Fleet News

SECOM ditches contract hire in favour of outright purchase

SECOM, the electronic security company, is hoping to save thousands of pounds after switching its fleet from contract hire to outright purchase.

This is the first time the company has used outright purchase to fund its 400-vehicle fleet and the company estimates the move will save £1,000 per vehicle over a three-year period.

For the last 10 years the all-Vauxhall fleet has been run on a contract hire agreement with Lloyds TSB autolease.

Finance director Paul Simpson said: 'Moving to outright purchase gives us a greater degree of flexibility on the fleet and allows us to change vehicles as and when we need to.'

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment


No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee