Becoming a car leasing broker

[KevinCamaroSS]

Oh no, not another one.

[petr0lh3ad]

singlecoil said:

petr0lh3ad said:

I was wondering whether any of you knowledgeable people could help me...

Is there anything you know about the business at all? What makes you think it would be viable for you, apart from simply wanting to do it?

You are asking a lot of questions but providing no information at all on yourself, your circumstances and your skill set.

Really not a useful response at all.

I didn't realise I had to give a synopsis on myself and my skills in order to get some advice on how the leasing process works.
I have the IT skills and have experience with lease deal data but am just unaware as how to source deals and finance - the main part of the business admittedly but I feel if I understand this part then I can make a real go of it.

I am in the research stage and have already looked into FCA compliance and BVRLA membership and operational code of conduct, etc...
I'm not intending to be another "bedroom broker" - I'm looking to go fully legit.

Any useful information on the process would be much appreciated.

Thanks,

Brian

[singlecoil]

petr0lh3ad said:

singlecoil said:

petr0lh3ad said:

I was wondering whether any of you knowledgeable people could help me...

Is there anything you know about the business at all? What makes you think it would be viable for you, apart from simply wanting to do it?

You are asking a lot of questions but providing no information at all on yourself, your circumstances and your skill set.

Really not a useful response at all.

I didn't realise I had to give a synopsis on myself and my skills in order to get some advice on how the leasing process works.
I have the IT skills and have experience with lease deal data but am just unaware as how to source deals and finance - the main part of the business admittedly but I feel if I understand this part then I can make a real go of it.

I am in the research stage and have already looked into FCA compliance and BVRLA membership and operational code of conduct, etc...
I'm not intending to be another "bedroom broker" - I'm looking to go fully legit.

Any useful information on the process would be much appreciated.

Thanks,

Brian

You're welcome.

Let me give you a tip, Brian. Think carefully about the questions you ask. Don't ask open ended questions the answers to which would fill several closely written pages at least. Divide the subject up into the various categories, do some research yourself, then when you have a basic understanding of that part of the subject ask specific questions about it. You are much more likely to get useful answers that way.

[KevinCamaroSS]

In simple terms, you source and finance a car, then you lease it to your customer using some sort of finance model. The main issues are in the financing because you would be subject to all the FCA regulations etc.

[petr0lh3ad]

singlecoil said:

You're welcome.

Let me give you a tip, Brian. Think carefully about the questions you ask. Don't ask open ended questions the answers to which would fill several closely written pages at least. Divide the subject up into the various categories, do some research yourself, then when you have a basic understanding of that part of the subject ask specific questions about it. You are much more likely to get useful answers that way.

And yet another pointless contribution to the forum from singlecoil.

In the time you've taken to slate my approach to question asking you could of perhaps provided some useful information on the leasing process. Which leads me to believe that you don't actually know the answer to any of my original questions yourself. So my new open ended question is...why are you responding to a post that you know nothing about?

Does anyone else have any useful feedback on acquiring deal information and finance rates from the likes of LEX autolease and LeasePlan?
Also, any experience of CALAS would be good to know about - I believe they provide deals direct through their software from a network of dealerships and manufacturers?

The research continues...

Many thanks,

Brian

[singlecoil]

petr0lh3ad said:

singlecoil said:

You're welcome.

Let me give you a tip, Brian. Think carefully about the questions you ask. Don't ask open ended questions the answers to which would fill several closely written pages at least. Divide the subject up into the various categories, do some research yourself, then when you have a basic understanding of that part of the subject ask specific questions about it. You are much more likely to get useful answers that way.

And yet another pointless contribution to the forum from singlecoil.

In the time you've taken to slate my approach to question asking you could of perhaps provided some useful information on the leasing process. Which leads me to believe that you don't actually know the answer to any of my original questions yourself. So my new open ended question is...why are you responding to a post that you know nothing about?

I don't need to know about it, Brian old chap.

But I do know a lot about how to ask questions. You, on the other hand, do not. You're getting better under my careful tutelage, but you're not there yet.

[KevinCamaroSS]

petr0lh3ad said:

And yet another pointless contribution to the forum from singlecoil.

Not in the slightest. Responses like yours will annoy people who may be willing to help.

petr0lh3ad said:

Does anyone else have any useful feedback on acquiring deal information and finance rates from the likes of LEX autolease and LeasePlan?


Brian

Have you looked at their websites. They may not give you a % figure but you can do a rough calculation using purchase and sale values, months, payments etc.

