OVL partner company EMTEC has become an accredited supplier for the soon to be compulsory Polish E-TOLL system. In order to achieve accreditation EMTEC participated in... Read More

Devon Wildlife Trust makes fleet emission data actionable! News from OVL partner company

Devon Wildlife Trust makes fleet emission data actionable! News from OVL partner company The Devon Wildlife Trust safeguards Devon’s unique natural environment. Devon is the third largest county in England and the Trust ... Read More

New electric cars for 2022

New electric cars for 2022 2022 looks set to be a year of exciting electric vehicle launches from many of the major manufacturers. Some of the models we are most ex... Read More

Merry Christmas and Happy New Year from OVL Group

Merry Christmas and Happy New Year from OVL Group It has certainly been another challenging year and most importantly we hope that you, your families and colleagues all remain well. We ar... Read More

Are all electric cars automatic?

Are all electric cars automatic? We could go around the houses to answer this question, but let's keep it simple....yes! Most electric cars are automatic, and likely will... Read More

Meet the new Electric kid in town

Meet the new Electric kid in town Perhaps because of the profile of their illustrious leader, Tesla tend to be the brand on the tip of the tongue when it comes to electric cars... Read More

How an all-electric fleet can play a big part in getting to net-zero.

How an all-electric fleet can play a big part in getting to net-zero.   Speaking at the COP26 climate summit this month, Chancellor Rishi Sunak claimed the UK was leading the world in becoming the "... Read More

Register your interest in leasing the Tesla Model Y here

Register your interest in leasing the Tesla Model Y here You can now order the much anticipated Tesla Model Y in the UK. First Deliveries are expected early 2022 (Model Y Long Range, Performance... Read More

There's never been a better time to lease your vehicle...let us explain.

There An unusual set of circumstances are contributing to there having never been a better time to lease your vehicle. Despite messages of prices on the ... Read More

Ssssh don’t say the ‘d’ word

05/01/2022

Ssssh don’t say the ‘d’ word

Depreciation – what exactly is it and how can leasing a car avoid it?
 
 
Depreciation is quite simply put the difference between the amount you spend when you buy a car and the amount you get back when you sell or trade it in.
 
 

For example if you were to buy a brand new Range Rover Evoque you’re looking at a price of around £50,000 – sell it after three years and you can expect a figure of around £32,000 (depending on condition, mileage, specification etc.)
 

The Evoque is a car that commands pretty good resale value – for some vehicles they can lose up to 70 or 80% of their new price in three years.

 
According to stats for the AA a new car loses value as soon as you drive off the forecourt and by the end of the first year will have lost around 40% of its value. By year three, if you drive 10,000 miles a year, the average car will have lost around 60% of its value!
 

For many people though, driving a brand new car that has zero miles on the clock and that ‘new car smell’ is essential.  We agree! There’s nothing quite like brand new, but you don’t need to face losing thousands of pounds to get that feeling.
 

This is where leasing comes in.
 

Currently only around 10% of cars on the UK’s roads are leased by individuals so that means 90% of you are missing out on the benefits and not having to worry about depreciation is one of them!
 

Of course you won’t own your leased car but it will be brand new when it’s delivered, it will be yours for three years and after this time you can simply hand it back and start all over again, leasing another brand new car.

 
Once you’ve chosen the make and model that suits your lifestyle, and your purse strings, you make an initial payment (usually the equivalent of 3 or 6 monthly payments) plus a standard admin fee and then monthly payments are spread over the term of your contract. No hidden extras, no worries about depreciation just a fantastic brand new car for you to enjoy.
 

We hope we’ve made you curious to find out more – so why not take a look at our deals today www.ovl.co.uk