Car lease rates considerably down

24/04/2008 15:00

In the first quarter of 2008, car lease rates dropped by nearly 2 percent relative to the previous quarter. This is mainly due to a reduction in the Tax on Passenger Cars and Motorcycles (BPM) in February 2008 and the introduction of energy labels for cars.

Lease prices cars, vans and lorries

Lease prices cars, vans and lorries

Lower prices mainly due to BPM rate cut

Early 2008, lease rates for cars dropped by nearly 2 percent. Small cars in particular became cheaper. Lease rates have not dropped so drastically since 2001. The main cause is the BPM tax cut from 45.2 to 42.3 percent on 1 February 2008.

The BPM rate also depends on the energy label classification. In the future, energy labels are crucial to higher or lower BPM rates. Small cars are usually more fuel-efficient, resulting in a lower BPM rate. Other factors are the reduction of the average catalogue price of cars and the falling interest rate. In general, lease rates dropped by more than 1 percent in the first quarter.

Change in lease prices cars by size, 1st quarter

Change in lease prices cars by size, 1st quarter

Rising motor fuel prices curb price cuts

The rates of cars with a fuel advance payment in the lease contract, have dropped more slowly than the rates for cars without a fuel advance payment. This is caused by an increase in motor fuel prices in the first quarter of 2008. This limited the effect of falling lease rates. The price of diesel fuel in particular rose dramatically over the first quarter of 2008.

Change in lease prices cars by type of fuel, 1st quarter 2008

Change in lease prices cars by type of fuel, 1st quarter 2008

Vans also cheaper, lorries more expensive

Lease prices for vans also dropped in the first quarter of 2008. This was also caused by the falling interest rate.

The rising demand for lorries pushed up the lease rates for this type of vehicles. This becomes evident, if the number of lorries sold is taken into account. Over the first two months of 2008, more lorries were sold than one year ago.

Koen Link