Member Article

Online car leasing entrepreneurs behind Orbit Leasing celebrate successful first summer

The two north east entrepreneurs behind online vehicle leasing broker, Orbit Leasing, are celebrating a successful first summer in business.

Orbit Leasing on Westgate Road was launched in June by Ryan Temple and Phil More with the aim of providing customers with affordable access to car and van brands through leasing deals, while saving them hire purchase fees.

Working with major dealerships, including BMW, Audi and Volkswagen, Ryan and Phil have capitalised on their two decades’ worth of experience in the car industry to help broker leasing deals for customers by only targeting car sellers who will be able to offer customers discounts.

Ryan believes Orbit is ideally placed to capitalise on what he terms a ‘cultural shift’ as consumers in the UK have marked an increasing trend towards leasing deals over car ownership.

He said: “People’s views towards car ownership in this country are starting to change. Although it isn’t like the situation in the USA just yet, where 40% of the country’s cars are leased, we spotted a definite gap in the market and wanted to provide people with amazing deals on cars based on a fair, monthly package that they can manage just like their mobile phones.

“More and more people recognise that a car’s value can depreciate significantly over time and when they come to the end of their Hire Purchase deal, their vehicles aren’t worth all that much. The incentives for ownership are beginning to be replaced by a cultural shift towards great leasing deals and we’re here to offer that service.”

After a successful first summer in business, the pair are now aiming for 50% year-on-year sales growth by this time next year, with the ultimate aim of hiring more staff members to provide an even more personal service for customers.

Touching upon Orbit’s future plans, Ryan added: “By the end of the financial year we will be exactly where we want to be and we’ll hopefully increase our sales by 50% year on year.

“We hope that in the near future we will be able to employ more members of staff to help with the day to day running of the business to give our customers the ultimate leasing experience.”