Many small businesses still own “just in case” vehicles, holding onto cars and vans to ensure an employee can access a vehicle at short notice or the business can cover periods of peak demand. This unnecessary cost impacts many businesses operating in Northern Ireland.
Investing in the purchase of a few vans or cars seems like a smart move when business is booming but these “assets” simply tie-up cash flow when not in use. The traditional alternative to outright purchase is vehicle leasing. But with this option comes long term commitment and the danger of early exit penalties if circumstances change. This often forces small businesses to retain vehicles they don’t need.
Long term rental is the smart solution SME businesses have been waiting for. It’s a more cost effective alternative to leasing because there are no penalties for early return, meaning companies can access the vehicles they need, when they need them. And with no lengthy contracts, long term rental allows a business to up or downscale its fleet in line with the peaks and troughs of their own fortunes. Small business owners also have the certainty of cost they need, combined with new vehicle reliability, inclusive servicing and maintenance, generous mileage allowances and no requirement to commit to lengthy contract.
Another advantage of long term hire is that the vehicles supplied are new or nearly new and will therefore include the latest technology and fuel efficiency which many savvy businesses are looking for. With 24-hour breakdown roadside assistance and recovery included as standard and easy access to replacement vehicles should the vehicle be off the road for any reason, employers and their staff are guaranteed additional peace of mind.
With employees given the choice of a range of new models and retaining the same vehicle for periods of 3 to 12+ months, long term rental is an excellent solution for many. Added to this is enhanced business compliance with duty of care as employees will be driving well maintained, roadworthy vehicles at all times and can become more familiar with the vehicle, ensuring a safer driving experience. Plus, staying in the same vehicle offers business owners control over the P11D value.
Today’s long term rental services ensure that businesses do not have to own a depreciating asset “just in case”. Working with a rental supplier which acts in partnership with a wide range of businesses and takes time to understand the mobility requirements of each business customer can only be beneficial. Those businesses which still harbour “just in case” vehicles, largely unused, yet depreciating in value with every passing day do have a more flexible and cost-effective solution – a fleet supply partner prepared to meet the specific demands and budget restrictions of any business willing to open its eyes to alternative and better suited fleet options.
For additional information on Europcar’s range of fleet solutions or to arrange a meeting to discuss the specific requirements of your business, please contact Mark Maguire at [email protected] or telephone 07969 109425.