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Automotive data provider KeeResources has urged fleet managers to regularly review their car policies to avoid getting caught out by escalating end of life vehicle running costs.
In its new white paper: Vehicle Whole Life Costs: Best Practice for Fleet Managers, KeeResources examines the impact of employers' NI, tax liabilities for drivers, fleet insurance, company car and fuel policy.
It advises employers to keep abreast of new models and specification changes coming to market. It recommends fleet managers should establish minimum standards of specification to meet duty of care responsibilities and ensure they have in place a proper system for service, maintenance and repair and disposal of vehicles.
KeeResources also advises fleet managers to use whole life costs as a negotiation tool with suppliers and to amortise optional extra costs over the operating life of vehicles.
Report author Mark Jowsey said: "The white paper investigates key tactics to pursue to consistently lower costs as well as how to factor in broader HR and duty of care considerations."
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