Yes I have ~ Motabilty vehicles are a lease agreement.
Prior to that, when I lost the use of a company car due to retirement, I leased a vehicle.
Works well as they take care of all servicing, insurance, road tax new tyres etc. All you pay for is the lease (hire) and fuel costs.
Downside is that you either have to pay a large sum to keep the car at the end of the lease period or you have to give it back in good order ~ bodywork, upholstery etc and have had it serviced when & where they tell you to. Failure to pass the hand back inspection can result in a hefty surcharge. There is usually a limit to the annual mileage (and their service centre will report the mileage to them each time they have the car in), this is normally either 10,000 or 15,000 miles but that is negotiable at the commencement of lease. Higher agreed annual mileage will mean a higher monthly lease charge and if you undershoot the miles agreed there is no rebate! Some companies charge you for excess miles each year, some are willing to average it out.
As you are self employed it is possible probable that you can charge part of the lease costs against tax but only for business miles. This means accurate record keeping!! Check your tax offset position with your accountant before you sign up for a leased vehicle.
Most large companies now lease the vehicles they issue to their managers and sales reps so there has to be a reason ... the main one being they have no worries about taxing on time, servicing etc. Some lease agreements will include a loan car when yours is being serviced/repaired and some won't.
Choose your supplier carefully and read the full terms and conditions before you sign up!!
