Fleet News

Leasing launch at Caverdale

ONE of the UK's fastest growing dealership groups has launched its own contract hire operation to capitalise on last year's VAT changes.

Motor retailing and industrial products business Caverdale Group, has launched Caverdale Vehicle Contracts, based in St Albans, through which it currently operates a fleet of around 200 vehicles.

Last year the company bought two small leasing and contract hire companies and formed an alliance with Automotive Leasing, sister company to Lease Plan - one of the UK's largest leasing companies.

Under the terms of the alliance Caverdale, which will sell leasing packages through its 28 dealerships as well as through its newly recruited leasing team, acts as agent for Automotive Leasing which, in turn, provides funding for the vehicles and carries all risk for credit, residual values and maintenance.

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