ECCLESIASTICAL Insurance has agreed a sale and contract purchase deal with Carlisle-based Custom Fleet for its fleet of 150 vehicles.
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It will contract purchase the vehicles from Custom Fleet with the provision of full maintenance management, but without the risk on disposal normally associated with contract purchase as Custom Fleet has guaranteed the residual values of all vehicles on the fleet.
The company opted for a contract purchase arrangement because as an insurance company it is unable to reclaim VAT, making contract hire a less attractive option.
Its fleet is operated on a user-chooser basis and comprises 115 cars for its national sales operations staff and 35 senior management cars at its head office in Gloucester. They will be operated on a four-year/75,000 mile replacement cycle.
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