Concerned about price increases with your current contract hire provider?

We help you get the best price when adding new vehicles to your fleet. Panel Funding means that we invite a panel of contract hire companies to quote for each new vehicle, creating competition between suppliers. As a result, they only provide us with the best prices. Then we select the best one for you.

We have been providing Panel Funding to our clients for over 30 years. On average, we save our customers from £30-£100 a month, per vehicle. This could mean savings of thousands of pounds across your fleet.

Get the best contract hire rate for every vehicle

If you are concerned about price increases with your current provider, Panel Funding can enable you to get the best price when sourcing company vehicles.

Our service invites a panel of contract hire companies to quote for each new vehicle you add to your fleet. This creates competition between our suppliers, meaning they only provide us with the best prices. Then we select the best one for you.

We have been providing Panel Funding to our clients for nearly 30 years. On average, we save our customers £870 per vehicle over a typical three-year contract. This could mean savings of thousands of pounds across your fleet.

Save Money

Our tried and tested system helps customers make significant savings compared to sole supply.

Leave the work to us

Get the cost-saving benefits of comparing multiple leasing companies, with the ease of working with a single provider.

Stop creeping rates

Control contract hire rates increasing by getting the best contract hire quote on every new vehicle you add to your fleet.

How does panel funding work?

Many organisations use contract hire to acquire vehicles – and a surprising number still rely on a single supplier. However, as we are not a contract hire company, we are free to shop around and use whichever suppliers we choose.

  • Typical monthly savings of £30-£100 per vehicle

  • A panel of funders – not just one
  • The lowest procurement costs possible

  • Hassle-free procurement (no need to shop around for the best quotes)
  • A helping hand — we handle the whole tendering process and admin

How does panel funding work?

Many organisations use contract hire to acquire their vehicles, and a surprising number still rely on just a single supplier. But because we are not a contract hire company, we are free to shop around and use whichever suppliers we choose.

  • Savings of around £870 per vehicle
  • Competitive tendering for each new vehicle
  • A panel of funders – not just one
  • Attractive rates for each new vehicle provided
  • Lowest acquisition costs as possible
  • Hassle-free procurement (no need to shop around for the best quotes)
  • A helping hand—we handle the whole tendering process and all the associated administration

We take away the hassle of finding the best prices on the market

Shopping around for the best prices can be time-consuming. We act as your fleet manager, handling every aspect of the competitive tendering process right through to the delivery of your new vehicles. We take the administrative hassle away and ensure that you concentrate on core activities without having to worry that your vehicles are cost competitive. By using Panel Funding in this way, you need only one point of contact for your vehicle needs.

We take away the hassle of finding the best prices on the market

Shopping around for the best prices can be time-consuming. We handle every aspect of the competitive tendering process right through to the delivery of your new vehicles. We take administrative hassle away and to let you focus on your core business without having to worry that your vehicles are cost competitive. By using Panel Funding in this way, you need only one point of contact for your vehicle needs.

Frequently Asked Questions

A. Contract hire has become the most popular form of vehicle funding in the UK, as it provides companies with known budgeted monthly costs for their vehicles. There is no risk involved on disposal as the vehicles are returned to the contract hire company at the end of the contract, and they take any risk on the selling the used vehicle. However, while contract hire is an excellent option, working with one supplier doesn’t always guarantee the most competitive prices for the vehicles in question.

A. Contract hire companies often have differing views on the same vehicle. This is mainly driven by the different view on what that vehicle will be worth at the end of its contract. That’s why not using one contract hire company for all of your vehicle orders is so important.

This leads to differing monthly rentals being quoted by different contract hire companies for the same vehicles, often with surprisingly wide variations in rates – which means that it pays to shop around for the best prices.

However, this simply isn’t possible if all your eggs are in one contract hirer’s basket. And it also leaves you open to price increases from your supplier over time – increases that you hadn’t anticipated when signing the contract. It’s a practice we call “price creep,” and it’s been going on for years – but we have a solution that quickly puts a stop to it.

A. With a panel of suppliers, each tendering for your business, they know they need to be competitive. We give regular feedback to unsuccessful suppliers so that they see why they didn’t win the contract, and what they can do to be competitive next time.

Not only that, but we use quarterly benchmarking and regular appraisals to ensure that our panel members continue to offer best value. Any supplier that fails to meet our requirements is replaced with one that is more competitive.

With Panel Funding, we typically work with three or four contract hire providers for each client – but you can use your existing contract hire provider as part of the panel if you prefer.

Talk with our panel funding experts

Contact us today for an impartial consultation on your fleet management options

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