Best of the Week
Most Popular
1.The Gallery of Crowd Behavior: Goodbye Stock Market All Time Highs - Doug_Wakefieldth
2.Tesco Meltdown Debt Default Risk Could Trigger a Financial Crisis in Early 2015 - Nadeem_Walayat
3.The Trend Every Nation on Earth Is Pouring Money Into - Keith Fitz-Gerald
4.Do Tumbling Buybacks Signal Another Stock Market Crash? - 26Mike_Whitney
5.Could Tesco Go Bust? How to Save Tesco from Debt Bankruptcy Risk - Nadeem_Walayat
6.Gold And Silver Price - Respect The Trend But Prepare For A Reversal - Michael_Noonan
7.U.S. Economy Faltering Momentum, Debt and Asset Bubbles - Lacy Hunt
8.Bullish Silver Stealth Buying - Zeal_LLC
9.Euro, USD, Gold and Stocks According to Chartology - Rambus_Chartology
10.Evidence of Another Even More Sweeping U.S. Housing Market Bust Already Starting to Appear - EWI
Last 5 days
Fed Ends QE? Greenspan Says Gold “Measurably” “Higher” In 5 Years - 30th Oct 14
Apocalypse Now Or Nirvana Next Week? - 30th Oct 14
Understanding Gold's Massive Impact on Fed Maneuvering - 30th Oct 14
Europe: Building a Banking Union - 30th Oct 14
The Colder War: How the Global Energy Trade Slipped From America's Grasp - 30th Oct 14
Don't Get Ruined by These 10 Popular Investment Myths (Part VIII) - 29th Oct 14
Flock of Black Swans Points to Imminent Stock Market Crash - 29th Oct 14
Bank of America's Mortgage Headaches - 29th Oct 14
Risk Management - Why I Run “Ultimate Trailing Stops” on All My Investments - 29th Oct 14
As the Eurozone Economy Stalls, China Cuts the Red Tape - 29th Oct 14
Stock Market Bubble Goes Pop - 29th Oct 14
Gold's Obituary - 29th Oct 14
A Medical Breakthrough Creating Stock Profits - 29th Oct 14
Greenspan: Gold Price Will Rise - 29th Oct 14
The Most Important Stock Market Chart on the Planet - 29th Oct 14
Mysterious Death od CEO Who Went Against the Petrodollar - 29th Oct 14
Hillary Clinton Could Be One of the Best U.S. Presidents Ever - 29th Oct 14
The Worst Advice Wall Street Ever Gave - 29th Oct 14
Bitcoin Price Narrow Range, Might Not Be for Long - 29th Oct 14
UKIP South Yorkshire PCC Election Win is Just Not Going to Happen - 29th Oct 14
Evidence of New U.S. Housing Market Real Estate Bust Starting to Appear - 28th Oct 14
Principle, Rigor and Execution Matter in U.S. Foreign Policy - 28th Oct 14
This Little Piggy Bent The Market - 28th Oct 14
Global Housing Markets - Don’t Buy A Home, You’ll Get Burned! - 28th Oct 14
U.S. Economic Snapshot - Strong Dollar Eating into corporate Profits - 28th Oct 14
Oliver Gross Says Peak Gold Is Here to Stay - 28th Oct 14
The Hedge Fund Rich List Infographic - 28th Oct 14
Does Gold Price Always Respond to Real Interest Rates? - 28th Oct 14
When Will Central Bank Morons Ever Learn? asks Albert Edwards at Societe General - 28th Oct 14
Functional Economics - Getting Your House in Order - 28th Oct 14
Humanity Accelerating to What Exactly? - 27th Oct 14
A Scary Story for Emerging Markets - 27th Oct 14
Could Tesco Go Bust? How to Save Tesco from Debt Bankruptcy Risk - 27th Oct 14
Europe Redefines Bank Stress Tests - 27th Oct 14
Stock Market Intermediate Correction Underway - 27th Oct 14
Why Do Banks Want Our Deposits? Hint: It’s Not to Make Loans - 26th Oct 14
Obamacare Is Not a Revolution, It Is Mere Evolution - 26th Oct 14
Do Tumbling Buybacks Signal Another Stock Market Crash? - 26th Oct 14
Has the FTSE Stock Market Index Put in a Major Top? - 26th Oct 14
Christmas In October – Desperate Measures - 26th Oct 14
Stock Market Primary IV Continues - 26th Oct 14
Gold And Silver Price - Respect The Trend But Prepare For A Reversal - 25th Oct 14
Ebola Has Nothing To Do With The Stock Market - 25th Oct 14
The Gallery of Crowd Behavior: Goodbye Stock Market All Time Highs - 25th Oct 14
Japanese Style Deflation Coming? Where? Fed Falling Behind the Curve? Which Way? - 25th Oct 14
Gold Price Rebounds but Gold Miners Struggle - 25th Oct 14
Stock Market Buy the Dip or Sell the Rally - 25th Oct 14
Get Ready for “Stupid Cheap” Stock Prices - 25th Oct 14
The Trend Every Nation on Earth Is Pouring Money Into - 25th Oct 14 - Keith Fitz-Gerald
Bitcoin Price Decline Stopped, Possibly Temporarily - 25th Oct 14

