Fleet News

PHH £5.3m deal with electricity provider

EASTERN Electricity has bought £5.3 million worth of vehicles through PHH Vehicle Management in the latest part of its purchase and leaseback agreement signed earlier this year. The electricity provider has replaced 235 vehicles in its commercial fleet, ranging from Vauxhall Corsavans to heavy-duty trucks costing £100,000.

The majority of the new additions are made up of Vauxhall Astravans, Land Rovers and LDV Convoy vans. PHH Vehicle Management has been managing the fleet since February, when it agreed the £13.6 million purchase and leaseback deal on Eastern Electricity's 2,900-vehicles, including 900 cars.

Duncan West, PHH Vehicle Management's development manager for contract hire and leasing, said: 'Since the deal was signed in February and we bought its fleet, we have been working with Eastern Electricity to emphasise the importance of wholelife costs instead of simply the purchase price of the vehicles. There is no set length of contract. It continues as long as both parties are happy with the agreement.'

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