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The start point for the best source of fleet information |
The days when you could efficiently run a fleet on the list price or lease rate of your vehicles are long gone. The P11D or monthly lease cost are usually the first places most operators will look before procurement, and they're the figures most likely to make them baulk if they're too high, but they're far from the be all and end all.
That's where whole-life costs come in. They're widely considered to be the most effective way of choosing cars for a fleet because they take into account just about every granular expense a business can expect to encounter when running a particular vehicle. Residual values, fuel, SMR and insurance, among others, all have a massive impact on how much a vehicle actually costs over the time a fleet is running it.
Choose by P11D alone and you're only factoring in one expense, so you may well end up shelling out more in the long run. Make a decision based on whole-life costs and you get the bigger picture - and you may end up with a very different but much more appropriate and far less expensive result.
The second of BusinessCar and Hyundai's exclusive round table events discussed whole-life costs in detail: what they're all about, how fleets can use them and where the big savings can be made. A team of the most experienced experts in the field gathered at the Royal College of Nursing in central London, and BusinessCar's special report details the crucial points of that meeting.
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Business Car Magazine © 2020 | Business Car is part of NS Media Group.
