Inchcape will take responsibility for the disposal process, including collection and inspection of end-of-contract vehicles, and the management of any required refurbishment. Previously, Bank of Scotland Vehicle Finance had done much of its remarketing in-house.
It is expected that that Inchcape will process around 20,000 cars and LCVs from Bank of Scotland Vehicle Finance annually, with the figure rising to 30,000 by 2006.
Many of the vehicles will be refurbished to reach agreed fair wear and tear standards before re-marketing.
Chris Joyce, head of operations at Bank of Scotland Vehicle Finance, said: 'As with many aspects of fleet management, the disposal process is becoming more professional and demanding in terms of dedicated resource and expertise to deliver the obtainable benefits.
'By teaming up with Inchcape we have made an evolutionary step, taking the operation that we were previously managing in-house to the next level. The partnership we have now formed will enable us to take the practice a stage further both in operational efficiency and in volume terms.
'When outsourcing delivers tangible benefits to our operation we will never be reluctant to pursue this route. We are firm advocates of the philosophy of focusing on our core business strengths and partnering with those possessing the specialist skills where necessary, as in this case.'
As well as de-fleeted lease cars, vehicles from other areas of the bank, such as ex-management cars and those from Freeway, the bank's retail PCP brand, will also be processed through the Inchcape operation.
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