Fleet News

GE reveals three new leaseback deals

THREE new sale and leaseback agreements have been signed by two of GE Capital Fleet Services' member businesses - Leasecontracts and Avis Fleet Services.

With GE expecting to announce other new contracts shortly, managing director Dan Farrar said he believed the business had been won as a result of GE's ability to provide 'effective tailored solutions and real service benefits to a widening range of clients'.

Leasecontracts has concluded a £341,000 sale and leaseback deal with Sony Computer Entertainment Europe. Twenty-five vehicles were included in the deal, with a further six new cars being supplied to the 31-strong fleet on contract hire.

At Avis Fleet Services, deals have been secured with Pizza Hut (UK) and with the Arthritis & Rheumatism Research Council, which has netted itself £240,000 as a result. The Pizza Hut deal involves 34 vehicles out of a 90-strong fleet under management with Avis Fleet Services since 1992. As the remaining vehicles come up for renewal, they will be replaced by new units on full maintenance contract hire.

Avis Fleet Services won the Arthritis & Rheumatism Council's because, it claims, it was the only company which offered the charity the contract purchase option, appreciating that contract hire did not work for charities which were VAT exempt and therefore unable to reclaim VAT on contract hire rentals.

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