Brexit – How the deal has changed vehicle leasing.

KirstenFebruary 11, 2021

It feels a bit strange talking about January 2020 when we are halfway through February 2021, but we need to take a quick trip down memory lane for a second.

At that time the main thing on nearly everyone in the UK’s mind was Brexit. Will a deal be set? What if the Government can’t agree with the EU? Will everything become incredibly expensive? Will we dread turning on the news?

Well, we did dread turning on the news pretty quickly, not just because of Brexit but because of the deadly disease known as Covid 19. And rightly so it took over the news, so much so that many of us forgot that the Government hadn’t sorted out a deal yet. 12 months went past, 12 months when the news talked about many things other than covid but finally around October Brexit started to creep back into our lives and we remembered with a shock that not only were we having to stay safe and protect the NHS and Keyworkers, but we were also having to figure out if we will start 2021 with a deal.

October came and finished with zoom trick or treaters, November we started to put up the Christmas Trees early to bring some cheer and sparkle back into our lives, December we avoided the shops and bought all our gifts from apps while multi-tasking with home-schooling. And at UK Carline we finished on 23rd December for 2weeks (not the norm at all) for a well-needed and earned break. But we left for the festive break realising that time was running out. We still didn’t have a deal.  What’s going to happen when we come back on January 4th and there is no deal. Will everyone want to cancel their orders? Will everything from leasing contract quotes to vehicle’s go up in price? What is going to happen?

So, it was with great relief when Prime Minister Boris Johnson announced at 13:44 on 24th December 2020 that we had a deal! A DEAL!!!!!!

Finally, we could all relax. We might not have known exactly what this deal held, but we knew that we would be safe.

Now being 2 months into the year with this deal, how have this affected consumers leasing a vehicle?

Well simply put it’s not. The deal has allowed vehicles to be brought in under the same trading rules as before we left the EU. The list price of late 2020 will be the same going into 2021.

We have seen on the news a lot of businesses and companies are still getting used to the new paperwork and some delays were expected in the transition, but many of the manufacturers started to stockpile vehicles and parts just for this scenario (thank heavens for foresight).

Planning a holiday and want to take your leased vehicle with you? Well, this has changed a little. You’ve always needed to tell your funder when you were going abroad so that they could give you the relevant documents and information for your travels, and this you still need to do, but you will also need to now contact your insurance provider and request a Green Card. This is to prove that you have a cover. So not a huge change, but a change, nevertheless.

And there we have it, February 2021. We are still in lockdown; the virus is still taking over the world and we are still trying to home-school while working as best we can. But what matters is that we are all safe, the vaccine program is going well, and there is no need to worry about leasing your next new vehicle.

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