Belgian second-hand lease platform Lizy expands to the Netherlands

Lizy, the Brussels-based second-hand car lease platform, is expanding its activities to the Netherlands. The company aims to make car leasing more accessible, sustainable, and cheaper. And the formula is working.

In five years, Lizy has convinced more than 4,000 customers to opt for a young second-hand car instead of a new car. Lizy previously expanded to France and now also wants to conquer the Netherlands.

Lizy was founded in 2019 by Sam Heymans and Vincent Castus, two entrepreneurs who wanted to simplify car leasing. The company’s baseline is not without reason: ‘easy leasing.’

Greener mobility

“Leasing a car is still slow, expensive, and analog. We see it differently,” the two managers say. They are convinced their online formula, and lower rates will also appeal to Dutch customers.

Lizy benefits from the low residual values ​​of electric cars, which are killing traditional leasing companies. While the rates for new lease cars have risen rapidly in recent years due to higher list prices, more expensive maintenance, and higher interest rates, the residual values ​​of electric cars have plummeted.

Lower rates

Lizy mainly buys second-hand electric cars that are, on average, one year old. These have already been largely written off. This way, the company can offer young second-hand cars at much lower rates.

The scale-up also responds to the growing demand for greener mobility. In 2024, 75% of the contracts that LIZY concluded were for electric cars.

Longer lifespan

“Leasing a new electric car is often too expensive for smaller companies,” says Heymans. “Our wide range of used electric cars also allows them to ‘green’ their company’s mobility.”

More than half of Lizy’s second-hand cars are leased a second time after their first contract. This extends their lifespan, which is far more sustainable than producing more new cars. This approach has already earned the company several sustainability awards.

Financial results for 2024 are not yet available, writes newspaper De Tijd, but according to Heymans, turnover doubled last year to more than 20 million euros, and operational profit is being booked.