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Sogo launches equity release service

Sogo launches equity release service

If you are stuck in a long-term lease or similar finance agreement you will now be able to change vehicles with far greater simplicity and flexibility thanks to a new equity release scheme that SOGO has just launched.

SOGO has seen businesses seeking greater flexibility in lease terms as part of the move to electric vehicles. It launched the equity release programme to help companies make the transition earlier.

At SOGO, we have seen the number of EVs in our fleet of vehicles grow to 40% through 2021, with an average lease term of six months.

SOGO Managing Director Karl Howkins said: “The shift to electric and hybrid vehicles is happening quicker than anyone expected. Companies are seeking to make the change now and don’t want to be stuck in long-term arrangements. Our equity release programme will enable companies and drivers to access the vehicle they want when they need it.”

The equity release scheme provides a fully managed service where Sogo will handle negotiations and paperwork with the existing finance provider.

We have launched a series of innovations since launching in January. In a first for the UK vehicle leasing and rental industry, SOGO has teamed up with BP to operate a carbon-neutral fleet across petrol, diesel and EVs. It joined energy giant BP’s Target Neutral programme to help fleet customers measure, reduce and offset their carbon emissions.

We offer an all-inclusive, flexible monthly leasing service that offers no upfront payments, servicing, breakdown cover and insurance. In May, we launched a monthly salary sacrifice scheme to unrivalled levels of flexibility.

If you would like to find out more about our new equity release service please contact us.