Car leases and subscriptions with a yearly km allowance
Run long-term car leases and monthly subscriptions on the same fleet as your daily hires. Each has a term, a monthly fee, a yearly allowance of kilometres or hours with a charge for each one over, renewal and buy-out.
PLANSFrom Growth
The problem it solves
- Leases live in a spreadsheet next to the rental system, so the same car can be promised to a lease and a weekend hire.
- Nobody checks the odometer on the lease's anniversary, and the extra 8,000 km are never charged.
- A lease ends without anyone noticing, and the car stays with the customer on the old terms for months.
How it works
- Make a rental order for the car as usual. On its Lease tab switch on Lease / Subscription, choose Lease or Subscription, and give the Term (months) and the Monthly Fee.
- Under Usage and Buy-Out, give the Allowance per Year and the price of Each Unit Over. Give the Meter at Start (empty takes the car's latest reading), Renews by Itself and the Buy-Out Price.
- Confirm. The car is booked for the whole term, the order's rent becomes the monthly fee times the term. Term Ends and the Next Usage Review a year on are set. Bill it with a monthly billing cycle.
- Each day SmartMy Rental checks the leases. On the review date, use over the yearly allowance is charged at Each Unit Over on the next bill. The next review is set a year on.
- Take a lease that does not renew by itself. A month before its end, the salesperson gets a to-do to renew it or plan the return, and the customer is told. A lease that renews by itself goes on for another term.
- When the customer buys the car, a Rent Manager presses Buy-Out, checks the price and the day, and presses Sell the Car.
Everything it does
On the lease
- Lease / Subscription, and the kind Lease or Subscription
- Term (months): 12 to start with; Monthly Fee: needed to confirm; Term Ends: set on confirm
- Counted In: km, miles or engine hours, from the car
- Allowance per Year, Each Unit Over, Meter at Start, Meter at Last Review, Next Usage Review, Buy-Out Price
- Filter Leases and Subscriptions on rental orders
The yearly usage review
- Reads the car's latest odometer or hour meter, from the signed checks
- Use since the last review, less the yearly allowance, is charged at Each Unit Over on the next invoice
- With no allowance or no price over, nothing is charged
End, renewal and buy-out
- Renews by Itself: on the end date the term starts again for the same number of months
- Not renewing: a to-do for the salesperson one month before Term Ends
- Buy-Out: Rent Managers, on running leases; the price starts from the Buy-Out Price
- Sell the Car: the car comes back on the order, the customer gets an invoice for it, and it leaves the fleet
- With fixed assets (Scale) the car's asset is sold instead, with depreciation to the day and the gain or loss
Subscriptions
- A subscription is a lease marked as a subscription, with the same term, fee, allowance and renewal
- Swapping a car, notice and lock-in work as on any long hire
- Notice (days) and Lock-in Until print on the agreement, with an Early End charge for short notice
Who uses it
Lease desk (Rent User)Sets up leases and subscriptions, renews them and plans returns.
Rent ManagerAgrees fees and allowances, and sells the car on a buy-out.
Where you use it
- Web: the rental order's Lease tab, the Buy-Out button, and the filter Leases and Subscriptions in Rental > Bookings > Rental Orders
- Customer pages and the SmartMy Rental app: the lease is one of the customer's rentals, with its invoices
- Not built: a lease quote with residual values or interest; you type the monthly fee you agreed
What you control
Settings
- Term (months): 12 to start with
- Renews by Itself: off to start with
- Meter at Start: the car's latest reading when left empty
- The review job: runs every day
Notifications
- Rental Lease Ending: to the customer a month before a lease that does not renew by itself ends
- Rental Lease Renewed: to the customer when a lease renews by itself
- Both in the app and by email, with WhatsApp and SMS from your message credits (Growth). They go out at once, and a person can switch off a channel, never the message
Works with
SmartMy TransitChecks start from the tracker's odometer and engine hours, the readings the yearly review uses.
Questions
Can we run leases and daily hires on the same fleet?
Yes. A lease is a rental order that books the car for the whole term. So the planning board and the booking page see it as taken.How is the extra mileage charged?
Once a year, on the review date, use over the yearly allowance is charged at your price for each kilometre, mile or hour over. It goes on the next invoice.What happens when a lease ends?
If it renews by itself, it runs another term. If not, the salesperson gets a to-do a month before, and the customer is told, so you can renew it or plan the return.Is a subscription different from a lease?
It uses the same term, fee and allowance. It is marked as a subscription so your team treats it as monthly, swappable and ended with notice.Related features
HIRE ORDERSLong hires with notice period, lock-in and customer sitesMonthly and open-ended hires carry a notice period and a lock-in date. When a customer calls off short or ends before the lock-in, the rent of the time short is worked out for you. It waits as an Early End charge for a manager to confirm. Each hire can be booked to the customer's own site with its PO.BILLING AND PAYMENTSBilling in advance or in arrears, with Bill NowBill short hires at once with Bill Now, and long hires on a weekly, monthly, quarterly, yearly or end-of-hire cycle. Bill in advance or in arrears, grouped as you like. Rent stops at the call-off or return, and time billed ahead and not used comes back as a credit.LONG HIRES AND PARTNERSRent to ownLet a customer rent a car or a machine with the option to buy it. A share of what they pay counts toward an agreed price, and the order shows what is left to pay. Buy Now sells the car. The invoice is made, the car leaves the fleet and, with fixed assets, the asset is sold with its gain or loss.FLEET VALUEFixed assets: register, depreciation, tax book and work in progressEach car or machine can be a fixed asset in your books. It is depreciated month by month, by time or by the hours it was out on hire. The register also keeps your other assets, a tax book for income-tax depreciation by block, and capital work in progress.SERVICE AND REPAIRSService due by kilometres, hours or daysEach car or machine has its service plans, due by kilometres or miles, engine hours or days, whichever comes first. The meters come from every signed check. The depot manager gets a to-do when a service is near, and you can stop an overdue car from going out.HIRE ORDERSExtend, swap, call off, roll on and overdue hiresChange a hire while it runs: extend or shorten it, or swap the car through return and handover checks. Call it off with a call-off number, and nothing is charged after that time. Hires that roll on go on by themselves, and overdue cars are flagged every hour.
See your fleet on it.
Tell us how many cars or machines you hire out, from how many depots, and how bookings reach you today. We will set up your fleet with you on SmartMy Rental.