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Stocks Epic Bear Market

Have a Fleet of Cars or Vans? 3 Ways to Save Money

Companies / Business Jan 17, 2014 - 11:15 AM GMT

By: Submissions

Companies

David Petherick writes: If your business has a fleet of cars or vans you will be keen to keep these costs down as much as possible. And, as well as making financial efficiencies, you want to be able to improve your company’s impact on the environment and to streamline your operations. However, you have to try and make savings without having a negative effect on your service.


Director magazine says ‘the importance of using an appropriate fleet of vehicles – whether leased, rented, bought or employees' own vehicles – is paramount.’ So, we look at three great ways that you can save money on your fleet of vans and cars.

Use a longer car leasing period

Many businesses use car leasing to manage their fleets. With fixed payments that are often lower than other types of finance and the ability to regularly upgrade to new models, car leasing in the UK is increasingly popular.

One of the ways that you can cut your operating costs is to extend the car leasing period that you use. For example, you could use a four year car lease agreement rather than a three year lease. Director says that it is estimated that more than 70 per cent of fleets use a replacement cycle in excess of three years.

GE Capital – one of the world's largest suppliers of car leasing and fleet management services – has calculated that it is possible for a 500-strong fleet covering 10,000 business miles a year to save £180,000 by switching from a three to a four year car lease term.

Make the most of the IT solutions available

Specialist IT solutions such as fleet management software can help you to make financial savings.

Car leasing expert Ashley Sowerby says: "A good fleet software system provides the means to put your fleet policy into practice, providing proactive management of key areas such as overall running costs, emissions, fuel use, duty of care and much more.

“It will sit at the heart of the data feeds from other suppliers such as your fuel card company and leasing provider, giving you the means to accurately monitor and report on the performance of your entire fleet."

Give your employees a smaller choice of cars

While your employees might want a wide choice of new cars when choosing their next model, offering lots of car lease options can lead to higher costs for your business. And, by placing limits on the choice of cars, you can make significant savings.

GE Capital UK has calculated that by removing choice altogether by adopting just one ‘job need’ car and one management model, it would be possible to save £300,000 based on a 500-vehicle fleet covering an average 10,000 business miles a year.

Gerry Keaney, chief executive of the British Vehicle Rental and Leasing Association (BVRLA), adds: "Company cars are one of the most popular employee benefits, and a key motivational factor for some staff, so providing the right vehicle can be an important tool for an organisation that is competing for the best talent. Employees like a wide choice of company vehicles, but it can be more cost-effective for an organisation to limit this.

"There are lower administrative burdens associated with managing a less diverse fleet and some manufacturers will offer more advantageous terms if you sign a 'solus' deal and only take vehicles from their range. However, working with an experienced leasing and fleet management provider can often produce similar operational cost savings."

David Petherick is Head of Marketing at First Vehicle Leasing, the top provider of car leasing deals and solutions throughout the United Kingdom.

© 2014 Copyright David Petherick- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2014 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Free Report - Financial Markets 2014