European Car Leasing System Will Blow Up Tesla & Other EV Sales

Leasing as a private financing instrument for automobiles is a new phenomenon, not well known by the public and very rare. When talking about leasing in Europe, it is mostly about company cars for private use by employees. The company leases the car and supplies it to the employee as a “benefit in kind.” The employee even pays extra income tax for the benefit in kind received. The type of lease used is a full operational lease. It includes the costs of repairs and maintenance, insurance, taxes, fuel, and often roadside assistance and replacement during repairs. There is no option to buy the vehicle at the end of the lease term.

In the UK, Germany, and Netherlands, way over 50% of all new cars are sold through these contracts. In many other European countries, it is about the same. In the category where Tesla, BMW, Audi, Mercedes, etc. are active, the share of leased vehicles is a lot higher than the average.

Companies with hundreds of thousands or over a million of vehicles on the road know exactly what costs can be expected of which type of car. The monthly lease payment is not just based on the MSRP price of the vehicle

Read More At CleanTechnica

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