In Review; Ford Ranger Wildtrak

A massive thanks to our local business leasing customer, Orange Groundwork Limited, for sending pictures of their brand-new pickup trucks. Say hello to the Ford Ranger Diesel Pick Up Double Cab Wildtrak 3.2 TDCi 200 Auto. Our customer, based in Leigh (Greater Manchester), is a specialist in groundworks, civils, drainage and sewerage connections and is one our areas fastest growing companies.

It’s an absolute pleasure to work alongside local businesses who are enjoying great success based on hard work and local investment, in particular their focus on securing local labour.

In terms of the vehicles shown, these were based on the following configuration:

· Pride Orange
· Caliber cloth/Journey grain leather – Ebony
· 18″ Machined alloy wheels

AND

· Panther Black
· Caliber cloth/Journey grain leather – Ebony
· 18″ Machined alloy wheels

The Ranger Wildtrak is one of the best-looking (and most popular) pickup trucks which you can have in the UK. There is a great level of specification on this beauty including electric windows, heated front/rear window, privacy glass, Bluetooth, rear view camera, reverse sensors, 8” colour screen, heated door mirrors (with memory function), 2 x 12V power outlets, sports bars, illuminated glovebox, premium carpet mats, load area and internal lights, tie down rails and rope hooks, 8 way adjustable seats (with heating and lumbar functions), 18” machined alloys wheels, cruise control and a load liner. In terms of additional factory options, consider the front parking sensors – this is a big truck and you just might need them!

On the technical side, the 3196CC 6 speed auto engine delivers a favourable 200ps. This delivers a combined MPG of 32.1 and 0-62 time of 10.4 seconds. On the servicing side, its every 12 months or 6,000 miles, whichever is sooner.

Unlike cars, you don’t have a P11d as company car tax calculations does not operate in the same way with pickup trucks and LCV’s.

With commercial vehicle leasing we tend to see customers take one of two finance products: 1) contract hire and 2) finance lease.

For the trucks shown above, the customer elected to go for number 2 (finance lease) as they needed a long-term purchase-style product. Finance lease is popular as it does offer an ownership style product (with the associated risks and rewards) where a customer can utilise a low initial renal, affordable monthly rentals and a final rental. The VAT is not charged on the cost of the vehicle; it is charged on the rentals. Where you do need to be mindful is that the final rental/estimated sales value, is calculated based on the annual mileage you supply to the credit broker. You need to accurately provide a mileage which reflects what you are covering, so to avoid a situation where the vehicle is worth significantly less than the final rental i.e. negative equity. As you incur the risks of ownership, any difference between the actual sales process and the final rental will be your responsibility.

With contract hire on a truck, you are not utilising a product which will facilitate ownership. What you are doing is using a vehicle for a predetermined amount of time – 2, 3 or 4 years – with a view to returning this at the end of the contract. As the finance company is the registered owner of the vehicle in this situation, it is their responsibility to manage any shortfall in sales proceeds vs anticipated value.

So which pickup truck would be your preference to lease? Would you have the Ranger, the VW Amarok, the Nissan Navara or the Mitsubishi L200?