Citygate launches vehicle leasing business

Citygate Holdings is launching  a new company, Citygate Leasing, to offer leasing to both corporate and retail customers.

Having secured FCA approval, Citygate Leasing is working with a panel of funding partners to offer personal contract hire (PCH) and business contract hire (BCH).

However, while the initial business model of Citygate Leasing is to act as a leasing broker and not to take vehicles on its own book, given the “strength and operational capabilities” of the Citygate Group, it told Fleet News that its business model will “undoubtedly evolve”.

Citygate Leasing will cover UK, but there will be a particular focus on acquiring new corporate customers across London and the Home Counties areas, which are synonymous with the Citygate brand.

With access to a large network of dealer groups for vehicle ordering and processing, Citygate Leasing offers multiple car and light commercial vehicle (LCV) brands, as well as a salary sacrifice solution for businesses who are considering the benefits of electric vehicle (EV) leasing, as part of a wider staff rewards scheme. 

Initially, the business will deliver new vehicles only but is also exploring options with selected partners to introduce secondary leasing of approved used stock. 

Citygate managing director, Greg Taylor (pictured), said: “Leasing has become an increasingly popular choice for consumers looking for cost-effective and convenient vehicle and maintenance solutions, so the launch of our new leasing business aims to ensure that Citygate continues to offer the breadth of products and services which meet the needs of both retail and corporate customers.”

Established in 2006, Citygate operates 18 dealerships located in London, Chalfont, High Wycombe, Reading, Ruislip, Slough, Twickenham, Watford and Wooburn Green.

Employing more than 650 staff, the company represents Volkswagen, VW Commercial Vehicles, Škoda, Seat, Cupra, GWM Ora and Kia for new, used and aftersales. 

It also operates five bodyshops, two standalone PDI centres, a new car storage facility and five TPS outlets.