Mid-term vehicle rentals continue to gain in popularity
According to specialist supplier, Stopgap Mid-term Vehicle Rental, more companies are recognising the financial benefits of mid-term rental vehicles over pool or company cars. The company reported an 81 per cent increase in the total number of mid-term rental days sold in 2005 over the previous year. In 2004, the rise was 37 per cent.
Roddy Graham, commercial director of the Leasedrive Group said: "While this huge increase compared to the previous year can be partly attributed to major new account wins, we have nevertheless identified a clear increase in this type of rental product through our specialist rental division. The last five years has seen accelerated growth for mid-term vehicle rental.
"Interestingly, more and more companies are using mid-term vehicle rental for new employees. A mid-term rental vehicle is increasingly provided as an employee benefit to those eligible for a company car during their probationary periods. Mid-term vehicle rental lasts until employment contracts are confirmed and new car orders delivered.
"Nineteen out of our top 20 leasing and daily rental customers regularly use mid-term rental, a significant jump over last year. The average rental length is now 81 days, with ex-pats and new employees on probation accounting for 90 per cent of our business. Other uses include cover for major accident repair.
"Mid-term rental used to be overlooked but companies are identifying the savings to be made over the more traditional methods of providing temporary transport."
"A compliance issue often overlooked is that, if vehicles are rented for more than 14 days, companies need to report motor insurance and P11D details. Rental:Manager, our online booking service, makes registration a simple process."
Stopgap Mid-Term Vehicle Rental offers a wide range of current models, from superminis to luxury coupés to vans, for corporate vehicle rental days of 28 days or more. Rates are substantially reduced compared to daily rental.
- ends -
Leasedrive Velo is the largest independent privately-owned vehicle management group in the UK and comprises two main operating divisions.
Leasedrive Velo Vehicle Management
Working in partnership with fleet managers, or delivering a complete outsourced service, Leasedrive Velo offers blue chip clients a range of bespoke fleet management services. Major investments in the finest asset management system and pioneering, flexible, web-based customer service technology have resulted in Leasedrive Velo offering customers a truly world class fleet management service capability.
Leasedrive Velo Rental Management
One of the largest short-term vehicle rental management companies in the UK, with access to an almost unlimited choice of vehicles and locations throughout the country, Leasedrive Velo Rental Management offers a simple and transparent pricing policy with no hidden surcharges. For rentals of 28 days or more, it offers the Stopgap mid-term vehicle rental solution. Rates are substantially reduced compared to daily rental.
The headquarters for Leasedrive Velo is at hi-tech offices at TRL in Wokingham. Leasedrive Velo is the winner of the 2006 Fleet News Award for 'Best Contract Hire/Fleet Management Company', the 2006 GreenFleet Award for 'Leasing/Rental Company of the Year', The 2006, 2007 and 2008 Thames Valley Business Awards for 'Business Management Team of the Year', the 2007 ITM Award for 'Independent Vehicle Management Company' and the 2008 ITM Award for 'Fleet Management Company'.
For further press information on Leasedrive Velo, contact:
Mr Jeremy Snook
JSPR Ltd
Telephone: 01488 670002
Mobile: 07957 867139
Facsimile: 01488 670008
E-mail: jeremy.snook@jspr.co.uk
Website: www.jspr.co.uk
