Error parsing XSLT file: \xslt\FacebookOpenGraph.xslt Three-year lease model dying as fleets want more choice, claims rental boss
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Three-year lease model dying as fleets want more choice, claims rental boss

Date: 06 February 2017   |   Author: Daniel Puddicombe

The traditional three-year/60,000-mile lease is becoming less and less significant, as companies are looking for more flexible solutions, a rental company has claimed.

According to Phil Jerome, managing director of Meridian Vehicle Solutions, the leasing market has become more adaptable to the needs of customers, and contract hire suppliers have gained a greater understanding of what works best for specific fleets.

Jerome, who launched Meridian in 2015 after spending 15 years at Zenith Vehicle Contracts as its business development director, said that the fleet market has gradually moved into a model where a range of suppliers now offer a range of different services.

Furthermore, the Meriden MD said that many fleets have moved to four-year cycles after realising that cars are able to withstand high mileage counts without breaking down.

"You don't have to look back too many years to find a time when the choice was basically between a three-year lease and daily rental. Now that is no longer the case," he said.

"For new starters on probation, for people working on fixed-term contracts and even as a means of rolling, long-term vehicle provision, it fills a space that is currently largely ignored by both the rental and leasing sectors," he added. He claimed short-term leases of between three and six months is an underserviced area of the fleet market.



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