In the first quarter of 2009, lease car prices were 4.3 percent higher than one year previously. This is mainly due to a steep drop in prices for second-hand cars. The increase in lease prices is tempered by tax reduction on new passenger cars and motorcycles (BPM).
Prices lease cars and used cars
Cheaper second-hand cars push up lease prices
In the first quarter of 2009, second-hand cars were more than 8 percent cheaper than one year ago. This affects the costs of lease cars. After termination of the lease contract, lease companies sell their cars, but used cars currently fetch lower prices than lease companies have anticipated. As a result, lease companies face higher costs, which they pass on to their customers.
BPM tax reduction curbs increase in lease prices
In February 2008, the BPM tax rate was lowered from 45.2 to 42.3 percent. This had a downward effect on lease prices in the first quarter of 2008. Subsequently, the effect of cheaper second-hand cars began to push prices up. On 1 January 2009, the BPM rate was reduced further to 40 percent. Apart from the BPM tax reduction, the lower interest rate also had a dampening effect on rising lease prices.
Lease prices lorries down, lease prices vans up
Lease prices of lorries dropped by 2.3 percent in the first quarter of 2009 relative to one year previously. This is predominantly caused by a reduction of the number of lease contracts and the prevailing lower interest rate. Lease prices for vans rose by nearly 3 percent, whereas one year ago they dropped by 0.6 percent. The lower residual value also plays a part in this respect.