Owning your fleet used to be a viable option for cash-rich companies but the recent steady fall in second hand car values is leaving fleet owners exposed to unexpected losses. As a result, increasing numbers of companies are turning to contract hire instead. Our Purchase and Leaseback facility allows these companies to switch there entire fleet immediately to contract hire without changing a single vehicle.
How does it work?
We can buy your existing fleet off you using recognized industry guidelines for valuations. We retain ownership of the vehicles but lease them straight back to you. You run the vehicles under a contract hire agreement that suits you and take on all the risk of resale and falling second-hand vehicle values.
- Releases capital tied up in the fleet, which can be redirected to your core business
- Eliminates the risk of depreciation and hassle of disposal
- Budgeting is simplified as you pay a fixed monthly amount under your contract hire agreement
- Added options of including maintenance costs, relief vehicles and breakdown assistance in the fixed monthly payment
- Offers VAT savings by removing your fleet from the balance sheet
- Improves your company’s borrowing potential
- Allows an immediate change to contract hire without any operational implications for your vehicles and drivers
Purchase and Leaseback has all the benefits of contract hire and can make far more financial and administrative sense than a gradual changeover to contract hire as and when vehicles are replaced.
Our Purchase and Leaseback scheme allows you to use our considerable commercial power and expertise to make your fleet run more efficiently and cost-effectively.