[garyandmal]

Hi, my colleague and I are both Driving Instructors and lease our cars off contract hire companies specializing in driving instructor vehicles. we have researched these companies and have found out that there are no such companies in Wales, where we live. we would like to start up our own contract hire company in Wales but would like some advice on how to start this up. Any advice would be much appreciated. Thanks, Gary and Mal.

[Yipper]

I want to start a new leasing firm.

Can all you existing leasing firms out there tell me your trade secrets and insider corporate operations, so I can set up my own competing business and try to pinch your customers.

Thanks a lot

[Vaud]

garyandmal said:

Hi, my colleague and I are both Driving Instructors and lease our cars off contract hire companies specializing in driving instructor vehicles. we have researched these companies and have found out that there are no such companies in Wales, where we live. we would like to start up our own contract hire company in Wales but would like some advice on how to start this up. Any advice would be much appreciated. Thanks, Gary and Mal.

What is the business advantage of being based in Wales for your market? (there are a couple just on the English side of the Welsh border already)
Aren't most vehicles trailered on delivery anyway? (reducing the advantage of a local presence)
Can the market support another provider?
How are your competitors operating?
What kind of scale do they have?
What is the size of your market?

You need to understand these first before looking at setup...?

[einstein75]

garyandmal said:

Hi, my colleague and I are both Driving Instructors and lease our cars off contract hire companies specializing in driving instructor vehicles. we have researched these companies and have found out that there are no such companies in Wales, where we live. we would like to start up our own contract hire company in Wales but would like some advice on how to start this up. Any advice would be much appreciated. Thanks, Gary and Mal.

You may need to do more research if you've missed these 2 contract hire companies in Wales sinclair-fl.co.uk & daysfleet.com

[Vaud]

einstein75 said:

You may need to do more research if you've missed these 2 contract hire companies in Wales sinclair-fl.co.uk & daysfleet.com

He did say that they want to specialise in Driving Instructor Vehicles though, not contract hire.

[einstein75]

Vaud said:

einstein75 said:

You may need to do more research if you've missed these 2 contract hire companies in Wales sinclair-fl.co.uk & daysfleet.com

He did say that they want to specialise in Driving Instructor Vehicles though, not contract hire.

I know you're not defending them but I reckon they need to think again, somewhat restricted market demographic they're looking at!

[Vaud]

einstein75 said:

I know you're not defending them but I reckon they need to think again, somewhat restricted market demographic they're looking at!

Hence my questions to them... meant in a constructive way.

[thomas-i80a0]

ModernAndy said:

I used to do this, would be happy to help you out including pointing you in the right direction to get accounts.

It's an alright business for what you're after but for me it's just too difficult to scale so my current businesses are car parts and other e-commerce.

You'll need to get a consumer credit licence unless you're dealing only with ltd companies.

Send me an email if I can help.

Hi Andy,

I am currently looking to set up a leasing operation and would really appreciate any info about building relations with brokerages to sell on behalf of?

My email is [e-mail]

Thanks

[Camelot1971]

thomas-i80a0 said:

ModernAndy said:

I used to do this, would be happy to help you out including pointing you in the right direction to get accounts.

It's an alright business for what you're after but for me it's just too difficult to scale so my current businesses are car parts and other e-commerce.

You'll need to get a consumer credit licence unless you're dealing only with ltd companies.

Send me an email if I can help.

Hi Andy,

I am currently looking to set up a leasing operation and would really appreciate any info about building relations with brokerages to sell on behalf of?

My email is [e-mail]

Thanks

That email was from 5 years ago

[abid2111]

ModernAndy said:

I used to do this, would be happy to help you out including pointing you in the right direction to get accounts.

It's an alright business for what you're after but for me it's just too difficult to scale so my current businesses are car parts and other e-commerce.

You'll need to get a consumer credit licence unless you're dealing only with ltd companies.

Send me an email if I can help.

Hi any chance of help on opening a leading company?

[abid2111]

ModernAndy said:

I used to do this, would be happy to help you out including pointing you in the right direction to get accounts.

It's an alright business for what you're after but for me it's just too difficult to scale so my current businesses are car parts and other e-commerce.

You'll need to get a consumer credit licence unless you're dealing only with ltd companies.

Send me an email if I can help.

can you email me on [e-mail]

[andyb28]

My company provides bespoke systems to the leasing car market.

If you have any questions about what systems you will need (CAP data for example), feel free to ask.

[abid2111]

ModernAndy said:

I used to do this, would be happy to help you out including pointing you in the right direction to get accounts.

It's an alright business for what you're after but for me it's just too difficult to scale so my current businesses are car parts and other e-commerce.

You'll need to get a consumer credit licence unless you're dealing only with ltd companies.

Send me an email if I can help.