The Future of Company Vehicles?

A Holistic Approach to Employer Provided Vehicles Twenty years ago, the company car market was pretty straightforward; organisations chose to either purchase their vehicles outright or lease them, mainly through contract hire with hire purchase and finance lease thrown in when the circumstances demanded. In the intervening years the market has diversified, with new (or repackaged) offerings being launched with the promise to take advantage of the accounting regime and tax legislation of the moment. At a headline level these offerings have included employee car ownership (ECO), salary sacrifice and employee personal contract hire schemes, but behind the scenes there are numerous variants of each available. As their popularity has waxed and waned with successive regulatory turns, it has [...]

October 9th, 2019|Categories: Fleet, Funding|

Choosing the most appropriate funding method for your fleet

Choosing the most appropriate funding method for your fleet A guide to help steer you through the funding maze Company cars can be expensive to operate and, for most companies, are typically the second or third most expensive cost centre after salary and pensions. Selecting the most appropriate funding method for your fleet is therefore of paramount importance. Various funding methods are available, each of which has its own features and benefits depending on a company’s operational objectives, and its accounting and cash flow requirements. To help navigate through this vehicle funding maze, we have produced a comprehensive guide to the most popular and commonplace funding methods in use today. It’s available for you to download here   What does the [...]

August 8th, 2017|Categories: Fleet, Funding|

Five Benefits of Salary Sacrifice for Employers

What Are the Benefits of Salary Sacrifice for Employers? Company Car Benefits for your Organisation Salary sacrifice car schemes have been one of the success stories of recent times, and increasing numbers of organisations throughout the country now offer their employees the benefit of brand new cars in return for surrendering a set amount from their salary every month. The proliferation of such schemes – in which staff can enjoy the benefits of salary sacrifice for a new car in much the same way they can for childcare vouchers, private healthcare, cycle-to-work, personal computers and other employee benefits – has seen them grow widely in both public and private sectors. As an employer, salary sacrifice benefits not only your staff, [...]

July 19th, 2016|Categories: Fleet, Funding|

New personal leasing service for business employees

New scheme provides access to a huge variety of deals for leased cars Many businesses provide company vehicles for their staff to fulfil vital business functions, such as sales teams, service engineers or maintenance staff. However, there are many other employees who need cars for occasional business use and who use their own vehicles on company business – which raises duty of care issues in its own right because privately owned cars may not be serviced and maintained as regularly as company-owned vehicles. And there are those employees who receive cash allowances in lieu of company cars, perhaps because they have opted out of the company car scheme as they feel the benefit-in-kind taxation they pay on their cars is [...]

August 26th, 2015|Categories: Driving, Funding|

Competitive tendering cuts procurement costs

Substantial savings available through using a panel of suppliers Procurement executives charged with finding the most cost effective buying solutions for their companies can ensure significant savings through the use of competitive tendering to source their company vehicles. Competitive tendering can help find the most cost efficient leasing rates for new company cars, and drive down fleet funding costs, by using a panel of lessors, rather than a single leasing company, and then selecting only the most cost-effective rates available. Why is competitive tendering necessary? Leasing rates for every new car in the market invariably differ from supplier to supplier. There are a host of reasons for this, but typically they revolve around the perceptions of each individual leasing [...]

July 7th, 2015|Categories: Fleet, Funding|

CLM expands services with sale and leaseback offering

Sale and leaseback now available Fleet management specialists, CLM, has expanded the range of services it offers to fleet operators by introducing a sale and leaseback offering in conjunction with group company, Maxxia. The new solution is ideal for those companies which own their vehicle fleets outright and want to release cash within the business to re-invest in essential, core activities or to fuel expansion. Already one major fleet client has signed a sale and leaseback with CLM, freeing up a significant six-figure sum to generate cash to reinvest in greener, low CO2-vehicles and replace a substantial part of its aging fleet. While many sectors of the economy are reporting better trading conditions, there are still companies who are finding [...]

July 13th, 2014|Categories: Funding, Vehicles|

Key fleet issues of 2014

CLM identifies key fleet issues of 2014 At this time of year it has become almost traditional to look forward and predict the most important fleet issues for the year ahead. Here at CLM we have put together our own predictions and believe that cost cutting and reducing whole life costs will remain firmly at the top of the fleet agenda for 2014. Cost cutting to remain top concern While the economy is forecast to grow this year, recovery looks likely to be patchy at best. We believe that, after talking with many of our clients, cost control will again be the number one priority. This means a careful balancing act between achieving lower costs while not compromising customer service [...]

February 1st, 2014|Categories: Fleet, Funding, Outsourcing, Vehicles|