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.'

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