Over the last 18 months with the financial uncertainty of Brexit and the increased tax charges placed on second home owners and landlords, research has shown there has been a dramatic drop in the number of both new and second hand supercars being sold, via both outright purchase and finance. The worries over the immediate financial future are meaning would be supercar buyers are now opting to lease their cars on a short term basis, often less than a year and many on the growing trend of monthly rolling contracts in a bid to lower their longer term commitments.
This type of short term leasing not only offers the ability to change your car every few months without penalty, but more importantly does not commit you financially for a long period. This has great appeal in the current climate where job security and the financial future are uncertain for so many.
Charlie Cartwright, the general operations manager at London based PB Supercars has seen a rise of over 30% in this type of business in the past few months and expects to see this continued increase over the next year as more and more high net worth individuals enquire and see the benefits.
Charlie quoted that “Car leasing has been around for years, but this requires a contract of between thirty six to sixty months, which is a massive financial commitment and can put untold stress on families if circumstances change. With these longer contracts there are no break clauses or exit options without suffering tens of thousands in financial penalties, where as our short term options remove this stress and also do away with credit checks which can be another limiting factor for many people considering outright purchase or long term leasing.”
This growing trend also has great appeal to the self employed whose income can be seasonal, often fluctuating greatly from month to month. For the self employed or contract worker, taking advantage of rolling monthly lease contract is just what’s needed, as it allows access to supercar use when it can be afforded, then when it’s quieter the car is simply returned, or exchanged for a lower value model until things pick up again.
PB Supercars has been operating from its Canary Wharf offices since 2006 and has amassed a client base of over 6000 during this period, through both short term weekend hires and short term leasing. The company currently boasts marques from Aston Martin, Audi, Bentley, Ferrari, Lamborghini, Maserati, Mercedes, Mclaren, Jaguar, Porsche and Rolls Royce.
For more information contact www.pbsupercars.com
Tel: 0207 241 6854.
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